Shopping online today? Look out for int’l fees ACCC says
The Australian Competition and Consumer Commission (ACCC) has warned online shoppers to look out for unexpected international transaction fees, when purchasing from major brands.
This comes shortly after Nike Inc made changes to its Australian online checkout page to make customers more aware that they may be charged an international fee. The sportswear giant made this change following an engagement with the ACCC.
Chair of ACCC Rod Sims said, “It is unclear to many consumers whether a retailer processes transactions overseas, so we expect retailers to make this clear to consumers on their websites.”
Aussie domains could charge international transaction fees
The ACCC warned shoppers that even domains with .com.au at the end could be processing transactions overseas. This means that shoppers could be hit with an international transaction fee, even when a purchase was made in Australian dollars.
Sims urged shoppers to query any unexpected international transaction fees with their bank.
“Consumers who have been charged an unexpected international transaction fee for a purchase in Australian dollars from a website that appears Australian-based or has an Australian domain name, should query the fee with their bank and report it to the ACCC,” said Sims.
Compare everyday accounts on fees
In the meantime, if you do order from international websites, then you might want to consider getting a debit card with no overseas transaction fees. Here are just a few that we found, available in the Mozo database:
Up - Everyday Account
Neobank Up’s Everyday Account transaction account comes with no overseas purchase fees and 0% foreign exchange commission. So, if you’re often using your debit card on international websites, then you might want to check out this account. The card also comes with overseas ATM access and a $0.00 overseas ATM fee from Up.
ING - Orange Everyday
Online bank ING’s Orange Everyday Account not only comes with no monthly account keeping fees, but there are also plenty of perks for online shoppers. Travel restrictions may still be in place all over the world, but with the Orange Everyday debit card you can shop on international websites without incurring a fee from ING.
HSBC - Everyday Global Account
- Keep up to ten currencies in one bank account
- $100 bonus when you open an account before 31 July 2020 (conditions apply)
- No overseas purchase fees
As the name suggests, HSBC’s Everyday Global Account is perfect for globetrotters, expats and anyone who loves to shop online from international websites. You can keep up to ten currencies on your debit card at one time, including USD, GBP, EUR, HKD, CAD, JPY, NZD, SGD and CNY.
The account comes with a $0.00 overseas purchase fee and if you open an account before 31 July 2020, you may even receive a $100 bonus. Keep in mind, you will have to be a new customer to be eligible for the deal and you will have to deposit at least $2,000 for three consecutive months - within the first six months of opening the account.
Didn’t find the bank account you were looking for? Head to Mozo’s compare debit cards page for more everyday transaction accounts available in Australia.
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