The watchdog said even websites with a .com.au domain or ones that appear to be Australian-based could process transactions overseas, thus causing shoppers to incur an international transaction fee on their debit or credit card.

While these fees can be mitigated with a debit or credit card with no international transaction fees, regular cards can attract an additional fee of around 3%, meaning a $100 purchase could end up costing $103.

Customers might not see this fee until they check their statement.

Australian Competition & Consumer Commission (ACCC) chair Rod Sims said regular online shoppers may wish to look for a card with no international transaction fees.

“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,” he said.

“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.

“If you are making regular purchases with overseas businesses, it may be worth considering a credit or debit card with no international transaction fees or asking your bank to block international transactions for certain cards.”

Recently, the ACCC engaged with Nike to change its Australian webpage to alert customers to the fact they may be charged an international transaction fee. 

Other popular internationally-owned brands may also have an Australian-looking website but process the transaction overseas.

The ACCC urges shoppers to double-check the fine print before paying for goods online.

Popular debit cards with 0% international transaction fees include transaction account products from Up Bank, ING, UBank, HSBC, Macquarie and Citibank.

Need somewhere to store cash and earn interest? The table below features introductory savings accounts with some of the highest interest rates on the market.

Update resultsUpdate
Filters
BankSavings AccountBase Interest Rate Max Interest Rate Total Interest Earned Introductory Term Minimum Amount Maximum Amount Minimum Monthly Deposit Minimum Opening Deposit ATM Access Joint Application TagsFeaturesLinkComparePromoted ProductDisclosure
0.00% p.a.
Bonus rate of 5.50%
Rate varies on savings amount.
5.50% p.a.
$556
–
$0
$99,999
$0
$0
  • Set up your Pay Cycle and connect your accounts from over 140 financial institutions.
  • Retrace your spending steps into categories with Spending Footprint.
  • Start tapping straightaway with Apple Pay, Google Pay™, Samsung Pay, and Garmin Pay.
  • No monthly or international fees on any of your transactions.
 Disclosure
5.00% p.a.
5.50% p.a.
Intro rate for 4 months
then 5.00% p.a.
$536
4 months
$0
$249,999
$0
$0
  • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
  • No withdrawal notice periods or interest rate penalties
  • Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace
 Disclosure
4.70% p.a.
5.40% p.a.
Intro rate for 4 months
then 4.70% p.a.
$519
4 months
$250,000
$99,999,999
$0
$0
  • Special offer: Savings Accelerator (Kick Starter offer).
  • For a limited time, new ING customers can get a bonus 0.70% p.a. on their savings rate on balances of $150,000 up to $500,000 for the first 4 months. T&Cs apply.
  • If your balance is over $500,000 (but less than $5 million) you will earn the ongoing variable rate of 4.7%
 Disclosure
1.45% p.a.
Bonus rate of 3.90%
Rate varies on savings amount.
5.35% p.a.
$541
–
$0
$249,999
$200
$0
  • Increase your balance by $200 each month to earn the maximum interest
  • No account keeping fees
  • No minimum balance
  • Interest paid monthly
 Disclosure
0.55% p.a.
Bonus rate of 4.95%
Rate varies on savings amount.
5.50% p.a.
$556
–
$0
$99,999
$1,000
$0
  • Deposit at least $1,000+ each month from an external source
  • Make 5 or more eligible transactions
  • Grow your savings balance each month
 Disclosure
0.55% p.a.
Bonus rate of 4.70%
Rate varies on savings amount.
5.25% p.a.
$531
–
$0
$99,999
$2,000
$0
0.10% p.a.
Bonus rate of 5.40%
Rate varies on savings amount.
5.50% p.a.
$556
–
$0
$49,999
$200
$1
0.05% p.a.
Bonus rate of 5.30%
Rate varies on savings amount.
5.35% p.a.
$541
–
$0
$249,999
$1,000
$$formattedMinOpeningDep.format("%,d",$!{product.minimumOpeningDeposit})
0.10% p.a.
Bonus rate of 5.00%
Rate varies on savings amount.
5.10% p.a.
$515
–
$0
$99,999
$100
$1
0.01% p.a.
Bonus rate of 5.24%
Rate varies on savings amount.
5.25% p.a.
$531
–
$0
$99,999
$100
$0
0.10% p.a.
Bonus rate of 5.00%
Rate varies on savings amount.
5.10% p.a.
$515
–
$0
$49,999
$10
$0
4.85% p.a.
5.35% p.a.
$490
–
$0
$99,999,999
$0
$0
More savings accounts
  • Increase your balance by $200 each month to earn the maximum interest
  • No account keeping fees
  • No minimum balance
  • Interest paid monthly

More details
Important Information and Comparison Rate Warning

All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning



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