Home from your holiday with cash left on your travel money card? Here’s how to get it back.
If you’ve still got foreign currency on your travel money card after a trip or your card's about to expire, it's still possible to get your money back. Use this guide to learn how to get funds back and what mistakes to avoid so you can get as much value as possible from your prepaid travel card.
How to get the remaining funds off your travel money card
The way you get your unused money varies depending on the travel money card. In some cases, it can be as easy as Internet banking, while in others it might require a trip down to the bank. Here’s how it works with the major Australian prepaid travel cards.
If you want your money back before the ANZ Travel Card card expiry date, you can redeem any remaining funds for cash at an ATM. Just remember to check what ATM withdrawal fees will apply and take note of the card's maximum daily ATM withdrawal limit, which is AUD$3,000 in Australia but varies for other countries. You can also get your money back by electronically transferring the balance to your bank account or by cancelling the card. You may cancel it by calling 1800 094 003, or by visiting any ANZ Branch or ANZ Foreign Exchange Centre and completing a card closure form.
If your ANZ Travel Card has expired, you can redeem the funds on it (minus any applicable fees) by cancelling or closing the card at any ANZ Travel Card outlet (such as a bank branch). You can do this up to seven years after the card expires and the money will be paid to you in Australian dollars.
If you have a Cash Passport Mastercard, you can get your funds off it by logging in to your account at auspost.com.au/cashpassport or by visiting a participating Australia Post outlet and presenting the card along with a valid form of photo ID. You can get funds even if the card has expired (check the expiry date on the front).
Just take note that the Cash Passport charges a monthly inactivity fee of $0 if you haven't used your card in 12 months. So if you want to cancel your Cash Passport instead of keeping it for another trip, you can move the remaining balance to your bank account for a fee of $10 by calling Customer Service at +44 20 7166 7822.
The Travelex Travel Card card attracts a monthly inactivity fee of $4 after 12 months of no usage, which can whittle away at your balance. It also charges a 2.95% withdrawal fee on domestic withdrawals within Australia. There’s a $20 negative balance fee which can easily occur if you withdraw more than your balance (which is difficult to ascertain given the foreign exchange rate at the time, and other incidental charges). You can close your card at any distribution outlet and move remaining funds to your nominated bank account for an extra fee of $10.
If your card has expired, you can still get your funds through one of these options. Or, if you want to continue to use the account, you can request a new Travelex Travel card and have the money transferred over to it.
The NAB Traveller Card attracts a monthly inactivity fee if you have funds left on the card but haven't used it for 12 months. It also charges domestic ATM withdrawal fees (in Australia) which are charged in Australian dollars, so make sure you have AUD on your card if you’re attempting to make a withdrawal from the ATM. Otherwise, you may incur more foreign exchange fees or worse, negative balance fees.
With this card, you can transfer remaining funds to a linked NAB account and keep the card for future use. If your card expires or is close to expiring based on the date on the front of it, you can call 1800 098 231 and request a new card. If you don't bank with NAB, you can close your NAB Traveller Card at a NAB branch or by completing the Cash Out form at the NAB Traveller Card website. All remaining funds will be converted back to Australian dollars and credited to your nominated Australian bank account.
If you still have money on your Westpac Global Currency Card at the end of a trip, you could use it to shop online. Alternatively, you can convert your foreign funds back into Australian dollars through the Westpac Customer Service Centre and then transfer it to an Australian bank account or withdraw it for free from any Westpac Group ATM.
If your card has expired, you won't be able to withdraw money from an ATM or make purchases. But you can request a new card or transfer the remaining balance (in Australian dollars) to an Australian Bank Account. You can also close your card by calling 1300 797 470 and then have the remaining balance returned to your Australian bank account.
Valid for up to 3 years with no monthly inactivity fee, you can use the Commonwealth Bank Travel Money Card on your next holiday or close it off and empty the remaining funds into your account at no charge. If you have an everyday CommBank account, you can transfer the money in real-time through NetBank. You can do this up to three months after the card has expired.
If you don't bank with CommBank, you can get your money off the travel card by visiting a branch. You can also withdraw the funds from any CommBank ATM free-of-charge after converting the foreign currency to Australian dollars.
With the Suncorp Cash Passport Travel Card, you can withdraw your remaining funds from a local ATM or close your account and have the funds transferred into your nominated account. Do note that withdrawals within Australia incur a 2.95% fee, negative balances incur a $20 fee and over-the-counter cash withdrawals incur a $10 fee. A $10 fee is also charged for account closures and cashing out any remaining value. You can do this by logging into the Suncorp Bank Multi-Cash Currency portal.
The Qantas Cash card doesn’t incur an inactivity fee or ATM withdrawal fees, but a foreign exchange rate will apply when withdrawal is made in Australia on funds that are not in Australian dollars. While there is no negative balance penalty either, you will be liable for any negative balance as well as costs and interests incurred by Qantas in recovering the amount owed. You can close your card at any time at no cost by calling Mastercard Qantas Cash Global Support on 1300 825 302.
The Velocity Global Wallet charges a monthly inactivity fee of $1.95 if you haven't used your account in the past 12 months. ATM withdrawals within Australia are free but there is a foreign exchange fee of 2.25% which may apply. There is no negative balance fee or card closure fee, and you may close your account and transfer any remaining funds to a nominated Australian bank account anytime.
If you have funds remaining on your Australia Post Load&Go card, you can either exchange the money back into your Australian dollars currency wallet and withdraw the funds from an ATM or fill out the Load&Go balance redemption form to have the funds sent to you via an Australia Post Money Order. It doesn't cost anything to close the account, but you will be charged $1 every month a balance remains in your account following expiry. You can find the expiry date on the front of your card.
Withdrawn since 30 November 2015, the OzForex Travel Card card is now off the market. If you happen to have it and have not spent or cleared out your balance before 30 November 2015, you will need to contact OFX to organise a fund transfer to your chosen account.Back to top
Some mistakes to avoid with leftover funds in your travel card
If you have money left over on your travel card, be sure to take note of and avoid the following possible pitfalls:
- Leaving your card open. If you’re not travelling anytime soon, you might want to close the card once you’ve withdrawn your funds. Otherwise, you may still have to pay any inactivity fees or annual maintenance fees attached to the card.
- Expired cards. Most providers send a goodwill email to remind you of an impending expiry date. You can then request for closure, but failure to do so will unfortunately result in “Unclaimed Monies”.
- Unclaimed monies. While banks previously forfeited your money once your card expired, unclaimed monies legislation now dictates that balances above $500 (which are left untouched after three years or unclaimed after card expiry) must be transferred to the Commonwealth Bank and held in trust. You can run a free search of all unclaimed monies through the MoneySmart website. Amounts below $500 are essentially forfeited if you don’t close your account and claim them.
- Spending foreign currencies in Australia. Some banks charge domestic ATM withdrawal fees on your travel card, so be very careful reading the fine print. Since all fees are debited in Australian dollars, if you only have foreign currency on your card, that will incur more foreign currency conversion fees.
It is important to know the rules and conditions around your travel card. Depending on the fees and exclusions set by your provider, it may be wiser to withdraw remaining funds and close the account instead of keeping it for your next vacation. It is also worthwhile to factor in things like the card’s loading and reloading fees as well as foreign currency trends when comparing your options.Back to top