The 3 Best Debit Cards for Australians Travelling Overseas
Here is a list of the 3 best Debit Cards you can take with you on your travels and the positives and negatives for each one.
As Australians, we love to travel. Almost 10 million of us took to the skies last year, mostly to our neighbours in New Zealand and Indonesia, but also further away to the US and Europe.
While we travel, we also need safe access to cash. It's not the most glamorous part of our travel plans, but it's equally important to decide on the best travel money option for us, so we're not left worried at any stage of our trip.
First of all, What are Travel Debit Cards?
Debit cards are a good alternative to carrying cash. They also offer the convenience of a credit card, but work differently.
When you use your debit card, you're drawing money directly from your bank account when you make a purchase. It's designed for everyday money transactions and means you're not accumulating debt.
Debit cards are a great option if you've saved money specially for your trip and if you want to budget your overseas spending. We also suggest bringing a back-up debit card and a separate credit card for peace of mind and greater flexibility on your trip.
Now, we don't like fees, so our list of the best debit cards to take on your trip feature little to no extra charges.
Best value debit card
The Citibank Plus Everyday Account is our best value debit card. With this card you can:
- withdraw money for free at over 3000 ATMs Australia-wide and overseas
- take advantage of no foreign transaction fees, monthly fees, or minimum opening balance
- transfer money to friends and family anywhere in the world for free
We think this is the ideal debit card whether you're staying local in Oz or travelling to destinations in Asia or Europe.
- No international ATM or transaction fees
- Fee-free international money transfers to any account worldwide
- SMS notifications through Citi Alert
- Cash deposits available within 24-48 hours
- Can’t have two cards active at the same time
- $5 account closure
Best low fee card
The ING Orange Everyday Visa is another debit card with little to no fees, but you need to meet certain conditions. They recently removed foreign transaction and ATM withdrawal fees making it even more tailored for travellers.
Although you have to deposit $1,000 and make 5 purchases per month to get a rebate for ATM fees, it's the only debit card that reimburses you for the fees that overseas ATM operators charge, which can be worth it.
This is a great card for savvy and organised travellers heading to popular holiday destinations.
- No overseas ATM fees, if you meet certain criteria
- No international transaction fees
- Apple and Google Android Pay enabled and ING app
- Need to deposit $1,000 and make 5 purchases per month
- No branches, which can be inconvenient
- No interest payments for transaction account
Best multi-currency card
The HSBC Everyday Global Account makes bringing cash overseas stress-free and simplifies your overseas purchases by allowing you to hold multiple currencies in the single account. It's basically a debit card with the benefits of a prepaid travel card.
You can hold up to 10 currencies including AUD, USD, EUR, GBP, NZD, CAD, SGD, HKD, CNY and JPY.
- One bank account number for loading multiple currencies
- Lock in up-to-the-minute exchange rates
- No ATM or transaction fees
- You can only pre-load up to 10 currencies
- Customer service isn't great