The 3 Best Prepaid Travel Cards for Australians

No matter what your situation, make sure you compare travel cards before making a decision.

Australians love to travel. We're probably the most prolific travellers on the globe and we travel overseas anytime and anywhere.

While we travel, we also need access to cash. It's not the most glorious 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 feeling negative at any stage of our trip.

To help narrow your options, here is a list of 3 best Prepaid Travel Cards, which currencies they hold and the key benefits and pitfalls.

First of all, What are Prepaid Travel Cards?

Prepaid travel cards are a good alternative to carrying cash. They look like credit or debit cards, but they function differently.

You're able to load the card with a set amount of money in the currency you need and can use it to make purchases online, in stores and to withdraw money at ATMs.

Most travel cards allow for multiple currencies to be loaded onto the card. So it's important to know what currency you'll be using on your travels. Airlines also offer prepaid cards so the money you spend can earn you reward points.

Check out the list below for the 3 prepaid cards we think are worthwhile.

TransferWise is our best value travel debit card.

With this card:

  • It's very easy to set up and order
  • You can receive foreign currency into a free multi-currency account linked to the card
  • You can transfer money to a bank account overseas

It's not all good news though

  • There is a 2% ATM withdrawal fee when you withdraw over $350 during a month
  • It takes 7-14 days for delivery

Click here to see the full list of cards and how TransferWise compares

  • No annual fee, hidden transaction fees, exchange rate markups
  • No minimum balance requirements
  • Allows you to make payments and withdrawals wherever you are in the world in over 40 currencies
  • Local bank account details in Australia (AUD), the UK (GBP), the USA (USD), Europe (EUR) and New Zealand (NZD)
  • It takes 7-14 business days to receive the card
  • Can't always access local technical support depending on where you are
  • Free cash withdrawals limited to under $350 every 30 days
  • Only currently available in the US, UK, Europe, Australia and New Zealand

Revolut is our best multi-currency travel card.

With this card:

  • No purchase fee, load fee, reload fee, exchange rate margin or minimum balance requirements
  • Unlike other Travel Cards, its free and easy to use the balance of your currency or convert it back to AUD
  • The exchange rates are unbeatable. They use the same rate you see on XE or Google with no hidden mark-up

It's not all good news though

  • For the free Standard account, there is a 2% ATM withdrawal fee when you withdraw over $350 during a month
  • The premium account costs $10.99 a month, which can really add up if you are not using it often

Click here to see the full list of cards and how Revolut compares

  • Very easy to use app
  • Free to set up
  • No hidden fees or exchange rate mark-ups (except on weekends)
  • You can use it to transfer money to a bank account overseas
  • Additional fees for using the card on a weekend
  • 2% ATM fee once you withdraw more than $350 in any 30 day period
  • 3-4 business days before you receive your card
  • Ongoing subscription fee for Premium and Metal cards

Citibank Saver Plus is our best bank travel 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