Travel Money Cards have recently become the preferred means of carrying money by travellers all over the world. The technology has made carrying money electronically extremely easy, safe and convenient.
Australians have many choices when it comes to purchasing a Travel Money Card with each bank or institution offering different terms, conditions, fees and charges. It is, therefore, important that Australians compare and review travel money cards available on the market.
We have done this work for you by comparing Eight of the Best Travel Money Cards available in Australia. The two tables below give a clear summary of the different cards available and show how you can save on fees and charges.
Travel Money Card – Table 1
TRAVEL CARDS/ INFORMATION | Westpac Global Currency Card
| ANZ Bank Travel Card
| Load & Go (Australia Post)
| Cash Passport
|
FEES,CHARGES , & CONVERSION RATES | -Reload fee is $10-Conversion rate is 3%-No initial card fee and monthly inactive fee.-No secondary fee | -No cap on reload fee-Conversation rate is 3%-Initial card fee is $11-No monthly inactive fee-No secondary fee | -No reload fee-conversation rate is 3%-No initial card fee-No monthly inactive fee-No secondary fee | -No reload fee-Conversation rates change from time to time-Charges on ATMwithdrawal is 2.95%-Monthly inactive fee is AU$4 |
CURRENCIES AVAILABLE | -Multiple currency-Max currencies loadable in the card at a point is 5-Australian dollar, SA Rand, US dollar, Euros, British pounds, Canadian dollar, Singapore dollar, Hong Kong dollar, Japanese yen, Thai Bhatt, New Zealand dollar | -Multi currency-Max currencies loadable at a point is 10-Australian dollar, US dollar, Euros, British pounds, Canadian Dollar, Singapore dollar, Hong Kong dollar, Japanese yen, Thai Bhatt, New Zealand dollar | -Multiple currency-Max currencies loadable at a point is 5-Australian dollar, Euros, US dollar, British pound, New Zealand dollar. | -multiple currency-Max currencies loadable at a point is 10-USD, THB,CAD,HKD,JPY,SGD , and AUD-Single currency card |
LIMITS | -maximum ATM withdrawal within 24 hrs. is $2000-Min amount loaded is $100-Max amount of transactions within 24hrs is $8000-Max daily bill pay reload is $6000 | -Max ATM withdrawals within 24 hrs. is $2500-Min amount loaded is $200-Max amount of transactions within 24hrs is $5000-Max daily bill pay reloaded is $9000 | -Max ATM withdrawals within 24hrs is $2500-Min amount loaded is $100-No max amount of transactions within 24hrs-No max daily bill pay reloaded | -Max ATM withdrawals within 24hrs is AUS$3000-Min amount loaded is AU$ 100-Max amount of transaction within 24hrs is AU$15000-Max daily bill pay reloaded is AU$ 25,000-Limit of Cash over the counter is AU$350 |
CHANNEL OF DISTRIBUTION | -can be purchased online-can be purchased in a branch | -Can be purchased online-Can be purchased in a branch | -Can only be purchased in a branch | – Can be purchased online |
SECURITY INFORMATION | -No bank account linkage-chip and pin protection-ability to lock card-ability to change pin | – No bank account linkage– chip and pin protection-Ability to lock card-Ability to change pin | -No bank account linkage-Ability to lock card-Ability to change pin | – Bank account linkage-Ability to lock card-Ability to change pin |
ACCESS CHANNELS | -Online purchase-ATM use | -Online purchase-ATM Use | -Online purchase-ATM Use | -Online purchase-ATM Use-Over the counter use |
TERMS AND CONDITIONS | -Emergency assistance globally and card replacement 24/7-Lock in exchange rate before travel-Funds in different currencies | -Emergency assistance globally and card replacement 24/7-Lock in exchange-Funds in deferent currencies | -Emergency card replacement-Lock in exchange-Funds in different currencies | -Lock in exchange-Emergency assistance globally and card replacement 24/7-Funds in different currencies |
RELOAD | -Same day card reloading-Emergency fund transfer | – Same day card reloading | -No same day card reloading | -25% load bonus-Same day reloading-Emergency fund transfer |
MOBILE & PHONE | -Available Apps-Change of pin through mobile-24 hrs. customer service | -24 hrs. customer service.-SMS alerts | -Available Apps-SMS Alerts | -24 hrs. customer service |
ACCOUNT FACILITY | -Online account access-Online change of pin-Funds allocated online | -Online account access-Online change of pins-Online allocation of funds | -Online account access-Online allocation of funds | -Online account access-Online change of pin-Online allocation of funds |
Travel Money Card – Table 2
TRAVEL CARDS/INFORMATION | Commonwealth Travel Money Card
| Virgin Velocity Global Wallet
| NAB Travel Money Card
| Qantas Cash MasterCard
|
FEES, CHARGES , & CONVERSION RATES | -Initial card fee is $15-No monthly inactive fee-No currency conversion fee-No secondary card fee-No reload fee | -No initial card fee-Monthly inactive fee is $1-Emergency cash transfer fee is $ 15-Currency exchange rate is 3%-No reload fee | – No initial card fee-No cap on reload fee-No secondary card fee-Monthly inactive fee is $4-Currency conversion rate is 4% | – No initial card fee-No monthly inactive fee-No currency conversion fee-No reload fee |
CURRENCIES AVAILABLE | -Multiple currency-Max no of currency loaded at a point is 13-Single currency card-USD, Euros, New Zealand dollars, SA Rand, AUSD, Japanese yen, Chinese Renminbi, Vietnamese Dong, Emirati Dirham, Thai Baht, SD, HKD, CAD, British pound. | – Multiple currency-Max no of currency loaded at a point is 11-Euro, AUSD, CAD, Japanese Yen, USD, Thai Baht, SA Rand, Sterling pound, Singapore dollar, New Zealand dollar, HKD | -Multiple currency-Single currency-Max no. of currency loaded at a point is 10-USD,CAD, Euros, Thai Baht, Singapore dollar, New Zealand dollar, British pound, HKD, Japanese yen | -Multiple currency-Single currencyMax no of currency loaded at a point is 11-USD, CAD, Euros, Thai Baht, Singapore dollar, New Zealand dollar, British pound, HKD, Japanese Yen, Emirati Dirham |
LIMITS | -Min amount loadable $1-Max ATM withdrawal is $2,500-Max transaction amount is $7,500-Max bill pay reload is $100,000 | -Max ATM withdrawal is $2500-Min loadable fee is $100 | -Min amount loadable is $50-Max ATM withdrawal is $3000-max transaction value is $7000-max bill pay reload is $25,000 | Min. amount loadable is $1-Max ATM withdrawal is $3000-Max transaction amount is $15,000-Max bill pay reload is $ 20.000 |
CHANNEL OF DISTRIBUTION | -Can be purchased online-Can be purchased in a branch | -Can be purchased online-Can be purchase | -Can be purchased in a branch | -Can be purchased online |
SECURITY INFORMATION | -Chip and Pin protection-No bank account linkage-Ability to lock card-Ability to change pin | -No bank account linkage-Ability to lock card-Ability to change pin | -Chip and pin protection-No bank account linkage-Ability to lock card | -Chip and pin protection-No bank account linkage-Ability to lock card |
ACCESS CHANNELS | -Online purchase-ATM use | -Online purchase-ATM use | -Online purchase-ATM use | -Online purchase-ATM use |
TERMS AND CONDITIONS | -Lock in exchange-Different currencies-Emergency assistance and card replacement 24/7-Emergency fund transfer | -Lock in exchange-Different currencies-Emergency assistance and card replacement 24/7-Emergency fund transfer | -Lock in exchange-Different currencies-Emergencies assistance and replacement 24/7-Emergency fund transfer | -Lock in exchange-Different currencies-Emergency assistance and replacement 24/7-Emergency fund transfer |
RELOAD | -Same day reload | -Same day reload | -No same day reload | |
MOBILE & PHONE | -24hr Customer service-SMS alert | -24 hrs. customer service | -Available app-24HR Customer service | -Available app-24hr customer service |
ACCOUNT FACILITY | -Online account access-Online change of pin-Online access to funds | -Online account access-Online access of funds | -Online account access-Online change pin-Online access of funds | -Online account access-Online change of pin-Online access of funds |
Westpac global Currency Card – It charges $10 for reloading card and its conversation rates stands at 3%. One can load five different currencies at ago and the maximum ATM withdrawal is $2,500.
Global Wallet (Velocity Frequent Flyer) – It does not charge any fee for purchasing initial card but charges monthly inactive fee of $1 after 12 dormant months. It also charges $15 for emergency transfer and the conversation rate is 3%.
ANZ Travel Card– The fee for acquiring initial card is $11 and the conversation rate is 3%. There is no monthly inactive fee and maximum number currencies loaded at ago are 10.
Load & Go (AUSTRALIA POST) – The conversation rate is at 3% and maximum currencies loaded at a point are 5. It does not charge fee for acquiring initial card.
Cash Passport – Monthly inactive fee of $4.00. There is 25% load balance and 24 hours customer service.
Nab Travel Card – Conversation rate is 4% and no charge for acquiring initial card. One can change pin and access funds online.
Commonwealth Bank Travel Money Card – Fee for acquiring initial is $15 and the number of currencies available is 13. There is same day reloading and 24 hours customer service.
Cash MasterCard (Qantas Cash) – There is no linkage with bank account and one can lock the card in case of lose. There is 24 hours customer service and online account access.
Please Share your tips, tricks and stories regarding Travel Money Cards in the comments section so that others can benefit on their travels!
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