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

If you are a New Zealand resident travelling overseas, you may be wondering how to make payments abroad. While debit and credit cards often allow for international transactions, these types of payments may also come with extra fees and markups.

Table of contents
Benefits of Travelex Travel Card Travelex Card Travel Insurance Travelex Travel Card Exchange Rate Travelex ATM Withdrawal Fees Travelex Card Annual Fees and Limits Multi-currency Card Comparison: Travelex vs. Wise Using Travelex Travel Card Overseas How to sign up for Travelex Money Card Paying with a Travelex Money Card Using Travelex Travel Card in Foreign ATMs Summary

The Travelex Travel Money Card lets you add balances in eight foreign currencies, and you can spend money as you travel. Learn more about the features and benefits of a Travelex Money Card and how it compares to a transparent and low-cost travel card like Wise.

What is a Travel Money Card?
A travel money card is a prepaid card that can be loaded with the currencies offered by the provider. It is an alternative to regular credit or debit cards for paying for purchases in the local currency when you travel abroad. Some travel money cards are also compatible with Google Pay and Apple Pay.

What is Travelex Travel Money Card in NZ

The Travelex Money card is a travel money card that holds foreign currency balances in order to make purchases or get cash abroad. New Zealand residents can use the Travelex travel card when heading overseas for studies, a holiday or work. It can be used at millions of stores, restaurants and merchants that accept Mastercard worldwide, allowing you to pay in local currencies and avoid extra international transaction charges.¹

Benefits of Travelex Travel Card

The Travelex Money Card has many features that can help make your next trip abroad easy and convenient:

• Available in eight notable currencies - US dollars, Australian dollars, Japanese Yen, Great Britain Pound Sterling, Euros, Hong Kong, Singapore, and Canadian dollars.
• Can be used anywhere Mastercard is accepted.
• Available for free when you buy it online.
• You do not need an account or membership to purchase the Travelex card.
• 24/4 global assistance is available if you encounter problems using the Travelex Money cards.
• The card works through a convenient mobile app, the Travelex Travel Money App, available on Google Play and the App Store.
• Exclusive offers are available with Mastercard Priceless Cities.
• NZ residents do not incur any ATM, EFTPOS, or online shopping fees when using the Travelex Money card.

That being said, users should note the following when using their Travelex Money card²

1. The Travelex Money Card has a maximum card limit of 75,000 NZD.
2. You can withdraw up to 3,000 NZD or equivalent currency daily at ATMs. Similarly, you are capped at spending 15,000 NZD in any 24-hour period.
3. Though Travelex does not charge any ATM withdrawal fees, some operators may charge their fees or set their limits.
4. Transacting through some online merchants may incur a surcharge.
5. The Travelex Money Card does not have your name on it. So, you must be careful when using it. Please report lost cards immediately.
6. You can move between currencies using the Travelex travel card, which comes with a Travelex Currency Transfer fee.

The Travelex Money Card can be helpful when travelling, but compare it against other options like the Wise Travel Card, which offers transparent exchange rates with no markups.

Travelex Card Travel Insurance

The Travelex Money Card does not have built-in travel insurance benefits. However, New Zealand residents can purchase a Travelex Travel Insurance policy separately whenever they travel overseas.

Travelex Travel Card Exchange Rate

The Travelex Money card is available in eight foreign currencies. To add money to your foreign currency balance, you will have to use the Travelex exchange rate to convert New Zealand dollars. Travelex NZ Mastercard Prepaid Management Service’s cost price plus a margin on exchange rate while converting currencies - which may be more expensive than the mid-market exchange rate you see on Google, and the one used by Wise.

Travelex ATM Withdrawal Fees

Travelex does not charge withdrawal fees when you use the card to withdraw foreign currency cash at ATMs overseas. However, some operators may charge their own fees and set limits, so it's better to check with the ATM before using the card.

However, Travelex charges a 2.95% fee on domestic ATM withdrawals and POS transactions.³

Travelex Card Annual Fees and Limits

Here is the Travelex travel card fee structure.³

Transaction Particulars	Fees or Charges
Initial Card Fee	Free
Distribution Outlet Reload fee in New Zealand dollars	1% of the initial load amount or 10 NZD, whichever is great.
Distribution Outlet Reload fee in foreign currency	None
Replacement card fee	Free
Bill Payment Reload fee (charged by Mastercard)	1%
Additional card	5 NZD
International ATM withdrawal	Free
Domestic ATM withdrawal	2.95%
Cash over the counter	Free
Monthly Inactivity fee (applies when you have not used the card in the previous 12 months)	4 NZD per month
24/7 assistance	Free
Travelex Money Card Closure Fee	10 NZD
Currency to currency foreign exchange rate	At the applicable foreign exchange rate
Currency conversion fee (applies when the purchase/ATM withdrawal is in a different currency or if the balance is insufficient for the transaction)	Mastercard rate plus 4% of the transaction value
Online reloads	At the applicable retail foreign exchange rate

Travelex travel cards have specific limits and currency loading charges.³

Transaction Particulars	Limits
Number of cards you may hold in your name at any point	One, excluding the linked Additional Card provided at the time of the purchase
Minimum amount for initial balance	250 NZD
Minimum amount to top up	100 NZD
The maximum amount you can load on an initial online purchase	10,050 NZD
Maximum amount for single online top-ups	10,050 NZD per single top-up
Maximum amount for top-ups within 24 hours	10,050 NZD
Maximum amount for total top-ups within 21 days	25,000 NZD
Maximum ATM withdrawal limit	3,000 NZD
Maximum balance allowed at one time across all currencies	75,000 NZD
Maximum amount you can load during a 12-month period	75,000 NZD
Maximum cash withdrawal in 24 hours	400 NZD

Multi-currency Card Comparison: Travelex vs. Wise

The Travelex Money Card is one option when considering a travel card for overseas spending. If you are considering a more flexible multi currency card, consider the Wise Travel Card. Here is how both cards compare:

Parameters	Travelex NZ Travel Card	Wise NZ Card
Available currencies - holding and exchange	8 currencies	40+ currencies
Availability for spending	Almost all countries but in the designated available currencies	Pay in local currency in 160+ countries
Initial Card fee	Free, subject to minimum load amount	One-time fee of NZD 14.
Account Maintenance fee	None for an active card; NZD 4 per month after 12 months of inactivity.	None.
Currency Exchange Rate	Set by Mastercard: service cost price plus margin on mid-market rate	Mid-market rate, which is the same as Google.
ATM withdrawal fee	Free for International withdrawals; 2.95% for Domestic withdrawals.	Free for up to NZD 350 per month with 2 or less withdrawals; 1.75% + NZD 1.50 for every subsequent withdrawal.
Receive payments	Not applicable	From 40+ currencies
Withdraw funds back to the account	Allowed when you close the card account	Available to the linked accounts

Using Travelex Travel Card Overseas

You can use your Travelex travel card in many different ways when making purchases abroad:

• Pay in local currencies for online purchases.
• Use in-store by swiping or tapping the machine.
• Withdraw cash from ATMs worldwide.
• Contactless payments are allowed for purchases up to 200 NZD.

How to sign up for Travelex Money Card

Signing up for a Travelex travel card is easy. You can order your card online and get the physical card delivered the next day. Alternatively, you can enter any Travelex store with the requisite documents and receive the card within minutes. There is no need for a membership or existing account.

Here are the steps for ordering a Travelex Money Card:⁴

• Online order

1. Visit the Travelex Money card website and click the “Buy Travelex Money Card option.
2. Specify your currency and amount.
3. Pay online.
4. Provide your passport and address proof when collecting your card.

• In-store Purchase

1. Visit any Travelex store to sign up for a Travelex travel card.
2. Carry your supporting documents—your passport, NZ driver’s license, or NZ firearms license, plus proof of your address.
3. You get your Travelex travel card instantly.

Once you receive the card, download the Travelex Travel Money App from the App Store or Google Play. You’ll have to register under “My Account” online or in the app to activate the card. After activation, you can top up with foreign currencies and check your balance either online or through the mobile app.

Paying with a Travelex Money Card

You can use your Travelex travel card like your regular credit or debit card anywhere Mastercard is accepted. You can swipe or tap for in-store purchases. Contactless payments are capped at up to 200 NZD.

Keep in mind that the Travelex travel app is not supported on Google Pay and Apple Pay. If you want a multi-currency account that is tied to your existing Google or Apple Pay wallets, check out Wise.

Using Travelex Travel Card in Foreign ATMs

With the Travelex Money Card, you can withdraw cash in foreign currencies when travelling overseas. International withdrawals through ATMs do not have ATM fees. However, the maximum withdrawal allowed in a 24-hour period is 3,000 NZD or its currency equivalent.

Summary

The Travelex Money Card is a prepaid card that New Zealand residents can hold and spend in eight foreign currencies. It lets travellers pay in local currencies and get free cash withdrawals from ATMs overseas. While it makes a great choice for certain trips, the smaller number of currencies, possibly high exchange rates and charges to close an account or for inactivity, makes shopping around a good idea.

As an alternative, we invite you you check out Wise Card lets you spend like a local in 40+ currencies with mid-market exchange rate. The Wise Travel Card offers flexible usage, more global currency options and connectivity to your Google or Apple Pay. The Wise card is accepted in over 150+ countries.

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. Travelex Money Card
2. Travelex Money Card - Things users must know
3. Travelex travel card fees
4. Supporting documents for Travelex Money Card

Sources verified on 1 June 2024.