this post was submitted on 27 Jun 2023
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Why UBank over ING? One benefit UBank seems to be missing is the free ATM withdrawals where ING covers the ATM vendor’s fee too. I think it’s 5 withdrawals with the fee covered. So the withdrawal is completely free. Card was pretty widely accepted payment in the US so I barely took any cash out. In Japan (my most recent trip) a little less so, but it was easy to stay under 5 withdrawals in a month.
I’m just curious because I’ll switch over to UBank for my next trip.
Have a look at the ING fees and limits PDF. They've stopped the international vendor rebates, which you only got for the first 5 transactions anyway, but they charge $5 every time you withdraw from an international ATM and also charge you 3% of the transaction. That's what they'll rebate by the looks and only the first 5 times if you meet their criteria to get the special features.
UBank doesn't have any of these requirements and just never charges those fees so no need to rebate.
Oh I didn't know the ATM vendor rebates are stopping! And foriegn transaction fee reimbursements too, that's crazy. The rebate was the main benefit it had over its competitiors when I did my research. Will be switching over for my next trip.
ING is ending their foreign transaction fee reimbursement in August.