28 Degrees offers great deal for travellers

28/11/2011

Travellers are regularly being charged $10 to withdraw their own money from their debit or credit cards at international ATMs. There's not much Australian travellers can do about local ATM fees and withdrawal limits in other countries, but the two things that people can compare and avoid are international ATM fees and currency conversion fees levied by their card issuer.

On average, the big four banks charge their credit and debit card customers $5 per withdrawal and 2.7 per cent foreign currency conversion fees. That equals $10.40 in average card fees for a $200 withdrawal.

The good news is there is now a range of card options for travellers, including some cards that charge no international ATM fees or foreign currency conversion fees. There are three credit cards and two debit cards out there now that are charging no international ATM fees and zero currency conversion fees.

One of these cards id the 28 Degrees Mastercard which is currently charging 20.99 per cent on cash-outs and purchases after a 55-day interest free period. The card features no annual fee and is currently offering a balance transfer rate of 4.99 per cent for six months.

An advantage that some credit cards have over pre-paid travel cards is free insurance and this can be worth a few hundred dollars in itself.

Source: Courier Mail