Using your Commbank debit card abroad. The lowdown

If you’re planning on heading off on an overseas adventure, working out how you’ll access your holiday funds is likely to be a key concern.

For CommBank customers, simply opting to use an existing Commonwealth Bank debit card may seem like the easiest solution. However, while Commbank allows the card to be used in this way, it is not without some added conditions.¹

This includes things such as extra fees and charges levied for using your card overseas as well as fluctuating exchange rates.

In this guide, we’ll take a closer look at what's involved with using your Commonwealth Bank debit card overseas. This includes any potential fees, how exchange rates factor in and how to keep your money secure while travelling.

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What to do before you travel abroad with your Commonwealth Bank debit card

Whether you plan to use your CommBank debit card or not while travelling, it is always wise to prepare for any eventuality.

Banks will often block access to your accounts if any suspicious activity is detected, this includes being used overseas.

For this reason, it is recommended to alert your bank of your intention to travel in advance of your departure. This usually means providing your dates of travel as well as the destinations you will visit.

With Commbank, this can be done quickly and easily either online via their NetBank portal or through the CommBank app.²

Additionally, be sure to check the expiry of your cards too and order replacements as necessary.

As contactless payments are not always available outside Australia, you should also reconfirm your access PIN and commit it to memory if needed.

What are the fees to use your Commonwealth debit card abroad?

You can use your Commonwealth debit card overseas at any atm or with any EFTPOS terminal that displays the Maestro, Mastercard or Cirrus logo.¹

Depending on your location the following fees will apply.³

As seen on 17 October 2023

What exchange rate does Commonwealth Bank use for overseas foreign currency payments?

In addition to fees and charges, you should also factor in the rate of exchange for the currency you are paying in or withdrawing.

For purchases or withdrawals made overseas using your Commonwealth debit card, the transaction amount is converted to Australian Dollars (AUD) by Mastercard. The rate applied is either a reflection of wholesale market rates or a government-mandated rate.⁴

For example, Mastercard’s currency converter places USD$1 equivalent to AUD$1.59127 based on the exchange rate available at the time of writing. ⁵

This means that should you withdraw USD$100 from your Commonwealth Bank debit card while in the US, you can expect to have AUD$159.13 debited from your account plus 3% of the transaction amount and AUD$5.00 in CommBank fees.

Keep in mind that the exact rate applied is subject to fluctuations between the time of purchase and when the funds are actually debited from your account.

What are the card spending limits with a Commonwealth Bank debit card?

Before deciding if using your debit card is the right move for you, be sure to think about how you’ll be spending on the card.

CommBank debit cards have a maximum daily limit of AUD$2000 for withdrawals and transactions.⁶

Currently, it is not possible to raise this limit over AUD$2000 and while you may think you’d struggle to hit this amount in your everyday life, it can pose a risk when travelling.

Booking a flight or paying for an extended hotel stay in another currency could quickly see you hit this limit.

This is especially true when transacting in countries where the exchange is less favourable to the Australian Dollar such as when dealing with US dollars, British pounds or Euros.

Dedicated foreign currency travel cards from Commonwealth Bank

Commonwealth Bank offer a dedicated alternative to using your debit card overseas in the form of their Travel Money Card.⁷

Setting up a travel money card can help you save on fees and charges, secure a more favourable exchange rate and reduce the security risks of using your debit card overseas.

Other alternatives for dedicated travel money cards include options from:

• Wise
• Travelex
• Westpac
• Revolut
• Citibank

Keep in mind before your travel

No matter where you’re headed overseas, this checklist can help you be as prepared as possible when it comes to money

• Where possible, travel with a mix of foreign cash, bank issued debit or credit cards and a dedicated travel money card. This ensures you’re ready for anything.
• Check the expiry dates on any cards you will travel with and sort out replacements as needed.
• Advise your bank when and where you will be travelling to.
• Make sure you’ve sorted out travel insurance to cover any unexpected medical costs.
• Consider any direct debits that will alter your available balance when travelling and make allowances for these.

Blocking your Commonwealth Bank Debit card if your card gets lost or stolen abroad

Should you misplace your debit card or it is stolen during your travels, it is vital to act quickly to protect your account.

The quickest way to do this is to block or cancel your card by alerting the bank via phone or through the available online account management services. These are detailed below for reference.

Contacting Commonwealth Bank from overseas

If at any time you need to contact CommBank due to lost or stolen cards or issues accessing your funds you can do so via the following methods.¹

• Call the 24/7 emergency support line on +61 9999 3283
• Use the NetBank online portal or CommBank app to lock, cancel or order replacement cards

Travel with Wise

With a Wise Account you can hold money in over 40 currencies and spend it in over 150 countries. You can also order local account details in popular world currencies like AUD, NZD, USD, EUR, GBP to receive local and/or international payments like a local.

Whenever you exchange currencies it’s done using the mid-market rate with a conversion fee shown upfront.

To make everyday spending easier you can order a Wise Debit card for your Wise Account and generate virtual cards as needed. If you have the local currency in your Wise Account the Wise card will use it. If you don’t have local currency converted, it uses smart technology to auto-convert your money at the mid-market rate, for a conversion fee.

The Wise card may suit you better if you’re to spend money that you’ve stored in different currencies within an existing Wise Account, and benefit from 2 or less free cash withdrawals under $350 AU, or foreign equivalent, per month (keep in mind that ATM providers may charge their own fees). You can see our full fee breakdown for ATM withdrawals here.

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