Travelex Multi Currency Cash Passport (Travelex Travel Card)

Travelex is a provider of travel money cards, foreign currency cash, and international money transfers.

“Worldwide money.”

What is the Travelex Multi Currency Cash Passport?

What-is-Travelex-Multi-Currency-Cash-Passport-(Travelex-Travel-Card)The Travelex Multi Currency Cash Passport is a pre-paid, debit MasterCard form of travel money card, and uses your own money for your spending. It can be used to pay for goods and services and to make withdrawals at ATMs.

You can load up to 10 foreign currencies on the Travelex Traveller Card – AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, and USD. Then use the Cash Passport My Account internet banking portal to check your balance, switch money from one currency to another on your card, and review your transaction history. If you do not have internet services, Cash Passport Card Services is available 24/7, worldwide to answer phone call queries.

You must have an Australian debit or credit card in order to apply for and purchase this card.

As a Cash Passport product, Travelex Multi Currency Cash Passport may currently not be used in the following countries due to economic or trade sanctions imposed by multiple countries:

  • Crimea
  • Cuba
  • Iran
  • North Korea
  • Sudan
  • Syria

Australia imposes its own sanctions from time to time; please check the Department of Foreign Affairs and Trade (DFAT) for details on the countries you intend to visit.

Exchanging-money-using-Travelex
Travelex at Ataturk Airport in Istanbul Turkey | Photo: Minemero (istockphoto)

Canstar-outstanding-value-travel-money-card 2016Winner of 2016 CANSTAR Award for Outstanding Value

CANSTAR congratulates Travelex on winning the 2016 Award for Outstanding Value Travel Money Cards with the Travelex Multi Currency Cash Passport.

Travelex’s strength lies within their exchange rates. Over the period assessed by CANSTAR, Cash Passport offered the top average exchange rate across all currencies we consider. For USD, they are a respectable 1.89% above the average rate, which accounts for an extra $48 in your pocket if you put an initial load of $3,500 onto your card. Even though they charge a closure fee and refund fee, the true cost of the product lies within the exchange rate and their great exchange rates outweigh these fees.

Along with their strong price offering, Travelex’s product is also rich in features. Their Terms and Conditions are very generous, and they allow for all methods of transaction dispute if you have a problem, with a maximum dispute time of 45 days.

Features of Travelex Cash Passport

  • Available currencies: 10:
    • US Dollar – USD
    • British Pound – GBP
    • Euro – EUR
    • Canadian Dollar – CAD
    • New Zealand Dollar – NZD
    • Japanese Yen – JPY
    • Singaporean Dollar – SGD
    • Hong Kong Dollar – HKD
    • Thai Baht – THB
    • Australian Dollar – AUD
  • Priority of currencies: If you are making a transaction in a currency you have run out of, the card will use the next available currency in the following order: AUD, USD, EUR, GBP, NZD, THB, CAD, HKD, JPY, and SGD.
  • Global use: Use the card wherever MasterCard is accepted at over 38 million locations worldwide. Withdraw cash from millions of ATMs around the world displaying the MasterCard logo.
  • Backup card: A free second card attached to your travel money card account is available for you to keep somewhere safe in case your primary card is lost or stolen. This second card is not a supplementary card for your partner or children to use; they will need to purchase their own travel money card.
  • Online shopping: Shop online at foreign retailers with the card (if you have loaded the currency the trade in onto your card).
  • 24/7 support:
    • Call Cash Passport’s Global Emergency Assistance Card Services team from anywhere in the world, 24/7.
    • Emergency cash funds in the local currency (up to the available balance on the card) can be sent to you.
    • A free replacement card can be sent at no cost to you.
  • Security: Chip and PIN protected.
  • Travel again later: Keep the card account open and add more funds to the card in order to use it again for your next trip. An administration fee applies if you choose to refund leftover balance into your normal bank account.

Exchange rates on the Travelex Multi Currency Cash Passport

Foreign currency exchange rates vary from time to time and are set by MasterCard (for transactions and merchant fees) and Travelex (for converting currency on card into another currency).

Cardholders benefit from locked in exchange rates that apply when you make a transaction or incur a fee in a currency loaded on your card.

Current live exchange rates apply when:

  • You use the card to make a transaction (ATM, point of sale, online shopping, or phone) using a currency not loaded on the card.
  • A merchant charges a fee to the card in a currency not loaded on the card.
  • Funds on the card are exchanged from one currency to another.

How to get and use the Travelex Multi Currency Cash Passport

  • Order: Order online and collect your Cash Passport in-store at Travelex (excluding HSBC branches). Travelex has stores at many airports in Australia including 6 of our 8 capital cities. You can order between $500 AUD and $5,000 AUD (or the foreign currency equivalent) at a time, but you can load more onto your card later. If ordering in-store, you will need to present photo ID.
  • Order fee: Online orders are free of Travelex commission; however, if you pay by credit or debit card, Travelex charges a card surcharge of 0.89% of the total order amount (at the time of writing), and in addition, your card issuer may charge a separate cash advance fee as this order may constitute a cash advance.
  • Load: Load your card for the first time when making your initial order either online, via BPAY, or in-store.
  • Activation: Activation happens automatically within 2 business hours of purchase.
  • Register: Use the Cash Passport My Account internet banking portal to register your card.
  • Reload convenience: Online or in-store.
  • Loading, reloading, and spending limits:
    • Minimum load (initial order): $500 AUD (or currency equivalent)
    • Maximum load (initial order): $5,000 AUD (or currency equivalent) over 24 hours, $20,000 AUD (or currency equivalent) over 21 days
    • Minimum reload: $100 AUD (or currency equivalent)
    • Maximum load or reload (branch or internet banking): $100,000 AUD (or currency equivalent) per load/reload
    • Maximum load or reload (BPAY): $25,000 AUD (or currency equivalent) per day
    • Maximum card balance over 12 months: $100,000 AUD (or currency equivalent)
    • Maximum value of spending transactions over 24 hours: $15,000 AUD (or currency equivalent)
    • Maximum ATM withdrawals over 24 hours: $3,000 AUD (or currency equivalent) (Note: Local ATM operators may set lower maximum ATM withdrawal limits.)
    • Maximum cash over counter in 24 hours: $350 AUD (or currency equivalent)
The-rates-and-fees-of-Travelex-Multi-Currency-Cash-Passport
Travelex ATM and currency exchange at Atlanta Airport | Anna Bryukhanova (istockphoto)

Rates and Fees of Travelex Multi Currency Cash Passport

  • Initial load fee: 1% of load amount
  • Reload fee (in-store): 1% of reload amount if reloading in-store at a Travelex branch
  • Reload fee (BPAY): 1% of reload amount if reloading via BPAY
  • Transaction fee for purchases: $0 charged by Travelex, but some merchants may charge their own fee.
  • ATM fee (overseas): $0 (No fee) charged by Travelex for overseas ATMs. Local ATM operators may charge their own fee.
  • ATM fee (Australia):95% of amount withdrawn for ATM withdrawals made within Australia
  • Cash over the counter fee: $10 AUD
  • Negative balance fee: $20 AUD charged if you allow your card to go into a negative balance
  • Currency conversion fee: MasterCard rate plus 95% of transaction value. Fee applies when:
    • You use the card to make a transaction (ATM, point of sale, online shopping, or phone) using a currency not loaded on the card.
    • A merchant charges a fee to the card in a currency not loaded on the card.
  • Secondary card fee: $0 (No fee)
  • Replacement card fee: $0 (No fee)
  • Monthly inactivity fee: $4/month AUD
  • Cash Passport Global Emergency Assistance fee: $0 (No fee)
  • Account closure fee: $10 AUD when you close your card or withdraw all funds from your card

CANSTAR is an information provider and in giving you product information CANSTAR is not making any suggestion or recommendation about a particular credit product. If you decided to apply for a credit card you will deal directly with a financial institution, and not with CANSTAR. Rates and product information should be confirmed with the relevant financial institution. Please ensure that you read the product disclosure statement to determine all the current options and inclusions for the product you are considering. For more information, read our detailed disclosure, important notes, and additional information.

About Travelex

About-Travelex-and-resources-for-Australian-Travellers

Travelex was founded in 1976 by Lloyd Dorfman, who set up the first ‘Bureau de Change’ store on Southampton Row in London. Today Travelex is the world’s leading independent foreign exchange specialist, providing cash and pre-paid travel money cards to over 37 million customers per year. They process more than 2,000 orders per hour.

Travelex has over 1,500 stores and 1,250 ATMs in 28 countries around the globe, located across key airports, sea ports, railway lines, and other tourist locations. Over 40% of the world’s 1.7 billion passengers per year will pass through an airport with a Travelex store. They first opened a store in the Brisbane International Airport back in 1990.

As for business solutions for foreign currency services, Travelex provides currency to corporates including banks, supermarkets, and travel agencies, thus extending their reach to over 100 countries.

Travelex offers two lifesaving (and budget saving) resources for Aussie travellers:

Travelex-Travel-Hub---Lifesaving-resources-for-Australian-Travellers The Travelex Travel Hub is jam-packed with travel guides and travel advice, inspiration for your travel wishlist, and travel tips for a safe, healthy and happy trip. There’s even niche travel advice for extreme sports and adventure travel, gap year travel, destination honeymoons, and more.
Travelex-Rate-Tracker---Lifesaving-resources-for-Australian-Travellers You can use the Rate Tracker on the Travelex website to watch a particular currency and wait for a good time to buy at a favourable exchange rate. You can also sign up to their newsletter to find out about their regular currency sales.

How Travelex supports the travelling community

  • Sponsoring brand ambassadors: From the National Theatre in the UK to the Royal Opera House and the Australian cricket team, Travelex has sponsored some amazing international icons over the years. This support means more travellers can have the opportunity to see them in person.

If you’re keen to protect the environment and local communities when you travel as well, there are many ways you can make your wanderings more sustainable!

 

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Written by: TJ Ryan