How do you top up travel money cards?

You can top up your travel money card if you need more money while you're on your trip. Depending on your specific travel money card, you can reload your card online, using BPAY, through your bank's app or via your bank's branch. Look into the card you are topping up because some methods do incur fees e.g. the Qantas Pay Card has an instant reload fee of 0.5% while its BPAY and bank transfers are free.

Can you get your money back if you don't spend it all?

You can generally get your money back if you don't end up spending it all while overseas. However, you might encounter fees to get the remaining money back into your regular bank account.

What should I do if my travel money card is lost or stolen?

The first thing you should do upon discovering that your card is missing is call your card provider. Reporting the theft or loss immediately will help protect the funds on your card. Most of the card companies provide 24/7 customer service emergency numbers. Some even accept reverse charges, so it can be as simple as dialling the operator to connect your collect call. If you dial the number directly, you may be charged for the call. CommBank Travel Money Card: +61 2 9999 3283 Cash Passport Platinum Mastercard: +44 207 649 9404 Qantas Pay Card: +61 1300 825 302 Travelex Money Card: 1800 303 297 Revolut: +61 1300 281 208

What are the travel money card exchange rates?

Travel credit cards typically use the Mastercard or Visa network and use the daily exchange rates that the networks provide. You can find out the daily exchange rate by going to the Mastercard or Visa website. Prepaid travel cards allow you to lock in the exchange rate beforehand, so if you find a favourable one you can lock it in and not have to worry about fluctuations while you're away.

What is a cross currency conversion fee?

A cross currency conversion fee is charged when you use your Australian card with Australian dollars to make a purchase in a foreign country. The money is exchanged from Australian dollars into the local currency electronically. You can avoid this fee by choosing to pay in the local currency.

When are inactivity fees charged with prepaid travel cards?

If you have a travel card that charges an inactivity fee (a fee that's charged every month when your account is inactive for a period of time), you will lose any remaining funds on the card, but your account won't go into a negative balance. Once the card has a zero balance, this fee will not be charged.

Travel Money Cards 2026: 10 Options Compared

When you travel, you have 4 options for currency: exchange cash, use a credit card, your debit card, or a pre-paid travel money card.
Travel money cards let you pre-load money in a local currency and start spending when you arrive. You can often get better exchange rates this way and there are no transaction fees.
But some credit and debit cards offer 0% foreign transaction fees. Just check the exchange rate. And in some countries, cash is still king. But it's good to have a backup card.

Travel money card comparison

6 of 10 results

Finder Score	Available Currencies	ATM Withdrawal Fee	Initial Load Fee	Reload fee
8.4 Great Wise Travel Money Card	8.4 Great	AUD, USD, CAD, EUR, GBP, HKD, CNY, JPY, NZD, SGD, THB, VND, AED, ZAR, DKK, SEK, CHF, IDR, MYR, PHP, PLN, CLP, CZK, KRW, HUF, NOK, ILS, KES, LKR, HRK, INR, MAD, MXN, PKR, BGN, EGP, RON, TRY	Free ATM withdrawals per month up to AUD$400, then 2.69% per withdrawal	$0	$0	Free ATM withdrawals up to $400 per account per month, allows more than 40 different currencies, can be used in more than 160 countries and withdraw money from 3 million ATMs worldwide.	Go to site View details Compare product selectionCompare	loading
9.9 Excellent Revolut Travel Money Card	9.9 Excellent	AUD, USD, CAD, EUR, GBP, HKD, CNY, JPY, NZD, SGD, THB, VND, AED, ZAR, DKK, SEK, CHF, IDR, PHP, PLN, CLP, CZK, SAR, KRW, HUF, NOK, ILS, COP, QAR, INR, MAD, MXN, BGN, EGP, ISK, KZT, RON, RSD, TRY	Standard: No ATM fee for the first $350 worth of withdrawals per month, then 2% per withdrawal Plus: No ATM fee for the first $350 worth of withdrawals per month, then 2% per withdrawal Premium: No ATM fee for the first $700 worth of withdrawals per month, then 2% per withdrawal Metal: No ATM fee for the first $1,400 worth of withdrawals per month, then 2% per withdrawal Ultra: No ATM fee for the first $3,500 worth of withdrawals per month, then 2% per withdrawal (ATM providers may apply their own fees)	$0	$0	Get $15 when you spend $15 within the first 14 days of opening your new Revolut account. Ends 31 Dec 2026. T&Cs apply.	Go to site View details Compare product selectionCompare	loading
8.6 Great Australia Post Travel Platinum Mastercard	8.6 Great	AUD, USD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, AED	Overseas: $3.50 AUD or equivalent in foreign currency Some ATM operators may charge their own fee Domestic: 2.95% of the amount withdrawn	$0	$0	Holds up to 11 currencies with $0 currency conversion fees when you load and spend in the same currency.	View details Compare product selectionCompare	loading
8.3 Great Travelex Money Card	8.3 Great	AUD, USD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB	Overseas and domestic: $0 but some ATM operators may charge their own fee	$0 (via online) or $0 (via branch)	$0	Lock in exchange rates for up to 10 currencies, pay no overseas ATM fees and get exclusive merchant offers.	View details Compare product selectionCompare	loading
8.2 Great Westpac Worldwide Wallet	8.2 Great	AUD, USD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, ZAR	AUD $2.00, USD $2.00, GBP £1.50, EUR €2.00, NZD $3.00, CAD $2.50, HKD $15.00, SGD $3.00, JPY ¥200, THB ฿75.00, ZAR R20.00	$0	$0	$0 transaction, loading and conversion fees, plus free withdrawals at Global ATM Alliance ATMs.	View details Compare product selectionCompare	loading
7.8 Great Cash Passport Platinum Mastercard	7.8 Great	AUD, USD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, AED, ZAR, DKK, SEK, FJD, CHF, NOK	USD $2.50, EUR €2.50, GBP £2.00, NZD $3.50, THB ฿80.00, CAD $3.50, HKD $18.00, JPY ¥260.00, SGD $3.50, AUD $3.50, CHF CHF2.00, FJD $5.00, ZAR R42.00, AED 9.00, SEK kr21.00, DKK kr14.00, NOK kr23.00	$0 (via online) or $0 (via branch)	$0	Up to 17 currencies on 1 card locked in exchange rates and no load fees.	View details Compare product selectionCompare	loading

Showing 6 of 10 results

What is a travel money card?

A travel money card is a prepaid card which you can add multiple foreign currencies onto to use while you're travelling overseas. You can use it to make purchases and withdraw cash from ATMs.

You can lock in your exchange rate before you travel and then top up the card via your bank account if you need more cash.

Unlike most credit and debit cards, travel money cards don't have an international or foreign transaction fee when you use the card overseas.

How to find the best travel money card

The best travel money card gives you:

Minimal fees: including ATM fees, reloading fees and card closure fee
Better conversion rates in your local currency
The option to lock in exchange rates before you leave
The option to add multiple currencies onto the one card
Digital wallet compatibility so you can add the card to Apple Pay or Google Pay
Low or no additional cost to convert your left-over money back to AUD
Security, including card pin

You can use the Finder Score as a quick way to figure out which travel money cards offer more value for money. We score each card out of 10. The higher the score, the better the card.

What are the travel money card fees I should know about?

ATM withdrawal fees: Fees change depending on which card you have and which country you're in.
Initial load and reload fees: Some cards charge you when you first put foreign currency onto the card and/or when you add more money to your balance.
Currency conversion fees: Depending on the card, you can pay up to 5% or more in currency conversion fees.

Are there any fee-free travel money cards?

There are plenty of travel money cards that don't charge an initial loading fee or a reload fee. This means loading up the card with cash is fee-free.

Some of these cards even give you a limited amount of fee-free ATM withdrawals. But most will charge you some kind of ATM fee depending on how many withdrawals you make.

The Finder Score for travel money cards gives higher scores to cards with lower fees.

Finder survey: Would you use a travel card again for a future trip?

Overall, almost all Australians who used a travel money card in the past would use one again in the future.

Response
Yes	96.52%
No	3.48%

Source: Finder survey by Pure Profile of 1009 Australians, December 2023

The pros and cons of travel money cards

Advantages of travel money cards

Pre-load your funds. Depositing your money on the card in advance can help you to stick to a budget, though you can always reload if needed.
Multiple currencies. You can convert Australian dollars into several supported currencies (great for a multi-country trip) and avoid currency conversion fees.
Locked-in exchange rates. When you put money on the card it's converted to the local currency based on the exchange rate at that time. This means you don't have to worry about a sudden spike in exchange rates costing you more money.
Frequent flyer points. The Qantas Pay prepaid card means you'll earn frequent flyer points for your spending both overseas and in Australia.
ATM fees. Many travel money cards don't charge overseas ATM fees.

Disadvantages of travel money cards

Additional fees. Some card charge additional fees including ATM, reloading, account closure and inactivity fees.
Reload delay. Some cards may take a few days for the money to be available on the card.
Acceptance. Travel money cards are not as widely accepted as debit or credit cards in some countries.

But you have other options aside from prepaid travel money cards.

Using a credit card overseas

Most credit cards hit you with a fee of 1–3.5% for each overseas transaction you make. This gets expensive fast. If you spent $4,000 on your credit card while travelling, a 3.5% transaction fee would you cost you $140.

But there are several credit cards with a 0% foreign transaction fee. These can save you money in fees like a prepaid travel money card.

Unlike a travel money card, you have to pay the bank or card provider's exchange rate each time you use the card. These rates tend to be higher than the most popular travel money cards like Wise and Revolut.

Advantages of using a credit card

Flexibility. Credit cards allow you to borrow money up to the card's limit. So if you're travelling and don't have all the funds you need in your account, you can put your purchases on credit and pay it back over time.
Rewards. If you use a credit card you might be eligible for rewards or frequent flyer points such as access to airport lounges or flight upgrades.
Complimentary travel insurance. Some credit cards come with complimentary travel insurance. This can help you save on paying for additional travel insurance.
Security. Credit cards come with a range of security features including fraud-monitoring services and zero-liability policies that help protect you if your card is lost, stolen or used for fraudulent transactions.

Disadvantages of credit cards

Annual fees. Unless you have a $0 annual fee credit card, you'll usually have to pay an annual fee for the account.
Interest. If you aren't able to pay off your purchases within the interest free period, you'll end up having to pay interest on your balance.
Currency conversion costs. Make sure to look for a card that doesn't charge currency conversion or foreign transaction fees, otherwise you'll rack up fees every time you use your card for purchases in the local currency.
Exchange rates. When you travel overseas with an Australian credit card, your Australian dollars convert to the local currency. The exchange rate depends on your bank or card provider but is often higher than a travel money card's rate.

Compare 0% foreign transaction fee credit cards

5 of 25 results

Foreign currency conversion fee	Interest-free days	Purchase rate p.a.	Annual fee
Virgin Money Anytime Rewards Credit Card	0%	Up to 44 days on purchases	Intro purchase rate 21.99%	$169	Go to site View details Compare product selectionCompare	loading
Virgin Money Anytime Rewards Credit Card - Balance Transfer Offer	0%	Up to 44 days on purchases	Intro purchase rate 21.99%	$169	Go to site View details Compare product selectionCompare	loading
NAB Rewards Travel Card – Velocity Points	0%	Up to 44 days on purchases	Intro purchase rate 22.49%	$395	Get up to 90,000 bonus Velocity Points: 50,000 points when you spend $5,000 in the first 90 days and 40,000 points when you keep your card open for over 12 months. Plus, no foreign transaction fees.	Go to site View details Compare product selectionCompare	loading
ING Orange One Rewards Platinum Most Loved	0%	Up to 45 days on purchases	Intro purchase rate 16.99%	$149	Up to $30 cashback per month and $0 ATM fees. Available when you hold or open an Orange Everyday bank account.	Go to site View details Compare product selectionCompare	loading
ING Orange One Low Rate Most Loved	0%	Up to 45 days on purchases	Intro purchase rate 12.99%	$48	This card comes with a loyalty program with built-in cashback offers. It also offers instalment plans to help you pay off purchases over time at a lower interest rate.	Go to site View details Compare product selectionCompare	loading

Showing 5 of 25 results

Using a debit card overseas

There's even a few debit cards (the ones attached to your everyday bank account) that offer a 0% foreign transaction fee. This makes life easy because you can just use your debit card. All you need to do is make sure you have money in your account.

Like with credit cards, you can't lock in your exchange rate in advance. And your bank probably offers a less competitive exchange rate than a travel money card.

Advantages of debit cards

Card fraud protection. If you use your debit card, your money will be protected if you are a victim of fraud while you're away.
Easy access to your own money. Unlike a prepaid card or a credit card with a loaded amount of funds, a debit card gives you direct access to your transaction or savings account when you're in another country. This can save you time loading money on a prepaid card and can help you avoid interest charges that could apply on a credit card.
ATM availability worldwide. If your debit card is a Visa or Mastercard, you should be able to withdraw money from ATMs around the world.
Worldwide acceptance. Most countries accept both Visa and Mastercard debit cards.

Disadvantages of debit cards

Foreign transaction fees. Unless your debit card offers 0% international transaction fees, you could be charged between 1% and 4% for payments made overseas.
Dynamic currency conversion. Paying in Australian dollars means the transaction will be processed using dynamic currency conversion, which usually adds between 6% and 8% to the transaction cost. Tip: when given the option, choose to pay in local currency to avoid this cost.
Exchange rate. You will receive the daily exchange rate for your withdrawal from Mastercard or Visa. Due to the uncertainty of exchange rates, this may be favourable or provide a lower rate than securing a rate with a prepaid travel card before you leave the country.

Compare 0% foreign transaction fee debit cards

5 of 14 results

Finder Score	Monthly fee	Own network ATM fee	International transaction fee	International ATM Fee
Finder score 9.5Excellent AMP Bank GO Everyday Account Apple PayGoogle Pay	Finder score 9.5Excellent	Monthly fee $0	Own network ATM fee $0	International transaction fee 0%	N/A	Double points: Earn double Qantas Points on your average monthly Everyday Account balance. Up to $500,000. Ends 31 Jan 2027. T&Cs apply.	Go to site View details Compare product selectionCompare	loading
Finder score 8.2Great ME SpendME Transaction Account Apple PayGoogle PaySamsung Pay	Finder score 8.2Great	Monthly fee $0	Own network ATM fee $0	International transaction fee 0%	N/A	Charity donations: ME will donate 1 cent to charity every time you tap your SpendME digital card. Choose from 5 charities. T&Cs apply.	Go to site View details Compare product selectionCompare	loading
Finder score 8.7Great Virgin Money Go Account Apple PayGoogle PaySamsung Pay	Finder score 8.7Great	Monthly fee $0	Own network ATM fee $0	International transaction fee 0%	N/A	Score 5,000 Bonus Points: New customers can earn 5,000 Virgin Money Bonus Points for opening a Go Account by meeting the Welcome Offer Criteria. T&Cs apply.	Go to site View details Compare product selectionCompare	loading
Finder score 9.8Excellent Suncorp Bank Everyday Options Account Apple PayGoogle Pay	Finder score 9.8Excellent	Monthly fee $0	Own network ATM fee $0	International transaction fee N/A	N/A	View details Compare product selectionCompare	loading
Finder score 9.7Excellent ING Orange Everyday Account Apple PayGoogle Pay	Finder score 9.7Excellent	Monthly fee $0	Own network ATM fee $0	International transaction fee 0%	N/A	Cashback: Get a 1% utility cashback worth up to $100 per year with eligible providers. T&Cs apply.	Go to site View details Compare product selectionCompare	loading

Showing 5 of 14 results

Can I just use cash overseas?

You could just travel with a whole bunch of cash. You could exchange money before you travel, but you might not get the best exchange rate (check your local bank and also money exchange services).

If you wait until you arrive at your destination you might not find a money exchange place immediately, leaving you without any cash.

Depending where you travel, cash might be widely accepted or rarely used at all. There's also a security aspect to consider: it's easier to lose a bunch of physical cash than money secured on a card.

Our expert says: I still don't know what happened to my wallet

"Many years ago while backpacking in Cambodia I lost my wallet. Along with $500 USD in cash. There was zero chance I was ever getting that money back. Nowadays I travel with a prepaid travel money card and a backup credit card. But I always bring a little bit of local cash just in case."

Richard Whitten

Senior Money Editor

Top travel money tips

Here are our top travel money tips:

Pay for your purchases in the local currency. This will help avoid any currency conversion fees.
Keep an eye on your transactions. It's always a good idea to regularly check your transaction history to make sure there's no unauthorised transactions - and if there are, you should report them to your bank immediately.
Always take more than one travel money option. You don't want to be left stranded if you lose your card or it gets stolen. Consider bringing 2 forms of travel cards to avoid being left cashless in a foreign country.
Keep your travel money in a few different places. Having all your foreign cash and cards in a wallet means you'll have no backup if you lose your wallet. Instead, consider keeping some of your travel money in a separate place. For example, you could keep most of your cash in a hotel safe or a locked part of your luggage.
Inform your bank. If you're using your regular debit or credit card, let your bank know. You wouldn't want your card to be cancelled due to a 'suspicious transaction' while you're overseas because your bank thinks you're still in Australia.

Australian travel statistics

Australia is a nation of travellers. According to the Australian Bureau of Statistics, there were 12,261,080 resident returns from overseas in 2024-25. The most popular reason we travel is for a holiday, and the median trip duration is 15 days.

What is the Finder Travel Money Score?

At Finder we make complicated money stuff simple. One way we do this is with the Finder Score.

We crunch the numbers every month for 13 travel money card providers, scoring each product based on the 5 features most customers care about.

In exchange, you get a simple score out of 10 for each travel money card. The higher the better. It makes comparing simple.

We score travel money cards based on ATM withdrawal fees, daily withdrawal limits, inactivity fees, maximum load amount and the number of currencies you can put on the card.

The Finder Score methodology is designed by our insights and editorial team. Commercial partners carry no weight, and all products are reviewed objectively.

The Finder Score is designed to help you make a better financial decision faster, but there is no best product that fits every customer. We encourage you to consider your own financial circumstances when making a financial decision

Finder Scores explained

9+ Excellent - These are the best travel money cards in Finder's database, with low fees, high maximum load amounts and generous withdrawal limits.
7+ Great - Quality cards that offer a good mix of features with reasonable fees, but a bit short of the best in the market.
5+ Satisfactory - These travel money cards get the job done and may be well suited for certain customers, but the fees are higher and the cards have more limited features.
Less than 5 – Basic - These cards have higher fees than most options on the market and limited features.

FAQs about prepaid travel money cards

You can top up your travel money card if you need more money while you're on your trip. Depending on your specific travel money card, you can reload your card online, using BPAY, through your bank's app or via your bank's branch. Look into the card you are topping up because some methods do incur fees e.g. the Qantas Pay Card has an instant reload fee of 0.5% while its BPAY and bank transfers are free.
The first thing you should do upon discovering that your card is missing is call your card provider. Reporting the theft or loss immediately will help protect the funds on your card.
Most of the card companies provide 24/7 customer service emergency numbers. Some even accept reverse charges, so it can be as simple as dialling the operator to connect your collect call. If you dial the number directly, you may be charged for the call.
- CommBank Travel Money Card: +61 2 9999 3283
- Cash Passport Platinum Mastercard: +44 207 649 9404
- Qantas Pay Card: +61 1300 825 302
- Travelex Money Card: 1800 303 297
- Revolut: +61 1300 281 208
Travel credit cards typically use the Mastercard or Visa network and use the daily exchange rates that the networks provide. You can find out the daily exchange rate by going to the Mastercard or Visa website. Prepaid travel cards allow you to lock in the exchange rate beforehand, so if you find a favourable one you can lock it in and not have to worry about fluctuations while you're away.

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. Australian Bureau of Statistics

Thank you for your feedback!

Written by

Richard Whitten

Senior Money Editor

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Richard Whitten is Finder’s Senior Money Editor, with over eight years of experience in home loans, property, credit cards and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard started his career in education and textbook publishing in South Korea. He holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communications from Deakin University. See full bio

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320 Responses

JohnJuly 28, 2015

I’m travelling to Chile, Argentina, Brazil & Peru in September for 3 weeks on a prepaid trip. My expenses will be modest, probably a few souvenirs and one meal per day plus the odd splash out here and there. I’m looking for advice regarding the best way to handle money.

Finder

SallyJuly 29, 2015Finder

Hi John,

The “best” option for your travel will depend on your financial situation and your travel spending habits. Not many Australian prepaid travel cards support many South American currencies, so you might want to either consider a debit card, credit card, or prepaid card that does not charge foreign transaction or currency conversion fees. However, some South American currencies accept USD, so in this case, a prepaid travel card could come in handy.

It’s always a good idea to have more than one travel money option. So you might want to consider a credit card that is designed for overseas expenses for emergencies and big purchases and a debit or prepaid card and cash for everyday expenses. You should never keep all of your money options on you at one time, try to leave one option in a safe place (such as your hotel safe or with your luggage) to ensure that you are not strapped for cash should you lose your wallet.

You may wish to look over our South America Travel Money guide to get more information.

I hope this has helped.

Thanks,
Sally

KittyJuly 12, 2015

I am travelling to China in August this year. I’ve been told that if I get a travel card it can only be loaded with US dollars & not China’s Yuan money is this correct?. Am I better to take Yuan cash purchased from a Sydney bank before I travel & keep my travel card for larger purchases?

Finder

SallyJuly 13, 2015Finder

Hi Kitty,

Thanks for your question.

Most travel cards allow you to load a variety of currencies (as well as USD). However, not many of them support Chinese Yuan. As such, if you load USD (or another currency, such as AUD) onto your card, you may incur a currency conversion fee when making a purchase in RMB using the funds loaded on your card. Travelling with large amounts of cash can come with certain risks, so make sure to secure your funds while you travel. Your best bet may be to carry some of your cash with you and keep the rest in the hotel safe or another secure location while traveling.

For further tips, you may wish to consult our travel guide to China, Hong Kong and Korea. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you travel.

I hope this has helped.

Thanks,
Sally

FelicityJune 25, 2015

I have heard that business owners do not like accepting these cards overseas. Is this correct?

Finder

SallyJune 25, 2015Finder

Hi Felicity,

Thank you for your question.

This will depend on the card you use and the merchant.

Many travel cards, whether they’re debit, credit or prepaid cards, are supported by Visa and MasterCard and are generally accepted at selected ATMs and EFTPOS terminals internationally.

Depending on whether you’re referring to a travel debit card, a travel credit card or a prepaid travel card, there will be different limitations and benefits on offer.

I hope this has helped answer your question.

Thanks,

Sally

AnneJune 18, 2015

What’s the best and cheapest way to access cash in countries where the currency is not available on a travel money card – eg Knoner and rubles?

Finder

SallyJune 19, 2015Finder

Hi Anne,

Thanks for your question.

If you are unable to find a travel card that supports your desired currency, you may want to consider a no currency conversion fee credit card.

You can compare some of your options from our no annual fee and no foreign transaction fees as well as the table dedicated to no foreign fees credit cards.

You can select the “Go to Site” button of your preferred credit card to proceed with your application. You can also contact the provider if you have specific questions. A gentle reminder, please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.

I hope this has helped.

Thanks,
Sally

RonJune 8, 2015

I am travelling to the UK and a number of European countries in a couple of months time. I have a Bankwest Platinum credit master card which is exempt of foreign transaction fees when used. If I was to load the card with my own money and use my own money for purchases and to withdraw cash would this be a better option to a cash/travel card? Because it is my own money being used will this attract any other fees or charges? Would the conversion of funds to AUS dollars be at the standard master card conversion rate for that day
Thank you

Finder

SallyJune 9, 2015Finder

Hi Ron,

Thank you for your question.

I can confirm that there are some fees and charges involved when using the Bankwest Platinum Credit Mastercard overseas. For example, there is a foreign ATM access fee of $5.00 for ATM withdrawals and balance enquiries. Please note that the foreign exchange fee is waived each time you use your card for purchases.

Yes, that is correct. The daily exchange rate is set by Mastercard. If you load money onto a prepaid travel card, you can only access the funds you load onto the card, so you are only using your own money with this option too.

Please review our travel money guide to compare some of your travel money card options. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you travel.

I hope this has answered your question.

Thanks,
Sally

Travel money cards

Compare prepaid travel money cards for your next overseas trip, and learn about other options like credit cards with no foreign transaction fees.