The popular bank Westpac offers a Global Currency card for New Zealand residents travelling abroad. The card is similar to a travel money card, which lets you hold and spend money in foreign currencies abroad like a local. It can be used online, in-store, and at ATMs worldwide. Learn more about the Westpac Global Currency Card and how it works, plus see if the Wise Card can actually help you save money when overseas.

Table of contents

What is Westpac Travel Money Card in NZ Benefits of Westpac Travel Money Card Westpac Card Travel Insurance Westpac Travel Card Exchange Rate Westpac ATM Withdrawal Fees Westpac Card Annual Fees and Limits Multi-currency Card Comparison: Westpac vs Wise Using Westpac Travel Card Overseas How to sign up for Westpac Travel Card Paying with Westpac Travel Card Using Westpac Travel Card in Foreign ATMs Summary

What is a Travel Money Card?

A travel money card is a prepaid multi-currency card that allows travellers to spend in foreign currencies when travelling abroad. Depending on the provider and where you travel, you can pay in the local currency with a travel card. Travel cards can be used online or in-person at shops, restaurants or wherever the card is accepted. Some travel cards also offer free ATM withdrawals or can connect with your Google Pay or Apple Pay.

What is Westpac Travel Money Card in NZ

Westpac, a trusted bank and financial services provider, offers the Westpac Global Currency Card. This travel money card lets New Zealand residents spend like a local abroad without worrying about exchange rate fluctuations or currency markup charges. It's a prepaid multi-currency card that can be loaded with nine currencies, including the NZ dollar.

The Westpac travel card is convenient and has no monthly purchase requirement or bank transfer load fees.¹

Benefits of Westpac Travel Cards

The Westpac Travel Card has numerous benefits that can make spending money overseas seamless:

1. The Westpac travel card can be loaded with nine global currencies: US dollars, Euros, British Pound Sterling, Japanese Yen, Australian, Singapore, Hong Kong, Canadian, and New Zealand dollars.
2. You can use this card to pay for your goods online or at stores that accept MasterCard.
3. You can get foreign currency cash at all ATMs globally that accept MasterCard.
4. Since it is chip and PIN-protected, it provides an additional layer of safety when travelling overseas.
5. 24/7 global emergency assistance is available to address card issues.
6. You can switch money between different currencies online, anytime and anywhere, providing additional flexibility when travelling across multiple countries.
7. The contactless payment feature is available.
8. This card has no issuance fee, monthly maintenance fee, or fees for loading foreign currencies via bank transfer.

While the Westpac travel card does not charge any foreign transaction fee, there is a currency conversion fee when you make a transaction in a currency not loaded on it or when the balance is insufficient to complete the transaction. Check out the section below to learn more about applicable fees.³

If you are looking for a travel card that covers more of the world, try the Wise Travel card. It lets you spend in over 40 different global currencies, including Indian rupees, Mexican pesos, and UAE dirhams.

Westpac Card Travel Insurance

Westpac travel card does not have in-built travel insurance. However, you can purchase a separate travel insurance policy from Westpac to cover your travel expenses.

Some Westpac credit cards offer built-in travel insurance that covers ticket cancellations, flight delays, lost baggage, accidents, and personal injury.

Westpac Travel Card Exchange Rate

Westpac sets its own exchange rates for different currencies for the travel card. The rates can be found on the Westpac Global Currency Card website.

Since Westpac has its own rates, they can often be higher than the mid-market exchange rate you see on Google or Reuters. This can make converting from New Zealand dollars to another currency more expensive.^4,5

Looking for a way to save on high exchange rates? Wise uses the mid-market exchange rate on all transactions, which can mean having more in your balance for your trip.

Review of Wise card in NZ 👉

Westpac ATM Withdrawal Fees

Westpac travel cards do not have any fees when you use the card for cash withdrawals at ATMs overseas. However, there is a fee when withdrawing cash within New Zealand.

Transaction Particulars	Fees applicable
International ATM withdrawal (outside New Zealand)	Free, but some ATM operators may charge fees independently.
Domestic ATM withdrawal fee	4 NZD per withdrawal

Also, some ATM operators may independently charge fees.⁵

Westpac Card Annual Fees and Limits

Westpac charges specific fees and has limits on how much you load. Read them over before signing up to make sure you are aware of certain restrictions or costs: ⁶

Limit Type	Limit
The maximum number of Westpac travel cards you can hold in your name at any one time	One
The maximum amount you can load/reload on your card	25,000 NZD or currency equivalent
The maximum amount you can load/reload using a debit card in 24 hours	Any 24 hours - 15,000 NZD
The maximum amount you can load/reload using a debit card in a 7-day period	30,000 NZD
The maximum amount you can load/reload using a debit card in a 30-day period	60,000 NZD
The maximum amount you can load/reload by bank transfer	25,000 NZD
The maximum amount you can withdraw for an ATM in any 24-hour period	3,000 NZD or currency equivalent
The maximum value of POS transaction in any 24-hour period	15,000 NZD or currency equivalent
The maximum balance it can hold at any one time across all currencies	75,000 NZD
The maximum amount you can load across all currencies during a 12-month period	75,000 NZD
The minimum amount you can load or reload on the card	10 NZD or currency equivalent

Though the Westpac travel card has no issuance fees, other fees apply:

Fee Type	Fee Amount
Initial card issuance fee	Free
Replacement card	Free
Bank load transfer fee	Free
Debit card load fee	1.5% of the load amount
Monthly account inactivity fee	Free
Cash out unload fee	Free
24/7 Global Emergency Assistance fee	Free
Currency conversion fee (This fee applies when you have an insufficient balance on your card and funds are automatically converted from another currency to complete the transaction OR when you use the card in a currency different from what you have loaded.)	MasterCard Rate plus 2.95% of the transaction value

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Multi-currency Card Comparison: Westpac vs Wise

The Westpac travel card is a convenient travel money card for NZ residents, especially if you are travelling to countries where currencies are offered and already hold accounts at the bank.

However, Wise offers an excellent alternative with its Wise Travel Card, which provides travellers with low fees, the actual mid-market exchange rate and access to more global currencies.

Here is how the two cards compare:

Parameters	Westpac Travel Card	Wise Travel Card
Eligibility	NZ residents (available in AU as well)	Available in supported countries globally, including NZ and AU
Available currencies for holding and exchange	8 currencies	40+ currencies
Initial Card Fee	Free	One-time NZD 14 fee.
Account Maintenance Fee	None	None
Exchange Rate	Mastercard rate plus 2.95% of the transaction value.	Mid-market rates
ATM withdrawal fees	4 NZD for domestic withdrawals; Free for international 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	Only reloading is allowed	From 40+ currencies
Withdraw funds back to the account	Available when you close the account	Available to the linked account

Using Westpac Travel Card Overseas

You can use your Westpac travel card overseas at ATMs and merchant establishments that accept MasterCard. Signing up for a Westpac travel card is easy. Here’s how to get started:

How to sign up for Westpac Travel Card

New Zealand residents who are 18 years and over can apply for the Westpac Global Currency Card online at the official Westpac website.⁷

1. Head to the official Website Global Currency Card website.
2. Click the “Apply Now” option.
3. Complete the online application form.
4. You need a NZ passport or driver’s license to prove your identity and address.
5. You need a debit card or bank transfer facility to load currency on the card. The minimum load amount is 10 NZD.
6. Westpac verifies your application and sends the Westpac travel card to your address within 5-10 days.
7. You must activate the card and set your PIN before using it.

Paying with Westpac Travel Card

Using your Westpac travel card is easy because it works like a regular debit card at merchant establishments, online, and ATMs.⁸

• You can swipe the Westpac travel card at merchant establishments that accept MasterCard.
• You use the card to make purchases online.
• You can switch currencies within your account online.
• Westpac travel card works with Google Pay and Apple Pay on supported phones.

Your Westpac travel card cannot be used at merchant establishments that do not accept MasterCard. It also does not work across geographical regions currently affected by US sanctions, such as Cuba, Iran, North Korea, Sudan, Syria, Crimea, Donetsk, and Luhansk.

Using Westpac Travel Card in Foreign ATMs

You can withdraw cash from ATMs overseas like you use your debit cards. However, the ATM must accept MasterCard and ensure you have your PIN set up.

Summary

The Westpac travel card is an easy-to-use and simple way to make transactions in the countries where the foreign currencies offered are accepted. With low fees and convenience online, the travel card can be a good option if you have an existing debit or credit card that has high international transaction fees. However, the exchange rates for the Westpac Global Currency card can be high which means less money in your balance, and many major global currencies are not offered.

If you want flexibility with low fees and easy payments, we invite you to check out Wise Card. Wise offers currency exchange at mid-market rates and 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. Westpac Global Currency Card
2. Westpac Travel Card features and benefits
3. Westpac Currency Conversion fee
4. Westpac Global Currency Card Exchange Rate
5. Westpac travel card ATM withdrawal fees
6. Westpac travel card annual fees and limits
7. How to apply for a Westpac Global Currency Card
8. How to use your Westpac travel card

Sources verified on 2 June 2024.