These Australian debit cards don't charge overseas transaction fees

A growing number of Australian debit cards offer savvy travellers various ways to save on international transaction fees, and in some cases, even provide rebates on ATM fees imposed by the machines' operators.

With no monthly account keeping fees and easy online banking tools to manage your cash wherever you may be, these debit cards can be handy tools to keep in your arsenal.

ING Orange Everyday Debit Card

This branchless bank offers what may be the most competitive debit card offering, albeit with some work involved every month.

What’s great about it:

• Potentially, free ATM withdrawals in Australia and around the world, with a waiver of ING's $2.50 international ATM withdrawal fee and rebates on fees charged by ATM operators both in Australia and overseas.
• The 2.5% charge for international transactions can be waived as well.
• In my experience, international transactions are settled on the Visa exchange rate (very close to the ‘Google rate’), without additional commissions or fees, when meeting the monthly cash criteria below.

The catches:

• You need to deposit at least $1,000 per month into any personal ING account in your name (e.g. a linked Savings Maximiser account), excluding Living Super and Orange One accounts. Having your salary paid into ING is the easiest way to achieve this.
• You also need to make five debit card purchases every month, which are settled (not pending) before the end of that month.
• These benefits only come into effect the month after you complete the above requirements, and are activated (or taken away) on a month-by-month basis. So, if you meet these requirements in October, your fee-waivers would come into play in November. Meet the requirements again in November to enjoy the benefits throughout December, and so on. Or, if you don't meet the requirements in November, those fees would become enabled again in December.
  

Also good to know:

• There are no account-keeping fees on ING’s Orange Everyday account.
• If you meet the $1,000 deposit + five card purchases a month requirement, you also qualify for a bonus interest rate on your ING Savings Maximiser account for the next month.
• The app is smooth and functional. It’s very easy to move money around if you need to make a purchase in a pinch, both here and overseas.

Personal notes:

• Great support staff at the Australian call centre.
• This is currently my main bank. Having my salary paid into it and doing five card taps at the self-checkout fulfils the requirements every month. I’m then free to use any ATM as needed with no extra cost.
• If I need to dash overseas, having this card already in my wallet means I’m set for cash withdrawals and card payments, without worrying about extra fees.

Citibank Plus Everyday Debit Mastercard

This debit card account has been around for a long time, but can be an excellent all-rounder.

What’s great about it:

• No Citibank-imposed transaction fees overseas, for both purchases and ATM withdrawals.
• No monthly hoops to jump through: these benefits are active no matter how much (or how little) you use your Citibank account.
• In my experience, overseas transactions adopt the official Mastercard exchange rate, without additional fees or commissions from Citibank.

The catches:

• Any fees imposed by ATM operators are not rebated, so you may still be charged for those overseas (and in Australia, too).
• Mobile app and website interface is a bit dated and clunky.

Also good to know:

• There are no account-keeping fees on the Citibank Plus Everyday Account.
• No Citibank fees to transfer money overseas or to receive International Money Transfers. Transfers between selected international Citibank accounts can also be instant.
  
• Citibank Dining program offers a free bottle of wine at partner restaurants, when you pay with your Citibank card.

Personal notes:

• This is my backup card which I also carry with me every day. It’s worked very well on previous trips before the ING offering came along.

Macquarie Debit Mastercard

Linked with the newly- updated Macquarie Transaction Account, this card can also help you cut down on fees when travelling.

What’s great about it:

• No international transaction fees overseas, for cash withdrawals and purchases.
• Macquarie advises that when you choose to pay in a foreign currency, transactions are processed using the Mastercard international exchange rate with no additional fees.
• No minimum deposit or transaction requirements, so again unlike ING, these fee waivers apply regardless of how active your account is.
• ATM fees in Australia are waived or rebated.

The catches:

• Any withdrawal fees charged directly by overseas ATMs are not waived or rebated, so there may still be some costs when accessing your money abroad.

Also good to know:

• No monthly account fees.
• Macquarie's mobile app supports push notifications for each transaction, so you can see both the local amount and AUD conversion instantly. Enable the app's "Travel Mode" feature and you can also see the exchange rate at a glance for the country you're in.

UBank Visa Debit Card

This branchless bank is a shoot-off from NAB, and offers a no-fee transaction account that comes with a Visa Debit card. There are no UBank fees for overseas ATM withdrawals or transactions.

What’s great about it:

• No international transaction fees overseas, for cash withdrawals and purchases.
• UBank processes international transactions with no additional fees.
• No penalty for accidentally overdrawing your account (but interest still applies to the overdrawn amount).
• No ATM fees in Australia with NAB and RediATM. Other operators may still charge a fee to use.

The catches:

• Any withdrawal fees charged directly by ATM operators are not waived or rebated, so there may still be some costs when accessing your money abroad or in Australia.

Also good to know:

• No monthly account keeping fees.
• Bonus interest on your savings if you deposit $200+ into your USaver Ultra or Savings account from an external source, every month.

Brandon Loo

Based in Perth, Brandon enjoys tucking into local delicacies, discovering new cocktails, and making aeroplane food look good on camera.