Top travel money cards in Australia.

Planning a trip abroad as an Australian can be a huge task and one that can become quite costly when foreign currencies are involved. Suddenly, foreign exchange fluctuations, margins, and international transaction fees can push your original travel budget to its limit.

Fortunately, travel money cards have been designed to help make spending overseas easier to manage. This article will introduce you to the top travel money cards in Australia including their features, fees and transaction limits.

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What is a travel money card

Travel money cards are prepaid or pre-loadable cards that can be used to make purchases while travelling overseas or at foreign online shops. Generally, These cards allow you to load Australian dollars and convert into various foreign currencies.

The benefits of using a dedicated travel money card while abroad

You may notice that a travel money card is similar to a debit or credit card, but in reality these cards can offer key benefits specific for overseas travel. Travel money cards allow you to:

• Load and hold money in multiple currencies
• Lock in favourable exchange rates
• Low or no foreign transaction fees
• Transaction security and fraud features
• Emergency assistance
• Travel offers or rewards

Each travel money card provider will offer their own list of benefits, so shopping around to find which card best suits your needs is crucial.

Here are some of the top travel cards you can get in Australia

Everyone's travel itinerary is different, so having the right card that fits your trip can make all the difference. We’ll cover the following travel cards in Australia:

1. Travelex Money Card

2. Westpac Worldwide Wallet

3. Cash Passport Platinum Mastercard

4. Commbank Travel Money Card

5. Travel Money Oz Currency Pass

6. Qantas Pay

7. Australia Post Travel Platinum Mastercard

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Travelex Money Card

The Travelex Money Card is a Canstar award-winning prepaid travel card. It is can be used to make purchases at millions of stores globally across the Mastercard network.¹

Main features & rewards¹

• Can be ordered in a Travelex store or online
• Unlimited free ATM withdrawal abroad
• Competitive exchange rates
• Load money in 10 currencies
• Free delivery of card

Fees and limits¹

Card name	Travelex Money Card*
Card order fee	Free
ATM withdrawal fees abroad	Free (unless ATM provider charges own fee)
ATM withdrawal limit	$3000 per day
Currencies	AUD, USD, EUR, GBP, NZD, THB, CAD, HKD, JP¥, SGD
International payments fee*	Free
Exchange rate used	Rate determined by Travelex or Mastercard depending on transaction² For 100 AUD, you’ll get 50.78 GBP based on 1* AUD = 0.5078 *GBP
Maximum balance limits	$50,000 Or Max of $75,000 per year
Other fees	$4 per month account inactivity fee $10 account closure fee

*Fees as of 24th June 2024

Here's some of the pros and cons of the Travelex Money Card.

Pros	Cons
Up to 10 currencies 24/7 global assistance Access to Mastercard offers Manage card in Travelex app Multiple avenues to order	Extra inactivity and closure fees Varied limits for different transaction types 1 card per holder

Westpac Worldwide Wallet

The Westpac Worldwide Wallet is a reloadable travel money card offered by Westpac and be used anywhere Mastercard is accepted.³

Main features & rewards³

• Load up to 11 currencies
• Airline Lounge access to 1000 lounges for flight delays
• Mastercard Zero Liability protection
• Access to Priceless Cities
• Cashback when shopping overseas

Fees and limits

Card Name	Mastercard Worldwide Wallet*
Card order fee	Free
ATM withdrawal fees abroad	Free at Westpac Group or an ATM in the Global ATM Network. Fees apply based on currency being drawn at ATMs outside this network
ATM Withdrawal limit	$2000 per 24 hours
Currencies	AUD, NZD, EUR, JPY, ZAR, HKD, USD, GBP, CAD, THB, SGD
International payments fee	No fee
Exchange rate used	Either the Applicable Exchange Rate by Westpac or the Mastercard rate depending on transaction⁴
Maximum loadable balance on card	$50,000 at any one time Or $100,000 per year

*Fees as of 24th June 2024

Here's some pros and cons.

Pros	Cons
Easy transfers between Westpac accounts and Worldwide Wallets Digital wallet capabilities Easy card management in app	Only AUD can be loaded Only free ATM withdrawals through specific network Must be existing Westpac customer

Cash Passport Platinum Mastercard

The Cash Passport Platinum Mastercard is a pre-loadable card that can be used across the Mastercard network globally.⁵ Unlike some other travel cards, this card is a standalone option.

Main features & rewards⁵

• Lock in favourable exchange rates
• 3 ways to reload online
• 24/7 assistance
• Contactless payments
• Purchase protection
• Card made of 100% recycled material

Fees and limits⁵

Card Name	Cash Passport Platinum Mastercard*
Card order fee	Free
ATM withdrawal fees abroad	Varied by currency withdrawn Insufficient funds in available currency or currency outside Cash Passport currency = $3.50
Maximum ATM withdrawal limit	$3000
Currencies	AUD, USD, GBP, SGD, EUR, NZD, HKD, JPY, CAD, THB, AED
International payments fee for spending 100 AUD in GBP*	Free but a margin may apply when spending in a currency not loaded on the card by a merchant.⁶ For 100 AUD, you’ll get 50.08 GBP with exchange rate of 1 AUD = 0.5008 GBP
Exchange rate used	Determined by Mastercard Prepaid⁶
Maximum loadable balance on card	$75,000 across 12 months
Minimum load required	$100 per load

*Fees as of 24th June 2024

Here are a few pros and cons of using the Cash Passport Platinum.

Pros	Cons
Top up anywhere Global assistance Dedicated app Eco certification Targeted for overseas use	Locked in rates mean you may miss more favourable fluctuations Deposits not protected under the Financial Claims Scheme Fees to withdraw money from domestic ATM

Commbank Travel Money Card

The Commbank Travel Money card is offered by the Commonwealth Bank and Visa. This card is an option for existing customers to easily access and transfer their own money between their accounts.⁷

Main features and rewards⁷

• Load up to 13 currencies
• Purchase protection up to 90 days after purchase
• Access to Visa Travel Offers
• Access to emergency cash advances
• Easy transfers between oher Commbank accounts

Fees and limits

Card Name	CommBank Travel Money Card*
Card order fee	Free
ATM withdrawal fees abroad	$3.50 AUD
Maximum ATM withdrawal limit	$2,500 per day
Currencies	USD, EUR, GBP, AUD, JPY, NZD, HKD, CAD, SGD, THB, VND, CNY, AED
International payments fee*	3% when spending in a currency not loaded For 100 AUD, you’ll get 50.23 GBP using 1 AUD = 0.5023 GBP⁹
Exchange rate used⁸	CommBank Retail Foreign Exchange Rate to load/reload Visa exchange rate to purchase/withdraw from ATM
Minimum load balance	$50

*Fees as of 24th June 2024

Here are a few pros and cons with the Commbank Travel Money card

Pros	Cons
Lock and report lost card in app Change order of currency drawdown Reload anywhere in real time in Commbank App No inactivity fees	Must be a Commbank customer Fee for ATM withdrawals abroad Must load currency to avoid 3% international transaction fee

Travel Money Oz Currency Pass

The Travel Money Oz Currency Pass is a prepaid travel card offered by Flight Centre Group. It can be used anywhere Mastercard is accepted worldwide.¹⁰

Main features and rewards¹⁰

• Load up to 10 currencies
• 24/7 assistance available
• Lock in exchange rates
• Use it worldwide
• Security chip and PIN enabled

Fees and limits¹¹

Card Name	Travel Money Oz Currency Pass*
Card order fee	Free
ATM withdrawal fees abroad	Varies by currency being withdrawn Or $3.50 for currencies outside available ones
Maximum ATM Withdrawal limit	$3000 per day
Currencies	USD, EUR, GBP, NZD, CAD, HKD, JPY, SGD, THB, AUD
International payments fee*	Free For 100 AUD, you’ll get 49.80 GBP on 1 AUD = 0.498 GBP¹⁰
Exchange rate used¹²	Mastercard Prepaid rate or Travel Oz rate depending on transaction type Margin may apply when settling in a different currency than what transaction is in.
Maximum loadable balance on card	$75,000 total per 12 months
Minimum load required	$20 for initial activation

*Fees as of 24th June 2024

Fees and limits are one thing, but here are some pros and cons of this card.

Pros	Cons
Order online or in branch Multiple online load methods Available where Mastercard is accepted Can choose default currency	1 card per customer Fees and process to move balance out

Qantas Pay

The Qantas Pay is a multi-currency reloadable travel card that is issued by Qantas and Mastercard.¹³

Main features and rewards¹³

• Load up to 10 currencies
• Fee free load options
• Earn Qantas Frequent flyer points
• 24/7 global support
• Mastercard Zero Liability

Fees and limits

Card Name	Qantas Pay*
Card order fee	Free
ATM withdrawal fees abroad	Varies per available currency
Currencies	USD, GBP, EUR, THB, NZD, SGD, HKD, CAD, JPY, AED
International payments fee	$0 For 100 AUD, you’ll get 50.23 GBP on 1 AUD = 0.5023 GBP¹³
Exchange rate used	Non-AUD payments - determined by Qantas and Mastercard Prepaid Management Services (includes a margin)¹⁴
Maximum loadable balance on card	$100,000 every 12 months
Minimum load amount	$50 per load

*Fees as of 24th June 2024

Here are a few pros and cons of using this card.

Pros	Cons
Transfer between currencies on card Security and fraud protections Points when spending in AUD and other currencies	1 card per customer Must be a Qantas Frequent flyer member Cut off time for some load methods per day

Australia Post Travel Platinum Mastercard

The Australia Post Travel Platinum Mastercard is a reloadable travel card available at eligible Australia Post outlets or online.¹⁵

Main features and rewards¹⁵

• Spend online and worldwide
• Contactless payments
• Multiple load methods including in store
• Access to 24/7 global assistance
• Load AUD and foreign currencies

Fees and limits¹⁵

Card Name	Australia Post Travel Platinum Mastercard*
Card order fee	None
ATM withdrawal fees abroad	$3.50 AUD or equivalent 2.95% of value withdrawn for domestic
Maximum ATM withdrawal limit	$3000 per 24 hour window
Currencies	USD, EUR, GBP, NZD, THB, CAD, HKD, JPY, SGD, AED, AUD
International payments fee	Free
Exchange rate used	Determined by Mastercard Prepaid
Maximum loadable balance on card	$75,000 per 12 months
Minimum load	$100

*Fees as of 24th June 2024

Here are the pros and cons associated with the AusPost Travel Platinum Mastercard.

Pros	Cons
No link to bank accounts Managed online or through dedicated app Easy replacements when lost or stolen	Locked in rates may miss more favourable ones Closure fee

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What to look for when searching for a travel card

You may notice a fair bit of cross-over features with the available travel cards on offer in the Australian market. Generally, a get a card that has:

• Low or no foreign transaction fees
• The denominated currency for your destination
• No hidden fees
• Adequate transaction limits to suit your travel needs
• Free or low fee ATM withdrawals at home and abroad
• Added insurance or security features
• Easy card management
• Global assistance

The best piece of advice is to make sure you know what you're getting up front. There’s nothing worse than seeing unknown fees being charged or your card not working somewhere.

What to keep in mind

You’ll sometimes find that when you are making a purchase overseas, you’ll get asked if you want to pay in the local currency or your home currency. This is referred to in the financial world as an offer of Dynamic Currency Conversion (DCC).

It is recommended to always pay in the local currency. Opting to pay in a different currency may attract extra fees dictated by the merchant or the card issuer.¹²

Travel with Wise – Give the Wise Account and Debit Card a try

With a Wise Account you can hold money in over 40 currencies and spend it in over 150 countries. Whenever you exchange currencies it’s done using the mid-market rate with a transparent conversion fee shown upfront.

To make everyday spending easier you can order a Wise Debit card for your Wise Account and generate virtual cards as needed. If you have the local currency in your Wise Account the Wise card will use it for local payments. If you don’t, it uses smart technology to auto-convert your money at the mid-market rate, for a conversion fee.

Join over 16 million customers currently using Wise. It’ll only take a few minutes to register and see what’s inside.

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

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Sources:

1. Travelex money card
2. Travelex exchange rates
3. Westpac travel money card
4. Westpac Exchange rates
5. Cash Passport Information
6. Cash passport margin FX
7. Commbank travel money card
8. Commbank FX fees
9. Commbank calculator
10. Travel money oz card
11. Travel money oz fees
12. Travel money oz PDS
13. Qantas Pay card
14. Qantas Pay exchange
15. Australia Post travel card

Sources checked on: 25 June 2024