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Travelex Money Card review

Sally McMullen
Sally McMullen
Last updated:  

Travel light by loading multiple currencies at locked-in exchange rates on a Travelex Money Card.

The Travelex Money Card is a prepaid Mastercard that lets you load and spend money in up to 10 major currencies. This gives you a way to save on overseas ATM fees and conversion fees as long as the card is loaded with enough of the currency you're using when you travel.

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Details

What currencies can I load on the Travelex Money Card?

The Travelex Money Card supports 10 currencies:

  • Euros
  • Great Britain pounds
  • New Zealand dollars
  • US dollars
  • Canadian dollars
  • Singapore dollars
  • Japanese yen
  • Hong Kong dollars
  • Thai baht
  • Australian dollars

You can hold up to all of these 10 currencies on your card and transfer between currencies any time at the prevailing Travelex retail foreign exchange rate.

When paying for a purchase abroad, the card will be automatically debited in that country's currency where there is an available balance. Where you transact in a currency that isn't supported or sufficiently loaded on your card, the card will then automatically deduct funds from other available currencies according to the default currency order:

For example, you make a purchase in New York for US$300 but only have US$200 on your travel card. Following the currency order, your AUD currency wallet will automatically be debited the outstanding US$100. Because you only have AUD$100 available, the card will then look to your euro currency wallet to deduct the remaining transaction balance. In the event you have no euros, your British pounds will be debited.

Every time you don't have the supported or sufficient currency on your card to pay for a transaction, you will be charged a 5.95% currency conversion fee on the transaction value. The exchange rate applied to convert available currencies into the required transaction currency is determined by Mastercard and varies daily. This effective Mastercard "FX Rate" is taken at the time your transaction is processed.

Where can I use my Travelex Money Card?

The Travelex Money Card is a prepaid Mastercard that you can use online or in-store at Mastercard merchants worldwide. You may also use it to withdraw cash from international ATMs wherever the Mastercard logo is displayed. However, you may not use it for manual or offline transactions, for any unlawful activity, or where economic or trade sanctions are imposed.

Features of the Travelex Money Card

Compare some of the perks and features you can expect:

  • Locked-in exchange rates. Avoid exchange rate fluctuations by locking in your currency exchange rates ahead of travel. This offers peace of mind and also helps you stay in control of your travel budget.
  • Complimentary Wi-Fi access. This card offers complimentary Wi-Fi access at millions of locations around the world through Boingo. Just pre-load up to $100 on your card, then register via the Boingo website to get up to three months free Wi-Fi for up to four devices at a time.
  • Additional card. Get an additional card for $5 so you'll have a spare card handy in case of loss, theft or damage to the first card.
  • Worldwide ATM alliance. Withdraw local currency from millions of ATMs worldwide, wherever the Mastercard logo is displayed.
  • ATM withdrawal fees. Save on international ATM fees with this card. However, be aware that the ATM operator may directly charge their own fee. There is also a 2.95% fee of the amount withdrawn when you make an ATM withdrawal within Australia.
  • Smartphone app. Get the Travelex Money app on your smart device so you can manage your account on-the-go. Check your balances and transactions or top up any time using this app.
  • Account and withdrawal limits. Your maximum balance allowed across all currencies over a 12-month period is $100,000 or its equivalent, your daily ATM withdrawal limit is $3,000 or its equivalent, your daily EFTPOS transaction limit is $15,000 or its equivalent and your daily cash-over-the-counter limit is AUD$350 or equivalent.

How much does the Travelex Money Card cost?

This table illustrates the costs associated with the Travelex Money Card and explains when you'll be charged each fee.

Type of feeCostWhen you'll be charged
Purchase fee
  • When loading in AUD: The greater of 1.1% of the initial load / reload amount or AU$15
  • When loading or reloading in foreign currency: $0
When you are issued with the card at the time of purchase and initially load funds on it
Reload fee
  • BPAY and bank transfer when booked online via Travelex website: $0
  • BPAY when not booked online via Travelex website: 1% of the reload amount
Every time you reload funds on your card after the initial load amount
Additional card fee$5When you request an extra card
Replacement card$0When you need a lost, damaged or stolen card replaced
Currency conversion fee5.95% of transaction valueWhen you purchase or withdraw in a currency that is not supported or sufficiently loaded on your card
International withdrawal fee$0While Travelex won't charge you for international ATM withdrawals, local ATM operator fees may apply
Domestic ATM withdrawal fee2.95% of the amount withdrawnWhen you make an ATM withdrawal in Australia
Over-the-counter cash$0You won't be charged when you obtain cash over the counter
Monthly inactivity fee$4When you have not made any transactions on your card in the previous 12 months
Closure/cash out fee $10When you close your card or withdraw funds from your card funds

How to use the Travelex Money Card

From setting up your card to managing your account, here's everything you need to know:

  • Activating the card. Your card and additional card will be ready for use within two business days of purchase unless otherwise stated. No action on your part is required for further activation.
  • Loading funds on the card. You may load funds onto your card either in-store at a participating Travelex outlet in Australia, online, over the phone or using the Travelex Money app. BPAY or bank transfers booked online via the Travelex website will be subject to prevailing Mastercard Prepaid exchange rates at the time of the transaction. For reloads not booked via the Travelex website, funds will be automatically loaded in your default currency, which is initially AUD. You may change your default currency online via My Account.Each reload must be at least $100 or its equivalent but no more than $100,000 or its equivalent. When reloading by bank transfer or BPAY, your daily limit is AUD$25,000 or its equivalent. Bank transfers generally take one business day to process while BPAY reloads may take two, but payments made after 2pm AEST can take longer.
  • Managing your online account. Head to the Travelex Money Card website and register your card by following the prompts. You will then be able to log into "My Account" where you can view your account balances and previous transactions, transfer funds across different currencies, change your default currency settings and more.

What do I do if I return home with foreign currency remaining on my card?

You may decide to keep the existing currency balances for your next trip or close your card and withdraw any remaining funds through a Travelex store or Mastercard Prepaid. Your remaining funds will be paid out to you in Australian dollars, either in cash or deposited into your nominated bank account. Withdrawal and currency conversion fees will apply where relevant.

Who do I contact if my card is lost, stolen or damaged?

If your card is damaged, lost or stolen, contact Card Services immediately by calling 1800 303 297, or +44 20 3284 8395 when overseas. You may use your back-up card if you have one or request that a replacement card be sent to you. You may also request that emergency cash services are arranged for you in the local currency.

How to apply for a Travelex Money Card

You may buy a Travelex Money Card from any Travelex store or order one online. You will need to provide photo ID for identification purposes.

  • Online. Order your card online via the Travelex website and pick it up from your local Travelex store or at an Australia Post store. For pick-up at Australia Post, a $10 fee applies for orders under $2,000. When paying for your travel money card via BPAY, your purchase is exempt from bank or card fees but can take more than four business days. Paying by debit or credit card can incur surcharges of up to 1% but result in collection as soon as one business day. You must be above 18 to order your card online.
  • In-store. You will be immediately issued an active and ready-to-use travel money card when you purchase your card in-store. There are no age requirements for in-store purchases.
  • Over the phone. Call Mastercard Prepaid on 1800 303 297 for more information or +44 20 3284 8395 if overseas.

Are there any eligibility requirements?

There are no age requirements in a Travelex store but you need to be over 18 when applying online. Non-residents may also apply, as long as you have a valid government-issued photo ID with an Australian address.

The Travelex Money Card is easy to use and enjoys the worldwide acceptance of a Mastercard. It also offers cost savings related to reloads and international ATM withdrawals. However, before choosing a travel card, research and compare other available options to find the one that will best serve your personal travel needs and spending preferences.

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11 Comments

    Default Gravatar
    Tim
    July 24, 2019

    I have used Travelex Money Card in the U.S. Travelex Money Card is basically Cash Passport with a “Travelex” logo printed on it. I have found it be fine to use for small transactions, e.g. purchasing meal at an airport, souvenir at gift shop. However, I have not always found it reliable for instances where your address details have to be transmitted with your CC details through the EFTPOS system. Cash Passport uses what’s called the Address Verification System (A/V.S.) as one means to verify the cardholder. All it does is try to match up the numerical components of the cardholder’s address – as stored in Cash Passport’s records – with the billing address provided to the merchant If the system does not recognize a ‘match’ for whatever reason, then the transaction is declined.

    I used it a number of times pver the past 5 years with a particular motel in the U.S. with success. But then the last time I used it. the card was rejected because of some formatting error with the address. The staff member serving me didn’t seem very knowledgeable (she wasn’t the manager), and suggested I call Cash Passport. They told me it was an address error, and I asked them to detail me exactly how my address was recorded in their system, right down to lettering, full stops, spaces, abbreviations, etc. Then I instructed the merchant to enter my address again exactly as provided to me by CP. Still no joy. The CP consultant advised me that the only other option with the card was to withdraw from an ATM. On this occasion I did so, and had to withdraw a number of times, because ATM’s in that area had a USD $200 limit, and charged for each transaction. I suspect the merchant I was dealing with could have overridden the decline if she knew how (I provided I.D. and verification of my address). Unfortunately the manager was away for a few days.
    I did have another card to try, a debit card, and that did not work either.

    Unfortunately, I did not get much help from Mastercard in trying to understand exactly why the transaction declined. They just told me it was an A.V.S. failure to do with ‘bad address’. Some cursory research suggests to me that A.V.S. is capable of some false positives, and is not reliable with prepaid cards. Furthermore, U.S. and Canadian providers using A.V.S. don’t seem to ‘handshake’ very well with CC’s issued outside of those countries… in terms of verification of address. (I believe Cash Passport is ‘issued’ by Heritage Bank).

    In my case, I suspect the decline was a combination of the merchant’s system and Cash Passport’s AVS.

    Moral of the story? Have a contingency plan. Take a mix of money sources (which I did), e.g. backup card, currency. And find out in advance where your nearest ATM’s are, especially in a small town/city. If you are taking your CC linked to your native home account, make sure you advise your bank of your travel plans before you go (which I did). And preferably use a travel card that doesn’t employ A.V.S., which I am doing now.

    Reply
    Default Gravatar
    Bill
    October 17, 2018

    If I have a Travelex money card with Euro and English pounds loaded, can I use it to touch and go on public transport and taxis overseas? Would there be fees attached?
    Cheers

    Reply
      Avatarfinder Customer Care
      Charisse
      October 18, 2018

      Hi Bill,

      Thanks for reaching out to finder.

      You can use the Travelex money card to make contactless payments as long as the public transports and taxis have Mastercard payment terminal (EFTPOS) that has contactless symbol. If you will be using the card to pay in any currency other than the currency available on your card, a foreign exchange margin applies to the transaction amount.

      You can visit Travelex’ website to see the full information on their rates and fees.

      I hope this helps.

      Cheers,
      Charisse

      Reply
    Default Gravatar
    Robyn
    October 7, 2018

    I need to use a travel card to go OS. However, I am going to Switzerland, Hungary, and Austria – I’m not sure if Austria has euro, but the other 2 don’t. What’s the best way for me to work out my money if cards like Travelex don’t hold currency that I want? I have used Travelex before in USA.

    Thanks 😊

    Reply
      Avatarfinder Customer Care
      May
      October 9, 2018

      Hi Robyn,

      Thanks for your question.

      Apparently, there are no travel money cards that can hold all the currencies of the three countries you’ve mentioned. However, you may want to do deeper research on a practical way of bringing money/cards to those countries. You may need to consider the fees charged for currency conversion and international ATM withdrawals when comparing your options. Furthermore, you may like to check the following guides instead to get an idea of which card you could possibly get and use overseas:

      1. Travel Money Guide to Switzerland
      2. Travel Money Guide to Hungary
      3. Travel Money Guide – General for all other countries.

      Best to check the reviews of your chosen card to make sure that it provides you the benefits considering your travel plans and spending habits.

      I hope this somehow helps.

      Cheers,
      May

      Reply
    Default Gravatar
    Kathy
    August 2, 2018

    I’m trying to sign up for the free wi-if but it says my card is not eligible

    Reply
      Default Gravatar
      Joel
      August 2, 2018

      Hi Kathy,

      Thanks for leaving a question on Finder.

      You are supposed to get free WiFi from Travelex. All you have to do is to load at least $100 on your Travelex Money Card, enter your card details at mastercard.boingo.com, and wait 24 hours for it to be verified. If you can confirm that you have the steps I mentioned, you can contact them directly to ask what could be causing this decline.
      Cheers,

      Joel

      Reply
    Default Gravatar
    Elly
    February 5, 2018

    it says $0 ATM fee’s but $10 cash out fee.
    so does that mean it costs $10 to take money out at a ATM?

    Reply
      Default Gravatar
      Arnold
      February 16, 2018

      Hi Elly,

      Thanks for your inquiry

      The account does not charge you for ATM transactions but please note that other ATMs may have their own charges. The closing/cash out fee you are referring to applies only when you want to close the account and withdraw the remaining balance on the ATM.

      Hope this information helps

      Cheers,
      Arnold

      Reply
    Default Gravatar
    eric
    June 22, 2017

    I have a cash passport prepaid currency card. How can I check any remaining balance and how do I top it up?

    Reply
      Default Gravatar
      Jonathan
      June 22, 2017

      Hi Eric!

      You can top up your card as follows:

      – Online transfer. You can complete an online transfer via the Travelex website, you’ll just need your Cash Passport card number handy.
      – BPAY. You’ll need the BPAY biller code 184416 and the 16 digit Cash Passport number that’s on your card to reload funds with BPAY.
      – In store. You can also load and reload funds in store at participating Travelex outlets.
      – You can load and reload your card online, using your Visa or MasterCard debit or credit card. You can reload the card at anytime using BPAY to transfer money from your bank account. The minimum you can load and reload onto the card is $100 or its equivalent in another currency. The maximum you can load is $100,000.

      For the balance inquiry, you can go to their website and look for “My Account”. Alternative is to inquire your balance through ATM.

      If you need more info, kindly check our Travelex travel money guide.

      Hope this helps.

      Cheers,
      Jonathan

      Reply
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