Singapore Expats

Citibank ATM withdrawal overseas

Discuss the different banking options, rates, offers and perks.
Post Reply
goldenbear
Newbie
Newbie
Posts: 2
Joined: Wed, 31 Aug 2011 12:37 pm
Location: Singapore

Citibank ATM withdrawal overseas

Post by goldenbear » Wed, 31 Aug 2011 12:44 pm

Hi, I have a citibank debit card cum ATM card for my S$ account. Has anyone used it to withdraw cash in USA and I wonder how's the exchange rate compares to using c'redit card or bank TT or money changers' rate in Singapore? Citibank dont charge a fee for withdrawal from their own ATM so it seems attractive, but I often find their TT rates higher than the other banks such as DBS or even Stanchar.

Thanks for sharing your experience.

Regards
:lol:

movingtospore
Reporter
Reporter
Posts: 699
Joined: Thu, 23 Jul 2009 2:14 am

Post by movingtospore » Fri, 02 Sep 2011 9:04 pm

You will get royally sc$#ed by any bank, anywhere, anytime using your ATM to withdraw overseas. Trust me I've worked in FX. But, what do you do, it's convenient, and they know that. So, you can get a bit better rate from a local changer, but then you have to carry cash.

If you're traveling to your home country, your best bet is to keep an account there. Then, use an FX broker (mods I'm not plugging, not in this line of work anymore!) to send periodic transfers home. If you really care about rates that is.

That ATM card sure is convenient tho! Transferring through a broker takes some time and planning.

observer
Regular
Regular
Posts: 121
Joined: Wed, 13 Jan 2010 11:00 pm

Post by observer » Thu, 08 Sep 2011 8:00 am

I've been pleasantly surprised at how good the rates were for Citibank's free overseas withdrawal. I'm part of their 'citibank global' clients, so they accord me with free withdrawals at very attractive rates (I checked, and it's very close to the local money changers, sometimes even better). I've not tried it in the States though.
It's common sense - if you try to come in before I go out, I can't go out. And you can't come in! Lose-lose!

User avatar
zzm9980
Governor
Governor
Posts: 6869
Joined: Wed, 06 Jul 2011 1:35 pm
Location: Once more unto the breach

Post by zzm9980 » Fri, 09 Sep 2011 3:06 pm

Citibank looks good, and HSBC has a similar deal with HSBC ATMs. Depending where you travel, choose accordingly. e.g., you'll see a lot motre Citibanks in the US, but a lot more HSBCs everywhere else.

HSBC is no fees at HSBC ATMs, and a very fair exchange rate.

Post Reply
  • Similar Topics
    Replies
    Views
    Last post

Return to “Credit Card & Banking in Singapore”

Who is online

Users browsing this forum: No registered users and 2 guests