Review of Travel Card offered by Kiwibank in New Zealand

One of the biggest questions when heading abroad is how to pay for it all. A travel money card is one option where you load foreign currencies to use locally, but not all banks offer them. Instead, banks like Kiwibank offer foreign currency transactions on their existing credit or debit cards. While this can be convenient and doesn’t require another card, it can also be expensive. Read on to learn more about how Kiwibank can help you pay for expenses abroad and how a Wise card can save you money on your next trip.

Table of contents
Travel Cards Available with Kiwibank Benefits of Kiwibank Travel Cards Kiwibank Card Travel Insurance How to using Kiwibank Travel Card Overseas Paying with a Kiwibank Travel Card Using Kiwibank Travel Cards in Foreign ATMs Kiwibank Travel Card Exchange Rates Meet Wise Card: A convenient alternative Comparison: Kiwibank Travel Card vs Wise Summary

What is a Travel Money Card?

A travel money card is a prepaid travel card that can hold multiple foreign currencies. It is ideal for overseas travel because you can withdraw foreign currency from ATMs, make purchases in local currencies, and top up as needed. The currencies available depend on the travel card provider. Check exchange rates and fees when loading currencies onto the card. Since it is often a physical card, order one ahead of your trip so it arrives on time.1

Travel Cards Available with Kiwibank

While Kiwibank doesn’t offer a specific prepaid travel card, it does let new and current credit and debit cardholders use their cards to pay for expenses overseas. Here are the card options:

1. Air New Zealand Airpoints Platinum Visa - A credit card offering travel insurance

Kiwibank offers an Air New Zealand Airpoints Platinum Visa credit card that works like a regular credit card and offers additional benefits, such as Airpoints Dollars, status points, Koru membership, and travel insurance.²

1. Visa Debit Card - Similar to a regular debit card

The Kiwibank Visa Debit card is like a regular debit card that connects to your bank account and allows you to withdraw cash from ATMs and buy things online, in-store, and overseas. Cardholders can connect the Kiwibank Visa debit card to their Google Pay or Apple Pay accounts and pay while on the move.³

Benefits of Kiwibank Travel Cards

As a New Zealand traveller, here are some perks of holding a Kiwibank card when going abroad:

Air New Zealand Airpoints Platinum Visa Credit Card

The Kiwibank Air New Zealand Airpoints Platinum Visa credit card works like a regular credit card, so you will pay interest on any ongoing balance, but it comes with these benefits:^4,5

• There is no fee to join.
• You get one Airpoints Dollar for every 115 NZD spent on eligible purchases.
• Airpoint dollars never expire as long as you hold this card and remain the primary cardholder.
• You get one Status Point for every 200 NZD spent on eligible purchases.
• The primary cardholder gets 145 NZD off on a standard one-year Individual Koru membership.
• Built-in travel insurance is available if you pay for travel and accommodation before leaving New Zealand.
• This Kiwibank travel card has a minimum credit limit of 5,000 NZD.
• A balance transfer facility is available at an interest rate of 1.99% for six months.
• Other benefits include Visa Entertainment and Visa Concierge Services.
• An interest-free credit period of up to 44 days is available.

While there is no fee to open an account, a 90 NZD account fee is charged every six months. In addition, a 15 NZD fee is charged every six months for additional account holders. Check out the section below for more information on charges and fees.

Visa Debit Card

The Kiwibank Visa debit card works like a regular debit card, so the money is deducted automatically from your account, but it can be used overseas too:⁶

• It can be used to shop anywhere- domestically, overseas, online, in-store, and over the phone.
• You can withdraw foreign currency from ATMs globally that accept Visa cards.
• You can connect this Kiwibank travel card to your Google Pay or Apple Pay on supported smartphones.
• Protection against unauthorised use of your card or account is available on this Visa debit card.
• Kiwibank waives the annual fee of 10 NZD for the first year of your first card.
• Other benefits include Visa Entertainment, ticket pre-sales, and exclusive promotional offers.

Keep in mind that while overseas transactions and cash withdrawals are possible with the Visa debit card, additional charges may apply.

Kiwibank Card Travel Insurance

Kiwibank Air New Zealand Airpoints Platinum Visa Credit Card offers travel insurance benefits to cardholders if they use the card for overseas travel bookings before leaving New Zealand. Here’s a quick rundown of how it works:⁷

• You must have a Kiwibank Air New Zealand Airpoints Platinum Visa Credit Card.
• This insurance covers your spouse and dependent children if they accompany you on your trip.
• 24-hour worldwide emergency assistance is available.
• This insurance covers medical expenses, loss of damage to your belongings or travel documents, unforeseeable cancellations, delays, and loss of deposits.
• Rental vehicle access is available on this Kiwibank travel card.
• Generally, travel insurance covers are available for 40 days. However, you can seek extended coverage by calling 0800 876 541 before leaving New Zealand.

Using Kiwibank Travel Card Overseas

Using your Kiwibank travel card overseas is easy because you can use it like a regular credit or debit card. That means you can swipe, tap (if available) or insert the chip to make purchases. If you have Google Pay or Apple Pay, you can also link your accounts.

Kiwibank cards can be used anywhere Visa is accepted, online and in-store.¹⁴

But before you get started, you must activate the Overseas Travel Settings on the card using the mobile app or internet banking before travelling out of New Zealand. It helps Kiwibank protect your accounts while you travel overseas. Here are the steps to set it up:

1. Log in to the Kiwibank mobile app or online portal.
2. If using the app, go to ‘More.’
3. Click on “Settings” and proceed to “Overseas Travel.”
4. Add a travel notice mentioning the days of travel overseas, the countries you plan to visit, and the best way to contact you.

How to sign up for Kiwibank Travel Card

Signing up for a Kiwibank card is easy. Here are the steps for the credit card or debit card. ^{15, 16}

• Air New Zealand Airpoints Platinum Visa Card:

1. Access the official Kiwibank website.
2. Click on the “Apply Now” option.
3. If you are new to Kiwibank, click “Apply Online.”
4. Check your eligibility criteria.
5. Fill out the application form.
6. Provide any requested documents showing your income and employment.
7. Kiwibank processes your application.
8. Verify your identity.
9. Await credit card decision.

Existing Kiwibank customers can log into the internet banking portal and apply.

• Visa Debit card

1. Access the official Kiwibank website.
2. Click on the “Apply Now” option.
3. If you are new to Kiwibank, click “Join Now.”
4. Check your eligibility.
5. Complete the online application form and verify your identity.
6. Start using your cards and order a Visa debit card.

Existing Kiwibank customers can log into the internet banking portal and complete the application process.

Paying with a Kiwibank Travel Card

Paying with a Kiwibank travel card is the same as paying with your regular debit or credit card.

1. Use your Kiwibank travel card to make online purchases at e-commerce stores.
2. Swipe your Kiwibank travel card at merchants.
3. Use Google Pay or Apple Pay, whichever is supported on your smartphone.

Using Kiwibank Travel Cards in Foreign ATMs

You can use your Kiwibank travel card to withdraw cash in foreign currency at ATMs that accept Visa overseas. However, when getting cash abroad, keep in mind cash advance fees, interest, and foreign currency markup charges.

Kiwibank ATM Withdrawal Fees

If you need cash, withdrawing foreign currency using your Kiwibank travel card is possible, but you must pay the Kiwibank ATM fees on each withdrawal. ⁹

Type of transaction	Fees
Overseas ATM cash withdrawal fee	6 NZD per withdrawal
International Transaction Fee for Visa Debit Card	2.5% of the NZD amount once converted
International Transaction Fee for Platinum Visa Credit Card	1.85% of the NZD amount once converted10
Cash Advance Interest for Platinum Visa Credit Card	20.95% per annum

Kiwibank Travel Card Exchange Rate

Kiwibank published its foreign exchange rates that applies when you make purchases abroad or withdraw from ATMs in another currency. You'll find that these rates higher than the [mid-market rate]((https://wise.com/nz/mid-market-rates) you see on Google — and the one used by Wise.

On top of this markup on mid-market rates, Kiwibank charges a fee of 2.5% on foreign currency transactions and ATM withdrawal fees. These expenses can quickly add up to expenses and make swiping the card expensive.⁸

Meet Wise Card: an alternative travel card offering mid-market exchange

As an alternative, we invite you to check out the Wise card. Wise does not offer any reward or benefits such as cash back or travel insurance. But it does provide a straightforward [mid-market exchange rate](https://wise.com/nz/mid-market-rate] without any markups on every transaction.

Multi-currency Card Comparison: Kiwibank Travel Card vs Wise

Let’s take a look at how both cards compare:

Parameters	Kiwibank Travel Card	Wise Travel Card
Card application fee	None	One-time fee of NZD 14
Account Maintenance Fees	NZD 10 per year for debit card (waived for the first year). 90 NZD per 6-months for credit card	No recurring charges
Exchange Rate	As published by Kiwibank	Mid-market rate
ATM Withdrawal fee	6 NZD per withdrawal	Free for to up 350 NZD in a month (in 2 or less withdrawals). 1.50 NZD + 1.75% after that.
Rewards and Promotions	Available on the Platinum Visa Credit Card.	Not available.

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.

Summary

Carrying foreign currency in cash when travelling overseas is risky, and using your regular debit and credit cards can be expensive. Therefore, a travel money card proves handy because it allows you to load your foreign currency in advance and benefit from exchange rate fluctuations and foreign currency markup charges.

Kiwibank offers a credit card and debit card that can be used for travel purposes overseas, but charges and markups can make purchases expensive. As an alternative, we invite you to consider Wise Card that offers you to swipe like a local in 40+ currencies with the mid-market rates, and no ongoing fees.

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. Travel Money Card - The General Concept
2. Air New Zealand Airpoints Platinum Visa Credit Card
3. Visa Debit Card
4. Benefits of Air New Zealand Airpoints Platinum Visa Credit Card
5. Additional Benefits of Air New New Zealand Airports Platinum Visa
6. Benefits of Kiwibank Visa Debit Card
7. Kiwibank Card Travel Insurance
8. Kiwibank Travel Card Exchange Rate
9. Kiwibank ATM Withdrawal Fee
10. Kiwibank International Transaction Fee on Credit Card
11. Kiwibank card annual fees on debit card
12. Kiwibank card annual fees and limits on credit card
13. Wise Travel Card
14. Using Kiwibank Travel card overseas
15. Sign up for Kiwibank Travel Credit Card
16. Sign up for Kiwibank Travel Visa Debit Card

Sources verified on 9 June 2024.