Lock in exchange rates, load multiple currencies and easily manage overseas spending with a MasterCard Cash Passport. Learn more about these options and compare cards to find the right travel money option for you.
MasterCard Cash Passport is a travel money option designed to make it easy to spend foreign currency. These prepaid debit cards let you lock in exchange rates before you travel so that you can budget more effectively and reduce the cost of foreign transaction fees.
Cash Passport cards can also be used at over 29 million locations and 60 countries across the MasterCard network, either when you travel or shop online with an international retailer. With multi-currency, single currency and business options, Cash Passport provides a range of convenient, secure and affordable debit cards you can use for overseas spending.
Prepaid travel card from Cash Passport
What travel money options does Cash Passport provide?
MasterCard Cash Passport has two main options for you to choose from:
- Multi-Currency Cash Passport. You can use the Multi-Currency Cash Passport to load and spend money with 10 currencies on the one card. You can also load just one foreign currency onto the card if you are only travelling through one country or region.
- Corporate Cash Passport. An option designed for companies that want to manage overseas spending, this option has individual cards for employees, a central online management system and instant issuance.
These cards let you load and convert currencies 24/7 through an easy to use online portal, giving you a chance to manage your balance and lock in competitive exchange rates wherever you are in the world. Currencies available with a MasterCard Cash Passport include:
- Australian dollars
- Canadian dollars
- Great British Pounds
- Hong Kong dollars
- Japanese Yen
- New Zealand dollars
- Singapore dollars
- Thai Baht
- US dollars
It’s important to note that the range of currencies available does vary depending on the Cash Passport card you choose, so make sure you look at each option before deciding on one that is right for you.
Features and costs of Cash Passport travel money products
Multi-Currency Cash Passport
The Multi-Currency Cash Passport is designed to make travel and shopping around the world easier by giving you access to up to 10 different currencies on the one card.
Cash Passport will automatically select the appropriate currency based on where you are in the world, so all you have to do is make a payment in person or online as you would with a regular credit card or debit card. Other features of the card include:
- Internet banking and mobile banking. Manage your money and convert currencies wherever you are using the Cash Passport internet or mobile banking services.
- Multiple currencies. The Multi-Currency Cash Passport allows you to load money in up to ten currencies. The currency options for this card are: AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD
- Drawdown sequence. When you are transacting with a currency that is not loaded on the card, your card will draw currencies in the following order 1. AU$, 2. US$, 3. EU€, 4. GB£, 5. NZ$, 6. TH฿, 7. CA$, 8. HK$,9. JP¥, 10. SG$.
- Fee free international ATM withdrawals. Cash Passport does not charge any fees when you use the card to get cash out from an international ATM.
- Daily exchange rates. Exchange rates change daily, so you can choose when you convert currency on the card to lock in a great deal.
- Security. Cash Passport comes with chip-and-PIN technology to help keep your details safe. You also have the benefit of MasterCard’s Zero Liability Policy to protect you against unauthorised transactions.
- 24/7 Global Assistance. Get help or ask questions about the card at any time and from anywhere through the Global Assistance team.
- Free online loading through Cash Passport. It’s free to top up your Cash Passport online through the Cash Passport website.
- Free secondary card. Get an additional card to use as a backup at no extra cost.
Fees and limits
While there are a lot of benefits to getting a Multi-currency Cash Passport, there are also a number of potential costs and limits you need to be aware of before you choose this card. These include:
- Initial card fee. When you get your card, you will be charged 1.1% of your initial load or $15, whichever is greater.
- Money loading limits. You can load amounts between $100 and $100,000 daily depending on your budget and needs.
- BPAY Fee. An additional 1% per transaction is charged for BPAY transfers to the card.
- Domestic ATM withdrawal charge. If you get cash out at an Australian ATM, you will be charged an extra 2.95% per transaction.
- Monthly inactivity fee. A fee of $4 is charged for every month the card is not used.
- Negative balance fee. A $20 fee applies if you spend more money than you have on the card.
- Cash out fee. If you want to withdraw the balance of your card, it will cost you $10.
- Card closure fee. If your card is inactive for 12 months you will be charged a fee of $4 per month of inactivity thereafter, and if you choose to close your account you will be charged $10.
Weighing up these factors and reading through the Product Disclosure Statement before choosing this card will help you decide if it is the right option for you.
Single Currency Cash Passport
If you only plan to use one particular currency when you go overseas or shop online, then a single currency prepaid travel card could be a good option. With the Multi-Currency Cash Passport, you can actually choose to load just one currency onto the card. That means you can access the currency you need, and have the flexibility to reuse the card if you decide to go somewhere else in the future.
Corporate Cash Passport
The Corporate Cash Passport is designed to be a flexible and affordable alternative to cash, travellers cheques and business credit cards for companies that want another way to manage cash flow. There are four key ways the Corporate Cash Passport can be used to suit a range of business needs:
Features and costs
- Business expenses. This prepaid business expenses card allows companies to monitor and manage their business travel expenses more efficiently by centralising all spending through the Cash Passport online portal. It can be used at millions of ATMs and retailers around the world to withdraw local currency or purchase goods and services.
- Payouts. Your business could use Corporate Cash Passport cards as a way to pay customers or employees, getting rid of the need for cheques or bank transfers. It can also be a great option for commission payments and staff incentives.
- Per Diem. Airlines and other related businesses could use the Corporate Cash Passport as a more cost effective way to make payments, with audit trails and a centrally automated loading platform that can streamline the process.
- Compensation. The centrally managed Cash Passport system means you can pay employees and customers quickly whenever you need to and keep track of the process from one central account.
Corporate Cash Passport cards are available in British Pounds, Euros and US dollars and can be used for payments in person and online, just as with any credit card or debit card (providing there are sufficient funds on the card). This type of card is best suited for businesses that want an alternative to corporate credit cards, particularly if frequent travel is part of the job.
Frequently asked questions about Cash Passport Travel Money
How do I apply for a Multi-Currency Cash Passport?
You can apply for a Multi-Currency Cash Passport online or in-store from a range of retailers, including Australia Post and Harvey World Travel stores.
How do I check my balance?
You can check your balance and view your transactions history with an online account which you can set up on the Multi-Currency Cash passport website.
Can I use my card online?
You can use your card to shop online at any merchants that accept MasterCard.
How long will it take to receive my card?
If you purchase your card in store you will receive your card immediately and be able to use it within two hours. If you purchase your card online you will receive your card within five business days of receiving your payment.
Are there any countries where this card will not work?
Yes. Certain countries have sanctions which restrict the use of a Cash Passport. The countries currently affected by these sanctions are Cuba, Iran, North Korea, Sudan and Syria.
How do I reload my card?
Your Cash Passport is valid up until the expiry date listed on the card, and you can reload your card at any time. You can reload your card at the place you purchased it or online via BPAY.