Cash Passport Platinum Mastercard – Travel Money Card Review
Spend in 11 currencies and take advantage of locked-in exchange rates with the Cash Passport Platinum travel card.
The Cash Passport Platinum is a prepaid travel Mastercard that lets you load up to 11 different currencies, allowing you to spend in multiple regions with ease. Enjoy the security of locked-in exchange rates and the safety of not having to carry cash around as well as the convenience and wide acceptance of a Mastercard. As a platinum product, this card also offers 3 months of free global wi-fi each time you top up and complimentary access to airport lounges worldwide if your flight is delayed.
Initial Load Fee
|Multiple Currencies on One Card?||Yes|
|Number of Cards Issued||1|
|Minimum Load Amount||$100|
|Maximum Load Amount||$100,000|
|Maximum Load Amount (Annual)||$100,000|
|24 Hour ATM Cash Withdrawal Limit||$3,000|
|24 Hour Purchase (POS) Transaction Limit||$15,000|
What currencies can I load on the Cash Passport?
The Cash Passport supports the following major currencies:
- US dollars
- Great British pounds
- New Zealand dollars
- Thai baht
- Canadian dollars
- Japanese yen
- Hong Kong dollars
- Singapore dollars
- United Arab Emirates dirham
- Australian dollars
Mastercard Prepaid sets the foreign exchange rates when you load or reload funds, and the rates can vary daily. When converting funds from one currency wallet to another on your card, Mastercard Prepaid will also determine the applicable foreign exchange rates at the time of the transaction.
When spending in a currency that isn't supported by or loaded on the card, Mastercard Prepaid will apply its designated "spend rate" for conversion and funds will be debited from your card from the next available currency balance following the default currency order:
So, let's say you're travelling in Vietnam and have Australian dollars and euros loaded on your card. This means that if you swipe your Cash Passport in Vietnam to pay for dinner in Vietnamese dong, your card will be debited in Australian dollars at Mastercard Prepaid's spend rate. If your Australian dollar wallet does not have sufficient funds to cover the full transaction, your next currency wallet with a positive balance will be deducted. As you didn't have US dollars loaded on the card, the funds will be deducted from your euros wallet. Again, Mastercard Prepaid will determine the spend rate for converting dong into euros
Where can I use my Cash Passport?
This travel card offers the worldwide acceptance of a Mastercard, which means that you can use it online, in stores and at international ATMs wherever you find the Mastercard symbol. However, some restrictions apply, such as the card not working in certain countries due to Mastercard-imposed restrictions. You also cannot use the Cash Passport for manual transactions or unlawful activities.
Features of the Cash Passport
These are the prime features and benefits of the card:
How much does the Cash Passport cost?
This table explains the associated costs of this card and when you'll be charged each fee.
|Type of fee||Cost||When you'll be charged|
|Initial load fee||$0||N/A|
|Reload fee||You pay this fee each time you reload funds on your card after the initial load.|
|Administrative fee||Up to the greater of 1.1% of the load/reload amount or $15||You pay this fee when you purchase and load or reload your card in-store with the assistance of a customer service representative.|
|Currency conversion fee||$0||When you convert funds from one currency to another or when you transact in a currency that isn't supported or loaded on the card, you won't be charged a fee. Please note that the Mastercard prepaid exchange rates will apply, though.|
|International ATM withdrawal fee||You pay this fee for making a cash withdrawal from an overseas ATM using your Cash Passport. For international ATM withdrawals in countries other than those with supported currencies on the card, you'll be charged the Australian dollar withdrawal fee.|
|Domestic ATM withdrawal fee||2.95% of withdrawal amount||You pay this fee when withdrawing cash from an ATM within Australia.|
|Additional card fee||$5||You pay this fee when you opt for an extra card at the time of purchase.|
|Replacement card fee||$0||N/A|
|Cash out fee||$10||You pay this fee for cashing out funds on your card apart from ATM withdrawals.|
How to use the Cash Passport
Start using your Cash Passport by following these easy steps.
- Activate the card. Get your Cash Passport at a participating distribution outlet, or apply online if you can wait more than three business days for it to be delivered. You can activate your card online once you receive it.
- Load funds on the card. Either top up funds at a participating distribution outlet or do it online via a debit card, BPAY or bank transfer. Debit card payments are instantaneous, while BPAY and bank transfer payments can take up to three business days to be settled (which further delays card delivery by post). The exchange rate at the time of settlement will be applied in these cases, and may differ from the rate at the time of your transaction. The minimum loading and reloading amount is AUD$100 per transaction, but maximum limits differ with transaction types.
- Manage your online account. Once you've registered your card online, you will be able to log in anytime to manage your account. This includes checking transactions and balances, transferring currencies between currency wallets and reloading funds whenever you need.
What do I do if I return home with foreign currency remaining on the card?
You may keep these currencies on your card for your next trip or cash out the available funds immediately for a fee of $10. The funds will then be transferred directly to your nominated bank account.
Who do I contact if my card is lost, stolen or damaged?
To report a lost or stolen card, or a breach of your PIN security, you should immediately call the 24-hour Global Emergency Assistance helpline at 1800 098 231 or +44 207 649 9404 when overseas. You can then arrange to get a replacement card and emergency cash, so it's important to contact the helpline as soon as possible.
How to apply for a Cash Passport
You can apply for the Cash Passport in a few minutes online. You will need to provide personal details including your name, date of birth, phone number and home address. You will also need to provide your Australian passport or Australian driver's licence number for identification verification purposes. You can apply for an additional card at this time for $5. Your new card(s) will be sent to your home via Express Post in three days if you pay by debit card, or longer if you pay by BPAY or bank transfer since those funds will require time to clear.
You can also apply for a Cash Passport in-store at Australia Post, Suncorp and Heritage Bank to name a few locations.
Are there any eligibility requirements?
You must have an Australian passport or Australian driver's licence to apply.
With so many waived fees, the Cash Passport Mastercard is a strong contender among travel cards. However, it's wise to compare your options before applying to ensure you're applying for the right card for you.