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Originally Posted by serfty
I am trying to relate the phrase "payable by Citibank to Visa and/or Citishare" and how it may affect the cost of FT cash when O/S.
Is my ready credit account now doomed? I will cancel it if I have to pay a ForeX fee.
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I suspect they have struck a deal with Visa to process their foreign currency transactions and they now need to pay Visa for that function.
I will probably maintain the card for its free cheque facility, and am going to evaluate its value for foreign currency cash withdrawals. It may still be useful for that purpose. On my last trip I withdrew a total amount equivalent to $547, which would have cost me an extra $13.69.
I am not interested in using travellers cheques and only want an ATM card for cash withdrawals. Prior to my Citibank card I used a Comm Bank Mastercard for this, but their charge of A$4 for using an overseas ATM would have lead to significantly more than fees than the new CB fees.