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Using Kiwibank Debit Card Internationally: Guide to Foreign Transaction Fees and Overseas ATM Withdrawals

Aditya Shrivastava

16.12.24

Read time 2 minutes

Planning a trip overseas? Your trusty Kiwibank debit card can be a convenient way to access your money abroad. However, using your Kiwibank debit card overseas comes with some additional fees and considerations compared to using it within New Zealand. This guide will equip you with the knowledge you need to avoid hidden costs and make the most of your Kiwibank debit card overseas.

We'll also introduce Wise Card as an alternative that offers international transactions at mid-market exchange rates without markups.

Table of contents
Can I Use My Kiwibank Debit Card Overseas? Kiwibank Debit Card International Fees Meet Wise: Alternative that offers mid-market rates Wise vs Kiwibank Debit Card: Fee Comparison

Can I Use My Kiwibank Debit Card Overseas?

GGenerally, yes! Most Kiwibank debit cards are Visa Debit cards, widely accepted by merchants and ATMs globally, making it easy to use your Kiwibank debit card overseas. However, there are a few things to keep in mind when using your Kiwibank Visa debit card overseas:

Informing Your Bank: Before your trip, let Kiwibank know about your travel plans. This helps prevent your card from being blocked due to suspicious overseas activity. You can easily notify them by adding a travel notice within the Kiwibank mobile app or through internet banking or by calling their customer service line.
Acceptance Network: Visa Debit cards are accepted by millions of merchants and ATMs worldwide that display the Visa logo. However, acceptance can vary depending on the specific merchant and country. It's always wise to have a backup payment method in case your Kiwibank card isn't accepted.
Unsupported Countries: There may be specific countries where international card acceptance is limited due to political or economic situations. Research your destination beforehand to avoid surprises when using your Kiwibank Visa debit overseas.

Understanding Kiwibank Debit Card Fees When Used Overseas

There are three main fees to consider when using your Kiwibank debit card overseas:

International Transaction Fee: This fee applies to every purchase you make in a foreign currency. Kiwibank charges a 2.5% international transaction fee on all overseas transactions. This fee is deducted from your account on top of the converted purchase amount.
International ATM Withdrawal Fee: Withdrawing cash from an overseas ATM with your Kiwibank debit card incurs a NZD 6 withdrawal fee on top of any fees charged by the overseas bank itself. Be sure to check the ATM operator's fees before withdrawing cash.
Foreign Currency Markup: This is a hidden cost applied when converting currencies. Kiwibank publishes its foreign exchange rates which are higher than the mid-market rates you usually see on Google. This markup can add up quickly, especially for frequent travelers using their Kiwibank debit card overseas.

Exchange Rate Markups: The Hidden Cost

The exchange rate markup is often the most significant cost of using your debit card overseas. As an alternative, we would like to introduce you to the Wise Travel Card that offers the mid-market exchange rate on currency conversion. You can use the Wise Travel Card in 150+ countries and swipe like a local to make purchases at restaurants, stores and local sites.

Meet Wise: A convenient alternative that offers mid-market exchange rates

The hidden costs associated with foreign currency markups can significantly impact your spending power. Here's where the Wise card comes in. Wise offers a compelling alternative for overseas spending by offering the mid-market exchange rate on international transactions.

Get Started with Wise 🚀

Wise vs Kiwibank Debit Card: Fee Comparison

Feature	Kiwibank Debit Card	Wise Debit Card
Card Fee	NZD 10 per year (waived for first year)	NZD 14 one-time fee (free digital card)
Foreign Transaction Fee	2.5%	Free
International ATM Withdrawal Fee	NZD 6 per withdrawal	Free for first 2 withdrawals up to NZD 350 per month, then 1.75% + NZD 1.50 per withdrawal
Exchange Rate	As published by Kiwibank	Mid-Market Rate (no markups)

Wise allows you to hold and manage money in multiple currencies and uses the mid-market rate (the one you usually see on Google) for currency conversions, with fees that are transparent and always shown upfront. With a linked debit card available for a one-time fee of NZD 14, spend abroad like a local without any currency exchange markups.

Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

Sources:

Sources verified on 15 December 2024.

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.