Don’t Leave Home Without… a Cash Card
If you’re travelling out of your home country for a holiday, it’s always a good idea to take a travel money card for your everyday transactions and cash withdrawals.
The main benefit of travel money cards (also called cash cards, cash passports or currency cards) is that they are not directly connected to your bank account. This means that should your card be stolen or hacked into, your precious savings will be completely untouchable.
Instead of being connected to your bank account, travel cards are prepaid. You load money onto them and top them up whenever necessary from your bank account, and in some cases from other sources, too. Having a travel card also means you don’t have to carry around huge wads of cash, or multiple currencies. A good travel card can store and convert multiple currencies.
Many major banks, as well as various airlines, travel agencies and even postal companies offer travel cards. While it’s very important to do your own research and find a card that suits your needs as a traveller, we’ve listed some of the best options below to help make the decision simpler.
BEST GLOBALLY AVAILABLE OPTIONS
For those globetrotters who are based outside of Australia, here’s a great list to get you started. We personally love…
- Can be purchased worldwide (Australia, New Zealand, USA, Canada, UK, Europe, UAE, Japan, China, South America, to name but a few)
- Can be used everywhere MasterCard is accepted
- 10 currencies available – load as many as you like
- No overseas ATM or EFTPOS fees
- The Travelex money app lets you manage your card any time, anywhere
- Can be purchased in many countries, including Australia, New Zealand, Canada and the UK
- Can be used everywhere MasterCard is accepted
- 10 currencies available – load as many as you like
- No EFTPOS or top-up fees
- Reload 5 ways: online, mobile app, bank transfer, over the phone and in participating branches
- Can be purchased in many countries, including Australia, New Zealand, USA, Canada, UK, Europe, Singapore, Malaysia, Japan and Brazil
- No EFTPOS fees, and very low ATM fees
- 50+ currencies available – load as many as you like
- Best available exchange rates in all currencies, and very low currency conversion fees
- Can be used everywhere debit cards are accepted (except certain blocked countries)
FOR BRITISH GLOBETROTTERS
- Can be used in over 150 currencies, and stores money in 18 currencies
- Peer-to-peer secure currency swapping system provides extremely good exchange rates
- No transaction fees or ATM withdrawal fees (over £200)
- Manage your account, monitor exchange rates and send money to other users from the app
- No overseas payment, transaction or ATM fees
- Load up to 15 currencies, and use anywhere MasterCard is accepted
- Get up to six additional cards for your account to share funds with your companions
- Check your balance and history, and top up your card via the mobile app
FOR AUSTRALIAN GLOBETROTTERS
Australia Post Travel Platinum Mastercard
- Available currencies: AUD, USD, EUR, GBP, NZD, THB, CAD, HKD, JPY, SGD, AED
- Manage your card any time, anywhere with the Australia Post Travel Platinum Mastercard app
- No purchase, conversion or top-up fees
- Can be used everywhere MasterCard is accepted
- No purchase, transaction or ATM fees
- Can be used everywhere Mastercard is accepted
- Earn 1.5 Qantas points for every AU$1 spent in foreign currency, and 1 point for every AU$4 spent in Australian dollars
- Available currencies: AUD, USD, GBP, EUR, HKD, CAD, JPY, NZD, SGD, THB, AED
For more detailed comparisons and evaluations of Australian travel cards (many of which can be acquired internationally, as well), check out the information available on Canstar, Choice and Mozo.
So there are a handful of great travel money cards to consider – but there are plenty more on the market. Do you have a personal favourite that’s not listed here? Let us know in the comments!
Oh and don’t forget to read our article about avoiding international transaction fees and the best fee-free cards!