Bank of Queensland Cash Passport travel card. The Fees & Need-to-knows

When travelling overseas, you want to make the most of your money and not miss out on any fun experiences or excitement. This makes finding an easy way to access and spend your cash without high fees and charges essential.

In this guide, we’ll go through the ins and outs of the reloadable Bank of Queensland (BOQ) Cash Passport Platinum Mastercard, covering its features, cons and fees associated with using it.

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The BOQ Cash Passport Platinum MasterCard

The BOQ Cash Passport is a travel money card that can be loaded pre-departure with different currencies to spend overseas and also reloaded as needed during the trip.

Marketed by BOQ as the smarter and safer way to carry cash while travelling, the BOQ travel money card can be used just like a standard debit card to make purchases at home, online and overseas.¹

Who is this card for?

The BOQ cash passport is suited to anyone intending to travel overseas who wants to hold or spend money in one or more of the 11 supported foreign currencies. This card also works well for those who want to load their desired spending amount ahead of their trip for better budgeting.¹

What are the main features and benefits of this card

The BOQ Cash Passport comes with several features and benefits, the main ones of these being¹:

• The option to lock in favourable exchange rates
• Contactless tap-and-go payments
• Supports loading and spending of 11 major currencies simultaneously
• Accepted anywhere that accepts Mastercard payments
• Instant card top-ups using your debit card
• Fraud protection with Mastercard Zero Liability protection
• Mastercard Flight Delay pass at more than 1000 lounges (in the event that your flight is delayed by more than 2 hours)
• 24/7 global emergency assistance
• Easy on-the-go money management via the My Account mobile app
• Ability to reset PIN and instantly lock lost or stolen cards via the app
• Option to set up low balance and transaction alerts

The cons of using this card

While the BOQ travel card offers some helpful features, it does also have some potential downsides that are worth noting. These include²:

• While some major currencies are supported, several are not available with this card
• Fees may apply for loading and reloading depending on the method used
• Domestic Australian ATM transactions are subject to a 2.95% withdrawal fee
• Variable fees apply to international ATM withdrawals based on currency withdrawn
• You are only issued one physical card per account at time of opening and no virtual card option exists

The limits you get with this card

The maximum balance allowed on this card across all currencies during any 12-month period is AUD$75,000 with no more than AUD$50,000 permitted to be on the card at any one time.²

ATM withdrawal amounts in any 24-hour period are limited to AUD$3,000 or currency equivalent (some ATM operators may set their own withdrawal limits). EFTPOS transactions may not exceed AUD$15,000 or currency equivalent during any 24-hour period.²

What are the fees for this card vs Wise card

As with most travel cards, fees apply for using the BOQ Cash Passport Platinum Mastercard.

Below is an outline of the main fees associated with this card compared against an option from Wise for context.

*As seen on 17 May 2024

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

Where can you get a BOQ Cash Passport Platinum Mastercard?

To secure a BOQ travel card you will need to visit a BOQ branch in person and follow the steps outlined below.¹

How do you get a BOQ Cash Passport Platinum Mastercard?

As per BOQ’s website to obtain a BOQ Cash Passport, you must¹:

1. Find your nearest BOQ branch
2. Attend the branch in person with your driver's license or passport for identification purposes
3. Complete the application form with your details as required
4. Your card will be issued and once loaded, activated for use within 2 hours

What are the eligibility requirements for getting this card?

To be eligible to set up a BOQ Cash Passport travel card you must³:

• Be at least 16 years of age
• Be an Australian citizen or resident
• Hold either an Australian passport or driver's license for ID verification

How long does it take to get the card

Your cash passport card will be issued immediately by the BOQ branch you have applied at.¹

How to load and use the card

Loading funds onto a BOQ Cash Passport Platinum Mastercard can be done in three different ways:

• Transfer funds from debit card (instant)
• Bank transfer (takes 1 business day)
• BPAY (takes up to 2 business days)

When ordering a Cash Passport in person at a BOQ branch, you will also have the option to load your card with the assistance of a bank representative. Cash reloads can also be managed by BOQ in-branch if desired.

Alternatively, you can load your card, manage your funds, top up, set spending alerts and contact customer support through the Cash Passport website or mobile app at any time.¹

What else do I need to know?

The BOQ Cash Passport Platinum Mastercard may not necessarily be the best fit for your needs, but it is worth keeping in mind:

• Currently, no virtual card is available for use in a mobile wallet such as Google Wallet or Apple Wallet
• There is a variable fee structure for loading and reloading the card that can make some features such as instant reload less favourable
• Locking in a fixed exchange rate may or may not be beneficial depending on currency movements/volatility
• The card is only valid for 5 years after which a new card must be applied for²

Cash Passport contact details

To speak with BOQ regarding the Cash Passport Platinum Mastercard you can contact them on:

• 1300 55 72 72 in Australia or
• +61 7 3336 2420 from overseas

For Cash Passport emergency assistance, you can contact:

• 1800 098 231 within Australia or
• +44207 6499 404 when abroad

Travel with Wise

With a Wise Account you can hold money in 40+ currencies and spend it in 150+ countries. You can also order local account details in popular world currencies like AUD, NZD, USD, EUR, GBP to receive local and/or international payments like a local.

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. If you don’t have local currency converted, it uses smart technology to auto-convert your money at the mid-market rate, for a conversion fee.

The Wise card may suit you better if you’re to spend money that you’ve stored in different currencies within an existing Wise Account, and benefit from 2 or less free cash withdrawals under $350 AU, or foreign equivalent, per month (keep in mind that ATM providers may charge their own fees). You can see our full fee breakdown for ATM withdrawals here.

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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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