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Looking for a travel card for your next overseas trip? A prepaid travel money card lets you load the foreign currency you need onto the card before your leave Australia. This means you'll be ready to use the card in stores and at ATMs when you're travelling without having to worry about converting your Aussie dollars.
In this guide we outline the main features and benefits of a travel money card and help you compare travel cards using the table below.
A travel money card is a convenient way to access your travel cash while you're on holiday. There are three main types of travel cards available in Australia: prepaid travel cards, credit cards and debit cards. This guide focuses on prepaid travel cards and their benefits.
How it works: Prepaid travel cards let you lock-in exchange rates before you travel. This type of travel card allows you to budget more effectively, by knowing exactly what exchange rate you have secured and how much money you have on the card.
Why you should consider a prepaid travel card.
Things to consider when choosing a prepaid travel card.
There are a number of different prepaid travel cards on the market. They can be broken down into the following categories.
The Qantas Cash travel money card allows you to earn Qantas Points when you use the card to make eligible purchases. The Global Wallet from Velocity, functions in the same way, only rewarding you with Velocity Frequent Flyer Points. Points are awarded for eligible purchases, which are your usual everyday transactions. You won't earn points on cash transactions like ATM withdrawals. These cards couple the convenience of being able to spend without being charged international fees with rewards points earning. There are other products on the market that offer rewards and frequent flyer points when you spend, but these cards may also attract currency conversion fees, which negate any real value of rewards or frequent flyer points.
The main fees to look out for include:
When comparing travel money cards to find the right one for you, check the available currencies on the card. Find a card that will allow you to load the currencies of the countries you plan to visit. If you spend on a currency not loaded onto the card, you will be charged for currency conversion. Remember that each type of travel card has its own pros and cons to accessing currencies, so travellers often take a combination of prepaid, credit and debit cards for convenience.
In terms of receiving the best exchange rate, you can either pre-load currency or withdraw when you arrive at your destination.
Get today’s best Australian to US dollar exchange rates before you send money overseas.
Beat the banks, find the best exchange rates and avoid fees when you send money abroad from Australia.
Earn flexible rewards points as you spend and enjoy a big 100,000 bonus points offer with the Citi Rewards Credit Card.
This card offers 0% interest on balance transfers for 36 months, a discounted $29 first year annual fee and platinum benefits including airport lounge passes and complimentary insurance covers.
Enjoy 100,000 bonus Velocity Points, a reduced first-year annual fee and points per $1 spent with the Citi Rewards credit card.
Make simple and small transfers to the Philippines through the IREMITX app.
The American Express Velocity Business Card earns points per $1 spent and offers complimentary travel insurance and two complimentary Virgin Australia lounge passes each year.
The American Express Business Card offers reliable service, a wide range of benefits, additional features, and competitive fees.
The Amex Qantas Business Rewards Card offers 150,000 bonus Qantas Points, no pre-set spending limit and platinum perks including complimentary insurances.
Pay 0% interest on balance transfers and get a $50 Kogan.com Credit with a new Kogan Money Black Card.
If I had a Citibank plus account which allows me to withdraw funds my own account without fees, would I be likely to get a better exchange rate in the US on the day of withdrawal rather than getting a travel card and preloading it with US dollars?
Hi Therese,
Thanks for getting in touch! Having a travel money card locks in exchange rates for times when you use the card and the exchange rate on the day is lower. That is the advantage, however, since exchange rates are volatile, for times that exchange rates are higher than when you exchanged and locked in your money, that would be the disadvantage.
Hope this helps. Feel free to reach out to us again for further assistance.
Best,
Nikki
I am about to travel overseas. I am 64 and never been out of Australia. I will have a credit card. What do you suggest I do for cash transactions. Of course, I do not want to pay lots of fees. I will be away two months. I am looking at incidentals.
Hi Cheryl,
Thank you for getting in touch with Finder.
Having a travel card is a good option if you are not bringing much currency to the country you’re travelling to. Unlike credit cards, travel cards will not charge you cash advance fees and incur interest for withdrawing money from an ATM. You may also lock-in exchange rates.
To help you decide on this matter, you may also use our travel money guide. You may also click on the country you’re going to at the left side of the page to know your travel money options.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Do you have any advice on the best cards to use in Vietnam with the lowest atm fees and transactions fees? Also what banks have the lowest atm fees in Vietnam?
Hi LCM,
Thanks for getting in touch with Finder. I hope all is well with you. :)
The best card to use in Vietnam would depend on your needs, preference, and budget. You may refer to our Vietnam travel money guide. On that page, you will see a table that allows you to conveniently compare your travel money options for Vietnam. You would also be able to compare your options based on ATM and transaction fees. Once you found the right one for you, click on the “Go to site” green button to learn more or initiate your application.
I hope this helps. Should you have further questions, please don’t hesitate to reach out again.
Have a wonderful day!
Cheers,
Joshua
Hi,
I’m going to Thailand. Which travel card is the best to use there?
Hi Adel,
Thank you for getting in touch with Finder.
Basically, Visa and Mastercard branded travel cards, debit cards and credit cards can be used for over the counter purchases and ATM withdrawals in Thailand. There’s quite a few Australian travel cards support the Thai baht such as the ANZ Travel Card, NAB Traveller Card, Qantas Cash Card, Velocity Global Wallet and more. Choosing the best travel card for you depends on your travel needs and lifestyle. You may use our travel money guide for Thailand and compare your options.
I hope this helps.
Please feel free to reach out to us if you have any other enquiries.
Thank you and have a wonderful day!
Cheers,
Jeni
I am travelling to New Zealand in a couple of weeks & thought of a travel card.Next year we are doing a big trip to Europe would I be able to use same card??Also do I just load Aus$ onto card & chose currency I need in relevant country or buy the relevant currency prior to travelling
Hi Carole,
Thanks for reaching out to finder.
Yes, you will still be able to use your travel card for your future travel to Europe, provided it has not expired yet as these cards also have expiration dates.
You can just load AUD into your travel money card and convert it to any of the currencies it supports at anytime you feel the need to, then use it to pay for your purchases or withdraw the money in any ATM with Visa/Mastercard logo. Please note that certain fees will apply such as currency conversion and ATM withdrawal fees.
Please make sure that you read the product disclosure statement and terms of agreement to see what works best for your needs, before making a decision. Hope this helps.
Cheers,
Charisse
Hi,
I’m travelling to Peru from Australia soon and looking at prepaid travel cards.
I can’t see any with the Peruvian Sol so if I was to load a card do I load from Aussie dollars to US dollars? Then when withdrawing from an ATM I get Peru sol? Does this mean I will get charged two times for the conversion?
Hi Cathy,
Thank you for getting in touch with Finder.
Most of the Australian prepaid travel money cards have currencies from the top 10 most popular destinations for Australian travellers. Unfortunately, Peru is not one of them that’s why Sol is not included yet. It doesn’t necessarily need that you will convert from AUD to USD. You are correct, whenever you use your prepaid travel card in Peru, the currency that will be deducted will be your default currency, let’s say AUD, that depends on which currency you load up on your prepaid card. You can choose a default currency from the supported currency of your card. As per this page, prepaid travel cards have no currency conversion and international ATM withdrawal fees.
As a friendly reminder, while we do not represent any company we feature on our pages, we can offer you general advice. I suggest that you contact the card issuer directly once you have your travel card for further assistance.
For your reference, you may also check our travel money guide for Peru to help you decide which prepaid travel card to use.
I hope this helps.
Have a great day!
Cheers,
Jeni
I have some Euro in cash that I wanted to load onto a card to spend overseas instead of carrying cash. But the cards I’ve looked at would convert the Euro to AUD during loading, then back to Euro stored on the card and I lose money on each conversion. Is there a card that will accept direct load of foreign currency?
Hello Andy,
Thank you for your comment.
This means that your card provider draws funds from your account according to the default currency order at their prevailing exchange rate, and it charges you a fee on top of that for converting currencies. It’s important to note that a currency order applies. The stored value currency order determines the order in which funds are loaded and the order in which fees or transactions are debited from your card.
The default order is usually determined by your card provider, but some card providers offer flexibility by allowing you to change this order on your account.
For instance, with the ANZ Travel card, you may change the stored value currency order at any time online or by calling the ANZ customer service centre. See our travel money guides for more details.
Regards,
Jhezelyn
I will be travelling to Europe in 4 months time. Are there any pay wave travel cards available?
Hi Janet,
Thanks for your question.
Currently, we don’t feature any travel card with Visa Paywave. This feature is typically available on debit or credit cards. You may compare bank accounts and credit cards with contactless payment using our comparison table. Once you are ready to sign up, you can click on the ‘Go to site’ button to be securely redirected to the bank’s website.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
Cheers,
Anndy
Hi
I’m looking for a prepaid travelcard that both myself and wife can use i.e. a joint account card.
I cannot seem to find such a thing!
reagdrs
Gary
Hi Gary,
Thanks for leaving a question on finder.
There is no prepaid joint travel cards. You will have to get one for you and your wife.
Cheers,
Joel
If I have a zero balance on my travel card and have not used it for 18 months, will the monthly inactivity fee for that period be deducted when I reload my card??
Hi Nancy,
Thanks for your question.
For most travel cards, the inactivity fee is charged if you don’t use the card for 12 months and there’s still money remaining on the account. If you have a zero balance in your account, you’ll typically not incur any inactivity fee and no amount will be deducted when you reload.
Kindly note that this is a general information only. You may have to directly contact your specific card provider to confirm.
I hope this helps.
Cheers,
Anndy