Is there a particular bank in China that has the best fees and withdrawal limits using an Australian ANZ Bank ATM card?
In many countries there are large fees for using ATMs that vary from bank to bank.
ATM fees with all Australian banks are already very high and include a percentage of the amount and a fixed fee.
Another thing that varies widely in some countries is how much cash you can withdraw in a single transaction.
I ran into this exact problem recently in both Laos and Vietnam. If you have to make two withdrawals to get enough cash to last a week or two you will have to pay (almost) double the fees.
Including the local, remote, and percentage fees can easily add up to the cost of one or night's accommodation in a developing country!
ANZ Bank has branches in Beijing, Guangzhou, and Shanghai. Those will probably have lower fees for ANZ ATM card users.
But many banks in one country have affiliations with banks in other countries which can include no extra fees for travelers using a card from their affiliate.
Also some banks just have lower fees or no fees and higher withdrawal limits.
Does ANZ have such a deal with a Chinese bank? If not, which Chinese bank has most favourable ATM fees and withdrawal limits for people using overseas cards?
Best Answer
Daily withdrawal limits at ATMs are set by your banks daily spend limit as well as ATM transaction spend limit.
Open a Citibank Australia debit account which has no overseas transaction fee on ATM withdrawals and use that whilst overseas. It won't solve your fixed fee imposed at the ATM but every little bit helps.
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Does ANZ charge international fees?
service provided by BPAY Pty Ltd. Overseas Transaction Fee (see note 5) ANZ will charge 3% of the value of any International Transaction charged or credited to an ANZ account.Does ANZ bank charge ATM fees?
What fee will ANZ charge for use of its ATMs by non-ANZ customers? Non-ANZ customers will be charged a fee of $2.00 for using ANZ ATMs.How much can I withdraw from ATM in China?
In an effort to give customers easier access to cash in this period of enhanced community quarantine, China Bank increased its daily ATM withdrawal limit to P50,000 from P20,000. Starting April 1, 2020, until the ECQ is lifted, China Bank ATM cardholders can withdraw up to P50,000 per day from any ATM.Can I use my ATM card in China?
While you are in China, you can use your debit card to withdraw money from a 24-hour ATM. Big cities and smaller towns all have 24-hour ATMs. However, many rural areas, such as parts of Tibet, don't have many ATMs. English interfaces are available for use on all ATMs.China’s cash crisis includes big state-owned banks and people are scared. Where has the money gone?
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Answer 2
There are a few ANZ branches in China.. If you happen to be in one of those cities, you might want to go to the ANZ banks.
- Shanghai (3 branches)
- Beijing (2 branches)
- Guangzhou (2 branches)
- Hangzhou (1 branch)
- Chongqing (1 branch)
- Chengdu (1 branch)
- Qingdao (1 branch)
Answer 3
You should check the conditions of your bank account agreement with ANZ.
Every bank offers different packages, and the withdrawal conditions are defined inside the package.
The only variable to consider is the exchange rate applied by foreign bank, but for my experience all the banks apply the same exchange rate (ruled by Bank of China).
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