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Anyone with a Comm Bank Travel Money Card READ THIS - Australia Forum

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Anyone with a Comm Bank Travel Money Card READ THIS

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Just a random advice warning.......

I previously had 2 commonwealth bank travel cards which i used overseas. I’m not the most organised of people, so they ended up in a draw, still loaded with funds, but I could still see these funds on my net bank online account.

Then mysteriously they disappeared from my online back account. I asked a staff member one day in a store, what happened.....oh, they disappear after you don’t use them for a while.

I just wonder how many people have had these, and like me, just forgotten about them.

They managed to trace them and I had the funds transferred into my account.

But please check any travel cards (no matter what bank) Incase you have lost funds out there. I was angry that comm bank would able to make these accounts simply disappear :(

This is only one of many ways that travel cards like this are a rip-off. There are so many better ways to manage money when travelling...

Nath ,This is very good advise. Much like many of these type of services your funds are held in account . Perhaps also check your Super as well.

I hope that you did give some money to the people at CBA for such good service .

Something else with travel cards. My last travel card had such a poor exchange rate that even with big fees for using my CBA keycard I decided it was better to just use the CBA keycard.

To repeat advice I have given many times:

To get cash overseas, open a Citibank Plus bank account, which comes with a Mastercard debit card that has no overseas ATM withdrawal fees and an excellent exchange rate. For larger purchases, get a Latitude 28 or Bankwest Zero Mastercard which have no fees for overseas purchases (in person or over the Internet) and again an excellent exchange rate. ING now offers debit and credit cards that can be used with no foreign transaction fees, but with monthly minimum transaction requirements. All these cards have no account fees.

This topic has been closed to new posts due to inactivity.

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In this guide

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Your reviews, ask a question, commbank travel money card review.

Enjoy the safety and convenience of a CommBank Travel Money Card that lets you load 13 currencies at the same time.

The CommBank Travel Money Card is a prepaid Visa card that lets you load up to 13 foreign currencies and lock in exchange rates. You can manage your account online, save on loading fees and enjoy peace of mind thanks to chip and PIN-protection.

Compare more travel money options on finder now

What currencies can I load on the CommBank Travel Money Card?

The CommBank Travel Money Card supports 13 major currencies including:

• United States dollar
• Great British pound
• Australian dollar
• Japanese yen
• New Zealand dollar
• Hong Kong dollar
• Canadian dollar
• Singapore dollar
• Vietnamese dong
• Chinese renminbi
• Emirati dirham

There are no fees involved when you load funds into a foreign currency wallet, transfer funds between currency wallets on the card, or spend money in a currency that isn't loaded or supported by your card. Instead, a retail foreign exchange rate determined by CommBank is applied at the time of conversion. You can find the foreign exchange rates on the CommBank website or on the CommBank app under "Tools & Calculators" and "Foreign Exchange Toolkit".

Your currencies will be locked in at the bank's retail foreign exchange rate applicable on the day your transfer or payment is processed. When loading or reloading, the money will be available the same day for transfers from CommBank transaction accounts and up to two business days for BPAY transactions.

What if I want to spend money in a different currency to the ones loaded on my card?

When spending money in a currency that is unsupported or insufficiently loaded on your card, the next available currency balance in your currency order will be used. You may customise your currency order through NetBank or by calling +61 1300 660 700. Otherwise, the following default currency order applies.

Default currency order:

To illustrate, when paying for a US$50 lunch in Los Angeles, it turns out that you only have US$21 in your US dollar wallet. Instead of declining the transaction, your card is debited in Euros instead, since you have sufficient Euros in your account. CommBank's prevailing retail foreign exchange rate is applied to convert your Euros into US dollars.

Where can I use my Commonwealth Bank Travel Money Card

The CommBank Travel Money Card enjoys the worldwide acceptance of the Visa network and can be used in-store, at ATMs, online, over the phone and by mail order. However certain merchants and financial institutions may not accept the card, including stores where Visa prepaid cards are not accepted or where merchants process transactions manually.

Features of the CommBank Travel Money Card

When you apply for a CommBank Travel Money Card, you can look forward to the following benefits and features:

• Locked-in exchange rates. When you load funds on your card, they'll be locked in at the exchange rate you got when you loaded your card. This will give you peace of mind and help you manage your budget since you don't have to deal with fluctuating exchange rates. Foreign exchange rates are available on the CommBank website or in the CommBank app by following "Tools & calculators" to the "Foreign Exchange Toolkit".
• Additional card. Your free backup card ensures that you'll still be able to access your money should the first card be lost, damaged or stolen.
• Smartphone app. Enjoy the modern convenience of currency planning from your smartphone with the CommBank app. Monitor your expenses, convert currencies and reload funds while on the go.
• Worldwide ATM alliance. The robust Visa alliance ensures that you will be able to access cash almost anywhere in the world.
• Concierge service. Enjoy the luxury of personal concierge services when you need dinner reservations, air tickets, accommodation or concert tickets booked for you.
• Purchase security insurance. If an item purchased on your card gets lost, stolen or damaged in the first 90 days, your card insurance coverage ensures that it will be repaired or replaced for free.

How much does the CommBank Travel Money Card cost?

This table lists the costs associated with this card and when you'll be charged them.

How to use the CommBank Travel Money Card

Follow these simple steps to start using your CommBank Travel Money Card:

• Activating the card. For cards purchased in-branch, your two cards have already been automatically activated. For cards purchased online via NetBank, including replacement or reissued cards, you will need to activate your cards online. In any case, you should set up a PIN for each card by logging in to NetBank, going to a CommBank branch or calling the Travel Money Customer Service Centre at 1300 660 700, or +61 2 9374 0609 from overseas.
• Loading funds on the card. Different currencies can be loaded on your card at the time of purchase, which will be subject to the bank's foreign exchange rates at that time. When reloading the card, funds will be accepted in Australian dollars and converted into your primary currency according to your currency order. The applicable exchange rate is taken on the day your payment is processed, which is instant when paying cash in-branch or transferring funds via NetBank from a CommBank transaction account and up to two business days when using BPAY.When reloading via BPAY, you may only load one currency at a time. You will need to wait for your first BPAY transaction to be completed before changing your currency order and making another transfer to that primary currency. Each load and reload must be more than the equivalent of AUD$1 and less than AUD$100,000.
• Managing your online account. You can manage your account online at NetBank or on your smartphone's CommBank app. You can view your balances and transaction history, transfer currencies within the account, reload funds, and make real-time fund transfers to and from eligible CommBank accounts. You can also change your PIN and currency order, set up SMS alerts and lock or unlock your card for security reasons when necessary.

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

Who do i contact if my card is lost, stolen or damaged.

Report loss or theft immediately by calling 1300 660 700 or +61 2 9374 0609 when overseas. Similarly, if you suspect your card has been subject to unauthorised use, notify the bank immediately by calling 13 22 21 or +61 2 9374 0609 when overseas.

How to apply for a CommBank Travel Money Card

For existing CommBank customers with NetBank accounts, ordering is a simple online process which involves logging into NetBank. Your card will then arrive in the mail in under six business days. If you are not an existing CommBank customer, you may get your card straight away by heading into any CommBank branch. Bring your Australian passport or driver's licence for identification purposes.

Are there any eligibility requirements?

While you do not need to be an existing Commonwealth bank customer, you must be more than 14 years old and satisfy customer identification requirements. You will have to register with NetBank when purchasing the card. Also, you are limited to only having five active Travel Money Cards at any one time.

The CommBank Travel Money Card offers up to 13 major currencies and fee-free loads and reloads. Make sure to factor the card issue, replacement fees and ATM withdrawal fees when comparing your options. When deciding which travel card to get, use our travel money comparison table to compare your available options and find the right card for your spending needs.

• CommBank Travel Money Card information PDF
• CommBank Travel Money Card TMD

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February 26, 2024

When useing my travel card is it credit i push to withdraw cash from it at the atm ? Thanks

Elizabeth Barry Finder

April 05, 2024

You should select “Credit” when using this card.

I hope this helps,

December 02, 2019

Can I use this card for everyday purchases within australia, and will there be a fee if I do so?

Nikki Angco

December 04, 2019

Thanks for your comment and I hope you are doing well. You can use the travel money card in Australia. The card can be used everywhere Mastercard is accepted. There can be a fee if you are paying in a currency not loaded onto your card so be sure to nominate AUD as your preferred currency when making purchases and do cash withdrawals at CommBank ATMs.

Hope this helps and feel free to reach out to us again for further assistance.

Best, Nikki

October 21, 2019

I’m in USA. I’m drawing cash from ATM. Do I draw it as Credit or Savings?

October 24, 2019

Hi Marlene,

Thanks for reaching out to Finder. When using the Commonwealth Bank Travel Money Card review, you would select the credit option. As added information, the maximum value of purchases per day is AUD 7,500 or its foreign currency equivalent. The maximum amount you can withdraw from ATMs per day is AUD 2,500 or its foreign currency equivalent. However, most ATM operators have a limit on how much you can withdraw from an ATM per transaction which may be less than the Commonwealth Bank’s maximum. You may want to check out that specific information before withdrawing.

Hope this helps and feel free to write back, we’re here to help.

Cheers, Nikki

September 16, 2019

Do I get charged the 5.25% fee if I am changing currency with in my card eg: US$ to AUD $

September 18, 2019

Hello Connie,

Thanks for getting in touch! As mentioned on our page above, there is no fee when you are transferring between currency wallets on the card, Instead, a retail foreign exchange rate determined by CommBank is applied at the time of conversion. You can find the foreign exchange rates on the CommBank website or on the CommBank app under “Tools & Calculators” and “Foreign Exchange Toolkit”.

Hope this helps!

September 10, 2019

With my CBC travelcard is there any withdrawal fee to withdraw Aus dollars while in Australia (currency on card is Aus dollars)

September 11, 2019

Thanks for getting in touch! The Commonwealth Bank Travelcard doesn’t have any withdrawal charge at any Commonwealth Bank or BankWest ATM in Australia when you withdraw in Australian dollars. Hope this helps and feel free to reach out to us again for further assistance.

The Finder team is dedicated to helping you start making better financial decisions right now. See full profile

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Commonwealth Travel Card Review – [2023]

The Commonwealth Travel Money Card is a prepaid Visa debit card you can top up in 13 different currencies, for global spending and ATM withdrawals. That can be handy for managing your budget when you’re overseas, as you can lock in exchange rates in advance so you know exactly what you have to spend.

This guide covers the Commonwealth travel card in detail, including how the card works and the fees that you’ll pay to use it. We’ll also touch on a couple of Commonwealth travel card alternatives from Wise and Revolut , which support more currencies and may come with lower fees.

Commonwealth travel card: key features

The Commonwealth Travel Money Card has a good selection of supported currencies, and is globally accepted wherever you see the Visa logo. However, there are currency conversion fees to pay when you use the card to spend unsupported currencies, or when you don’t have enough balance to cover the cost of your purchase in a particular currency. Plus, you’ll pay an ATM fee at home and abroad.

This guide walks through the Commonwealth Travel Money Card in detail – to kick off, here’s a quick look at the key pros and cons of using the card on your travels.

Travel money cards can be handy when you’re away. They let you convert funds to the currency you need in advance, so you know your budget before you leave – plus, they’re not linked to your normal bank account which can increase security and offer peace of mind when you travel. However, the features and fees you find in travel money cards from different banks and providers can vary pretty widely. Shopping around is essential to make sure you get the best deal for your specific needs – this guide should tell you all you’ll need to know to help you pick.

Who is the Commonwealth travel card for?

The Commonwealth travel card supports 13 currencies including those used in popular holiday destinations like Thailand, Japan, Vietnam and New Zealand, plus major global currencies like US dollars, euros and British pounds. That can mean it’s a handy card to have for people travelling for business or pleasure, or for anyone shopping online with overseas retailers.

What is the Commonwealth travel card?

The Commonwealth Travel Money Card is a Visa debit card you can load in advance in AUD or any of the other supported currencies, for international spending and withdrawals. You can use your Commonwealth travel card when you travel, and also for online shopping in foreign currencies.

Is the Commonwealth Travel Money Card a multi-currency card?

Yes. You can add AUD to your Commonwealth card, and convert to any of the following supported foreign currencies:

• United States dollars (USD)
• Euros (EUR)
• Great British pounds (GBP)
• Japanese yen (JPY)
• New Zealand dollars (NZD)
• Hong Kong dollars (HKD)
• Canadian dollars (CAD)
• Singapore dollars (SGD)
• Thai baht (THB)
• Vietnamese dong (VND)
• Chinese renminbi (CNY)
• Emirati dirham (AED)

There is a fee – in the form of an exchange rate markup – added when you switch to the currency you need from AUD. However, it’s then usually free to spend the currencies you hold in your account.

If you’re looking for different currencies – or you’re planning on travelling more widely – you can also consider a travel card from a specialist service like Wise or Revolut. Wise supports 50+ currencies, while Revolut covers 25+ – more on that, including some other important features of Wise and Revolut, next.

Alternatives to Commonwealth travel card

The Commonwealth travel card has some handy features, but there are also some fees you’ll need to think about before you order one. One important cost is rolled into the price of switching from one currency to another. There’s a markup added to the exchange rate used when you initially switch from AUD to the currency you need, and if you use your card to spend an unsupported currency, or if you run low on the currency you need while you’re away, extra fees of 3% kick in too.

To weigh up whether the Commonwealth card is best for you, take a look at our comparison against alternative providers Wise and Revolut:

Information taken from CommBank Travel Money Card desktop site and Fees , Wise pricing page , Revolut international transfer fees and Revolut Australia ; correct at time of writing, 24th May 2023

As you can see, Wise and Revolut both support a broader selection of currencies compared to the Commbank card, which can be helpful if you’re travelling more widely. Plus, you may find you get lower overall currency conversion costs with a specialist service. Revolut has some fee free currency conversion which uses the mid-market rate for all account holders – even if you’re using a standard account plan with no monthly fees. And Wise has mid-market rates for all currency exchange, with low fees based on the currencies you need, starting at 0.41%.

There’s a quick introduction to Wise and Revolut next, to help you decide if either may suit your needs.

Read a full Wise review here

Wise accounts can hold and exchange 50+ currencies, and come with an optional linked Wise card to spend with the mid-market rate and low fees from 0.41%, in 170+ countries. You can apply, and manage your account, from your smartphone, and get extra perks like fast payments to 70+ countries, and local bank details for 9 currencies, to get paid easily from 30+ countries.

Get a Wise travel card

Revolut accounts come with linked debit cards, and can hold 25+ currencies. You can either get a standard plan which has no monthly fees, or pay a monthly charge to access extra features and perks. Revolut currency exchange uses the mid-market exchange rate to plan limits, with fair usage fees after that. Out of hours fees may also apply if you switch currencies when the global markets are shut.

Go to Revolut

Commonwealth travel card fees & spending limits

Let’s take a look at the fees and limits that apply to the Commbank travel card. First, here are some important limits to know in advance:

And what about the charges involved with using a Commonwealth Bank Travel Money Card? Here’s a rundown of the key costs:

Information correct at time of writing – 24th May 2023

Exchange rates

When you top up your card in AUD and convert to a foreign currency for overseas spending, the Commbank retail exchange rate applies. This rate can be found online, but it’s handy to know it won’t be the same as the mid-market rate you find using a Google search or currency conversion tool, as it includes a margin – which is a fee. The margin used by Commonwealth Bank can vary depending on the currencies in question, so you’ll need to take a look on their website to see the rate for your currency pair, and then compare it back to the rate you get from a conversion tool, to spot the margin that’s been added.

If you’re spending a currency you don’t hold in your account, the exchange rate applied is set by Visa, and there’s then an extra 3% fee to pay. That doesn’t sound like a lot, but it can mount up quickly if you’re travelling for a while.

As an alternative, you might want to check out prepaid international debit cards which offer the mid-market exchange rate – like those from Wise and Revolut.

How to get Commonwealth travel card

You can order a Commonwealth Travel Money Card if you fulfil the eligibility criteria:

• You must be at least 14 years old
• You must be a Commonwealth Bank customer, registered to use NetBank
• You’ll need an Australian residential address

Assuming you fit these criteria you can order in a Commonwealth Bank branch, or online. Once you have your card in your hands, you then need to activate it in NetBank or the Commbank app. You can also set a PIN for security.

What documents you’ll need

To open a Commonwealth Travel Money Card account you’ll need to be registered with NetBank. That means you’ll also need a valid Commbank account and card to get started. If you already have a Commonwealth Bank account you can open your travel card account with no new documents – just log into NetBank or visit a branch to get started.

If you don’t have a Commbank account yet, the process is a bit more involved as you’ll have to first select and open a bank account. This normally means you also need to provide proof of ID and address, which you can upload online or show in a branch.

What happens when the card expires?

The Commonwealth Travel money Card is valid for 4 years. Once it expires it’s not automatically replaced with a new card. You’ll need to request a new card in NetBank. If you don’t do this within 3 months of the card expiry date, you’ll lose access to your account – so make sure you open a new card in time, or remove any remaining funds from the account to avoid extra hassle.

How to use a Commonwealth travel card?

The Commonwealth travel card is a Visa debit card you can use online and in person for spending and withdrawals. You can also send money from the card account to other Commbank cards and accounts, although fees may apply for this service if you’re switching currencies as part of the transfer.

How to withdraw cash with a Commonwealth travel card?

Once you have funds on your Commbank card you can make withdrawals around the world, just as you would with your regular debit card. There’s a Commonwealth ATM limit of 2,500 AUD per day – although most ATMs have their own limits which are likely to be lower than this. You’ll also pay a fee of 3.5 AUD or the currency equivalent when you make a cash withdrawal, plus any applicable currency conversion fee if you’re withdrawing in a currency you don’t hold in your account.

Is the card safe?

Yes. Commonwealth Bank is a trusted and regulated bank, making it a safe provider to use. Plus, using a prepaid travel card when you’re abroad can be safer than using your normal card. As it’s not linked to your main day to day account, even if you’re unlucky enough to have your travel card stolen, thieves don’t have access to your primary account balance.

How to use the Commonwealth travel card overseas?

The Commbank travel card is issued on the Visa network, which means you can use it in millions of ATMs and with merchants worldwide. If you’ve got a balance in the currency you need, there’s no extra fee for paying at a merchant abroad. However, it’s useful to know that a 3% fee applies if you spend in a currency you don’t hold in your account, or if the balance you have in that currency isn’t enough to cover the purchase. This can push up costs significantly, so it’s worth keeping an eye on your balance in the Commbank app, so you don’t run low without realising.

Conclusion: is the Commonwealth travel card worth it?

The Commonwealth Travel Money Card is a helpful card for travel to any of the countries and regions covered by the 13 supported currencies. Using a prepaid card can help you set your travel budget in advance as you’ve locked in exchange rates before you leave. However, the Commbank card isn’t free to use. There’s a fee to switch currencies – either a 3% conversion cost for direct spending, or a margin added to the exchange rate when you convert within your account. Plus, there’s a 3.5 AUD fee for ATM withdrawals overseas.

Compare the costs and flexibility of the Commbank travel card against alternatives like the international debit cards from Wise and Revolut. Both offer a broader selection of currencies, and use the mid-market exchange rate to switch over your funds from AUD to the currency you need. This can cut the costs overall, and it’s more transparent as you can easily see all the fees involved in currency exchange.

Commonwealth travel card review FAQ

How does the Commonwealth travel card work?

The Commonwealth Travel Money Card is a prepaid international Visa card you can use for spending and withdrawals around the world. You’ll need to add money in AUD and can then convert to any of the 13 supported currencies within NetBank.

Is the Commonwealth travel card an international card?

Yes. The Commonwealth Travel Money Card can hold 13 different currencies, and as it’s issued on the Visa network you can use it more or less anywhere in the world. There’s a 3% fee to spend currencies you don’t hold in your account though – so if your currency isn’t supported by the Commbank card you might be better off with an alternative like the multi-currency cards from Wise and Revolut.

Are there any alternatives to the Commonwealth travel card?

Commonwealth Travel Money Card alternatives are available from banks and specialist digital providers. Compare the options from Wise and revolut as an example – both offer dozens of supported currencies, with low, transparent fees and great global acceptance.

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What Is A Travel Money Card?

How does a travel money card work?

How many currencies can you load at once, other features to compare, how to get a travel money card, when is a travel money card worth it, alternative options.

A travel money card, also called a prepaid travel card, is a type of card that can hold foreign currencies. It’s intended for overseas travel, and you can use one to withdraw foreign cash from ATMs and to make purchases in a local currency. 

Think of a travel money card as a debit card that uses local currency. Before you use a travel money card, you’ll preload a set amount of a specific international currency onto the card at the day’s exchange rate. For example, if you’re travelling to Italy and France for two weeks, you’d load Euros (€‎) onto the card and use it instead of your regular debit or credit card during your trip. 

You can continue reloading money onto the card via an app or website as you spend your funds. So, if you blow through your Euros in Rome, you can top off your card’s balance before arriving in Paris. 

Understanding the value of your exchange

The value you exchange currency for will depend on when you load your funds. Rates change from day to day, but you’ll lock in the rate used at the time you exchange currency. So, you’ll know the exact worth of the foreign currency in Australian dollars every time you use your preloaded card. 

On the one hand, a locked-in rate protects you from volatile currencies with fluctuating values. However, if the rate drops, you could be stuck with devalued foreign funds. So, while you can’t predict the future, try to coordinate the load when the exchange rate is most valuable — even if that means waiting a few days. 

The number of foreign currencies available will depend on the company providing the card, but you’ll generally find a wide variety of options. Even if dozens of currencies are available, there are typically limits to the number someone can load onto a travel money card. These limits vary by card, but these cards generally only allow for about a dozen currencies at once.

For example, here are common travel money cards and the number of currencies they can support simultaneously:

• Australia Post Travel Platinum Mastercard: up to 11 currencies
• Cash Passport Platinum Mastercard (issued by Heritage Bank): load up to 11 currencies
• CommBank Travel Money Card: up to 13 currencies
• Qantas Travel Money Card: up to 10 currencies
• Travelex Money Card: up to 10 currencies
• Travel Money Oz Currency Pass Travel Money Card: up to 10 currencies
• Westpac Worldwide Wallet: up to 10 currencies. 

The number of currencies available and the ability to load multiple currencies onto one card have obvious advantages: it helps you save on fees and makes it easier to manage your money while travelling overseas .

However, there are other key features to compare when choosing a travel money card.

Another thing to look for is reduced or waived fees for loading or reloading funds, account keeping, account closing and emergency card replacements.

Be sure to check for any potential fees when accessing leftover foreign funds you didn’t use on your trip, as there may be an unloading fee or an extra charge to withdraw funds and close your account. For example, Travelex charges a $4 monthly inactivity fee when the card hasn’t been used for more than 12 months. 

Top-up options

How easy it is to use a financial product is typically important, but simplicity and convenience may feel more essential when you’re on holiday. In that case, options to quickly load or reload funds and notifications when your balance is low can be very helpful. Some cards may allow you to top up your balance immediately and with little cost. With others, you may have to wait a few days and pay a small fee.

Top-up methods also vary. For example, you can use BPAY with certain cards, but not all. Some cards may require you to use a specific app or portal. If convenience and flexible top-up options are important to you, compare options accordingly.

Perks and benefits

Travel perks, such as airport lounge access or the ability to earn rewards, are also great features to look for. Digital wallet compatibility, allowing you to use a virtual version of your card, can also be helpful.

Security and customer service

Security features are also important. Look for a card with a PIN to use at ATMs and the ability to lock the card instantly if lost or stolen.

And, since you’re travelling overseas, 24/7 customer support is essential to ensure you have access to help when you need it.

To get a travel money card , you can go through your bank, an airline, a foreign exchange retailer or a payment merchant.

Prepaid travel card eligibility is comparable to the requirements for a debit card. For example, CommBank requests that cardholders are at least age 14, are registered with NetBank, and provide a valid email and residential address. 

You can apply directly on the provider’s website once you choose your favourite prepaid travel money card. Make sure to submit your application at least a few weeks before your trip in case of delays. 

» MORE: How old do you have to get a credit card?

Activating the card

Once you receive the card: 

• download the provider’s app and familiarise yourself with how it works
• register your account
• activate the card
• convert your money to the chosen currency. You might want to start with a smaller amount for the first part of your trip and reload while overseas or make one big transfer. 

While overseas, you’ll likely alternate between paying in local cash and pulling out your travel card. Your goal is to find the best travel card that allows you to pay for items with minimal fees and maximum protections flexibly. 

Possible advantages

• Provides access to multiple currencies. Most options allow you to convert Australian dollars into several different currencies simultaneously. That means you can have secure access to a handful of foreign funds during your next multi-country adventure. 
• Saves on ATM fees. Credit card holders won’t usually be charged the standard 3% foreign transaction fee or pay extra for in-network ATM withdrawals, loading, and topping up their cards. However, these are just generalisations — each credit card company or bank will have its own fee structure.
• Exchange rates are locked. You’ll pay for the local currency using the exchange rate available when you load funds, which locks in the rate. Having dependable value for your funds goes a long way for peace of mind, especially when travelling. 
• Fewer risks when lost. Losing a prepaid card while travelling is undoubtedly a hassle. However, a lost or stolen credit card can mean more risks, like thieves potentially accessing your personal banking details and account funds. Since a lost travel money card is unlikely to result in identity theft and fraud , some travellers find it a safer choice while abroad.
• Helps with budgeting. Trying to keep to preloaded funds may help you stick to a budget while on vacation. Plus, you see the value of money in the local currency, which can help you manage your finances while travelling. 
• May come with rewards and perks. Some travel money cards earn frequent flyer points or come with other special travel perks, like overseas customer service. For example, the Qantas Travel Money Card earns Qantas points, and the Westpac Worldwide Wallet prepaid travel money card offers airport lounge access to the cardholder and one companion access when a flight is delayed. 

Potential risks

• There are delays when reloading. If you need to top up your balance, you may need to wait up to a few days before funds are available to use. 
• Other fees. Some travel money cards may levy typical credit card fees for reloading funds, emergency card replacement, account maintenance, closures, inactivity and more. For example, Travelex and the Australia Post Travel Platinum Mastercard charge a $10 account closing fee.
• Limited acceptance. Travel money cards are less common than other payment options, so you may need help using one for all purchases. So, it’s always a good idea to carry emergency cash. 
• Typically lack rewards or major perks. Travel money cards may come with some, but these extras are usually less robust than the offerings on rewards credit cards . 

The right travel money card supports a stress-free trip, but you don’t have to use one when travelling overseas — your bank card or credit card could also be a suitable option. 

If you’re deciding between a travel money card and a travel credit card , it’s important to understand the differences in how they work. 

• Travel money cards are preloaded with foreign currencies, while travel credit cards spend borrowed money. Travel money cards are generally easier to obtain as they don’t require good credit or income thresholds. With a travel money card, you can withdraw funds from an ATM without incurring interest or cash advance fees . 
• Travel credit cards don’t usually hold foreign currency but offer perks such as international buyer protections, free insurance , airport lounge access and frequent flyer travel points . 

Be sure to consider other important features — such as security, reduced fees and travel perks — to decide if a travel money card is worth it for you. 

Frequently asked questions about travel money cards  

The available currencies will depend on the card, but you’ll generally find the following options: 

• United States Dollars (USD)
• Europe Euros (EUR)
• Great British Pounds (GBP)
• Japanese Yen (JPY)
• New Zealand Dollars (NZD)
• Hong Kong Dollars (HKD)
• Canadian Dollars (CAD)
• Singapore Dollars (SGD)
• Thai Baht (THB)
• Vietnamese Dong (VND)
• Chinese Renminbi (CNY)
• Emirati Dirham (AED).

Most Australian banks — including Westpac, CommBank, ANZ and NAB — have some sort of travel product, whether that’s a travel money card, a travel-friendly debit card or a travel credit card. However, ANZ and NAB no longer offer prepaid travel money cards.

About the Author

Amanda Smith is a freelance reporter, journalist, and cultural commentator. She covers culture + society, travel, LGBTQ+, human interest, and business. Amanda has written stories about planning for retirement for…

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