How to claim the money left on your travel card
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 have a Cash Passport Platinum 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 Platinum Mastercard 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 Money Card
The card attracts a monthly inactivity fee of 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 .
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 and have the money transferred over to it.
Valid for up to 3 years with no monthly inactivity fee, you can use the CommBank 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 , 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 fee and over-the-counter cash withdrawals incur a $10 fee. A 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 Travel Money 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.
If you have funds remaining on your , 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.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
A comparison of prepaid travel money cards
You might also be interested in
More guides on Finder
Wise Travel Money Card Review
The Wise Travel Money Card supports over 40 currencies, with free loading by bank transfer and an instant, virtual card. Here’s how its other features compare.
Revolut travel account review
Revolut offers virtual and physical Visa cards, support for over 30 currencies and other travel perks – plus 3-month Premium trial with this offer.
How much spending money do I need for the USA?
Expect to spend from $120 per day in the US – depending on your travel style. Here's the breakdown of what it'll get you.
How much spending money do I need for Thailand?
Here's a breakdown of how much to budget for a Thailand holiday - from hire costs to the price of eating out - depending on your travel style.
The cost of a pint of beer around the world
Use finder's interactive world map to learn about variations in beer prices globally. Find out where in the world you'd pay a whopping $15.10 for a pint.
Travel Money Oz Currency Pass Card Review
Load up to 10 currencies, lock in exchange rates and travel smarter with this prepaid travel card.
The best travel money cards for Australian travellers
Find out which travel cards are the best to use in the 10 most popular holiday destinations for Aussie travellers.
How to avoid travel money fees and charges while travelling overseas
Want to avoid fees and charges when using your card overseas? This guide explains the most common pitfalls when using travel cards.
CommBank Travel Money Card review
Spend in up to 13 major currencies, lock in exchange rates and manage your account with the CommBank app when you use the Commonwealth Bank Travel Money Card.
Cash Passport Platinum Mastercard – Travel Money Card Review
Spend in 11 currencies wherever Mastercard is accepted and save on currency conversion fees with the Cash Passport Platinum Mastercard.
Ask an Expert