OneSmart fees changed
May 23, 13, 9:16 pm
#1
Original Poster
Join Date: Jun 2011
Posts: 78
OneSmart fees changed
Hi,
I've not used my one smart card since for some time. I used it for a month or two just after they released it, and have not used it since.
As I will soon be traveling to Europe I thought I would check it out again, as the free overseas ATM withdrawls would be quite handy.
However I see that many of the fees charged seem to have changed considerably from when it started.
For example, now you are only allowed 3 free per month overseas ATM withdrawals. And they are changing to charge a monthly account fee even when you have $0 in your NZD wallet.
The list of fees and charges at http://www.airnewzealand.co.nz/onesmart-fees seems to be two pages long.
Is there a better option than onesmart? I also have ANZ Airpoints Visa Plat + ASB Visa Classic. I dont want to have to carry many euros in my pocket.
I've not used my one smart card since for some time. I used it for a month or two just after they released it, and have not used it since.
As I will soon be traveling to Europe I thought I would check it out again, as the free overseas ATM withdrawls would be quite handy.
However I see that many of the fees charged seem to have changed considerably from when it started.
For example, now you are only allowed 3 free per month overseas ATM withdrawals. And they are changing to charge a monthly account fee even when you have $0 in your NZD wallet.
The list of fees and charges at http://www.airnewzealand.co.nz/onesmart-fees seems to be two pages long.
Is there a better option than onesmart? I also have ANZ Airpoints Visa Plat + ASB Visa Classic. I dont want to have to carry many euros in my pocket.
May 23, 13, 9:37 pm
#2
Join Date: May 2005
Location: Sydney, Australia
Programs: NZ*G ELT, VA-G
Posts: 3,187
You are not wrong. Apparently they last updated the fees on 21 May 2013 and a bunches of changes will take place on 23 July 2013.
And they want to charge you monthly fee even when you have no funds in any of your currency wallets. They have introduced Auto Wallet Transfer. Not sure how that will work. Will they deduct your Airpoints balance? Looks like I will be calling to deactivate my OneSmart.
And they want to charge you monthly fee even when you have no funds in any of your currency wallets. They have introduced Auto Wallet Transfer. Not sure how that will work. Will they deduct your Airpoints balance? Looks like I will be calling to deactivate my OneSmart.
May 23, 13, 9:53 pm
#3
Join Date: Nov 2011
Location: SYD
Programs: QFWP/LTG, VAWP, NZ*G, OZD, NH*G, Marriott Plat, IHG SpireAMB, HHD
Posts: 1,420
Originally Posted by Xiaotung
You are not wrong. Apparently they last updated the fees on 21 May 2013 and a bunches of changes will take place on 23 July 2013.
And they want to charge you monthly fee even when you have no funds in any of your currency wallets. They have introduced Auto Wallet Transfer. Not sure how that will work. Will they deduct your Airpoints balance? Looks like I will be calling to deactivate my OneSmart.
And they want to charge you monthly fee even when you have no funds in any of your currency wallets. They have introduced Auto Wallet Transfer. Not sure how that will work. Will they deduct your Airpoints balance? Looks like I will be calling to deactivate my OneSmart.
Originally Posted by OneSmart
If your Available Balance is less than any applicable fee, only the remaining Available Balance will be deducted, i.e. your OneSmart Account will not go negative to effect a fee payment.
May 23, 13, 9:55 pm
#4
Join Date: Jun 2012
Location: New Zealand
Programs: NZ*E & DL Minion. Former QF & EK
Posts: 166
Originally Posted by NZSportsTech
Hi,
I've not used my one smart card since for some time. I used it for a month or two just after they released it, and have not used it since.
As I will soon be traveling to Europe I thought I would check it out again, as the free overseas ATM withdrawls would be quite handy.
However I see that many of the fees charged seem to have changed considerably from when it started.
For example, now you are only allowed 3 free per month overseas ATM withdrawals. And they are changing to charge a monthly account fee even when you have $0 in your NZD wallet.
The list of fees and charges at http://www.airnewzealand.co.nz/onesmart-fees seems to be two pages long.
Is there a better option than onesmart? I also have ANZ Airpoints Visa Plat + ASB Visa Classic. I dont want to have to carry many euros in my pocket.
I've not used my one smart card since for some time. I used it for a month or two just after they released it, and have not used it since.
As I will soon be traveling to Europe I thought I would check it out again, as the free overseas ATM withdrawls would be quite handy.
However I see that many of the fees charged seem to have changed considerably from when it started.
For example, now you are only allowed 3 free per month overseas ATM withdrawals. And they are changing to charge a monthly account fee even when you have $0 in your NZD wallet.
The list of fees and charges at http://www.airnewzealand.co.nz/onesmart-fees seems to be two pages long.
Is there a better option than onesmart? I also have ANZ Airpoints Visa Plat + ASB Visa Classic. I dont want to have to carry many euros in my pocket.
May 23, 13, 9:59 pm
#5
Join Date: May 2005
Location: Sydney, Australia
Programs: NZ*G ELT, VA-G
Posts: 3,187
Originally Posted by pbl22
According to the T&C's, Auto Wallet Transfer simply deducts from other currency wallets the fee (at the OneSmart exchange rate) if your NZD wallet is empty. They cannot (surely?) have access to your Airpoints Dollar balance. Note the following on the OneSmart website (in the footnotes):
May 23, 13, 10:17 pm
#6
Join Date: Jun 2012
Location: New Zealand
Programs: NZ*E & DL Minion. Former QF & EK
Posts: 166
Originally Posted by pbl22
According to the T&C's, Auto Wallet Transfer simply deducts from other currency wallets the fee (at the OneSmart exchange rate) if your NZD wallet is empty. They cannot (surely?) have access to your Airpoints Dollar balance. Note the following on the OneSmart website (in the footnotes):
May 25, 13, 6:48 pm
#7
Join Date: Jan 2007
Location: Auckland NZ
Programs: NZ Gold, AS, AC, QF
Posts: 628
Agreed. I think the OneSmart is a transaction based cash generator for NZ. Not a consumer priority-driven initiative. Fees, meagre exchange rates, and you give your own money upfront to use it at less value.
Even with a 2% overseas currency fee, using my Visa card to buy things and doing the odd (weekly) cash withdrawal on my BNZ accounts is better deal--and more transparent.
Even with a 2% overseas currency fee, using my Visa card to buy things and doing the odd (weekly) cash withdrawal on my BNZ accounts is better deal--and more transparent.
Originally Posted by Saxphile
I would just use your ANZ Visa. I do not use debit cards internationally except to withdraw cash from ATMs.
May 26, 13, 12:39 am
#8
Join Date: Jan 2009
Location: New Zealand
Posts: 46
I use a BankDirect visa card for making cash withdrawals since there are no fees for using your own funds. There are the offshore margins which you would get charged for making transactions anyway and it is the Visa exchange rates.
May 26, 13, 1:24 am
#9
Join Date: Jun 2012
Location: New Zealand
Programs: NZ*E & DL Minion. Former QF & EK
Posts: 166
Originally Posted by TheRealBrendo
I use a BankDirect visa card for making cash withdrawals since there are no fees for using your own funds. There are the offshore margins which you would get charged for making transactions anyway and it is the Visa exchange rates.
Are you sure you don't pay transaction fees for withdrawing at overseas ATMs? I use HSBC, and as a Premier customer you can withdraw money at any HSBC ATM in the world without fees and no ForEx commission. I know that Citibank has the same arrangement for its Personal Banking customers. It would be quite unusual (and attractive) for BankDirect to offer it for any ATM.
May 26, 13, 2:52 am
#10
Join Date: May 2005
Location: Sydney, Australia
Programs: NZ*G ELT, VA-G
Posts: 3,187
Originally Posted by Saxphile
The BankDirect Visa card is just a Visa card with your checking account details loaded onto it so you can use it as an ATM card as well. Westpac can do the same with its credit cards.
Are you sure you don't pay transaction fees for withdrawing at overseas ATMs? I use HSBC, and as a Premier customer you can withdraw money at any HSBC ATM in the world without fees and no ForEx commission. I know that Citibank has the same arrangement for its Personal Banking customers. It would be quite unusual (and attractive) for BankDirect to offer it for any ATM.
Are you sure you don't pay transaction fees for withdrawing at overseas ATMs? I use HSBC, and as a Premier customer you can withdraw money at any HSBC ATM in the world without fees and no ForEx commission. I know that Citibank has the same arrangement for its Personal Banking customers. It would be quite unusual (and attractive) for BankDirect to offer it for any ATM.
May 26, 13, 4:10 am
#11
Join Date: Jun 2012
Location: New Zealand
Programs: NZ*E & DL Minion. Former QF & EK
Posts: 166
Originally Posted by Xiaotung
ASB used to waive any withdrawal fees as long as the card account was in credit both before and after the transaction. BankDirect is an ASB product so I wouldn't be surprised.
May 26, 13, 9:02 pm
#12
Join Date: Oct 2006
Location: Christchurch, New Zealand
Programs: NZ Elite; QF Platinum; CZ Gold; MU Platinum; Marriott Titanium; Accor Platinum
Posts: 1,262
I agree with what has been said that onesmart, now that the initial gimmickry has worn off, seems like a waste of time and money
Given that, how does one go about closing a onesmart account? Presumably all the rest of the functionality as an airpoints card only remains unaffected?
Given that, how does one go about closing a onesmart account? Presumably all the rest of the functionality as an airpoints card only remains unaffected?
May 26, 13, 11:10 pm
#13
Join Date: Sep 2005
Location: London (UK), Wellington (NZ)
Programs: AirNZ AP *GE, Aegean *G, BMI Gold, BA Exec club Gold, UA MP, QFF
Posts: 303
This is a real pity. I have used my OneSmart Card a lot. I'll look into these new charges, but if what is posted here is the case, then I think i will be looking at deactivating my account.
May 26, 13, 11:36 pm
#14
Join Date: May 2005
Location: Sydney, Australia
Programs: NZ*G ELT, VA-G
Posts: 3,187
Originally Posted by oranjemakker
Given that, how does one go about closing a onesmart account? Presumably all the rest of the functionality as an airpoints card only remains unaffected?
