Taking credit cards overseas assures you of ready funding whenever you need it, whether that’s for meals, merchandise, accommodation, cash withdrawals or anything else.
Commonwealth Bank credit cards from MasterCard, Visa, or American Express will all be welcomed around the world, but you should remember that American Express enjoys less widespread acceptance than the other two.
MasterCard, Visa, and American Express
If you take a Commonwealth Bank MasterCard overseas, you can withdraw cash and obtain balances from any ATM or merchant location displaying the logo that matches the one on your card
Credit cards and linked accounts
If your credit card is linked to your main savings or cheque accounts, you can access these with your Commonwealth Bank MasterCard or Visa card through any overseas ATM that displays the MasterCard, Cirrus or Maestro logos. However, this does not apply in Europe, where you can only use your credit card to access your credit card accounts. Whatever selection you make on-screen at an ATM or merchant terminal – savings, cheque, or credit account – your withdrawal will be treated as a cash advance.
General advice about credit cards overseas:
Keep a record of your card details
Make a note of your credit card numbers, including emergency contact numbers in case you quickly need to contact Commonwealth Bank should your credit card be lost or stolen. Visa, MasterCard and American Express all offer a zero-liability guarantee, but you should still inform the bank the moment a credit card overseas goes missing.
Tell Commonwealth of your travel plans
Commonwealth Bank should know that you are venturing abroad, and for how long. If not, you may find that their automated fraud-prevention systems stop your purchases because they will be deemed out of the ordinary due to their unexpected location. Make sure Commonwealth also knows when you will be back home, so that any purchases continuing abroad beyond that date are rejected – in case your details have been skimmed.
Watch out for foreign charges
Be careful of Dynamic Currency Conversion (DCC) when using your credit card overseas, which is where you are charged in Australian dollars rather than the local currency. Which currency you are charged in is 100% your choice by law. Transactions made in Australian dollars will attract a DCC fee of 4% or upwards from the foreign retailer or bank, whereas those charged in local currency are handled by Commonwealth at a lesser percentage rate.