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  Reply # 558468 15-Dec-2011 21:12 Send private message

cb1:
dontpanic42: Oh wow. I guess I should have delved into the fees before thinking this was a good deal.
So, as soon as you activate the card you pay $1.95 a month if you don't have $500 on the card? Possibly $3.90 if you incur a monthly account inactivity fee as well?
Hmmm... maybe not for me either.

Come on AirNZ, you should have made this clearer in the original email.


I just received my card today and like you were surprised by these fees. I just called Onesmart - they say if you have a 0 balance in all accounts, you get charged one $1.95 inactivity fee, which is deducted from the balance when you do top up the NZ funds account. So won't get repeated fees accumulating.


Not sure who told you this but it's incorrect based upon everything else Air NZ have been saying over the last few weeks.

Air NZ have an image they posted on twitter a few days ago (that doesn't appear to be on their website) explaining all the fees http://twitpic.com/7qkb1s

I actually see nothing at all wrong with their fees. As a travel card it's the best value for money you'll find anywhere, and this is clearly the target market for the product.

The only thing I feel Air NZ missed out on entirely was offering no credit card fees when paying for tickets with one, this would have been a huge bonus.






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  Reply # 558474 15-Dec-2011 21:26 Send private message

That infographic explains it better than any emails or anything on their website.
It's a shame that the fee structure has been misinterpreted by many, because those people are unlikely to take a second look at the card.
Hopefully some work has been done to make the fees clearer with the information sent with the card in the mail.

Now that I understand the fee system, it actually does look like a really great deal.
I'll definitely be using it when I travel next.

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  Reply # 558538 16-Dec-2011 07:21 Send private message

dontpanic42: That infographic explains it better than any emails or anything on their website.
It's a shame that the fee structure has been misinterpreted by many, because those people are unlikely to take a second look at the card.
Hopefully some work has been done to make the fees clearer with the information sent with the card in the mail.

Now that I understand the fee system, it actually does look like a really great deal.
I'll definitely be using it when I travel next.



Air NZ get a 9/10 for the product however they really dropped the ball communicating the fee structure. Even if you use it as a regular credit card topping it up semi infrequently the fee structure makes it cheaper (at $24 per year) than virtually every credit card in  the market, and compares well with other prepaid cards such as Loaded which also charge $1 for topups.


I've used numerous travel cards over the years while travelling overseas, and this is the best value by far. No charges for ATM withdrawls is a very good deal, and I'm not aware of any other offering in NZ that features this.


     

       

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  Reply # 558539 16-Dec-2011 07:23 Send private message

dontpanic42: I'll definitely be using it when I travel next.


Yes, but to use when you travel next you have to activate it... And once active you will start paying fees. So you pay forever to use a product only a few weeks a year?

Good only for people who goes overseas every second week, I think.

 




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  Reply # 558542 16-Dec-2011 07:40 Send private message

freitasm:
dontpanic42: I'll definitely be using it when I travel next.
 
 
And once active you will start paying fees. 



This isn't true. You don't pay any fees unless you have a balance on the card.


If you activate it and don't add any money you'll pay nothing. Want to travel? Add some $ and you may pay a monthly fee while there is a balance on the card (if it's under $500). If you then use all the money on the card and your balance drops to $0 you'll once again pay no fees.

All the people who aren't activating their card are just giving those like myself a greater chance of winning the $100000 travel prize! Smile 
 

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  Reply # 558543 16-Dec-2011 07:41 Send private message

freitasm:
dontpanic42: I'll definitely be using it when I travel next.
 
Yes, but to use when you travel next you have to activate it... And once active you will start paying fees. So you pay forever to use a product only a few weeks a year?

Good only for people who goes overseas every second week, I think.

Did you look at the fee graphic that sbiddle posted? You might have misinterpreted the structure. The fees are not as dire as you make out. As long as you spend all the money that you top it up with or you load more than $500 a month you won't pay any fees.

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  Reply # 558544 16-Dec-2011 07:42 Send private message

But if you travel and leave some money on the card it will eat away, slowly. Probably similar to a credit card fee, main difference is you pay if you have balance, instead of an annual fee charged regardless.





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  Reply # 558557 16-Dec-2011 08:12 Send private message

I don't have any overseas travel planned within the next couple of years so haven't done much homework on this stuff. How do the exchange rates for this card compare with its competitors?





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  Reply # 558558 16-Dec-2011 08:14 Send private message

Recieved the card in the mail last week. Have to do couple of activations online to activate my card. Driver license activated but cannot do the white pages activation since I have opted to not list my number in the directory. Have to visit a BNZ branch or AirNZ office to verify identity manually now.




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  Reply # 558559 16-Dec-2011 08:15 Send private message

floydbloke: I don't have any overseas travel planned within the next couple of years so haven't done much homework on this stuff. How do the exchange rates for this card compare with its competitors?



Exchange rates are fixed when you buy the foreign currency, so that'll depend entirely when you buy it. 

The % margin when you top up is pretty much the stock standard rates used by other credit card companies. for foreign exchange conversions.
    
 

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  Reply # 558564 16-Dec-2011 08:54 Send private message

sbiddle: Air NZ get a 9/10 for the product however they really dropped the ball communicating the fee structure.

Agreed. Their communication has been absolutely shocking, but not at all unusual for Air New Zealand with their current approach of screwing frequent travelers while disguising it as an improvement.

The picture on twitter is clear and it does make the card look better than I had initially concluded, but I still don't think the actual product is very useful - and I would prefer Air NZ focusing on being an airline...

sbiddle: I've used numerous travel cards over the years while travelling overseas, and this is the best value by far. No charges for ATM withdrawls is a very good deal, and I'm not aware of any other offering in NZ that features this.  

To be clear it is not completely fee-free for ATM withdrawals. Any locally-imposed ATM charges will still be passed on to you, as will forex charges for withdrawing in a currency not loaded on the card.

HSBC offers free withdrawals anywhere on their network for customers (and Premier get all ATM fees refunded in some territories); and Westpac offers free withdrawals on the ATM alliance network. Those are better approaches than this card, in my view.

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  Reply # 558579 16-Dec-2011 09:29 Send private message

PenultimateHop: Entry is complimentary if you fly enough and have Gold or Gold Elite status.


But ... how do you manage that :p
Since AirNZ gone to Airpoint Dollars, status earning points has become very difficult unless you fly Premium Economy or Business Class.  Discounted economy seats gives you very few status points.  And because you need to earn these points in a 12 months you might need to fly 10x discounted "return" economy tickets overseas and then you may need to earn 80% of that every year to maintain it. 

The easiest one I think is Thai Airways with their Royal Orchid Programme,  Still Star Alliance.  One return flight to Asia or Americas gives you Silver.  But not much perks.  You still need gold to get entry to lounges though.  I think it is 50,000 miles.



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  Reply # 558592 16-Dec-2011 09:47 Send private message

Another useless card to me.




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  Reply # 558595 16-Dec-2011 09:52 Send private message

Not sure on why people are questioning Koru club. That has always been a premium product. Going by the airticket you don't normally get it for free unless you are flying business class. It's a bit like a hotel club card. In terms of accommodation how many of you regularly stay at a international chain hotel?

The fees are not that bad. I think HSBC their savings account if you don't have a min amount they have a $10 or $15 per month. Unless if you are a premium client and have $100,000 or have that amount with your mortgage. Kiwibank's Zero fee credit card has a inactivity fee if not used in 3 months as well. $15 per occasion.

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  Reply # 558737 16-Dec-2011 16:12 Send private message

After some mulling over. To me the advantage is just the debit card used overseas.

If you use the debit card in a NZ ATM there is a $1.50 fee each time ....

Comparing to my CC.
When I make a purchase.  One-smart has no comm. fee (my CC has a 2.25%).
For ATM it is "generally" free, (my CC is $7.50 + any applicable local fees).

I used to carry travelers cheques or more recently with shorter trips, I used to carry up to $3,000 cash when I departed NZ. This just means that I can use the ATM machines more freq and carry less stuff on me. For it is not a big deal, I go for 1 or 2 week trips. I could v well just carry my $2,000 or $3,000 on me......


If you want the equiv. of foreign currencies, they aren't cheap either. National Bank. For foreign usage.
$12 for enrolment.
$4AU or 2 Euro each time you make a ATM withdrawal.
They also have a 1.1% loading currency commission (min of $12).
2.5% currency commission if you don't have that currency ready (in your account).

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