Bankwest Forum

Ask a new question
Reply
New Member
SOLVED
Accepted Solution

can't withdraw cash whilst overseas

[ Edited ]
Posted by talhy talhy
Message 1 of 10 2,727 Views

Hello, I'm having issues withdrawing cash in Bali with my debit mastercard. Ive tried commonwealth atms and have been hitting savings (is this the issue?)

Also will I be charged a foreign atm fee for using commonwealth? What is the withdrawal limit and the foriegn transaction fee?

Thanks in advance, 

Tal

 

-- @talhy I updated the title of your post to help other members find the info easier. Thanks, @PeteW --

Reply
0 Kudos
New Member

Re: can't withdraw cash

Posted by Dimitra Dimitra
Message 2 of 10 2,723 Views
I'm in Bali also having the same issues... Can't withdrawal from my debit card???
Reply
0 Kudos
New Member
SOLUTION

Re: can't withdraw cash

Posted by Dimitra Dimitra
Message 3 of 10 2,721 Views
I found the answer! You have to select credit.
Moderator

Re: can't withdraw cash

Posted by SarahF SarahF
Message 4 of 10 2,709 Views

Hi, yep you'll need to select credit while overseas as savings does not work overseas Smiley Happy

Reply
0 Kudos
Senior Contributor

Re: can't withdraw cash

Posted by thewinchester thewinchester
Message 5 of 10 2,708 Views

Yes, and the reason for needing to select Credit is because Bankwest doesn't provide any ATM cards which are provisioned on the Cirrus network - which would a) allow you to use the savings account, and b) withdraw the money with significantly less fees.

 

When withdrawing at an ATM using the Credit option, remember that you will be charged any ATM operator fees, Bankwest's Overseas ATM fee, and also the Foreign Currency Conversion charges associated with your account - which can add a significant cost to the transaction.

 

I had to make several withdrawals in the USA recently totalling in excess of AUD 1,500 - and it cost me in the order of AUD 60 in fees. It pays to know how much you'll be charged for this, and what alternatives are out there if this is a regular thing for you.

 

So, before going overseas - consult the PDS for your account as well as the fees and charges list to make sure how much you'll be paying for overseas withdrawals, and you can budget accordingly if you're trying to keep it a cheap trip.

 

Also, consider researching products from Bankwest's competitor banks, and their competitor non-banks. There may be much cheaper ways for you to access your funds overseas - especially if this is a regular thing for you.

Moderator

Re: can't withdraw cash

Posted by SarahF SarahF
Message 6 of 10 2,707 Views

Great suggestions @thewinchester. We offer our Platinum credit cards which offer no foreign transaction fee which can help customers save on fees while travelling. @LyndsC did a great post on https://goo.gl/p5ix7O which is a great read before you head overseas.

Senior Contributor

Re: can't withdraw cash

Posted by thewinchester thewinchester
Message 7 of 10 2,706 Views

@SarahF: Ugh, cash advances from a credit card - I personally don't recommend cash advance as a good strategy for obtaining cash overseas.

 

They're just as bad, and even more complicated, especially if the customer doesn't understand how repayments are applied between their regular purchases and cash advances. And this can often lead to even more fees than they'd incur with a credit withdrawal from their transaction account.

 

You need a really high level of financial literacy, and importantly financial disipline to make that a viable option.

Reply
0 Kudos
New Member

Re: can't withdraw cash

Posted by only80dollatsnzd only80dollatsnzd
Message 8 of 10 204 Views

I am overseas at the moment in New Zealand and limited to $80NZD a day cash advance just rediculous and Mastercard International say the card is invalid and cant help me thanks Bankwest

Reply
0 Kudos
Ask a new question
Top kudoed contributors

Bankwest SWIFT code: BKWAAU6P | Find your BSB by logging into Online Banking
© 2017 Copyright Bankwest, a division of Commonwealth Bank of Australia (Bankwest) ABN 48 123 123 124 AFSL / Australian credit licence 234945. All rights reserved. To use this Website, you are required to read the Financial Services Guide (which you agree to be provided by accessing the link). Bankwest is a division of Commonwealth Bank of Australia, which is the product issuer unless otherwise stated. Rates stated are subject to change without notice. Any advice given does not take into account your objectives, financial situation or needs so please consider whether it is appropriate for you. For deposit and payment products, please ensure you read and consider the Product Disclosure Statement (which you agree to be provided through this link) before making any decision about the product(s). For lending products, lending criteria and fees and charges apply. Terms and conditions apply and are available on request.