Traveling overseas is an exciting experience, but managing your finances while abroad can be a source of stress. If you're a Westpac New Zealand customer, understanding the fees and processes associated with using your debit card internationally is crucial. This comprehensive guide breaks down everything you need to know about using your Westpac debit card overseas, from transaction fees and ATM withdrawals to markups on exchange rates.
We'll also introduce Wise Card as an alternative that offers international transactions at mid-market exchange rates without markups.
The short answer is yes, in most cases. Westpac debit cards are widely accepted internationally, making them a convenient option for accessing your funds while traveling. However, there are some important points to keep in mind:
Acceptance Network: Westpac debit cards operate on the Mastercard network. This means your card will be accepted at merchants and ATMs that display the Mastercard logo. Mastercard has a vast global network, so you'll likely be able to use your card in most countries you visit.
Specific Restrictions: While acceptance is generally widespread, there are a few countries and regions where using your Westpac debit card may be restricted or unavailable due to international sanctions or other factors.
As a general rule, you can use your Westpac debit card in any country where Mastercard is accepted. This includes popular travel destinations in:
Westpac has specifically identified some countries where your card will not be accepted:
Important Note: Additionally, Westpac Mastercards will not work at Russian merchants or ATMs.
It's crucial to be aware of these restrictions before you travel. If you plan to visit any of these countries or regions, you'll need to make alternative arrangements for accessing your funds.
When you use your Westpac debit card overseas, you'll likely encounter several fees. It's important to distinguish between these to budget effectively:
The exchange rate markup is often the most significant cost of using your debit card overseas. It represents the difference between the mid-market rate and the rate Westpac uses for your transaction. This difference adds up, especially on larger transactions.
For frequent travelers or those looking to minimize exchange rate markups, Wise card can offer a more cost-effective alternative.
| Feature | Westpac 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 | 1.95% | None. |
| International ATM Withdrawal Fee | NZD 3; free from selected Global Alliance ATMs | Free for first 2 withdrawals up to NZD 350 per month, then 1.75% + NZD 1.50 per withdrawal |
| Exchange Rate | As published by Mastercard | 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.
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.
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