Using your Ubank debit card abroad. The lowdown

Planning an overseas trip is exciting! But, before you leave you want to make sure you have a clear idea about how you want to handle your spending, including what cards you want to use and if you want to take some cash.

If you’re a Ubank customer, we’re going to help you understand the fees and processes associated with using your debit card abroad. We’ll also let you know about some alternative cards that are targeted more towards international spending.

💸 Hold over 40 currencies in your account and spend at the mid-market exchange rate with the Wise Debit card while abroad.

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Wise Account and card

Can you use your Ubank debit card overseas?

You can use your Ubank card anywhere that Visa cards are accepted.¹

Now that you know it’s possible, the next thing to consider is whether you want to use your Ubank card abroad?

To help you decide, we're going to delve into the facts and figures of using your Ubank debit card while travelling internationally, so that you can make an informed decision about the best way forward.

What to do before you travel abroad with your Ubank debit card

There are times when an overseas transaction can trigger your bank's security measures, leading to the card being blocked or even cancelled. This is because they have systems in place designed to detect questionable foreign activity on your card.

To help stop this from happening you can let Ubank know of your travel plans through the Ubank app.² If your card does get blocked, you can call them on +61 2 9070 0202 to resolve it.

What are the fees to use your Ubank debit card abroad

Here’s some of the main fees Ubank charges when you use your debit card outside Australia. As you can see, we’ve added the non-bank Wise Debit card as a comparison, so that you can see how Ubank stacks up.

Transaction	Ubank debit card³	Wise card
International transaction fee	No transaction fee	No transaction fee but there is a variable fee from 0.39% for converting money
International ATM enquiry	No fee	No fee
International ATM withdrawal	No fee Note: Some ATM service providers may charge their fee.	Free to withdraw $350 per month in 2 or less withdrawals. Over $350 per month is $1.50 per withdrawal + 1.75% Note: ATM service providers may charge their fee.

As seen on 2 May 2024

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information.

What is the exchange rate Ubank uses for your overseas foreign currency payments

When you spend foreign currency with Ubank it’s Visa that takes care of the currency conversion.⁴ They convert the amount you’re spending into AUD, and then Ubank deduct that amount from your account.

By comparison, Wise handles the currency conversion inhouse using the mid-market rate; the midway point between the buy and sell rates on the international currency market. It's a fair and reasonable method of determining the foreign exchange rate, and you can check it any time via the Wise app or website.

To give you an idea of how Wise and Visa compare, here’s what you’d get if you exchanged $100 AUD for USD.

Visa⁵	Wise
Exchange rate of 0.654199 $100 AUD = $65.41	Exchange rate of 0.6535 $100 AUD = $64.64 USD (fees included)

As seen on 2 May 2024

Keep in mind that this is what Visa exchanges the currency for, not necessarily what you will be charged. This is because banks have the option to add processing fees or a margin to Visa’s rate.

What are the card spending limits with Ubank debit card

Here are the Ubank debit card spending limits for you to keep in mind as you travel.³ Each limit is applied per customer, per day.

• $2000 AUD cash out at an ATM or point of sale
• Debit card purchases are limited to the balance of the account

Dedicated foreign currency travel cards from Ubank

To make purchases when travelling you could use a dedicated travel money card instead of your regular Ubank debit card. These are a few travel money cards available to Australian consumers.

• Commbank Travel Money Card
• Westpac Worldwide Wallet
• Travelex Travel Card
• Qantas Travel Card
• Travel Money Oz Currency Pass

Keep in mind before your travel

Before you jet off, here’s a few other travel finance related things to keep in mind.

• Before departing, take a look at the current mid-market exchange rate so you roughly know how AUD compares to the local currency at your destination.
• Depending on the country it may be useful to have some local cash on arrival. You could get it in advance by ordering it in Australia, use a currency exchange service at the airport or withdraw cash from a local ATM when you touch down at your destination.
• Consider getting travel insurance to protect you (and your bank balance) if the unexpected were to happen during your journey.

Blocking your Ubank card if your card gets lost or stolen abroad

If your Ubank debit card goes missing or gets stolen you can choose to block or report it.

Placing a temporary block on your card

If your card’s been misplaced but you think it could turn up again, you can temporarily block the card through the app or online.

• On the app just click the card icon and toggle on “Lock card”
• In your online banking choose “Manage card” then “Lock card”

Reporting your card as lost or stolen

If your card is lost or stolen you can call Ubank to report it. Their international phone number is +612 9070 0202, but customer service is only available during these times.

• 8am and 8pm Monday to Friday (AEST)
• 8am and 6pm on Saturday and Sunday (AEST)

Since customer service is only available at limited times, the best course of action may be to block the card as quickly as possible using the app or online banking, then call Ubank.

Contacting Ubank from overseas

If you need to speak to Ubank while abroad you can send them an online message or call on +61 2 9070 0202.

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 transparent 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 transparent 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.

Join over 16 million customers currently using Wise. It’ll only take a few minutes to register and see what’s inside.

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Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information.

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Sources:

1. Ubank - Where can I use my Visa debit card?
2. Ubank - Do I need to tell ubank I’m travelling overseas or making international transactions?
3. Ubank - Fees & limits
4. Ubank - General terms
5. Visa - Currency convertor
6. Ubank - What should I do if my Visa Debit card is lost or stolen?

Sources checked on: 2 May 2024