Complete Guide to ME Bank Travel Cards: Available Options, Fees, Exchange Rates

Travelling abroad doesn’t require carrying large amounts of cash anymore. Debit and credit cards have made international travel much more convenient. But taking it one step further, prepaid travel money cards can keep your fees low and let you spend in local currencies by withdrawing cash from ATMs or making purchases in stores and online. There is no need to worry about exchange rate fluctuations or higher transaction fees.

ME Bank offers Australian travellers options for spending overseas, whether on holiday, work or for school. Read on to learn more about what accounts at ME Bank are best suited for travel and low-cost travel cards to make your next trip a breeze. We'll also introduce you to Wise Travel Card as an alternative, that can help you save on your international travel by offering currency conversions at mid-market rates without any hidden markups.

ME Bank Travel Cards

ME Bank doesn’t offer prepaid travel cards, but if you hold a SpendME account with the bank, you’ll get a Visa debit card that can be used overseas and there are no international transaction fees.

Since the Spend ME Visa debit card is linked to your ME Bank savings account, you can’t load currency onto it as you would with travel cards. Instead, you spend down from what you have in the account. Using the same card abroad as you do at home can feel simple, but the exchange rate you get may end up costing you more than you think. More on that in a later section.

Other accounts with ME Bank can actually make your travel more expensive with international transaction fees, cross-border payment fees plus charges to withdraw cash from an ATM. Let’s look at the SpendME account first. ¹

ME Bank SpendME Account

The ME Bank Spend ME account is a popular choice for many Australians, especially those planning to travel abroad. It’s a simple savings account that comes with a Visa debit card and offers several attractive features:²

• No monthly fees: There are no monthly maintenance charges, but there are limits for withdrawals and card transactions.
• Free ATM withdrawals: Withdraw cash for free at ATMs both in Australia and abroad.
• No international transaction fees: A major plus for travellers, this can save you money compared to other banks.

The Spend ME account also offers:

• Digital banking: The ME Bank app lets you manage your account and track your spending.
• Budgeting tools: ME Bank offers budgeting tools to help you stay on top of your finances.
• Digital wallets: You can connect your card to digital wallets like Apple Pay and Google Pay for fast and easy payments with your mobile.
• Quick transfers: Send and receive money with Osko and PayID with just a phone number or email address.

ME Bank SpendME Visa Debit Card Fees

You can expect no fees for the following activities with the ME Bank SpendME Visa Debit Card:³

However, ME Bank has specific transaction limits on Visa debit card transactions:

While there is no fee for using your Visa Debit card overseas, the exchange rate you get from the bank can eat into your budget. More on that in the section on exchange rates.

Using other ME Bank Debit Card Overseas

ME Bank offers other accounts where the debit cards may be used abroad, but they are not fee-free:

• Everyday Transaction Account
• InterestME Savings Account
• ME Bank Mastercard

When using your ME Bank cards for these accounts, you may incur international transaction fees. These fees typically apply to:

1. International Purchases
2. International ATM Withdrawal

Here are the fees for the Mastercard debit cards for the non-SpendME accounts.⁴

The Everyday Transaction Account at ME Bank isn't open to new customers anymore. But if you already have one, you can still use your debit card when you travel but keep in mind the multiple fees you’ll have to pay on every transaction.

Just remember that when you use your card overseas, your Australian dollars will be converted to the local currency at the current exchange rate. It's important to be aware that banks often add a small fee to these exchange rates to cover their costs.

For the most up-to-date information on how your card works internationally, it's always a good idea to check the official ME Bank website or give them a call.

ME Bank Card Card Overseas

ME Bank has the Mastercard Frank Credit Card. While no longer accepting new applications, existing cardholders of the ME Bank Frank Credit Card can continue to use it for international travel. This Mastercard-affiliated credit card can be used for both online and in-store purchases, as well as for cash withdrawals at ATMs abroad.

For those that still have the card, here are the travel-related fees for the ME Bank Frank credit card:

Getting cash with your ME Bank Credit Card is expensive as you’ll have to pay all three - international transactions, Mastercard cross-border and Cash advance- fees. Plus an exchange rate markup.

When using the Frank Credit Card overseas, your transactions are processed in a foreign currency so there is a currency conversion process. It's important to know that these conversions may involve a hidden exchange rate markup added by the bank to cover their costs. Additionally, transaction limits may apply to your card usage while travelling.⁵

If you're looking to transfer money overseas with ME Bank, check out our guide to ME Bank International Transfers:

Travelling abroad with ME Bank Cards

Before you travel, you’ll want to let ME Bank know of your plans. You can contact them through the app or by calling 13 15 63, and inform them of your travel dates and destinations. This will help avoid your card being blocked when used abroad.

While you are travelling, be vigilant about your spending. Regularly review your account activity and report any suspicious transactions immediately. If you suspect fraudulent activity, contact ME Bank at 13 15 63 or +61 3 9708 4001 to block your card.⁶

Overall, using your ME Bank cards for international travel may be convenient and low-cost only if you have a SpendME account. Your debit card can be used anywhere Visa is accepted and you won’t have to pay an international transaction fee.

However, if you have one of the other accounts with multiple international usage fees, you will want to consider other options like a prepaid travel card. And with any ME Bank account, you can still be hit with an exchange rate markup.

The exchange rate markup is a hidden fee that is snuck into the exchange rate you get on every transaction. Banks tend to make their exchange rates more expensive than the mid-market rate, which is the rate you see on Google or Reuters, to get a cut of every transaction you convert - and to increase their bottom lines. The markup may seem small, but it can add up quickly.

Want to save money on international transaction fees and expensive exchange rates? As an alternative, we would like to introduce you to the Wise Travel Card that offers the mid-market exchange rate on currency conversion. You can use the Wise Travel Card in countries and swipe like a local to make purchases at restaurants, stores and local sites.

Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

Meet Wise: Your Smart Travel Money Card

Wise offers a convenient travel card and money transfer services that make managing your finances abroad a breeze with a linked debit card lets you spend like a local in over 150+ countries.

Open your Wise Account 🚀

Wise offers:

• Excellent exchange rates: Always get the mid-market exchange rate – the same one you usually see on Google – so you get the most out of your money.
• Low, transparent fees: Say goodbye to hidden charges and hefty markups. Wise keeps its fees low and transparent, so you know exactly what you're paying.
• Convenient card and app: Use your Wise card to swipe like a local in supported countries. Manage your money, track spending, and even freeze your card if needed, all through the Wise app .
• Cash withdrawals: Easily withdraw cash from supported ATMs abroad with low, transparent fees. But be mindful that ATM providers may charge their own cash withdrawal fees.
• International transfers: Send money abroad with the same mid-market exchange rates and low fees.