Discover your options for accessing cash conveniently and securely when overseas with a Commonwealth Bank credit card.
Are you going on an overseas holiday? Once you’ve ticked your flights and accommodation off the list, it’s time to start considering your travel money options. Commonwealth Bank offers a number cards that offer you convenient and secure access to your cash overseas. Use our guide below to compare your options and organise your travel money today.
Compare Commonwealth Bank credit cards
Which card should you take when travelling overseas?
The right card to use on your next overseas trip will depend on your financial situation, travel plans and spending habits. Some of the factors you can consider when comparing cards to use on your international holiday include:
- Acceptance. All Commonwealth Bank credit cards are Mastercard, Visa or American Express products, which can be accepted around the world. This means you will be able use a CommBank credit card in millions of locations, wherever Mastercard, Visa or Amex is accepted. Note that due to economic sanctions, you’ll find that you can’t use a Mastercard in Crimea, Cuba, Iran, North Korea, Sudan and Syria.
- Included travel insurance. Commonwealth Bank Gold, Platinum and Diamond credit cards offer included travel insurance that can help you save money on travel costs. While you’re not required to meet a spend requirement to access Commonwealth Bank’s credit card travel insurance, you will need to activate the insurance via NetBank before your trip to enjoy full access to the cover.
- Foreign transaction fees. If you’re using your credit card overseas, currency conversion or foreign transaction fees are some costs you’ll need to be aware of.
|Converted by||International transaction fee|
|Mastercard or Visa||3.00%|
|American Express||2.00% plus a 1.50% currency conversion factor, which is included in the converted transaction amount|
|Transactions overseas in Australian dollars||3.00%|
As well as foreign currency conversion fees, watch out for Dynamic Currency Conversion (DCC) fees when travelling overseas. The DCC applies when the retailer asks if you’d like to pay in your local currency, rather than the currency of where you’re making the transaction. These transactions will attract a DCC fee of 4% or upwards from the foreign retailer or bank you’re shopping with.
- Travel card. If you want to avoid currency conversion fees, the Commonwealth Bank Travel Money Card is another option. Rather than accessing a line of credit, the Travel Money Card is a prepaid card that allows you to load and spend funds in up to 13 international currencies. This gives you a way to avoid foreign currency conversion fees. With no cost to load funds on the card, transfer between currencies or check your balance, this card could be a low-cost way to access your own funds overseas. Other fees may apply depending on how you use the card and where you travel, though, so it’s important to review the full details of the card and compare it to other options before applying.
What you need to do before going overseas
Before you leave for your holiday, make sure you’ve covered all of these bases:
- Activate your PIN. Many places require PIN verification rather than a signature, so you should make sure you have a PIN on your card or you may not be able to use it at certain locations overseas.
- Tell CommBank you are travelling overseas. Before your travel overseas, let CommBank know your plans. This will help protect your account security while you’re away.
- Note your card details. Make a note of your credit card contact numbers, including emergency contact numbers in case you need to contact CommBank if your credit card is lost or stolen. Visa, Mastercard and American Express all offer a zero-liability guarantee against fraud, but you should still inform the bank the moment a credit card goes missing.
- Activate your travel insurance. If your Commonwealth Bank credit card offers included travel insurance, make sure to activate your policy through NetBank before you leave.
- Load funds on your card. If you’re using the prepaid Travel Money Card, you can load the funds on your card before you leave for your holiday. This allows you to lock in a competitive exchange rate and could help you stick to your travel budget. If you use NetBank, funds should appear on your Travel Card immediately. If you use BPAY, it can take up to two business days for the money to appear in your account. Make sure to keep these details in mind to avoid finding yourself stranded without cash because you’ve left loading funds on your card to the last minute.
CommBank offers customers a number of cards that can be used to access their cash overseas. As it’s not the only bank to offer overseas options, make sure to compare other credit cards you can use overseas before you apply and leave for your trip.Back to top