Travel Money Cards - February 10th
The Australian dollar (AUD) demonstrated remarkable strength over 2016. Despite enduring two Reserve Bank (RBA) interest rate cuts (in August and May), a US Federal Reserve rate hike (in December) and a 0.5% fall in Australian…– Read more
Canstar News - December 13th
For the first time ever, Australians will be able to regularly travel directly to Europe, via a 17-hour Qantas flight from Perth to London. The new route will be the third-longest passenger flight in the world,…– Read more
Travel Credit and Debit Cards - November 18th
December is the busiest month of the year for Australians travelling overseas. In fact statistics show December has the highest number of residents departing on short-term overseas trips than any other month for every year since…– Read more
Travel cards are a type of specially-designed debit card so you can spend your own money while travelling overseas. They are popular for several reasons:
The ideal card according to CANSTAR’s research is one that includes the following features:
It can be hard to know what travel money card is the best, so our brightest researchers at CANSTAR have done the hard work for you. Compare travel money cards using the comparison selector tool at the top of this page.
CANSTAR compares travel cards with a unique, sophisticated ratings methodology that considers both pricing and features. Travel money cards that offer outstanding value to Australian travellers overseas are awarded our 5-star rating.
Some of the features CANSTAR compares are:
You can read the full star ratings report for more information, or compare travel money cards to suit your destination and budget using the comparison selector tool at the top of this page.
Written by: TJ Ryan and Tim Smith
Accommodation: Any type of dwelling or lodging where you pay a fee to stay overnight.
ATM fee: A fee charged to your travel money card to make a cash withdrawal from an ATM.
Closing fee: A fee charged to close your travel money card account.
Conversion fee: Any fee charged to convert one currency into another. Usually refers to a fee charged to your travel money card to pay for something in the local currency using a different currency loaded on your card.
Conversion rate: Also known as the exchange rate.
Currency order: The order in which the next available currency will be selected if you run out of the currency that you are using in the current transaction.
Exchange rate: The ratio at which one currency buys another, which determines the value of one country’s currency by comparison to another. For example, $0.72 USD to the AUD dollar means that the Australian dollar buys $0.72 in US dollars.
Inactive fee: A fee charged to your travel money card for not using it in that month.
Initial fee or issuing fee: A fee charged to your travel money card for opening the account and issuing the card to you.
Limit: Cards have a maximum limit to the amount of money you can load onto them, the amount you can withdraw in one day, and the amount you can reload onto them in one go.
Pre-paid card: A card onto which you load your own money when you open the account. You cannot spend more money than you have loaded onto the card.
Reload fee: A fee charged to your travel money card for adding an additional amount of money onto your card.
Secondary card: An additional card that also accesses the funds on the same ‘travel money card’ account.
Travel insurance: A form of insurance policy that covers you for various events happening to you while you are away from home. Depending on the policy, it may include medical emergencies, unexpected changes in travel plans outside your control, and lost luggage or other items. For more information, see our travel insurance page.
Traveller’s cheques: A cheque or bill of exchange, available in fixed denominations of various currencies. Can be accepted as cash in many places.
At the time of writing, CANSTAR researches and rates travel money cards from the following providers:
Compare travel money cards for your destination and budget using the comparison selector tool at the top of this page.