Review of ASB Travel Card in NZ: Complete Guide for New Zealand Residents

Travel money cards have made spending overseas easier by allowing cardholders to spend in local currencies. Learn if ASB Bank offers a travel money card and alternatives to consider when looking to spend money abroad.

Table of contents
Travel Cards Available with ASB Benefits of ASB Travel Cards ASB Card Travel Insurance Signing up for ASB Travel Card Using ASB Card Overseas ASB Card Exchange Rates Summary

Travel Cards Available with ASB

In this article, we review the top products offered by ASB that users can use as travel money cards. ¹

• ASB Visa Platinum Rewards Credit Card - A credit card with travel insurance

The ASB Visa Platinum Rewards Credit Card can be used to make purchases overseas. It allows you to withdraw cash from ATMs overseas and use the card for online and in-store shopping. In addition, you can earn exciting rewards points on your spending and the card offers travel insurance. This is not a prepaid card so you can’t load foreign currencies onto it.²

• ASB Visa Debit Card - A regular debit card linked to your savings account

ASB offers a Visa debit card with your savings accounts that can be used when travelling outside of New Zealand. This card allows you to use your money to shop online, in-store, over the phone, or anywhere in the world. And you can withdraw foreign currency from ATMs overseas. Unlike a prepaid card, you will be charged per each transaction.³

Benefits of ASB Travel Cards

ASB travel cards come with features and benefits for NZ residents travelling overseas.

ASB Visa Platinum Rewards Credit Card

Here are some of the features and benefits of the ASB Visa Platinum Rewards Credit Card.²

• Your purchases online and in-store earn you True Rewards. You can use TR$ at over 20 partner stores or while travelling overseas.
• You can earn Everyday Rewards points on your daily expenses and earn twice at Woolworths, BP, and other partners. Every 2000 points earned entitles you to receive a $15 NZD voucher that can be redeemed at partner stores.
• Overseas travel insurance is available.
• This card can be used to make contactless payments with Apple Pay, Google Pay, Fitbit Pay, or Garmin Pay.
• Withdraw cash at ATMs overseas within your card limits. However, there are foreign transaction fees and cash advance interest charges.
• Opening a new account may allow you to take advantage of bonuses and offers.

ASB Visa Debit Card

You can open a savings account with ASB and apply for a Visa Debit Card. Here are some of the features and benefits.³

1. You can use your ASB Visa Debit card at home and anywhere Visa is accepted globally.
2. Mobile payment options are available through Google Pay, Apple Pay, Fitbit Pay, and Garmin Pay.
3. You can use this ASB travel card to withdraw foreign currency while travelling overseas. However, foreign transaction fees apply for each withdrawal.
4. Offers fraud protection and dispute transaction protection features.
5. You can get exclusive offers, competitions, and concert pre-sales through Visa Entertainment.

ASB Card Travel Insurance

The ASB Visa Platinum Rewards Credit Card offers travel insurance through AIG, which cardholders must activate before travelling overseas. Here is a brief rundown of what travel insurance may cover on the ASB Visa Platinum Rewards Credit Card:⁴

1. 90-day travel insurance per overseas return trip.
2. The insurance covers your spouse and children if they accompany you on your overseas trip.
3. The insurance coverage extends to trip cancellations, accidental death, and personal injury.
4. Coverage for lost or stolen luggage, including luggage delays of 12 hours or more.
5. Medical and emergency evacuations are also covered in this travel insurance policy.

ASB Card Annual Fees

ASB Visa debit cards are available for free with your savings accounts. However, these cards come with specific daily purchases and ATM withdrawal limits. ASB Visa Platinum Rewards Credit Card limits depend on the applicant’s credit. Here is a quick breakdown of the ASB card annual fees and limits.^2,3

Fees	ASB Visa Platinum Rewards Credit Card	Visa Debit Card
Individual Account Fee	40 NZD	Not Applicable
Joint Account Card Fee	27.50 NZD	Not Applicable
Additional Card Fee per card	15 NZD	Not Applicable

How to sign up for ASB Travel Card

You can apply for the ASB travel cards online. Here’s how to sign up:
.

Steps to apply for an ASB Visa Platinum Rewards Credit Card²

• Visit the official ASB credit card website.

• Click on the “Apply Online” option.

• Existing ASB customers of 18 years and above can apply for the ASB Visa credit card by logging into their Internet banking module. Non-customers can apply for the card in two steps- click on the “Get Started” option.

• Continue with the “Join ASB” option.

• Keep your documents ready, confirm your eligibility, and get started.

• Follow the instructions and complete the application online.

• If approved, your card will be mailed to the address listed.

Steps to apply for an ASB Visa Debit Card

The ASB Visa debit card is available with your ASB savings account.³

• Access the official ASB Visa Debit Card website.

• Click on the “Apply Online” option.

• Existing customers can apply through the Fastnet Classic mode.

• New customers should click on the “Join ASB online” option.

• Choose an account, complete the online procedure, verify your identity, and get your Visa debit card after activating the account.

Using ASB Travel Card Overseas

Your ASB travel cards can be used overseas like your regular credit or debit cards. You can use it for purchases online and in-store wherever Visa is accepted. Cash withdrawals are allowed at all Visa-supported ATMs.

ASB cards are also compatible with Google Pay, Apple Pay, Fitbit Pay, and Garmin Pay.

Paying with an ASB Travel Card

It is simple to pay with your ASB debit or credit cards overseas. Just make sure the merchant accepts Visa. After that, the process will be just the same as if you were home.

Using ASB Travel Card in Foreign ATMs

If you need cash, you can use your ASB cards at ATMs worldwide that accept Visa. You can withdraw local foreign currencies from the ATMs, but keep in mind that cash withdrawals may be expensive.

Debit cards will have a 2.10% foreign exchange transaction fee, on top of the exchange rate. ATM withdrawals on debit cards are subject to daily limits of $2,000 NZD. Cash withdrawals from a credit card will have an interest rate of 22.95%, in addition to the currency conversion costs.

ASB Travel Card Exchange Rate

ASB published its exchange rates on currency conversions. So whenever you charge a purchase in a foreign currency or withdraw from an ATM overseas, your currency conversion will be subject to this published exchange rate.

On top the exchange rate markup, ASB charges an Offshore Service margin of 2.10% of the converted NZD amount for overseas transactions using the Visa debit or credit card.⁵

You'll find that ASB's exchange rates can often be higher than the mid-market exchange rate you see on Google — and the one use by Wise.

Don’t want to lose your money to extra charges? Meet Wise Card that offers currency conversions as the mid-market exchange rate without any markups.

Summary

While ASB does not offer an exclusive travel money card, the bank offers the Visa Platinum Rewards Credit Card and the Visa Debit Card that can be used abroad. The Visa credit card comes with travel insurance benefits that insure your life, personal belongings, and trip cancellations or delays. And while it is convenient to use the same card abroad as you do at home, there are charges and fees that can make your purchases more expensive.

As an alternative, we invite you to check out the Wise Card, that can be loaded with over 40+ different currencies. Wise uses the mid-market exchange rate, so you aren’t losing money to extra fees or margin charges.

Get a Wise card today 💳

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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.

Sources used for this article:

1. ASB Multi-currency Cash Passport Cards
2. ASB Visa Platinum Rewards Credit Card
3. ASB Visa Debit Card
4. ASB credit card travel insurance
5. ASB Travel Card Exchange Rate and Markups

Sources verified on 4 June 2024.