Compare Prepaid Cards

From travel money to everyday spending, prepaid credit cards give you secure and convenient access to your own cash when you need it.

A wide range of providers offer prepaid cards you can use when travelling, shopping online or making payments in Australia. Some cards also offer rewards or the ability to load funds in different international currencies. Use this guide to learn about the different features of prepaid credit cards, how to compare them and where you can get one so that you can decide if this type of card is right for you.

ANZ Travel Card

ANZ Travel Card

  • Load up to 10 currencies
  • Lock in your exchange rates
  • No overseas transaction fees

ANZ Travel Card

The ANZ Travel Card is a prepaid card that can be loaded with up to 10 currencies to make purchases at home and overseas at over 38 million merchants and over 2.3 million ATMs worldwide.

  • Lock in your exchange rates and know how much money you have to spend
  • No transaction fees for electronic purchases in Australia and overseas
  • Multiple reload options - online, over the phone or in person
  • Manage your money online or over phone 24/7
  • Spare card if in case one is lost or stolen

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Compare prepaid travel money cards

Rates last updated October 16th, 2018
Name Product Description Available Currencies ATM Withdrawal Fee Reload Fee Initial Load Fee
Hold up to 10 currencies and lock in your exchange rate. No load, reload or transaction fees on purchases and part of a worldwide ATM alliance.
AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD
AUD 3.50, USD 2.50, GBP 2.00, EUR 2.20, NZD 4.50, CAD 3.00, HKD 20.00, SGD 4.00, THB 95, JPY 260

0%
$0
Hold up to 11 currencies, with $0 reload options and get a locked-in exchange rate.
AUD, AED, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD
AUD 1.95, CAD 2.00, EUR 1.50, GBP 1.25, HKD 15.00, JPY 160, NZD 2.50, SGD 2.50, USD 1.95, THB 70.00, AED 6.50

1%
$0

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What is a prepaid credit card?

compare credit cardsA prepaid credit card lets you load and use your own money to make payments at the checkout or online. This is different to normal credit cards, which allow you to draw money from your credit limit and pay it off over time (usually with interest charges). While a prepaid credit card can be used to make payments in the same ways as a regular credit card, using your own money means that there is no debt or interest charges. A prepaid credit card also has no impact on your credit history.

What features and benefits come with prepaid cards?

Similar to credit cards, the features of prepaid cards vary depending on the one you choose. But some of the most popular features and benefits you can get with a prepaid card include:

  • More control over the balance or the amount of money on the card
  • An alternative to a credit card for someone under 18
  • Access to multiple currencies through the one card
  • Lower fees and charges than other credit cards
  • No interest rate
  • Reward points
  • Money tracking tools
  • Security against theft, loss and fraud

Comparing prepaid credit cards based on the features that interest you will help you find the right card for your needs.

What types of prepaid credit cards are available?

Just as there are different types of regular credit cards, there is a range of prepaid cards designed to suit specific needs, including:

  1. Everyday prepaid credit cards. These cards offer convenience for day-to-day spending and could include tap-and-go payments, balance-tracking features and fast, easy money loading options.
  2. Prepaid travel cards. You can use prepaid travel cards to load Australian dollars and convert them into a number of supported foreign currencies at a locked-in exchange rate. This means that you can access your own funds overseas without the cost of a currency conversion fee.
  3. Gift cards. Prepaid credit cards can make great gifts as an alternative to cash, and can be loaded with a nominated amount or purchased with a set amount already on the card.
  4. Money transfer cards. Money transfer cards allow multiple people in different countries to access the funds in one account. These accounts come with two cards; one person deposits money in the account, and the other person, who has the card in a different country, can access the funds as soon as they clear in the account.
  5. Prepaid reward cards. Some prepaid cards are also linked to reward programs and earn you points for your spending. The Qantas Travel Money and Velocity Global Wallet are examples of cards that you can preload and earn points with.

How to compare prepaid credit cards

Considering the following features will help you find a prepaid credit card that is right for you.

  • Pre-loaded vs. reloadable. Some prepaid cards come with a fixed amount of money to use, while others allow you to load money on an ongoing basis. If you’re planning to use the card more than once, consider a reloadable card.
  • Purchasing or set up fee. Prepaid cards may come with a one-off fee when you buy them, usually ranging from $5 to $11. Some cards don’t charge a fee or will waive it for existing customers.
  • Loading fees. Some prepaid credit cards charge an initial loading fee, and others may charge a fee every time you add more money to the card. Others don’t charge anything, so make sure to read the terms and conditions to confirm how much you could pay.
  • Currency conversion fees. A fee of around 3% could be applied for any currency conversions associated with the prepaid card. If you’re spending in a supported currency, you can usually avoid this fee with a travel card.
  • Rewards. If you’ll be using the card regularly, consider whether you can earn rewards on your purchases and what you can redeem them for.
  • Other fees. Prepaid debit cards can include a number of other fees including card replacement fees, cancellation fees, declined transaction fees and ATM withdrawal fees. Check these charges before you apply to find an affordable prepaid card for your needs.
  • Load limits. Prepaid cards usually have a maximum amount of money you can carry on the card at one time, ranging from $30 to $10,000 or more. Check these details before you apply to make sure these limits don't restrict the way you use the card.

Remember, every prepaid credit card is different, so checking individual details now will help you make a more informed decision when choosing the right option for you. Compare more prepaid travel money cards

Provider and Card Type Reloadable? Min/max load (AUD) Issue fee Where to get it
ANZ Travel Card Visa Yes $200 / $50,000 $0 Order online
Australia Post Load&Go Reloadable Card Visa Yes $20 / $999 $6.95 Order online or in selected stores
Australia Post Load&Go Travel Card Visa Yes $100 / $10,000 $0 Online or in selected stores
Australia Post Load&Go China Card UnionPay Yes $100 / $10,000 $0 Order in selected stores
Australia Post Load&Go Gift Card Visa No $20 / $500 $5.95 Order online or in selected stores
Australia Post Multi-currency Cash Passport Mastercard Yes $100 / $100,000 $0 Order online or in selected stores
Australia Post Cash Passport Platinum Mastercard Yes $100 / $100,000 $0 Order online or in selected stores
Commonwealth Bank Travel Money Card Mastercard Yes $1 / $100,000 $15 Order online
Coles Gift Mastercard Mastercard No $50 / $100 $5 Buy in store at Coles or Coles Express
Cash Passport Platinum Mastercard Mastercard Yes $100 / $100,000 $0 Order online
NAB Traveller Card Mastercard Yes $50 / $45,000 $0 Order online
Qantas Travel Money Mastercard Yes $50 / $20,000 $0 Order online
Travelex Money Card Mastercard Yes $100 / $100,000 $0 Order online
Velocity Global Wallet Visa Yes $1 / $25,000 $0 Order online
Westpac Global Currency Card Visa Yes $100 / $50,000 $0 Order online
Woolworths WISH Gift Card N/A# No $5 / $500 $0 Order online or in selected stores
#The Woolworths WISH Gift Card is only available to be used at participating Woolworths Group stores

How can I get a prepaid credit card?

Depending on the prepaid credit card you choose, you will be able to apply online or in person at participating retailers and bank branches. While the application details are different for each card, here are the most common requirements you need to meet to get a prepaid credit card:

  • Age. Some prepaid credit cards specify a minimum age for cardholders or will limit the available balance if a person is under a certain age. For example, you must be at least 14 years of age to get the CommBank Travel Money Card. Similarly, the Velocity Global Wallet card requires you to be over 18 years of age to use it.
  • Personal details. You may need to provide personal details such as your full name, residential address, contact phone number and date of birth to help verify your identity.
  • Initial load amount. Some cards may require you to load a minimum amount onto the card when you first get it.
  • Card activation. You will need to activate the card before you can use it. This can be done in person, over the phone or online depending on the card.
  • PIN. Prepaid credit cards may come with an assigned PIN, or require you to choose a PIN when you activate the card.
  • Signing the card. Make sure you sign the card once you receive and activate it. This step is necessary to validate the zero liability policy that helps protect you against any unauthorised transactions.

Making sure you are prepared to meet these requirements will help you get your card as quickly as possible. If you apply in person, you’ll be able to get and use your card straight away. If you apply online you will have to wait to receive the card in the post, which takes up to 5-10 working days in most cases. You can also check with the prepaid credit card provider to find out about specific card requirements before you apply. Prepaid credit cards combine flexibility and affordability by letting you load and spend your own money in a range of different ways. With so many different prepaid cards available, learning more about them and comparing prepaid options will help you get the most out of these cards whenever you choose to use them.

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Credit Card Offers

Important Information*
Qantas Premier Everyday

Interest rate

19.99

Annual fee

0*

*$49 p.a. after first year

Westpac Low Rate Card

Interest rate

13.49

Annual fee

0*

*$59 p.a. after first year

ANZ Low Rate

Interest rate

12.49

Annual fee

58

Credit Cards Comparison

Rates last updated October 16th, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Low Fee Platinum Card - Exclusive Offer
19.74% p.a.
0% p.a. for 25 months
$90 p.a.
finder Exclusive: Take advantage of 0% p.a. interest for 25 months on balance transfers with no balance transfer fee.
Qantas Premier Everyday
19.99% p.a.
4.9% p.a. for 24 months
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Take advantage of up to 40,000 bonus Qantas Points, a $0 first year annual fee plus complimentary overseas travel insurance.
Westpac Low Rate Card
13.49% p.a.
0% p.a. for 24 months with 1% balance transfer fee
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
Offers a 0% for 24 month balance transfer option, first year annual fee waiver and a competitive purchase rate.
ANZ Low Rate
12.49% p.a.
0% p.a. for 15 months
$58 p.a.
Save with a 0% p.a. introductory rate on balance transfers for 15 months with no BT fee. Plus a low 12.49% p.a. interest rate on purchases.
Citi Clear Platinum Credit Card
12.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a 0% p.a. for 14 months balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
NAB Qantas Rewards Signature Card
19.99% p.a.
0% p.a. for 6 months with 2% balance transfer fee
$295 p.a. annual fee for the first year ($395 p.a. thereafter)
Collect 90,000 bonus Qantas Points when you spend $4,000 within 60 days of account opening. Plus, a $295 annual fee in the first year.
St.George Vertigo Platinum
12.74% p.a.
0% p.a. for 26 months with 2% balance transfer fee
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer, $0 first year annual fee, complimentary travel insurance and access to a 24/7 personal concierge service.

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* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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