Allow me to introduce you folks to our new travel community: TravelTalk NZ.

We hope to see you there!

"Your Kiwibank ATM/EFTPOS card can be used at more than 900,000 ATMs in over 120 different countries worldwide - just look for the Cirrus logo" - https://www.kiwibank.co.nz/personal-banking/life-events/going-on-holiday/

as per their site.

As others have said:

Yes for ATM withdrawls

No for EFTPOS purchases across the counter.

A word of advice, if you know you're going to need some money out for expenses, don't just do small withdrawls. Usually, there will be a currency conversion fee, the loss in the exchange rate as well, and potentially another fee from kiwibank for using another banks ATM while overseas.

I'm a westpac customer, and I know for them the currency conversion fee is 2.5% on the withdrawl, and when I was in Oz in July, i used another banks ATM, and that cost $3 for 1 withdrawl. Had I used a Westpac ATM in OZ, I would have paid the currency conversion fee, but not the $3.

You may want to check with Kiwibank to see if they are affiliated with any of the OZ banks, although I doubt it.

I'm wtih Kiwibank and have regularly used my EFTPos card for ATM withdrawals, mainly in Aus - but it is expensive. There is an upfront fee (approx $6 from memory) plus the currency conversion. The aussie ATM will typically offer you a conversion rate at the time of withdrawal. I always decline and, to date, the actual FX conversion rate applied by Kiwibank has been more favourable than the aussie rate offered at the ATM.

I say 'more favourable' with my tongue firmly in my cheek as all banks take a huge margin at your expense when it comes to currency conversion!

Never had an issue at ATM's in the first world and the USA. 😉

Once accidently used my EFTPOS card for a purchase in a Walmart in Texas - it worked OK but got stung for a hefty fee by my bank.

Ahhh, thanks for the tips travellers.

i have some oz cash but it's nice to know the plastic is there for a backup.

I too hate those fees - small tip for past me needing oz cash, flight centre does oz cash cheaper than ANZ.

I also discovered today the KB is getting out of foreign cash in Oct/Nov this year.

Also go on the kiwibank app and notify them the dates you will be overseas. It saves hassles with getting your card/s blocked.

Strange how you can't use it in Aussie, I use my ASB card in South Africa no problem, never use the ATM it's too expensive.

lNomNoml:

Strange how you can't use it in Aussie, I use my ASB card in South Africa no problem, never use the ATM it's too expensive.

If you use the correct ATMs there is no fee, and all you pay is the standard currency conversion fee which is unavoidable.

Considering Kiwibank is an NZ bank, there is probably no fee-free ATM, however for example if you are with Westpac (NZ) and use your EFTPOS card in a Westpac (AU) ATM there will be no fee.

Paying bank card currency conversion fees is actually pretty much the best conversion rate (and overall cost) that you will find. 

old3eyes:

lNomNoml:

 

Strange how you can't use it in Aussie, I use my ASB card in South Africa no problem, never use the ATM it's too expensive.

 

I discovered this when I was there in July. Unlike NZ every man and their stall takes a credit card but only Ozzy EFTPOS cards.

Are you chaps sure it was an Eftpos card and not an ASB Visa Debit?

dafman:

 

I'm wtih Kiwibank and have regularly used my EFTPos card for ATM withdrawals, mainly in Aus - but it is expensive. There is an upfront fee (approx $6 from memory) plus the currency conversion. The aussie ATM will typically offer you a conversion rate at the time of withdrawal. I always decline and, to date, the actual FX conversion rate applied by Kiwibank has been more favourable than the aussie rate offered at the ATM.

 

I say 'more favourable' with my tongue firmly in my cheek as all banks take a huge margin at your expense when it comes to currency conversion!

 

It's really surprising that Kiwibank can still charge $6 when most of the other banks have scrapped the charge. 

As for rates to say a "huge" margin isn't really correct. The rates do vary and you'd need to check but last time I looked at all the banks I found rates for ATM withdrawals ranging from around 1.1% - 2.5%. If you're only paying 1.1% with no other fees it's a pretty good deal.

Never ever opt for DCC (dynamic currency conversion) for *any* overseas purchased. It's a guaranteed way to get ripped off. International rates are under 2% for most banks now for credit card transactions and you'll probably pay at least double that if you use DCC. With ANZ for example you only pay 1.8% for credit card transaction fees, and if you have an Airpoints card which is returning 1.3% in Airpoints Dollars as well as Status Points which should be valued at ~$8 each it means you're actually better off using an ANZ credit card than something like a TransferWise card for international purchases. Lots of people have been sucked into the hype of TransferWise based on some pretty misleading claims made by TransferWise.

sbiddle: With ANZ for example you only pay 1.8% for credit card transaction fees, and if you have an Airpoints card which is returning 1.3% in Airpoints Dollars as well as Status Points which should be valued at ~$8 each it means you're actually better off using an ANZ credit card than something like a TransferWise card for international purchases. Lots of people have been sucked into the hype of TransferWise based on some pretty misleading claims made by TransferWise.