Qudos Bank Travel Money Cash Passport Card Review

Rates and Fees verified correct on December 8th, 2016

Load up to 10 currencies and pay nothing for overseas ATM withdrawals with the Qudos Bank Multi Currency Cash Passport.

As the banking arm of Qantas, it makes sense that Qudos Bank offers a prepaid multi currency travel money card as part of its range of products. This MasterCard Multi Currency Cash Passport gives you a convenient way to make purchases in a foreign currency when you’re on holiday or shopping online, allowing you to load up to 10 currencies at a time, including Australian dollars.

International currencies can be easily managed through the Cash Passport online portal and funds are reloaded using BPAY. This card features free international ATM withdrawals, but has a high currency conversion fee of 5.95% for transactions made in a currency not loaded on the card.

Available CurrenciesAUD, USD, EUR, GBP, NZD, THB, CAD, HKD, JPY, SGD
Multiple Currencies on One CardYes
Number of Cards Issued1
Minimum Load Amount$100
Maximum Load Amount$100,000
Maximum Annual Load Amount$100,000
24 Hour ATM Cash Withdrawal Limit$3,000
24 Hour POS Transaction Limit$15,000
Card Issue Fee$0
Initial Load Fee$0
ATM Withdrawal FeeIf you use the card to withdraw funds in Australia, you'll be charged 2.95% of the withdrawal amount. No ATM fees will be charged when withdrawing money from an ATM outside of Australia.
Reload Fee$0
Monthly Inactivity Fee
after 12 months inactivity
$4
Transaction Fee for Purchases$0
Card Replacement Fee$0
Currency Conversion Fee5.95%
BPay Reload fee1%
Negative Balance Fee$20
Account Closing Fee$10
Available To Temporary ResidentsNo

Currencies and loading funds

This travel card supports 10 different currencies at a time, up to a total card limit of $100,000. You can load money at a Qudos Bank branch or by using BPAY from anywhere in the world. Funds are credited to the first currency listed in the Multi Currency Cash Passport account. By default this is Australian dollars, but you can change the currency order at any time.

Supported currencies

The Qudos Bank Travel Money Cash Passport supports these international currencies:

  • Australian dollars (AUD)
  • United States dollars (USD)
  • Euros (EUR)
  • British pounds (GBP)
  • New Zealand dollars (NZD)
  • Thai baht (THB)
  • Canadian dollars (CAD)
  • Hong Kong dollars (HKD)
  • Japanese yen (JPY)
  • Singapore dollars (SGD)

Exchange rates

The exchange rate applicable to your foreign currency transfer is shown when you switch money between different currencies via the online cash portal. Travel card exchange rates usually include a margin to account for changes. You can also see the latest currency exchange rates on the Multi Currency Cash Passport website.

How to load funds on the card

You can reload your Cash Passport by making a BPAY payment from your everyday account using Internet banking. You will need to enter the following details to complete the transaction:

  • The BPAY biller code: 184416
  • Reference number: Your Cash Passport card number.

It can take up to three business days for the funds to appear on your account. If there’s a public holiday or weekend in Australia, it may take longer. All reloads are credited in Australian dollars or the first currency if you have changed the default currency order. You can also reload the card in person at Qudos Bank branches or anywhere this card is sold.

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Using the card

The Multi Currency Cash Passport can be used at millions of locations around the world, wherever MasterCard is accepted. There are no international ATM withdrawal fees but ATM operator fees can apply.

How much will the card cost me?

You won't have to pay to purchase, load or reload the card, but it doesn't come entirely for free. Some of the fees and charges you can expect include:

Fees associated with Qudos Bank Cash Passport
BPAY reload feeIf you use BPAY to reload your card, you'll be charged 1%  of the reload amount.
Currency conversion feeIf you don't spend in a supported and loaded currency, you'll be charged a currency conversion fee of 5.95% of the transaction value (plus the MasterCard rate).
ATM withdrawal feesIf you use the card to withdraw funds in Australia, you'll be charged 2.95% of the withdrawal amount. No ATM fees will be charged when withdrawing money from an ATM outside of Australia. *Please note that local ATM fees may still apply.
Monthly inactivity feeIf you don't use the card for 12 months, you'll be charged a $4 inactivity fee every month thereafter.
Negative balanceIf you withdraw a negative balance on your card, you'll be charged a $20 negative balance fee.
Cash out feeIf you decide to close your card once you've returned from your holiday, you'll be charged a $10 fee when you withdraw your remaining funds from the card.

Managing your card

  • Ordering. You can order the Multi Currency Cash Passport online through the Qudos Bank website. You will be required to make your first card load as part of the transaction. The card can then be picked up at participating Australia Post outlets or sent your home address.
  • Activating. The Multi Currency Cash Passport website lets you activate your card and register for the Cash Passport online portal so you can manage your currencies.
  • Loading. This prepaid travel card can be reloaded using BPAY. A fee worth 1% of the reload amount is charged each time you reload the card. It can take up to three business days for funds to clear in the Multi Currency Cash Passport account, and longer for weekends and bank holidays.

Managing your card online

Qudos Bank and MasterCard provide a secure and convenient online platform where you can manage your currency options and account from anywhere in the world. Visit the Cash Passport website to register your Multi Currency travel card account for online access so that you can:

  • Check your account balances
  • Move funds between currencies
  • Request your account be closed and cash out your funds

Security

This card comes with a secure PIN to make purchases and ATM withdrawals. For security reasons, this travel card option is not linked to your bank account. You will be  issued with 1 cards when you open this account - a primary card for regular use and a backup card if the first is lost, stolen or damaged.

Important information

If anything happens to the first card, contact MasterCard Global Emergency Assistance on 1800 120 113 (in Australia) or +1 636 722 7111 (overseas)

Pros and cons

Pros

  • No international ATM withdrawal fee. While most other prepaid travel cards apply a fee when you make an ATM withdrawal in a foreign currency, the Cash Passport doesn’t apply a charge for this service.
  • Backup card & free replacement. You get two cards when you open a Multi-Currency Cash Passport. The second card acts as a backup if the first card is lost or stolen. If you lose the backup card, Qudos Bank and MasterCard can also arrange for a free overseas emergency replacement.

Cons

  • Monthly inactivity fee of $4. If you don’t use the card for 12 months, a $4 fee will be applied for each following month that it’s inactive. This fee is charged until there is no money left in the account.
  • High currency conversion fee. Although the Cash Passport supports a large number of currencies, spending money in a currency not loaded on the card will incur a currency conversion fee of 5.95% of the transaction value (plus the MasterCard rate).

The Multi Currency Cash Passport supports a large number of international currencies and is one of the only options to offer no international ATM withdrawal fees. But it also has some fees and charges to watch out for, such as the monthly inactivity fee and currency conversion fee. Make sure you compare this card to the wide range of other travel money products available to find the right option for your needs.

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Frequently asked questions

How do I check my card balance?

Register your card for online access at www.cashpassport.com/multi and you can view your account balance whenever you like.

What is the default currency order?

When you first get the card, the currencies are placed in a particular order. This is important for two reasons. First, when you run out of money in one currency, funds are taken from the next currency listed in order to complete the purchase. Second, the currency order is also the order funds are credited to the account.

By default Australian dollars are at the top of the currency order. But if, for example, you want to load the card with US dollars, you’d make US dollars the top currency in the currency order. This can be done online via the Cash Passport online portal. We’ve also listed the default order below:

  • Australian dollars (AUD)
  • United States dollars (USD)
  • Euros (EUR)
  • British pounds (GBP)
  • New Zealand dollars (NZD)
  • Thai baht (THB)
  • Canadian dollars (CAD)
  • Hong Kong dollars (HKD)
  • Japanese Yen (JPY)
  • Singapore dollars (SGD)

How do I get the money off the travel card when I get home?

You can request any remaining funds be withdrawn from your Multi Currency Cash Passport when you arrive back home. Visit the MasterCard Multi Currency Cash Passport website and enter your card details to request funds be deposited to another bank account. An account closure fee of $10 is charged by Access, the main distributor of the Multi Currency Cash Passport in Australia.

What is the minimum and maximum amount I can load at a time?

You can load as little as 100 and as much as AUD$100,000 for each transaction. This account has a maximum load limit of AUD$100,000 over 12 months.

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This page was last modified on 19 July 2016 at 17:32.

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