OK my Aussie TA friends.
I promised to trial my NAB Gold Debit Card against my husband%26#39;s credit card and his ATM debit card from a Building Society on our 12 week trip. Here is what happened.
Shortly before leaving I changed my ATM withdrawal card to a NAB gold debit card which can also be used like a credit card in shops. It promised no OS transaction fees and mostly no ATM fees and no bank fees at all if more than $5000 AUD was deposited each month.
Nick and I share expenses, so when one drew out say, E200, the other would too. For a E200 withdrawal. made on the same day at the same time at the same ATM, Nick had approximately $7 AUD in various charges. I had none. For a E500 withdrawal he paid $17.24 more than I did. I estimate I saved almost $200 at ATMs.
For the record, only one bank ever tried to impose an ATM fee, E3.00 at La Caixa in Spain, but it allowed you to terminate the transaction if you didn%26#39;t want to pay the fee.
Because it is not at all difficult to use $5000 AUD in money a month while overseas, there were no bank fees. I kept an eye on the amount in the account via the web (we travel with a laptop) and topped it up as required from an interest bearing deposit.
As well, if Nick paid via ANZ credit card he incurred about a 3% overseas fee. I incurred none with my Gold debit card. We ended up using the debit card for most purchases and accommodation.
I don%26#39;t think there is any doubt that the NAB Gold Debit card is worthwhile for Aussies travelling overseas. Other banks may be introducing the same cards but I haven%26#39;t assessed them.
Something to think about before you go.
Lynn
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Bumped up so weekend TA visitors have a chance to see it.
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