Prepaid Travel Card Review

Mastercard and Visa debit card

These days, we have heaps of choices when it comes to Travel Cards, but are they all the same? Absolutely not. We’ve had a good look through a dozen of the most widely used Travel cards and came up with some tips that might save you some money.

Prepaid Travel Cards have different features and fees, but the most important thing when choosing a card is considering how it will be used. It takes a while to go through each Travel Card in detail, so here are some of our picks based on different situations. For a quick comparison table of fees and features of all the Travel Cards we compared, go to our Travel Card Fees and Features page

 

For the frequent traveller:

Look for a Travel Card that lets you load different currencies onto the one card. Mastercard and Commonwealth offer the biggest range of currencies. However, ANZ, NAB and Ozforex aren’t too far off the pace.

Be aware of the ATM fees if you withdraw cash often. NAB, Travelex and Mastercard have the lowest ATM fees.

Our verdict: Mastercard Multi-Currency Cash Passport 

Honourable mention: Ozforex Travel Card

 

Single Trip:

Travel Cards Review

If you plan on buying a travel card for a specific holiday, make sure you find out the set up and closure fees. The Australia Post Load and Go and Virgin Global Wallet both have $0 set up fees. But, the Global Wallet is only available to Virgin Frequent Flyer members. Recently ANZ and NAB offered to waive the set up fee, so keep up to date with any special promotions. Some cards also charge you a percentage of your initial load.

Most cards have a closure fee between $10 – $15. Cards without a closure fee usually have an inactivity fee which will slowly eat away at any balance left on it.

Our verdict: ANZ Travel Card 

Honourable mention: Australia Post Load and Go / Virgin Global Wallet

 

 

Hey big spender:

Travel cards aren’t just for a quick holiday — they’re for online shopping as well. If you are spending big on the card, make sure you check the currency conversion rate and any reload fee. A small currency conversion rate difference can cost you big over time. When spending large amounts it’s the most important fee/charge you want to get right.

Our verdict: Ozforex Travel Card

 

Recommended For You

Currency Exchange

The Ultimate Guide to Currency Exchange

Want to know the best way to exchange money? This guide shows you how to track down the cheapest way to buy currency for an overseas holiday.


 

Buying Currency Abroad

Is it Cheaper to Exchange Money Overseas?

It can be cheaper to buy your currency overseas, but it really depends on your holiday destination. This article shows you where.


 

Buying Currency Online versus In Person

How to Buy Currency: Online versus In-Store

Which is the better option for you to buy your travel money – online or in-store? Read this article to find out.


 

Helping You Save Money on Currency

Buying travel money or transferring money overseas can be expensive and confusing. So how do you make the best choice and get the most out of your money?

An easy way is to use a comparison table for either international money transfers or currency exchange. These tables list and compare the banks with other large foreign exchange companies.

We’ve also put together tons of helpful videosguides and reviews that will help you make the right decision. You can work out a cheaper way of converting currency while still keeping your money safe.