International & Travel

[#1]

I know this quetion has been asked many times, but can you please clear this up for me and to get Hubby off my back....

I have both a Platinum Debit card and a Platinum Credit card - what fees will I be charge for both of these cards and where/when should they used them to incurr NO fees/charges while travelling overseas - eg money from ATM's and or purchases....????

[#2]

Hey @01KerynFoley - hopefully this helps clear things up for you both
 

Debit MasterCard
2.95% Foreign Transaction Fee
$5.00 Overseas ATM Fee, per withdrawal, charged on the first business day of the following month as one amount (waived on Rewards Transaction and Qantas Transaction accounts)
 

MasterCard Credit Card
2.95% Foreign Transaction Fee (waived on Platinum and World Tier cards)
$4.00 or 2% (whichever is higher) Cash Advance Fee on ATM withdrawals - when accessing funds within the card limit
$4.00 Cash Advance Fee on ATM withdrawals - when accessing your own funds over and above the card limit
 
To summarise:
-You won't pay Cash Advance fees when selecting "Credit" on a Debit MasterCard, as these are still your own funds, it's just that "Cheque" and "Savings" are not recognised on a MasterCard internationally.
-The $5.00 Overseas ATM Withdrawal Fee does not apply on a MasterCard Credit Card, as the $4.00 or 2% Cash Advance Fee is charged in place of this.

If you have any further queries, this link may also help. Thanks!

[#3]

Why then am I being charged 25% for foreign transactions?

I have a Platinum MasterCard and made a purchase for $1620HUF, on that day MasterCard said the transaction would be converted to exactly $8.01AUD. Bankwest then charged me $9.77. That's 22% and this is not uncommon at all! I bought headphones last week and they were marked up by 13% using your card that is supposedly free of charges overseas. What gives here?