Travel Money Comparison

Discover how far your travel money can take you.

Whether you need multiple currencies for your Eurotrip or are planning how to pay your way through Peru, we’ve got you covered when it comes to comparing your travel money options for your next overseas holiday.

Travelling overseas involves a lot of planning, but organising your travel money isn’t something you want to procrastinate. You’re not strapped for options when it comes to choosing the right travel money tool, but there’s no one perfect solution. Instead, the best option will depend on your finances, spending habits and travel plans. To make things easier for you, we’ve summarised the features, benefits, drawbacks and costs of the major travel money alternatives available on the Australian market to help you compare and find the right one for you.

Which option is right for your next trip?

Travel Money Card Comparison

Rates last updated May 25th, 2016
Available Currencies ATM Withdrawal Fee Reload Fee Initial Load Fee
ANZ Travel Card
ANZ Travel Card
AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD, AUD 3.50, CAD 3.00, EUR 2.20, GBP 2.00, HKD 20.00, JPY 260, NZD 4.50, SGD 4.00, THB 95, USD 2.50 1.1% of the value purchased $0 Go to site More
Multi Currency Cash Passport
Multi Currency Cash Passport
AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD $0 for International ATM withdrawal and 2.95% of the amount withdrawn in Australia $0 $0 Go to site More
Travelex Travel Card
Travelex Travel Card
AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD Travelex does not charge an ATM withdrawal fee when you use your Travelex Multi-currency Cash Passport to withdraw currencies that are loaded on the card at overseas ATMs where MasterCard is accepted. The greater of 1.1% of the initial load / reload amount or AU$15.00 $0 Go to site More
Rates last updated May 25th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Bankwest Qantas Platinum MasterCard
Earn 8,000 Bonus Qantas Points. Included travel and accident insurance and payment protection. No foreign transaction fees on online or overseas spend.
20.49% p.a. 2.99% p.a. for 9 months $160 p.a. Go to site More info
Bankwest Zero Platinum MasterCard
An introductory offer on balance transfers with $0 annual fee. Complimentary travel insurance & 24/7 Concierge service and $0 foreign transaction fees.
17.99% p.a. 2.99% p.a. for 9 months $0 p.a. Go to site More info
Coles Rewards Mastercard
Earn 2 flybuys points for every $1 spent and no foreign transaction fees for online purchases and overseas trips.
19.99% p.a. 0% p.a. for 6 months $89 p.a. Go to site More info
28 Degrees Platinum MasterCard
Benefit from no international transaction fees on purchases, no currency conversion fees and no annual fee.
21.99% p.a. $0 p.a. Go to site More info
Bankwest Qantas Gold MasterCard
Earn more points with the Qantas Frequent Flyer rewards program when you make eligible purchases and also get the chance to receive 4,000 bonus Qantas Points when you sign up, plus stay protected with a comprehensive travel insurance.
20.49% p.a. 2.99% p.a. for 9 months $150 p.a. Go to site More info
Bankwest More Platinum Mastercard
$0 foreign transaction fees and complimentary insurance cover.
19.99% p.a. 2.99% p.a. for 9 months $130 p.a. Go to site More info
Rates last updated May 25th, 2016
$
Monthly Account Fee Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Details
Citibank Plus Everyday Account
Enjoy 5% cash back on Visa payWave purchases (conditions apply).
Free international money transfers and free overseas Citibank ATM withdrawals.
Visa $0 $0 No ATM fees using Citibank, Westpac, BankSA and St.George branded ATMs in Australia. Use overseas Citibank ATMs for free. Open More
Westpac Choice
Pay no ATM withdrawal fee at eligible ATMs overseas.
Mastercard $0 $2,000 No ATM fees when using St.George, Westpac, BankSA or Bank of Melbourne ATMs in Australia. Deposit at least $2,000 per month and enjoy no monthly service fee. Open More
Bankwest Platinum Debit MasterCard
Earn points on your balances and every time you use your debit card. Plus no overseas ATM withdrawal fees
Mastercard $0 $4,000 No overseas ATM fees charged by Bankwest, No monthly account fee when you deposit at least $4,000 per month. Open More

A quick comparison of travel money cards

Travel Money Feature

Prepaid Travel Card

View cards

Credit Card

View cards

Debit Card

View cards

Fees
No currency conversion feesYesYesNo
No ATM withdrawal feesYesYesYes
No initial currency load feeNo--
Currency
Pre-load currenciesYesNoNo
Instant reload (no delay)Yes--
Convenience
Worldwide acceptanceYesYesYes
Emergency cash facilityNoYesNo
Purchase over the counter (EFTPOS)YesYesYes
Security
Chip & Pin protectionYesYesYes
Emergency card replacementYesYesNo
Backup cardsYesNoNo
Account management
Mobile applicationYesYesYes
Online account loginYesYesYes
Rewards
Reward points for spendingYesYesYes
Frequent flyer benefitsNoYesNo
Promotional interest rates
(0% purchases, 0% balance transfers)
NoYesNo

Latest pro tips for using your money overseas:

The Top 10 travel destinations for Australians in 2016Aoraki & Lake Pukaki | Canterbury

Learn where Aussies are escaping to this year and the best ways to take your travel money to each destination. Read this guide >>.


How to avoid travel money fees and charges travelling overseasatmfee

Travelling soon? Save money and learn how to avoid the hidden fees and charges using a travel card overseas. Read this guide >>.


How to reclaim money from your travel cardCurrencybags

So you didn’t get the time to shop as much as you’d planned, and you’ve still got preloaded foreign currency left unspent on your travel money card. All isn’t lost. You can still get that money back. Read on to learn how >>.


What to do if your travel card is lost, damaged or stolen
pickpocket

Maybe you’ve misplaced the card or your PIN, or maybe it was stolen from right under your nose. Learn the exact steps to take and be prepared when you go overseas. Read this guide >>.


What happens when your prepaid card doesn't support the local currencyspendingoverseas

Although prepaid travel cards let you lock in currencies before you go overseas, not all currencies are supported. Here are the options to pay less fees and ensure you get the best rates. Read this guide >>.


How to decide which type of travel money card is for you?

The right travel money option for you will depend on your holiday destination, how you plan to use the card and what you can afford. Prepaid travel cards, credit cards and debit cards all have their uses, but the differences lie in their features and fees. As such, many travellers opt for more than one type for greater convenience and security.

Here you can compare the different travel money options available on the Australian market to discover which one offers you the best value for your next holiday.

 Prepaid Travel Money Cards

When you load Australian dollars onto a prepaid travel card, you can transfer them into the supported currencies (such as USD, UKD and NZD) so that you can spend or withdraw your own funds without the cost of currency conversion fees while overseas. To determine whether a travel card is the right choice for you, weigh up some of the pros and cons below.


anz-travel-card-hp

Benefits of using a prepaid travel card

  • Multiple currencies. You can use your travel card to convert your Australian dollars into your chosen supported currency. When you spend in a supported and loaded currency, you can avoid the currency conversion fees you’d usually be charged if you were using an Australian card overseas.
  • Locked-in exchange rates. When you convert your Australian dollars into the supported foreign currency, the funds will be locked in at the exchange rate at the time. Depending on which way the currency goes, this can be a good way to avoid negative exchange rate fluctuations while you’re travelling.

Things to consider using prepaid travel cards

  • Availability. Most Australian prepaid travel cards are either Visa or MasterCard, meaning you can use them worldwide. While you can still use your card if the local currency is loaded or supported by your card, you’ll incur a currency conversion fee.
  • Fees. The fees you’ll have to pay will depend on the card, but some include a purchase fee, loading or reloading fee, currency conversion fee, inactivity fee and account closure fee.
  • Currencies. Your prepaid travel card will support a number of foreign currencies, though the exact ones will depend on the individual card. Look out for cards that support the local currency of your travel destination, otherwise you’ll have to shell out currency conversion fees each time you spend.

Read the full guide to using prepaid travel money cards

Compare prepaid travel money cards

Rates last updated May 25th, 2016
Available Currencies ATM Withdrawal Fee Reload Fee Initial Load Fee
ANZ Travel Card
ANZ Travel Card
AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD, AUD 3.50, CAD 3.00, EUR 2.20, GBP 2.00, HKD 20.00, JPY 260, NZD 4.50, SGD 4.00, THB 95, USD 2.50 1.1% of the value purchased $0 Go to site More
Multi Currency Cash Passport
Multi Currency Cash Passport
AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD $0 for International ATM withdrawal and 2.95% of the amount withdrawn in Australia $0 $0 Go to site More
Travelex Travel Card
Travelex Travel Card
AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD Travelex does not charge an ATM withdrawal fee when you use your Travelex Multi-currency Cash Passport to withdraw currencies that are loaded on the card at overseas ATMs where MasterCard is accepted. The greater of 1.1% of the initial load / reload amount or AU$15.00 $0 Go to site More
Rates last updated May 25th, 2016
Currency Conversion Fee Monthly Inactivity Fee Multiple Currencies on One Card Maximum Load Amount
ANZ Travel Card
ANZ Travel Card
3% $3 Yes $80,000 Go to site More
Multi Currency Cash Passport
Multi Currency Cash Passport
5.95% $4 Yes $100,000 Go to site More
Travelex Travel Card
Travelex Travel Card
5.95% AU$4.00 per month No $100,000 Go to site More
CASE STUDY: Do your homework first

Jeremy stood shoulder to shoulder with locals and tourists, trying to keep his footing as the metro made its way towards the Colosseum. As more and more people packed onto the train, Jeremy lost his girlfriend to the glacial movement of the crowd pulling her towards the back. When he felt a brush against his rear, he was a little surprised but thought nothing of it and put it down to one of those 'packed train moments'.A moment was all the pickpocket needed to steal Jeremy's wallet.

Jeremy got on the phone to his card protection service, Secure Sentinel. A call to this service is supposed to be the 'one stop shop' for cancelling cards, but Jeremy ended up having to call each bank separately, which led to a number of frustrating hours spent on the phone, instead of hours negotiating in Italy's famous tourist traps.

Luckily for Jeremy, he had done his homework. Jeremy is a publisher at finder.com.au, so he knew to get a prepaid card before he left - they come with a backup. To his girlfriend's delight, the backup card saved their trip and they were back on the streets of Rome the next day; albeit with an eye on their pockets. It almost wasn't such a sure thing. Like any smart traveller should, Jeremy had done his research before he left the country and he knew to spread his money between a couple of cards and his girlfriend.

Be like Jeremy and do your homework before you leave.

Back to top

 Travel Credit Cards

Enjoy financial security, flexibility and extra features with a credit card. Look for a credit card that is designed for overseas use, preferably one that doesn’t charge currency conversion fees, foreign transaction fees or overseas ATM withdrawal fees. If you have a prepaid or debit card for everyday purchases, you might want to leave your credit card for emergencies. Plus, credit cards come with features like overseas travel insurance, a concierge service and rewards programs that could come in handy on your travel. Credit cards tend to be expensive though, so you can weigh up the costs and the benefits here.


bankwest-zero-platinum-hp

Benefits of using a credit card overseas

  • Access to credit. Credit cards offer greater financial flexibility than debit or prepaid cards. A line of credit is often larger than your savings, which can come in handy for large or emergency purchases. Remember that you have to repay everything you charge (plus interest) to the card.
  • Rewards. Earn rewards points as you spend on eligible purchases or, even better, bonus points when you spend overseas. These cards are typically more expensive though, so make sure that the value of the rewards you redeem will outweigh the costs.
  • Extras. Credit cards designed for overseas use often come with travel perks such as complimentary overseas travel insurance, purchase protection and concierge services.

Considerations when using credit cards for travel

  • Availability. Most Australian credit cards are Visa, MasterCard or American Express, so you should be able to use them widely around the world. Some cards can’t be used in some locations (such as Cuba, Iran, Myanmar, North Korea, Sudan and Syria) due to economic sanctions. Check with the provider to confirm whether your card can be used in your holiday destination before you leave.
  • Fees. If you use your regular credit card overseas, it’s likely you’ll be charged currency conversion or foreign transaction fees. You’ll also be charged cash advance fees if you use your card for ATM withdrawals. Cards designed for overseas use tend to come at a cost, so make sure that the cost of the annual fee doesn’t outweigh the benefits you get from the card. Unless you have a card with 0% on purchases or interest-free days, all purchases will also collect interest.
  • Currencies. Look for a card that doesn’t charge currency conversion or foreign transaction fees, otherwise you’ll rack up fees every time you use your card for purchases in the local currency on your holiday.

Compare the full range of Travel Credit Cards with our complete guide

Compare travel-friendly credit cards

Rates last updated May 25th, 2016
Purchase rate (p.a.) Overseas ATM Withdrawal Fee Foreign Currency Conversion Fee (MC) Annual fee
Bankwest Qantas Platinum MasterCard
Earn 8,000 Bonus Qantas Points. Included travel and accident insurance and payment protection. No foreign transaction fees on online or overseas spend.
20.49% p.a. $0 0% of transaction value $160 p.a. Go to site More info
Bankwest Zero Platinum MasterCard
An introductory offer on balance transfers with $0 annual fee. Complimentary travel insurance & 24/7 Concierge service and $0 foreign transaction fees.
17.99% p.a. $0 0% of transaction value $0 p.a. Go to site More info
Coles Rewards Mastercard
Earn 2 flybuys points for every $1 spent and no foreign transaction fees for online purchases and overseas trips.
19.99% p.a. $4 0% of transaction value $89 p.a. Go to site More info
28 Degrees Platinum MasterCard
Benefit from no international transaction fees on purchases, no currency conversion fees and no annual fee.
21.99% p.a. $0 0% of transaction value $0 p.a. Go to site More info
Bankwest Qantas Gold MasterCard
Earn more points with the Qantas Frequent Flyer rewards program when you make eligible purchases and also get the chance to receive 4,000 bonus Qantas Points when you sign up, plus stay protected with a comprehensive travel insurance.
20.49% p.a. $0 2.95% of transaction value $150 p.a. Go to site More info
Bankwest More Platinum Mastercard
$0 foreign transaction fees and complimentary insurance cover.
19.99% p.a. $0 0% of transaction value $130 p.a. Go to site More info
Back to top

 Travel Debit Cards

Travel debit cards draw funds from a savings account and enable you to access your funds whilst overseas and manage your budget. The advantages of using a debit card can include international ATM alliances and no withdrawal fees, no currency conversion fees on foreign transactions and access to your savings.


citibank-plus-transaction-account-hp

How debit cards can benefit you overseas  

  • Access and manage your own cash whilst travelling. Unlike a credit card with a line of credit or a prepaid card with a loaded amount of funds, a debit card gives you direct access to your savings. This saves you the inconvenience of loading a prepaid card but might deter the overspending that comes with credit.
  • Fewer fees than credit cards and prepaid travel cards.If you get a debit card designed for overseas use, you might not have to pay ATM withdrawal or currency conversion fees.
  • ATM availability worldwide.If your debit card is a Visa or MasterCard, you should be able to withdraw from ATMs around the world. To avoid ATM withdrawal fees, look for a card that belongs to the Global ATM Alliance.
  • Card fraud protection.Your provider is likely to offer protection against fraudulent transactions made on your account so long as you follow the requirements.

Considerations to keep in mind

  • No emergency cash facilities. Unlike a prepaid card, you won’t receive additional cash in the case of an emergency.
  • No backup/ additional card. Different to travel or credit cards, debit card accounts do not provide a backup. This means that you may have to wait up to two weeks for a replacement to arrive to your overseas destination.
  • Daily currency exchange rate. You will receive the daily exchange rate for your withdrawal from MasterCard or Visa. Due to the uncertainty of exchange rates this may be favourable or provide a lower rate than securing with a prepaid travel card before you leave the country. As a result having some funds available on a debit card for ATM withdrawals and purchases can come in handy.

Comprehensive guide to using debit cards overseas

Compare travel debit cards

Rates last updated May 25th, 2016
$
Monthly Account Fee Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Details
Citibank Plus Everyday Account
Enjoy 5% cash back on Visa payWave purchases (conditions apply).
Free international money transfers and free overseas Citibank ATM withdrawals.
Visa $0 $0 No ATM fees using Citibank, Westpac, BankSA and St.George branded ATMs in Australia. Use overseas Citibank ATMs for free. Open More
Westpac Choice
Pay no ATM withdrawal fee at eligible ATMs overseas.
Mastercard $0 $2,000 No ATM fees when using St.George, Westpac, BankSA or Bank of Melbourne ATMs in Australia. Deposit at least $2,000 per month and enjoy no monthly service fee. Open More
Bankwest Platinum Debit MasterCard
Earn points on your balances and every time you use your debit card. Plus no overseas ATM withdrawal fees
Mastercard $0 $4,000 No overseas ATM fees charged by Bankwest, No monthly account fee when you deposit at least $4,000 per month. Open More
Back to top

 Cash and Foreign Exchange

Holding a certain amount of cash/foreign exchange provides convenience and payment flexibility for your travelling needs. It is commonplace to exchange a practical amount of currency in Australia for when you land  (for taxis, travel tariffs, food etc) to ensure a smooth transition into your new holiday destination.

Knowing how the Australian dollar (AUD) has performed against the foreign currency in the past few years and the months where it typically peaks will enable you to secure the best exchange rate for your foreign exchange transaction. Our travel money guides will inform you on some of the ways to access cash and ATMs worldwide.

International money transfers comparison

Rates last updated May 25th, 2016
Description Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
TorFX International Money Transfers
TorFX International Money Transfers
TorFX guarantee to beat any competitor's exchange rate for a transaction.
Conditions apply
AUD 200 1 day Online, Phone, Agent Go to site More
Exclusive: OFX (Ozforex) International Money Transfers
Exclusive: OFX (Ozforex) International Money Transfers
Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com.au exclusive exchange rates and $0 transfer fee on all transfers.
AUD 250 1 day Online, Phone, Agent Go to site More
Exclusive: World First Foreign Exchange
Exclusive: World First Foreign Exchange
Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.
AUD 250 2 days Online, Phone Go to site More
HSBC Multi Currency Account
HSBC Multi Currency Account
Receive $200 cash back when using the Get Rate platform (conditions apply).
A multi-currency bank account with up to 10 currencies in one account.
AUD 0 3 - 5 days Online, Bank Account to Bank Account, Cash Transfer, International Money Order More
Citibank Plus Everyday Account
Citibank Plus Everyday Account
A transaction account with free transfers to any country and no foreign transaction or international ATM withdrawal fees. AUD 0 Same day Online, Phone, Agent, Bank Account to Bank Account Go to site More
Travelex International Payments
Travelex International Payments
Send money to over 50 countries and choose from 48 currencies. AUD 500 2 days Online More
CurrencyFair International Money Transfers
CurrencyFair International Money Transfers
A peer-to-peer transfer service with a large range of currencies on offer. One free transfer if you signup via finder.com.au. EUR 8 3 - 5 days Online Go to site More
Currency Online International Money Transfers
Currency Online International Money Transfers
Enjoy regular scheduled transfers, one off transfers and a range of currencies. Also enjoy your first transfer for free. AUD 0 2 days Online, Phone Go to site More
HiFX International Money Transfers
HiFX International Money Transfers
Make your first transfer for free. Transfer money between 20 currencies, and enjoy schedule regular transfers. AUD 50 2 days Online, Phone, Agent Go to site More
TransferWise International Money Transfers
TransferWise International Money Transfers
Make online transfers in a range of currencies and enjoy high maximum transfer amounts. AUD 1 1 day Online Go to site More
Back to top

Travellers Cheques

Travellers cheques were once a widely used form of travel money, but they’re going the way of the dinosaur. You can weigh up whether they’re worth your time below:

How a travellers cheque could still work for you

  • Secure. Travellers cheques are an extremely secure method to spend money overseas.
  • Safe. They can be easily replaced if lost or stolen.

Considerations to keep in mind

  • Cost. You might be charged a purchase fee when you first pick up your travellers cheque.
  • Acceptance. Travellers cheques are generally accepted less than Visa or MasterCards.
  • Ease of use. Can be bulky and awkward to carry. Plus, you’ll have to go to the effort of getting them cashed rather than having immediate access to your cash like you would with a card.
Back to top

The most commonly asked travel money questions on the internet

What are the travel money card exchange rates?

Travel credit cards typically use the MasterCard or Visa network and use the daily exchange rates that the networks provide. You can find out the daily exchange rate by going to the MasterCard or Visa website.
Travel prepaid cards usually have a lower exchange rate due to being able to pre-load your currencies, additional travel features available (spare cards, loading multiple currencies) and the bank charging a larger margin in return for providing these services.

What is a cross currency conversion fee?

A cross currency conversion fee is charged when you use your Australian card with Australian dollars to make a purchase in a foreign country. The money is exchanged from Australian dollars into the local currency electronically.

How can I avoid ATM withdrawal fees?

Banks who have international ATM alliances will allow you to withdraw cash for free. Westpac have one of the largest ATM alliances out of any Australian Bank. Global lenders like Citibank and HSBC have a number of ATMs worldwide, and Citibank do not charge for international ATM withdrawals. So if you're a Citibank customer looking to use your card overseas, head to a Citibank ATM and all you'll pay for the withdrawal is the currency conversion fee.

Can I load my existing credit card into a positive/ credit balance to avoid fees (ATM withdrawal, currency conversion, cash advance fees)?

Although this method of loading travel funds is rarely disclosed in the banks terms and conditions, loading your credit card into a positive balance can avoid the cash advance interest rate.

As smart travellers have continued to use this method, banks have made changes to their fees and charges. The following fees may still apply when you load your account into credit:

  • International ATM withdrawal fee. Charged when you withdraw cash overseas.
  • Currency conversion fee. This amount is calculated based on the total of the international ATM fee and the amount being withdrawn.
  • Local ATM operator fee. This can be avoided by using an ATM with your bank's overseas ATM Alliance (if they have one). The cash advance rate of interest will apply from the day the transaction takes place.

Travel insurance from credit cards or from a travel insurance company?

Many premium credit card issuers will offer complimentary travel insurance as an added bonus for successful applicants. The decision on whether to go with this complimentary cover or to purchase a standalone policy will really come down to your cover requirements and budget. While the cover provided on credit cards may not offer the same comprehensive level of cover as that from a travel insurance issuer, you may already have other cover in place from other insurance and feel that your trip requirements don't need the cover options available on standalone policies. Either way it's important to compare the benefits available from both options and get a clear understanding of the exclusions for payment. The last thing you need when travelling is the nasty surprise that you are not actually covered for losses in the event that you need to make a claim.

Compare credit cards with free international travel insurance

When are inactivity fees charged with prepaid travel cards?

If you have a travel card that has an inactivity fee (a fee that's charged every month when your account is inactive for a period of time), you will lose any remaining funds on the card, but your account won't go into a negative balance. Once the card has no funds left on it, this fee will not be charged.

Activating complimentary travel insurance with credit cards

The eligibility requirements will differ between policies, but a general rule is that you have to pay for a percentage of your prepaid travel expenses with your card or by simply logging into your account online and activating the policy with your trip details (departure date, travel destinations etc). Once you've done this, you're automatically covered under the policy agreement — although keep in mind that each policy has a list of exclusions that you should check before travelling.

Are travel money belts still a safe option?

money-beltUsually the most practical solutions aren't the most appealing to the eye. Travel money belts keep your money and important valuables/ documents safely tucked in a

compartment under your shirt to minimise the risk of theft and loss. If security and peace of mind is your first priority when travelling and you don't mind a piece of fabric strapped around your waist, then investing in a travel money belt will protect your travel money cards and important valuables.

Compare Anti Theft Bags and Gadgets to protect your important items

Back to top

Compare Travel Insurance Quotes from Australian Companies

It's critical to compare quotes from a range of issuers to ensure you get adequate cover for your trip at the right price. Use the form below to compare quotes from Australian travel insurance companies and access coupon codes to help you save even further.

Are you considering travel insurance for your trip?

Finding the right money option for your trip overseas is just one of many boxes to tick before leaving the tarmac. Whether you are just heading off for a weekend getaway or a six month backpacking adventure, it's crucial to have the right cover in place to ensure you don't have to endure financial hardship in the event of a loss. Most people that have travelled will have their own story of when things didn't go exactly to plan and were forced to hand over funds to cover the loss.

What am I covered for? Travel Insurance will generally provide cover for the following events:

  • Overseas medical expenses: Covers the cost of emergency medical assistance including emergency medical evacuation, hospital expenses and medical costs.
  • Theft of cash: Cover in the event that the following are stolen from you: cash from your person, banknotes, currency notes, postal orders and money orders.
  • Cover for loss or damage to personal items: Cover for loss/damage to luggage and personal items.
  • Cancellation fees: Cover for cancellation fees or lost deposits.
  • Rental vehicle fees: Cover for rental vehicle excess that may be applied in the event that you have an accident while you are travelling.
  • Credit card fraud or replacement: Cover for the replacement of credit cards lost or stolen from you on your journey.

Made a search before? Retrieve your search results

At least one destination is required
Both dates are required
Add more travellers
Enter the age of each traveller between 0 and 99

Enter a valid email address

At least one destination is required
Both dates are required
Add more travellers
Enter the age of each traveller between 0 and 99

Enter a valid email address

Type or select your destination

Popular Destinations

Americas
Asia
Europe
Pacific
Africa
Can't find your destination? Just type it in the box above.

We compare products from

By submitting this form, you agree to finder.com.au privacy policy
Back to top

Related Posts

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

284 Responses to Travel Money Finder™ – Guide to Travelling With Money Overseas

  1. Default Gravatar
    Kyle | May 14, 2016

    Hi. I have a 13 year old son who is going on a school trip to the UK. Which prepaid card is best for him so that we (as parents) are able to oversee his spending and top up if necessary from Australia?

    • Staff
      Sally | May 16, 2016

      Hi Kyle,

      Thanks for your question.

      As a financial comparison service, we can’t recommend any specific products. However, some prepaid cards can only be distributed to applicants aged 16 years or older (such as the Commonwealth Bank Travel Money Card and the Qantas Cash card), so this could help narrow down your search.

      For example, the Australia Post Load&Go card, ANZ Travel Card and Multi-currency Cash Passport are all available to card holders under 16. All of these cards also come with online accounts, meaning you’ll be able to track your son’s spending and top up the card. Start comparing the cards and make sure to confirm with the provider that the card is available for 13-year-olds before you apply.

      I hope this has helped.

      Cheers,

      Sally

  2. Default Gravatar
    Malcolm | May 5, 2016

    Is there any travel card I can load directly with USD from funds in a USD account I already have with Commonwealth Bank? With the latter seems I would have to pointlessly go USD -> AUD -> USD losing about 5% to fees at each step.

    • Staff
      Sally | May 6, 2016

      Hi Malcolm,

      Thanks for your question.

      Unfortunately, all Australian travel cards currently require you to load the funds on your card in Australian dollars first and then transfer the funds to the relevant supported currency.

      I’m sorry we couldn’t be of more assistance.

      Cheers,

      Sally

  3. Default Gravatar
    George | February 23, 2016

    Please tell me the current conversion rates from A$ to Euro of various travel cards to nc lauding Citibank

    • Staff
      Sally | February 24, 2016

      Hi George,

      Thanks for your question.

      The conversion rate will vary according to the time and date you convert your funds. You can find the various exchange rates for travel money cards on the individual issuer’s websites.

      I hope this has helped.

      Cheers,

      Sally

  4. Default Gravatar
    Greg | February 18, 2016

    what is the best most accepted debit card with respect to fees (reload, conversion rates etc) to use for the UK as seems like its almost impossible to open a bank debit card account in UK unless you have a prescribed (electricity bill, etc) bill with your name and address even if you ave a UK passport?
    thanks

    • Staff
      Sally | February 19, 2016

      Hi Greg,

      Thanks for your question.

      Just to confirm, are you referring to an Australian debit card that you can use while you’re on holiday in the UK?

      As a financial comparison service, we can’t recommend any specific products as the ‘best’ option will always depend on your individual needs and financial situation.

      You can compare some of the debit cards that are suitable to use in the UK using our UK travel money guide.

      I hope this has helped.

      Cheers,

      Sally

  5. Default Gravatar
    David | January 31, 2016

    We shall be travelling to India late this month. Are there any hints re using credit cards or should we use debit cards?

    • Staff
      Sally | February 1, 2016

      Hi David,

      Thanks for your question.

      What travel money option you should use will depend on your travel plans, spending habits and financial situation.

      However, our Travel Money India Guide will help you compare your options and make a decision that’s right for you.

      You might want to use a combination of travel money options such as a no foreign transaction fee credit card for large purchases or emergencies and then a prepaid or debit card for everyday purchases and ATM withdrawals. You’ll also want to make sure that all of these options have low or no currency conversion, foreign transaction and ATM withdrawal fees. Cash will also come in handy for daily expenses.

      Consider your travel plans and spending habits, compare your travel money options and read over the relevant product disclosure statements to determine which combination of cards is best for you.

      I hope this has helped.

      Cheers,

      Sally

  6. Default Gravatar
    Tam | January 28, 2016

    Hi there,

    I’m heading to South America, therefore visiting a lot of different countries with a lot of different currencies. What is my best option for accessing money?

    • Staff
      Sally | January 29, 2016

      Hi Tam,

      Thanks for your question.

      The “best” option will depend on exactly where you’re travelling, your financial situation and your travel spending habits.

      Unfortunately, not many Australian prepaid travel cards support many South American currencies, so you might want to either consider a debit, credit card or prepaid card that doesn’t charge foreign transaction or currency conversion fees. However, some South American currencies accept USD, so in this case a prepaid travel card could come in handy.

      It’s always a good idea to have more than one travel money option. So you might want to consider a credit card that’s designed for overseas expenses for emergencies and big purchases and a debit or prepaid card and cash for everyday expenses. You should never keep all of your money options on you at one time, try to leave one option in a safe place (such as your hotel safe or with your luggage) to ensure that you’re not strapped for cash should you lose your wallet.

      For more travel money tips, please see our South America Travel Money guide.

      I hope this has helped.

      Cheers,

      Sally

  7. Default Gravatar
    Sue | December 29, 2015

    Is it cheaper to take rands to South Africa , I mean is currency exchange cheaper than a debit card?
    Thanks Sue

    • Staff
      Sally | December 29, 2015

      Hi Sue,

      Thanks for your question.

      This would depend on where you exchanged your funds and what type of debit card you’re planning on using. Compare some debit cards (especially currency conversion fees and foreign transaction fees) in comparison with the exchange rate at your local currency exchange to determine which one is of better value to you. Using a combination of travel money options (e.g. a debit card and cash) is also useful to ensure that you have a backup in case of emergencies.

      I hope this has helped.

      Cheers,

      Sally

    • Default Gravatar
      | January 20, 2016

      Very helpful guide! Thanks

  8. Default Gravatar
    Ali | December 14, 2015

    What options are available in terms of money and debit cards for students under the age of 16 traveling overseas without parents or guardians?

    many thanks,

    • Staff
      Sally | December 14, 2015

      Hello Ali,

      Thanks for your question.

      Unfortunately, most travel money cards or credit cards require cardholders to be at least 16 years of age, even if they’re just an additional cardholder on an account.

      You can compare your other options here.

      Cheers,

      Sally

  9. Default Gravatar
    enchalewtamiru | November 20, 2015

    What is the different between travellers cheque and cheque?

    • Staff
      Sally | November 23, 2015

      Hello,

      Thanks for your question.

      A travellers cheque is a secure way to carry foreign currency overseas. Unlike a regular Australian cheque which will only support Australian dollars, you can use these to carry and cash foreign currency when travelling overseas.

      I hope this has helped.

      Cheers,

      Sally

  10. Default Gravatar
    GEORGE | November 4, 2015

    I am a Swedish citizen holding ‘citicorp travelers cheques ‘, in US dollars, which I wish to cash in Sydney Australia. Please advise which citibank’ office is cashing these cheques?

    And..until then..thanks in advance and still regards.

    • Staff
      Sally | November 5, 2015

      Hi George,

      Thank you for getting in touch.

      Are you referring to Citigroup? If so, you should be able to cash this cheque at most Citibank branches in Australia.

      For further information regarding travellers cheques, please see our guide.

      I hope this has helped.

      Cheers,

      Sally

Ask a question
feedback

Exciting news!

myNBN.info is now part of the finder.com.au family.

Read more about what this means

Win $200!

Tell us about your health insurance and you could win.

Take our quick survey