NAB Gold Banking


#1

Has anyone used nab gold banking visa debit card whilst overseas? If so please leave your opinion, thanks

Renee


#2

Hi renee, looking at planning at using the nab debit card as well. been told of no fee’s etc. be good to hear from some other peoples opnions.


#3

I have both travelex and a NAB gold debit that way i have some money locked on n extange rate and some extra


#4

gold debit card is great, used it overseas before & no problems! if u have any questions about it im more than happy to help, i work for nab ha ha :slight_smile:


#5

Excuse my ignorance, but I have never heard of the NAB gold debit card. What exctly is it? and what cost are involved? BTW I’m guessing it is a debt card of some sort. I’m not that ignorant :slight_smile:


#6

I have a NAB Gold card i’m planning to use overseas too, has anyone used this to book their trip for the automatic travel insurance??


#7

the Nab cold card is A austrailian Bank card that has $10 fee per month but no charge for extanging money overseas


#8

NAB Gold Banking is an account which has a Gold Visa debit card linked to it. The benefit of the account is that firstly you have a card which functions as a credit card, but uses your own funds in your bank account. Secondly, there are no withdrawal fees, balance enquiry fees or currency conversion fees.

Travel Insurance
Because it is a Gold card, there is a complimentary Travel Insurance which is activated as long as you purchase $500 of your travel (either flights, tours, accommodation) with the card. It is underwritten by Chubb insurance. One gap on the insurance is that it covers “Interstate flights” but not intrastate flights. You should check if the insurance will cover all your travel needs.

$10 per month fee
There is a $10 per month fee, however as long as you make a deposit $5000 into the account within each month the $10 monthly fee is waived. This could be as simple as transferring $5000 into the account one day and then transferring the money out the next day to get the fee waived. In the long run, $10 for the month is a minimal amount, given what you will save in withdrawal and currency conversion fees.

It’s a great account, I have one myself…hopefully this will help everyone decide whether it is the good option. :slight_smile:

Go to the NAB website www.nab.com.au under the Personal tab and click on “Accounts” and select the Gold Banking account for more details.


#9

…just got informed at work that we (nab) will be discontinuing the gold banking as of April 28 for new & existing customers. sorry guys, guess we’ll have to find another option!


#10

so does that mean my current account I can’t use it overseas now I signed up about 3 months ago so I would have it set up before I leave not Happy Jan


#11

I went into a NAB branch today in Brisbane and asked about the gold banking and they said they know there is talk of changing the gold banking but they are unsure about whether they are changing the terms or getting rid of it altogether. The guy i was talking to did say, however, that because i already have the account I should be fine. He said the changes will only affect new customers.

So i’m a little unclear. if anyone has any information please let us all know.


#12

I was able to set up a NAB Gold Banking yesterday in Perth. The person I spoke to said NAB are discontinuing the card for new customers at the end of April and for existing customers at the beginning to June. There is no start up fees and there is $10 monthly fee still sounds like a good deal to me because of no currency conversion fees and withdrawal fees. Thanks to you all for the details of this card :slight_smile:


#13

I’ve also spoken to NAB in Brisbane, and was told as of April 28 there will be no gold banking for new customers. For existing customers, gold banking will be changing on June 8. They will be introducing international ATM withdrawal fees etc. But not until June 8.


#14

I just changed my NAB Classic Banking account to the Gold Banking purely for my trip (which, as luck would have it, ends before June 8th when they’re introducing fees to it). On their fees amendment info it says that as of June 8th they’ll be charging $4 for overseas ATM withdrawals and a conversion fee of 2% of the Aus$ transaction for cash withdrawals or purchases in other currencies.

:slight_smile: Emily


#15

I went back to different NAB branch today and they told me they are discontinuing Gold banking for new customers on the 28th April but they aren’t discontinuing it for existing customers until the 1st August but you guys are all saying 8th June. Seems like no-one really knows what’s going on.


#16

it says people with certain accounts still get the free conversion rates but I cant find what account that is and weather I have that account


#17

I ahve now canclled my NAB Gold card I only got it bacause of it’s free converson rates for oerseas I now have aplyed for a 28 degress card By GE money it is a credit card not a debit card but has all the free fetures that the Gold card used to have


#18

An alternative is the 28 Degrees MasterCard, it is issued by GE Money. (28degreescard.com.au)

It’s the only Credit Card in Aus that has no currency conversion fees or atm fees. The best way to use it is to pre load your own money on it and then withdraw cash from an ATM, that way you are using your own money (just be careful not to withdraw too much from an ATM otherwise you will then pay interest)


#19

can I pre load my own money on it I know someone who works for GE and said as it is a credit card you can’t have your own money on it


#20

If you read a lot of the reviews on the card many people do it, including a friend of mine who used it when it was still called Wizard Clear Advantage, and we are both going again in 3 weeks time.

Here is a link to a review on the card http://www.bhatt.id.au/blog/no-foreign-currency-bank-fees-travelling-28-degrees-mastercard-review/