Travel money cards are specially designed debit cards that you load up with foreign currencies prior to travelling. The advantage of pre-loading the card with your choice of currency is that you can do so when the exchange rate is at its most favourable.
For the traveller going to one country or several, this is the next best thing to carrying cash or traveller’s cheques. Different cards offer different currencies but they essentially offer American dollars, UK pounds, Euros and New Zealand dollars, amongst others.
You can preload a single currency or several, according to your travel plans. You’ve then got foreign currencies at your fingertips. Once abroad, you can reload your card or change the currencies around via the internet or your mobile phone. You can use your card to withdraw cash from ATMs, shop for souvenirs, pay for restaurant meals or book accommodation online.
A handful of Australian providers offer travel money cards and each varies slightly so it’s a matter of researching which card suits your purpose and we can help you with that.
Article updated 10/07/2012