Best travel insurance for Europe - Providers, coverage, and more
Planning a trip to Europe from New Zealand? We compared top providers based on coverage, fees and more for Kiwis.
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.
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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:
There are three main fees to consider when using your Kiwibank debit card overseas:
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.
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.
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.
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