Any Aussies using Wizard "Clear Advantage" card?

[Bello Uomo]

Gday

Are there any Aussie BMs using the Wizard "Clear Advantage" Mastercard as an ATM cash withdrawl card whilst in Thailand?

It is promoted as:

* No annual fee
* No ATM withdrawl fees (home or abroad)
* No foreign exchange/conversion fees

I run the card with the balance in 'credit', then use it to withdraw money from ATMs here in Australia. No fees.

Just wonder if anyone has used it in Thailand as a ATM card and if works okay with no problems? It is a "Mastercard" so the bank's ATM will need that affiliiation.

[Ozskin]

Thanks for the post. Sounds quite interesting, and ill look into it. Im an ANZ customer and their fees for withdrawing money overseas is obscene now.

Originally Posted by Bello Uomo

Gday

Are there any Aussie BMs using the Wizard "Clear Advantage" Mastercard as an ATM cash withdrawl card whilst in Thailand?

It is promoted as:

* No annual fee
* No ATM withdrawl fees (home or abroad)
* No foreign exchange/conversion fees

I run the card with the balance in 'credit', then use it to withdraw money from ATMs here in Australia. No fees.

Just wonder if anyone has used it in Thailand as a ATM card and if works okay with no problems? It is a "Mastercard" so the bank's ATM will need that affiliiation.

[Bello Uomo]

No worries.

I've used the card already to book a flight on Nok Air and a hotel in Pattaya.

No fees are showing on my statement. The exchange rate I got was maybe a bit below the going rate, but I can't be sure.

If anyone's used one as an ATM card in Thailand, I'd be keen to hear.

[stevem]

Foreign exchange fees are imposed on transactions by external sources, so I cant see Wizard absorbing these. As you say your exchange rate seems a tad lower, they will get you somehow. Nothing is free when it comes to bank/finance nazi's.

[Bello Uomo]

Definitely no explicit FX fees Steve. Have been using the card already to buy stuff from overseas.

But as you suggest, they could be 'disguising' a fee by dealing me at a less attractive foreign exchange rate.

For info, I made two online purchases in THB on 24 October, and I got dealt at 26.95THB per 1 AUD.

I am not sure how that compared with CBA, Westpac, NAB etc..

[MrDK]

Originally Posted by stevem

Foreign exchange fees are imposed on transactions by external sources, so I cant see Wizard absorbing these. As you say your exchange rate seems a tad lower, they will get you somehow. Nothing is free when it comes to bank/finance nazi's.

Originally Posted by Bello Uomo

Definitely no explicit FX fees Steve. Have been using the card already to buy stuff from overseas.

But as you suggest, they could be 'disguising' a fee by dealing me at a less attractive foreign exchange rate.

For info, I made two online purchases in THB on 24 October, and I got dealt at 26.95THB per 1 AUD.

I am not sure how that compared with CBA, Westpac, NAB etc..

Generally there should not be any fees when buying as the merchant pays a percentage commission to the card franchise.
ATM is another story where a fee may apply at either or both ends. In the US there are more and more banks that offer rebate on fees imposed by other banks. TD Bank is one. I asked my bank and they said that competition will soon force them to do the same.