Kiwibank - 4 November 205 Debit and Credit Card Fee Changes

Fox419 on 02/10/2025 - 20:21

I recieved the following email from Kiwibank, it has some pros and cons.

Con

From 4 November 2025, we’ll apply this fee to all international transactions, including transactions charged in New Zealand Dollars (NZD). This will be applied in the same way across our debit and credit cards.

For Kiwibank debit cards, the International transaction fee will reduce from 2.5% to 1.85% from 4 November 2025 which is in line with what this fee is on our credit cards today.  

International transactions are typically transactions where the merchant or company processing the transaction is located outside of New Zealand. These transactions are either:

Payments processed overseas and charged in a foreign currency.
Payments processed overseas and charged in New Zealand Dollars (NZD).

Some examples of payments processed overseas and charged in New Zealand Dollars (NZD) include gambling, gaming, online accommodation booking and some streaming services.

Pro

from 4 November 2025, you’ll no longer be charged several of our everyday banking fees.

This includes the Visa Debit Card annual fee, and fees associated with using an overseas ATM. If you lose or damage your card and need to order a replacement, that’ll be on us too. 

For our credit cards, we’re removing the Replacement card fee, and the Overseas ATM cash withdrawal fee.

General Discussion

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Comments

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  • felixfurtak on 03/10/2025 - 22:03
    +5

    This is a terrible policy from Kiwibank. How are you supposed to know whether the transaction that is priced in NZD is an 'overseas' processed transaction? It's impossible to tell isn't it? For example, buying an airline ticket from a foreign airline but departing in NZ (thus priced in NZD) , buying a streaming service subscription, getting a Didi or Uber?

  • razza on 03/10/2025 - 15:06

    There isnt much pros to be fair.

    I already moved to AMEX for most payments after loosing the Airpoints VISA option - but unfortunately cant avoid all transactions and still need a Visa or Mastercard as a backup. I do have a wise card so can use that I guess but it wont earn points. Anyone recommend a points earning Visa/Mastercard that works the best for lower volume? Its mainly for purchases at local small shops etc as most of those don't take AMEX .

    I'm considering ditching kiwibank there isn't much benefit to stay with them.

    • nzoutdoors on 03/10/2025 - 15:50

      I'm looking at TSB Mastercard

    • felixfurtak on 03/10/2025 - 21:54

      Amex foreign currency transaction fee is higher though isn't it? It would only be better in the narrow case of an international transaction that is in NZD.

    • baishishun on 03/10/2025 - 21:58

      dosh

  • nzoutdoors on 03/10/2025 - 15:49

    the 2.50% to 1.85% drop is not a con, it's a pro.

    • Fox419 on 03/10/2025 - 17:32

      Apologies I saw the the con part is how KB is changing International transactions to include overseas transactions in NZD, not the % part.

      But i can see the pro part of the percentage drop for the non NZD transactions.

  • felixfurtak on 03/10/2025 - 21:56

    Just get an Asb Flex. Zero margin on foreign transactions, regardless of their currency.

    I have one that I use solely for foreign stuff, and use a rewards card for everything else (apart from places that charge extra)

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