How to compare travel money cards

Information verified correct on September 26th, 2016
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Learn more about how to compare travel money cards.

When you are travelling overseas travel money is an important consideration to ensure you have access to your funds for the lowest fees possible. When performing your comparison it’s important to consider both the features of a travel money card, as well as the fees and costs associated with setting it up and using it whilst travelling.

What are the key factors to consider when comparing travel money cards?

Features

  • Available currencies
  • Whether or not you can have multiple currencies on one card
  • Maximum load amount

Fees

  • Initial Load Fee
  • Reload Fee
  • Monthly Inactivity Fees
  • Transaction fee for purchases
  • Overseas ATM Withdrawal fees
  • Reload Fees
  • Foreign Currency Conversion Fees

What are the pros and cons of using Travel Money Cards?

Advantages of Travel Money Cards

  • Lock in an exchange rate
  • Safe option if ever stolen
  • Not connected to a bank account (no line of credit)

Disadvantages of Travel Money Cards

  • flexibility / accessibility
  • difficulties
  • delay in loading funds on them
  • high fees for reloading

Travel money card comparison

Rates last updated September 26th, 2016
Available Currencies ATM Withdrawal Fee Reload Fee Initial Load Fee
ANZ Travel Card
ANZ Travel Card
AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD, AUD 3.50, CAD 3.00, EUR 2.20, GBP 2.00, HKD 20.00, JPY 260, NZD 4.50, SGD 4.00, THB 95, USD 2.50 1.1% of the value purchased $0 Go to site More
Flight Centre Key to the World Currency Card
Flight Centre Key to the World Currency Card
AUD, USD, SGD, NZD, JPY, THB, GBP, EUR, HKD, CAD 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 1.1% of the total amount $0 Go to site More
NAB Traveller Card
NAB Traveller Card
AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD $0 per withdrawal on international ATMs and $3.75 per withdrawal at any Australian ATMs $0 $0 Go to site More
Rates last updated September 26th, 2016
Currency Conversion Fee Monthly Inactivity Fee Multiple Currencies on One Card Maximum Load Amount
ANZ Travel Card
ANZ Travel Card
3% $3 Yes $80,000 Go to site More
Flight Centre Key to the World Currency Card
Flight Centre Key to the World Currency Card
5.95% $0 No $10,000 Go to site More
NAB Traveller Card
NAB Traveller Card
4% $0 Yes $45,000 Go to site More

The ANZ Travel Card

ANZ is a popular name in the financial industry in Australia. The ANZ travel card enables you to load up to six different currencies onto the card. You can then access your money no matter where you are. You can apply for a US Dollar, Euros, Great British Pounds, Canadian Dollars, New Zealand Dollars, and Hong Kong Dollars card. It is a Visa card and it can be used in more than 24 million places worldwide.

When you use the card abroad, you will not be charged a fee when buying in store. However, it is worth noting that there may be other fees involved, especially if you withdraw the money from an ATM.

A great advantage to this card is that you are supplied with a backup card too. Therefore, if you lose the first card, you will still have access to your money with the other one. Both will have a separate pin number too which is good news if your first one gets stolen. You will not be left stranded in a foreign country without any money. That is definitely an advantage!

When you reload the card, you will receive a 1.1% AUD fee. You will also be charged for making withdrawals through an ATM machine. The amount will depend upon the currency that you are using. If you do not use the card for more than 12 months then there will be an inactivity fee too.

The Commonwealth Bank Travel Money Card

The Commonwealth Bank travel money card is a MasterCard. It allows you to load up to $25,000 Australian Dollars onto the card. You can choose to include six different currencies on the card. These are Japanese Yen, Singapore Dollars, United States Dollars, New Zealand Dollars, Euros, and Great British Pound Dollars.

When you buy something, the right currency will automatically be used if it is available. If you haven’t uploaded that type of currency then the next available one will be used instead. The card can be used in more than 30 million locations worldwide.

One benefit to this type of card is that you lock in the exchange rate when you buy the card. Therefore, you won’t have to worry if the exchange rate changes while you are travelling. It charges a fee of 1% of the value that you are loading and you will be charged to withdraw money from an ATM.

On the market for comprehensive travel insurance?

Getting your funds organised for your trips away is just as important as finding the right travel insurance to ensure you don’t suffer any financial loss from unforeseen events while travelling. Find cover options with unlimited cover for overseas medical expenses, trip cancellation and loss or damage to baggage or personal items.

Compare travel insurance quotes from Australian insurance providers

Conclusion

It is important to compare different travel money cards. Each will have its own interest rates and fees. Make sure you compare as many travel cards as possible. The above two are a couple of great ones available in Australia. Why not take a look to see if they could be the most ideal cards to suit your needs? Money cards are convenient and they are easy to use – perfect if you spend a lot of time travelling

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Credit Cards Comparison

Rates last updated September 26th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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