Australian Cards in Curve - Overseas Transaction Fees!

#1

As well as my UK cards, I have Credit Cards from Citibank and HSBC in Australia since I spend a portion of my year in Australia and want to spend in AUD.

Curve happily accepts my cards and all works great EXCEPT that even when charging in AUD in Australia, both Citibank and HSBC slap me with an overseas transaction charge, probably because Curve is processing the charge through London ?

Has anybody found any Australian Credit cards that don’t do this that I could use as funding cards for Curve as there are quite a lot of situations when I want to tarvel overseas and fund from AUD not GBP

Alternatively, @Curve is there any way you could process charges to Australian cards differently so that the card providers here process them as Australian Transactions.

This issue makes the ability to put my Australian cards onto Curve as pretty much worthless.

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#2

That is indeed the issue. I dont see how Curve could avoid this short of processing Australian cards locally from Australia, which PayPal does but I don’t think Curve will be able to do in the short or medium term.

I have the same issue with Portuguese cards as all debit or credit Portuguese cards I’m aware of, except for one, charge an “International fee” even if no currency conversion is envolved when charges come from outside the European Economic Area. Thankfully it isn’t an issue for me with Curve as the UK is part of the EEA.

The only way to find a card that doesn’t charge this kind of fee would be to look at the fee schedules for each card

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#3

I had this issue when paying Airbnb in AUD, they billed it from the USA and I was charged a foreign transaction fee despite no currency conversion being involved.

@PaulSydney have you looked at ING? They waive all foreign transaction fees and ATM withdrawal fees on their Orange Everyday account once you make 5 or more transactions a month and transfer A$1k into your account (can then transfer it straight back out!). Linked Savings Maximiser account also pays 2.8% when you meet the aforementioned criteria on your main account.

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#4

Indeed can be an issue with US cards and Canadian Scotiabank cards as well.

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#5

Some problem with 1 of my U.S. cards. The ‘bad players’ here are the underlying banks, charging fees for int. transactions even if they are in the correct currency, almost all Singapore banks do that,too. There is another thread here somewhere about this.
The only workaround would be for Curve to have a license + branch in each country, which would be an insane workload, think about it, having an official branch in each country and getting a license for it, total mess…
So better to switch away from those underlying banks / write a complain letter to them and asking for a change in their policy.

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