Suncorp Bank travel money: Prepaid travel cards, traveller’s cheques, foreign exchange, insurance and a partnership with Travelex.
Suncorp Bank provides a variety of products and services you can use on holiday or when you need to send money to an international bank account. Options include a Cash Passport prepaid Visa travel card, foreign exchange (including foreign currency ATMs), travel insurance an international money transfer services.
Travelex also operates from select Suncorp Bank branches in Brisbane and Sydney. Travelex provides traveller’s cheques and a travel card too. Read on for an overview of the different travel money products and services on offer from Suncorp Bank.
Prepaid travel card from Suncorp
The Suncorp Bank Multi-currency Cash Passport allows you to load and spend up to 10 different international currencies when you're overseas or shopping online with an international retailer. This prepaid Visa debit card gives you a way to lock in exchange rates and spend in the currency of your destination to avoid the additional fee for currency conversion.
- Australian dollars
- US dollars
- New Zealand dollars
- Thai baht
- Canadian dollars
- Hong Kong dollars
- Japanese yen
- Singapore dollars
Note that there are fees for international ATM withdrawals, starting from AUD$3.50. Meanwhile, domestic ATM withdrawals in Australian dollars attract a cost worth 2.95% of the transaction value. There’s an initial load fee of $15 and a BPAY reload fee of 1% when you deposit funds on the travel card. The minimum load is AUD$100. You can save on these reload fees by using the Suncorp travel card online portal to both order and reload the product.
Suncorp Bank and Travelex sell American Express traveller’s cheques in different currencies. Traveller’s cheques are considered one of the safest way to take money to a different country. Traveller’s cheques can be replaced if lost or stolen and you’re the only person who can cash your cheques. The downside to this type of travel money is convenience. It’s getting increasingly difficult to find institutions where you can cash your cheques, and often there’s a commission.
If you want to have some cash when you arrive overseas, Suncorp Bank provides ATMs at limited locations which dispense foreign currency. There are also Travelex foreign exchange bureaus inside selected Suncorp branches. The Suncorp branches with a Travelex bureau provide a greater variety of travel money services. Suncorp branches also buy and sell foreign cash, and most branches have a variety of international currencies on hand. Note that you’ll pay a $10 fee to buy or sell foreign cash at a Suncorp branch.
- Foreign currency ATMs. Foreign currency ATMs are located the following Suncorp Bank branches in Queensland: Kawana Waters, Garden City, and Eagle Street Sales Centre. These ATMs dispense euros, pounds, New Zealand dollars and US dollars. You can use your Visa or Mastercard debit or credit card to withdraw foreign cash from these ATMs. Note that American Express cards can not be used at Suncorp Bank foreign currency ATMs.
- Travelex bureaus. You can also find Travelex outlets inside select Suncorp Bank branches on George Street (Sydney), Chermside (Brisbane) and Edward Street (Brisbane). Travelex and Suncorp Bank provide these travel money services:
- Buy foreign cash
- Buy the Cash Passport travel money card
- Buy traveller’s cheques
- Send money overseas using Western Union
- Buy prepaid international phone cards.
You can access complimentary travel insurance for up to six months if you use your Suncorp Clear Options Platinum Visa credit card to pay for your return overseas travel ticket. This product also offers transit accident insurance. The complimentary travel insurance benefit on the Clear Options Platinum Visa is provided by Allianz.
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Suncorp also provide their own travel insurance policies if you want to take out cover specifically for your trip. You can choose between Suncorp Holiday Travel Insurance and Suncorp Annual Multi-Trip Cover. These policies provide cover for overseas medical and dental, loss of luggage, cancellation of travel plans, hospital allowance and provides personal liability insurance. The Annual Multi-Trip policy also includes a benefit for loss of income and to cover the expense of organising a substitute to complete whatever overseas business arrangements.
Suncorp Travel Money frequently asked questions
Can I send money overseas using Suncorp Bank?
Suncorp provide an overseas telegraphic transfer service you can use to send money overseas. You can make a global payment in the following international currencies:
- AUD (Australian Dollar)
- CAD (Canadian Dollar)
- CHF (Swiss Franc)
- DKK (Danish Krone)
- EUR (Euros)
- FJD (Fijian Dollar)
- GBP (British Pound)
- HKD (Hong Kong Dollar)
- INR (Indian Rupee)
- JPY (Japanese Yen)
- NOK (Norwegian Krone)
- NZD (New Zealand Dollar)
- PGK (Papua New Guinean Kina)
- PHP (Philippine Peso)
- SEK (Swedish Krona)
- SGD (Singapore Dollar)
- THB (Thai Baht)
- USD (United States Dollar)
- ZAR (South African Rand)
You can also choose to send Australian dollars and let the receiving bank handle the currency conversion if the currency you want isn’t listed above.
Before you make an international payment you’ll need to order an online security token. The cost of the token is $20 and can be purchased from within the Suncorp Bank online banking facility. Once you've got your security token, you'll need the right information for the account you want to transfer the funds to. This may include the International Bank Account Number (IBAN), Swift Code, Sort Code or Routing Number. This information is generally available on receiving institution’s website.
What foreign exchange rate will I get?
The foreign exchange rate you get will vary depending on a range of factors and are updated daily. Refer to the Suncorp Bank website's Daily Exchange Rates page for details of current rates.
How long does it take to send money overseas?
Generally speaking, it should take between two and five business days to send funds from Australia to an overseas account. This is not a hard and fast rule as there may be circumstances outside Suncorp’s control that can delay this process. Public or bank holidays may add to the time it takes for the funds to clear in the overseas account.
I'm overseas and have lost my card, what should I do?
f you have lost your card or it's been stolen overseas, call +61 7 3362 1712 or +61 13 11 75 immediately. Also note that it's generally good practice to notify your bank of your travel plans before you leave. This way, they won't block your card when they see an irregular transaction. I
How long does it take for a BPAY transaction to be processed?
BPAY payments generally take two working days to be processed, but may take longer in some cases. Note that if you choose to top up the Suncorp travel card using BPAY, a 1% reload fee applies. You can avoid this fee by following the payment steps listed on the Suncorp Bank online travel card portal.
What fees I will have to pay when I use my Suncorp credit card or debit card overseas?
Suncorp Visa Debit and credit card products can be used overseas wherever Visa is accepted. Take note of the following fees:
|Currency conversion fee||Suncorp Bank Visa debit cards: 3% of the transaction valueSuncorp Bank Visa credit cards: 3.4% of the transaction value|
|International ATM withdrawal fee||$5 when you make a withdrawal at an overseas ATM using your credit card or debit card. Note the ATM operator may charge a fee in addition to the international ATM withdrawal fee.|
|Cash advance fee||Domestic: 3.50% of the Transaction amount for each cash advance withdrawal within Australia, with a minimum charge of $3.50 per transaction.International: 1.5% of the transaction value. Charged when you use your Suncorp credit card to withdraw cash overseas.|
|Cash advance interest||Rates vary, so check your credit card account details for the current cash advance interest rate. Note your cash advance transaction will start to accrue interest right away.|