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raviinc

Commonwealth bank ATM charges

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raviinc

Guys I want know what are the ATM transaction fees levied against cash withdrawals while using the Commonwealth bank debit card. Are the charges based per transaction or on the quantum of cash withdrawn. Thanks

 

 

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OoJohnnyoO

Guys I want know what are the ATM transaction fees levied against cash withdrawals while using the Commonwealth bank debit card. Are the charges based per transaction or on the quantum of cash withdrawn. Thanks
 
 
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$5, plus 3% of the transaction value. You'll also be slugged by the Thai ATM as well, which at the moment is over $10.

CommBank are ripoff cunts, piss them off and open a Citibank Plus or ING everyday account.
Citibank Plus, no fee's except for local ATM fee.
ING, no fee's and rebates local ATM fee, provided you jump through a couple hoops.

To qualify for ING's perks you need to deposit at least $1000 and make 5 purchases in the month prior.

I've got both cards, but I use the ING exclusively as it's the better of the two. I switched all my banking to ING which makes clearing those hoops a lot easier.

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SteveX08

Look at the Commonwealth Bank website...

Johnny beat me to it.

 

 

Edited by SteveX08

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Atlas

Thumbs up to ING. 

Withing .1 of the cash rate, all fees refunded. I racked up nealry 1K in returned fees last FY. Amazing. 

Of course there are certain conditions to be met. 

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raviinc
$5, plus 3% of the transaction value. You'll also be slugged by the Thai ATM as well, which at the moment is over $10.

So when we draw 10000b It’s 105b(5$)+300b(3%)+210b(10$atm fee)= 650b. So to draw 10000bhat you need to pay a fee of 650bhat. That’s insane.

 

 

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Wizardjones

I got sick of paying nearly AUD $30 in fees for a 20K baht withdrawal by CBA so opened an ING account. Get my salary paid into the account do 5 tap and go transactions each month and get all fees reimbursed including overseas. Exchange rate usually on par with TT so can only recommend to you taking this option.

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keepitfun
3 minutes ago, raviinc said:

So when we draw 1000$. It’s 105$(5$)+300b(3%)+210b(10$atm fee)= 650b. So to draw 1000 bhat you need to pay a fee of 650bhat. That’s insane.

I think you may be mixing Baht and dollars in your maths.  It’s awful but not quite that bad

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OoJohnnyoO

 

So when we draw 1000$. It’s 105$(5$)+300b(3%)+210b(10$atm fee)= 650b. So to draw 1000 bhat you need to pay a fee of 650bhat. That’s insane.

 

 

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If you were to withdraw AU$1000 it would cost you ~$45.50 in fee's.

$5 fee, $30 (3% of $1k) and about $10.50 for Thai ATM (generally 220baht).

 

That's not insane, that is absolutely fucked!

 

Edit. To withdraw 1000baht would cost you about AU$16.93 on an exchange rate of 21. Or about 355baht

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raviinc
I think you may be mixing Baht and dollars in your maths.  It’s awful but not quite that bad

Just corrected, hope I’m right.


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OoJohnnyoO

Just corrected, hope I’m right.


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Yeah, you're pretty much on the mark. Give or take a dollar or so.

If you're not currently in LOS and are a few weeks out before heading over, I would consider opening one of the two I mentioned (Citibank Plus/ING everyday).

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raviinc
If you were to withdraw AU$1000 it would cost you ~$45.50 in fee's.$5 fee, $30 (3% of $1k) and about $10.50 for Thai ATM (generally 220baht).
 
That's not insane, that is absolutely fucked!
 
Edit. To withdraw 1000baht would cost you about AU$16.93 on an exchange rate of 21. Or about 355baht

355 bhat fees to withdraw 1000bhat, that’s fucking 35.5% charges!


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Ru4Real

Of which, 22% is nothing to do with CBA and is a fixed charge therefore percentage of overall fees is variable.

Who the hell withdraws 1000 Bht anyway :Dunno1:

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OoJohnnyoO

355 bhat fees to withdraw 1000bhat, that’s fucking 35.5% charges!


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It's the Thai ATM fee off 220baht that jacks it up.

I usually draw 20k at a time, so even when I used the Citi Plus where they don't refund that charge, 220 extra wasn't so bad. The exchange rate was much better when I used that card though, 220baht was only like $7-8.

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OoJohnnyoO




Who the hell withdraws 1000 Bht anyway :Dunno1:



I have. Once.

I did it as a test one year when there was a dispute whether or not we were being slugged the Thai ATM fee and whether or not Citi was refunding it. Was an expensive test, but we were also getting a better exchange rate then too

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Ru4Real

@OoJohnnyoO  Sounds like we've been on the "same journey" with ATMs. Ever use a 28 Degrees credit card by any chance?

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OoJohnnyoO
[mention=135251]OoJohnnyoO[/mention]  Sounds like we've been on the "same journey" with ATMs. Ever use a 28 Degrees credit card by any chance?
Sounds like it

Yeah, I used to have/use a 28 degrees credit card. It's good, refunds or waives all overseas transactions fee's. The interest rate is horrific though, so it's one card you MUST pay the balance of every month or suffer.

I ended up cancelling it in favour of doing the points game with NAB (I cop international transaction fee's now but).

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Ru4Real

Yep, knew you would have had one 555

I've not carried cash for around two decades I reckon and so far:

Normal ATM - cost a fortune in fees so ...

28Degrees when it came out, preloaded so no issue with interest rates. Then they started sending out surveys in which it was obvious the way they where leaning and even though I have no doubt thousands told them not to change they did. So ...

CitiBank Plus, apart from the dumbfucks blocking my card on numerous occasions not too bad but the Thai ATM fee sucks. So ...

ING. exclusive use when overseas (CitiBank relegated to first backup) but still keep my normal account. Takes seconds nowadays to transfer cash in and out and use it to fill up the car weekly so easy enough to meet the requirements.

 

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OoJohnnyoO



CitiBank Plus, apart from the dumbfucks blocking my card on numerous occasions not too bad but the Thai ATM fee sucks.


That is the only annoying thing about the Citi card. I would only transfer money in there before heading overseas, so I had to remember to use the card every 6 months so the fuckers wouldn't put a block on it. So I'd have to transfer $20 in, find an ATM that's in their network so I wouldn't cop a $2.50 fee and then pull the $20 out.

It only takes a phone call to unblock it, but I don't wanna be sitting on hold until some cunt decides to take me off hold, then I gotta explain the shit so they can push a button to unblock it. Plus their app sucks balls. Fuck that.

ING overall, even with the hoop jumping, tops Citibank imho.

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WalterA
2 hours ago, OoJohnnyoO said:

ING, no fee's and rebates local ATM fee, provided you jump through a couple hoops.

To qualify for ING's perks you need to deposit at least $1000 and make 5 purchases in the month prior.

I've got both cards, but I use the ING exclusively as it's the better of the two. I switched all my banking to ING which makes clearing those hoops a lot easier.

ING is the best account .... you don’t incure any fees what so ever ... the 5 transactions a months ... I easily get them done shopping during the normal course of the month ... Big C, Tesco, etc .... otherwise ... some months I just go to 7-11 or family mart and buy a bottle of Soda .... you can use your card irrespective how small the amount ....

 

CBA ... rip-off bank

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WalterA
55 minutes ago, Ru4Real said:

 

Who the hell withdraws 1000 Bht anyway :Dunno1:

With the ING account ... no problem .... you could in theory do that and not be worse off, even by a cent ....

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Ru4Real

My CitiBank was getting blocked while overseas, being flagged as suspicious (even though I told them my travel details). Think it's better now but have only used it a couple of times so can't be sure.

One memorable block was in Bkk, been in KL for a week and about 4 days in Bkk with no problem (I tend to hit the ATM every day so it didn't just sneak up on them). Went to use it and no go, just down from Asoke so wandered up to use their ATM, no go, wander in the the branch to yet again get them to call support for me (that shits me, because Aussie account the Thai branch can't help!). The girl in the Philipines reckoned they'd just done a software update so I was put on hold as they transferred me to a tech who reckoned he'd tweaked something on my account so should be OK now and asked if there was an ATM close ... I then went through the farcical situation of going up and down two flights of stairs three times to the ATM while he waited to "tweak" something again and finally gave up 555

He did say he'd get it fixed by next day and he did so good on him for that.

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raviinc





That is the only annoying thing about the Citi card. I would only transfer money in there before heading overseas, so I had to remember to use the card every 6 months so the fuckers wouldn't put a block on it. So I'd have to transfer $20 in, find an ATM that's in their network so I wouldn't cop a $2.50 fee and then pull the $20 out.

It only takes a phone call to unblock it, but I don't wanna be sitting on hold until some cunt decides to take me off hold, then I gotta explain the shit so they can push a button to unblock it. Plus their app sucks balls. Fuck that.

ING overall, even with the hoop jumping, tops Citibank imho.

Does even the commonwealth bank debit card get blocked if not used for 6months.


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OoJohnnyoO



My CitiBank was getting blocked while overseas, being flagged as suspicious (even though I told them my travel details). Think it's better now but have only used it a couple of times so can't be sure.



Wow, what a shit storm.

Funnily enough, not once did I advise them of my travel plans and never got flagged. Used it in LOS for three trips, each 6-8months apart. Two different stopovers in KLIA and a number of trips to NZ. Perhaps I was super lucky


Does even the commonwealth bank debit card get blocked if not used for 6months.


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No idea. You'd have to find out the hard way, like many Citibank users did...555

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MidniteM

I use both the 28 degrees and the ING card.  28 Degrees credit card for all flights and accommodation,  ING for all cash and 5 purchases a month.  If you are heading into remote Thailand (or Philippines,  etc) it can be tough to get 5 transactions in a month, so a little planning or a few small purchases when available can be necessary. 

The savings for me add up to over A$1,000 a year, I guess.

Another advantage of ING is that they pay higher interest than CBA and others.

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Ru4Real
4 minutes ago, MidniteM said:

If you are heading into remote Thailand (or Philippines,  etc) it can be tough to get 5 transactions in a month, so a little planning or a few small purchases when available can be necessary

^ Good point and worth noting. Sadly past few years I can't get that much time off in one hit, maxing 3 weeks nowadays.

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