Below is some information to help you understand the changes to the International Transaction Fee coming into effect on 10th November 2026.
What's changing?
From 10 November 2026, an International Transaction Fee of 1.9% will apply to all Debit Mastercard transactions processed overseas. This fee will replace the existing Currency Conversion Fee of 1.9% and will apply whether the transaction is charged in a foreign currency or in New Zealand Dollars (NZD).
Why are we making this change?
Debit Mastercard transactions processed overseas, incur additional processing costs, even when they are charged in NZD.
As a customer-owned bank, it's important for us to manage costs fairly and sustainably for all customers. This change means some of these costs will now be covered by the customers who make these transactions. This allows us to continue investing in building a stronger bank that delivers for all our customers.
How much is the fee?
The International Transaction Fee is 1.90% of the transaction amount. For example:
- $20 transaction = $0.38 fee
- $100 transaction = $1.90 fee
- $500 transaction = $9.50 fee
What does this mean for me?
It’s not always obvious whether a transaction is processed overseas before a purchase is made. To help identify these transactions, a new country code will be displayed against internationally processed transactions descriptions in our mobile app and internet banking.
A transaction may be processed overseas even if:- it's charged in NZD
- it's made through a .co.nz website
- it's with a familiar brand or subscription service
- it appears to be a local purchase
List of common retailers who process transactions overseas
Below are the top retailers that process transactions overseas based on our customer transaction data. Please note this list is intended for guidance only and is not an exhaustive list.
| Industry | Retailers |
|---|---|
| Travel & accommodation | Uber, Bookings, Air BnB, Qantas, Philippine Airlines, Latam Airlines, E-Dreams, K Look, Get your Guide, Booking Holdings |
| Technology, software & digital services | Apple, Microsoft, Facebook, Alphabet, Adobe, Bytedance, Symantec |
| Entertainment, gaming & digital subscriptions | Spotify, Nintendo, Valve, Patreon, Ancestry, Riot Games, Sony. |
| Retail & online marketplaces | Amazon, Alibaba, Temu, Ebay, Etsy, Shein, iHerb, Direct Wines, Lego, L’Oreal, Spotlight, Shopify. |
| Gambling | Bet365, Las Vegas Gaming. |
| Creator, membership & subscription platforms | Patreon, Onlyfans |
| Crypto, Investments & Money transfers | Binance, Wirexapp, Uphold, Bifinity, Coinbase, Kraken Exchange, Moon Pay, CMC Markets, Moneygram International |
Does the fee apply to overseas ATM withdrawals?
Yes. Withdrawals from international ATMs in the local currency will continue to incur the fee. The fee will now also apply where the withdrawal is charged in NZD.
Can I use another payment method?
You can choose any payment method available to you. Different payment methods or providers may have different fees, charges and terms.