Prepaid debit cards in Australia compared

Reloadable debit cards give you freedom and allow you to spend with a card without the hassle and commitment of opening a bank account.

This article will compare some of the top available prepaid debit cards in Australia, their features and benefits. We will also introduce you to the Wise multi-currency card, another alternative altogether.

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What’s a reloadable prepaid card?

A prepaid card is a debit card that requires you to preload your cash on it to be able to spend using it. Prepaid debit cards may also be referred to as travel cards, as many options are designed to hold multiple currencies and be used while travelling overseas.

The main difference between a prepaid card and conventional bank debit and credit card is that they are not connected to a bank account. Not being connected with a bank account allows more individuals to be eligible to order a card, as there is usually no need for a credit rating check.

Sign up procedures are usually simpler than those attached with bank accounts also.

Not being directly linked with a bank account also provides better security for your funds. If your prepaid card gets stolen, only the money left on the card can be accessed if the card is not frozen in time. Some prepaid card providers even offer fraud protection insurances and the ability to lock your card through the applicable retailers app.

Here are the top Prepaid cards you can get in Australia

Whether you are looking for a prepaid card to use on your world travels or just to manage your finances better, here are some of the top prepaid Debit cards you can get in Australia, listed in no particular order.

Mastercard Prepaid Everyday Card

The Mastercard Prepaid Everyday card can be purchased at varying retailers throughout Australia. This card is exclusively offered by Mastercard.

Using this prepaid card allows you to enjoy all the travel and lifestyle benefits from partners of Mastercard worldwide.¹ More information for this prepaid card can be found here.

Australia Post Everyday Mastercard

The Australia Post Everyday Mastercard can be purchased online or at a participating Australia Post branch. It can be used anywhere Mastercard is accepted worldwide. Some of the benefits that come with this card include²:

• Easy reloading online or in-store at Australia Post
• Stand-alone card with no link to any bank account
• Contactless payments including Tap and Go and the ability to add your card to Google Pay and Samsung Pay
• Ability to make card-card transfers
• 24/7 global assistance
• Ability to use the card overseas with 11 preloaded currency options

To check out more on this prepaid card, you can visit the Australia Post dedicated web page here.

Travelex Money Card

Another partner retailer of Mastercard, the Travelex Money Card is more targeted toward travellers. Some benefits of the Travelex money card include³:

• Can be used everywhere Mastercard is accepted
• Access to free WIFI globally with Boingo (ss)
• 24/7 global assistance
• Possibility to access free ATM withdrawals overseas
• Extra discounts with Mastercard and Travelex partners

This card can be purchased through the Travelex website, over the phone or in a Travelex branch. Once the card is activated, it can be managed through your own Travelex account online.

Qantas Travel Money Card

You know the airline, but did you know Qantas has its own prepaid debit card? The Qantas Travel Money Card is claimed to be the only prepaid card that also accrues Qantas points when spending your pre-loaded cash worldwide.

Some other benefits of this card include⁴:

• Can be used everywhere Mastercard is accepted
• Earn Qantas Points on purchases (1.5 points for every $1 AUD spent internationally and 1 point every $4 AUD when used domestically.)
• 24/7 global support
• Manage your card from anywhere
• Ability to preload 11 global currencies

To order a Qantas Money card, you must sign up to be a Qantas frequent flyer member. More information on this prepaid card can be found here.

Cash Passport Platinum Mastercard

The Cash Passport Platinum Mastercard is a prepaid multi-currency card that is issued directly by Mastercard. ⁵

Some benefits include: * Accepted anywhere mastercard is worldwide

• Load and lock up to 11 currencies
• 24/7 global assistance
• Free WIFI worldwide at Boingo hotspots

This card can only be ordered online. To check out more about this card, you can visit the cash passport website here.

CommBank Travel Money Card

The CommBank Travel Money card is issued by the Commonwealth Bank. The card can be ordered online or in a branch and can be managed directly through NetBank or the CommBank mobile app. Some features included with this prepaid card include⁶:

• Accepted anywhere Visa is worldwide
• Lock in exchange rates for 13 currencies
• Low balance alerts and the ability to lock the card in-app
• Personal items coverage

This prepaid card cannot be ordered by just anyone. You must already be a CommBank customer with NetBank access. For more information, you can visit CommBank here.

Travel Money Oz Currency Pass

The Travel Money OZ Currency Pass is a prepaid currency card by Travel Money Group. T Some features include⁷:

• Use anywhere Mastercard is accepted globally
• Lock up to 10 currencies to be ready to spend abroad

This card can only be ordered and managed online through their localised account platform. To order or know more about this prepaid card, visit the website here.

All prepaid cards at a glance: Fees, limits and currencies

Fees as seen on 9 July 2022

How can I get a prepaid credit or debit card?

Each prepaid card provider will have different eligibility and document requirements to order a card. Here are some common eligibility requirements and documents you may need to have to be able to order any one of the above listed prepaid cards.

• Be of adult age
• Have a valid Australian residential address
• Possible need for existing membership with certain providers
• Valid email address or phone number
• Provide 100 points of ID to verify your identity (based on the Australia ID points system)

This list is not exhaustive, so be sure to check with your prepaid card retailer of choice for their specific requirements.

The Wise Debit card

If you like the sound of any of the above prepaid cards, here's another alternative option to check out - The Wise Debit card. Although the Wise Debit is not a reloadable card in the traditional sense, the multi-currency account it is connected to can easily be topped up through your Wise account or with a local bank transfer.

The Wise multi-currency account allows you to receive money in 10 local foreign currencies and hold 40+ currencies. If you aren’t interested in holding, you can use the Wise Debit card to spend in 150+ countries, enjoying access to the mid-market exchange rate and low transparent transfer fees.

See card pricing for yourself and join over 12 million customers currently enjoying Wise.

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Please see Terms of Use and product availability for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

Sources:1. Mastercard Prepaid card
2. Australia Post prepaid Mastercard
3. Travelex Money Card
4. Qantas Money Card
5. Cash Passport Mastercard benefits
6. CommBank travel card benefits
7. Travel Oz Money Card benefits
8. Qantas card fees
9. Cash Passport fees and charges
10. Travel Oz card fees and limits