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Travel money cards with the lowest fees

We look at seven travel money cards from the big banks and airlines..

Prepaid travel money cards are offered by major banks, airlines and foreign exchange retailers like Travelex. Before travelling overseas, you load money into the card account, which locks in the exchange rate for foreign currencies at that time. 

You can then use the card for purchases and cash withdrawals just like a debit or credit card, usually wherever Visa and Mastercard are accepted. 

You can reload money on-the-go via an app or website, and if the card is lost or stolen, it can be replaced (usually at no cost to you).

Prepaid travel money cards also give you assurance that you're not handing the details of your everyday banking account to merchants you're not familiar with, and they provide easy access to cash when you want some, says Peter Marshall, head of research at money comparison website Mozo .

CHOICE tip: Travel money cards are best for longer trips. They're usually not worth your while if you're only taking a short trip, as some have closure, cash out and inactivity fees.

Travel money card fees

A major difference between prepaid travel cards and debit or credit cards is their fees. Some costs aren't immediately apparent, such as hefty margins built into the exchange rates.

And although fees have come down since we looked at these cards two years ago, you still need to watch out for:

• fees to load the card – either a percentage of the total or a flat fee
• ATM withdrawal fees
• a cross currency fee or margin when you use the card in a currency you haven't preloaded
• further fees if you close the account or haven't used the card for a period of time.

Travel money card with the lowest fees and best exchange rate

Westpac worldwide wallet.

Westpac closed its Global Currency Card in July 2021 and offers its new card in partnership with Mastercard.  It's also available from Bank of Melbourne and BankSA.

Currencies: AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD, ZAR.

Key features:

• No loading, reloading, closing or inactivity fees.
• Free to use it in network ATMs in Australia and partner ATMs overseas in a range of countries including the UK, US and New Zealand.
• A charge applies at non-Westpac and non-partner ATMs in Australia and overseas.
• Best exchange rates for the US dollar, the Euro and GBP in our comparison.*
• The only card that lets you preload the South African rand.

Other travel money cards

Next to the Westpac Worldwide Wallet, there are six other travel money cards available.

Australia Post Travel Platinum Mastercard

Available online or at post offices.

Currencies : AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD, AED.

• Fee to reload the card via BPay, debit card or instore, but free via online bank transfer.
• Closure fee.
• Fees for ATM withdrawals in Australia and overseas.

Cash Passport Platinum Mastercard

It's issued by Heritage Bank and is available online and from a number of smaller banks and credit unions (like Bendigo Bank and Bank of Queensland) as well as travel agents. 

• Fee to reload with a debit card or instore, but free via BPay.

CommBank Travel Money Card

CommBank Travel Money Card (Visa)

As NAB and ANZ have closed their travel money cards, this is the only other travel money card available from a major bank. This card has the largest variety of currencies that can be preloaded.

Currencies : AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD, AED, VND, CNY.

• Fee if you make a purchase with currencies not preloaded.
• Fee for withdrawals at overseas ATMs.

Qantas Travel Money Card

Qantas Travel Money Card (Mastercard)

The only travel money card offering from an airline. It can be added as a feature to your Qantas Frequent Flyer card, so you don't need a dedicated card, and you can earn points using it.

• Free to reload via bank transfer or BPay, but there's a reload fee if using debit card.

Travelex Money Card

Travelex Money Card (Mastercard)

Travelex is an international foreign exchange retailer. In Australia, it operates more than 140 stores at major airports and shopping centres, across CBDs and in the suburbs. It was the card with the best exchange rate for New Zealand dollars.*

Currencies : AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD.

Fees : 

• Load fee instore, but free via Travelex website or app.
• Reload fee instore or via BPay, but free via Travelex website or app.
• Closure fee and monthly inactivity fee (if not used for 12 months).

Travel Money Oz Currency Pass

Travel Money Oz Currency Pass (Mastercard)

The Travel Money Group is owned by Flight Centre and is a foreign exchange retailer. 

• Reloading the card via an online bank transfer or instore is free, but there's a fee if you reload via BPay, debit card or credit card. 
• Cash out (closure) fee. 

Travel money card tips

• Make sure the card allows the currencies you'll need, and also consider stopovers. For example, the South African rand is only supported by the Westpac card.
• Try to load your card with the right currencies and amounts on days with good exchange rates. 
• Make sure you know how to reload your card if you run out of funds while overseas.
• It may be more convenient to choose a card that has an app that can be linked to your bank account.
• Avoid loading more money than you'll need as there may be fees and exchange rate margins to get the unused money back.
• Remember to cancel the card once you're finished your trip, especially if it has inactivity fees.
• Be mindful that you still may need a credit card, as travel money cards may not be accepted as security for hotels and car rental agencies. 

Stock images:  Getty, unless otherwise stated.

Join the conversation

To share your thoughts or ask a question, visit the CHOICE Community forum.

Order Online | Home Delivery & Australia Post Collection

1 AUD = Loading Best Rate

Pick Up Travel Money At Your Local Post Office

Pick up your order from your nearest australia post office.

Forget having to waste time traveling into the CBD to hunt down the best currency exchange rates. We’ve teamed up with Australia Post so that you can get your travel money delivered directly to one of their stores.

With access to 3,000+ Post Office locations Australia wide, you can pick your order up from your local post office at a time that suits you. All you need to do is place your order online, select your closest or most convenient Post Office and pick up your order once it is ready for collection.

Are you heading overseas soon and need to get your hands of foreign currency fast? Here at Foreign Xchange, we’re ready to help. With our online currency exchange platform, you have access to 60+ foreign currencies at the tap of a few buttons.

We’re now delivering your travel money orders to Post Offices across Australia.

Convenience is at the heart of what we do, ultimately we’re here to make your life easier. In the build-up before a big trip overseas, we understand how much of a headache everything can be. From buying travel insurance, booking accommodation and sorting out airport transfers, everything that goes into planning a holiday can be stressful. Buying foreign currency shouldn’t be.

Expanding our click and collect currency exchange service gives our customers more flexibility when it comes to buying foreign money.

Partnering with Australia Post allows our customers to get their travel money delivered directly to a Post Office location instead of their home. If you know you’re going to be at work or out during weekdays, this is a great option for you to pick up your order when is most convenient for you.

Our Post Office click and collect option works exactly the same as our home delivery service. You still have access to great currency exchange rates, safe and secure delivery and exceptional customer service.

You can click and collect both foreign currency in cash as well as our Cash Passport prepaid travel card. Using our online currency exchange calculator, simply select how you would like to purchase your travel money. While foreign cash is great for small purchases, prepaid travel cards are a great way to carry around multiple currencies as well as large amounts of money.

Deliver your travel money to your nearest Post Offices across Australia!

If you know you’re going to be at work or out and about during the week, nominate an Australian post office location that you know you can get to in your free time. Whether you want to pick up your travel money at the weekend at a location near your house. Or if there’s an Australia Post office near your work and you want to collect your foreign cash on your lunch break, you can. This option gives you complete flexibility.

With over 3,000 Australia Post locations right across Australia, we can get your currency delivered to both metro and rural locations. Better still, you can be safe in the knowledge, that your foreign currency is being held at a secure location until you’re ready to pick it up.

All of our orders are carefully counted and placed into an Airlock packet to ensure that nobody can tamper with your money until you receive it. All you need to get your hands on your currency is to provide proof of identification when you arrive at your local post office.

Why Order Your travel money with Foreign Xchange?

Hard to beat currency exchange rates

Our currency exchange rates are just one thing that we pride ourselves on. Check our rates against our competitors and we’ll be confident that you’ll struggle to find better.

Safe and secure delivery

The important part is making sure you get your currency safely and securely. All orders are counted and packed with the utmost care. We only use trusted couriers to make sure your currency gets to you and nobody else.

$0 Commission fees

There are no hidden costs or extra charges when you exchange currency with us. What you see is what you get, all you need to pay is for delivery which remains at a flat fee across all of our orders.

Easy, hassle-free and convenient

Save time and money by ordering foreign currency online with us today. We’re here to take the headaches out of buying foreign cash and making money transfers online. Ultimately, making it easy and as convenient as possible for you and all of our customers.

Collect your order from your local Post office

There is nothing worse than booking the day off work to be at home to accept delivery. All for it to not turn up on time, now you don’t have to worry about it. Simply select your nearest Australia Post office location and collect your travel money at a time that is most convenient for you.

Rather than getting your travel money delivered to your home and not being in to receive it. Get it delivered directly to a Post Office location and pick it up when you’re ready.

One of the great benefits to nominating a specific Australia Post location is that you get to choose a specific post office to pick up from. At some point, we’ve all experienced a delivery getting redirected to depot or location that is way out of our way. This way you can choose a location that is convenient for you.

When will my order be ready for collection from Post office

Place your order online with us today and your currency will be ready for collection in as little as 4 business days. Once your travel money arrives, you will be notified via text message and email. You can then pick up your Australia Post currency exchange whenever you’re ready.

If you are unsure about postage times or require your travel money urgently, please contact us immediately and we can do our best to make sure you get your currency on time.

How much does the Australia post travel money collection service cost?

As with all our delivery fees, no matter where you are in Australia, we charge a flat fee of $30 to cover all postage costs. We use our premium network of couriers to ensure your foreign currency is delivered safely, securely and on time. This cost also covers the Secure Collect packet we use to ensure your currency is kept safe and secure on its journey to your chosen destination.

What Our Customers Say

Phonz musik.

Average Rating: 5.0 stars (based on 3 ratings) Changing Philippine Pesos to AUD, I was quoted (at the time) 42.5pesos across the road and this guy gave me approximately 41.806? I read reviews and it seemed that it was better “across the road” but as already mentioned, this shop gave me a better deal.

Kane Taylor

Average Rating: 5.0 stars (based on 3 ratings) Great Rates! Definitely will come back.. FX beat everyone else quite easily. Gave me the best rates first up, no need to ask second time. Purchased US Dollars and Canadian Dollars today at the best rate in the town! Thank you Amit!

Morgan Bradley

Average Rating: 5.0 stars (based on 3 ratings) Best Rates for buying US Dollars, Euros and British Pounds. Amit also helped me swap some of my old US Dollar bills for the new ones without charging anything. I had previously checked 4 other currency shops and no one helped me out.

In this guide

Restrictions

Your reviews, ask a question, australia post travel platinum mastercard review.

Spend in 11 currencies, lock in exchange rates and boost your travel budget with a promotional cashback offer.

What currencies can I load on the Australia Post Travel Platinum Mastercard?

• Great British pounds
• New Zealand dollars
• Canadian dollars
• Japanese yen
• Hong Kong dollars
• Singapore dollars
• United Arab Emirates dirham
• Australian dollars

If you make a purchase in a currency that isn't supported on the card, the Mastercard rate ("FX Rate") plus a margin of 0% of the transaction value will be applied.

Features of the Australia Post Travel Platinum Mastercard card

As well as the 10 supported international currencies and locked in exchange rates, here are some of the extra features you can expect from this travel card:

• Complimentary lounge passes. If your flight is delayed, you can wait for your next flight in comfort with two complimentary access passes to LoungeKey lounges or restaurants.
• Free global Wi-Fi. When you load your Cash Passport with a minimum AUD$100 or foreign currency equivalent, you will be eligible to register for a 3 month membership of free global Wi-Fi provided by Boingo Wi-Fi. After starting a new 3 month membership, you can be eligible for another 3 month membership after your active one expires if you make another eligible reload during this period.
• Domestic: 2.95% of withdrawn amount
• International: $3.50 AUD (Or equivalent in foreign currency)
• Manage your account. You can easily manage your account on the go via 'My Account', which you can use to top up your account and view your transactions.
• 24/7 global customer service. If your card is lost or stolen, you can also make use of 24/7 customer support who can help you with a card replacement or emergency cash. Call 1800 098 231 from within Australia or +44 207 649 9404 internationally for assistance.

How to load and reload funds on your card

You can top up your card balance online, via bank transfer or in-store:

• Debit card. You can use your debit card to load money on your account and you should be able to access the funds immediately.
• Bank transfer. If you load your card via bank transfer, it will take up to one or two business days for the funds to appear in your account.
• BPAY. You can load funds via BPAY, but a 1% reload fee applies. It will take up to two business days for your funds to appear in your account if you load via BPAY.
• Australia Post. You can also load funds on your card in-store at an Australia Post office.

You can load a minimum of $100 on the card and a maximum of $100,000 p.a.

How to order an Australia Post Travel Platinum Mastercard card

You can order your Australia Post Travel Platinum Mastercard card online or in-store at Australia Post. You just need to provide your full name, contact number and email.

The Australia Post Cash Passport could be a good multi-currency travel card option if you want a prepaid card that locks in exchange rates. With complimentary Wi-Fi and airport lounge options, it also has plenty of platinum features that could come in handy on your next trip. As there are a bunch of prepaid travel cards available on the market, make sure to compare your options before choosing the right card for you.

• Australia Post Travel Platinum Mastercard Product Disclosure Statement PDF
• Australia Post Travel Platinum Mastercard TMD

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June 14, 2024

I have contacted you several times by phone trying to solve my issue. I have lost my PIN. My card has been blocked due to fraudulent activity. I am unable to draw my money out, purchase online with my card. I have asked for a new PIN which you say you are unable to provide. I asked for a new card to transfer my money too which you say you can’t do. Please advise how I am to access MY money. Thank you and waiting a favourable reply.

Sarah Megginson Finder

June 15, 2024

Finder is a review and comparison site, we’re not directly affiliated with Mastercard so we can’t provide personal customer service. You can contact Card Services on 1800 549 718.

Best of luck!

cheers, Sarah

February 08, 2020

Is there an age limit for this card? Can I get this for my 12-year-old? Thanks.

February 09, 2020

Thank you for contacting Finder .

To apply for the Australia Post Cash Passport Platinum Mastercard, the applicant must be at least 16 years old. For the application, your son/ daughter must provide his/ her full name, a valid contact number and email. A valid ID such as passport or Driver’s License is required to verify the applicant’s identity.

Your 12-year-old son/ daughter may not be able to apply now due to the age requirements.

I hope this helps.

Cheers, Ash

November 20, 2018

Trying to find out how much money I have on my pre paid currency card australian post? How do I do this as it keeps saying my email address and password is wrong?

John Basanes Finder

November 21, 2018

Thank you for leaving a question.

If you need to check your account details or change the password linked to the email that you have with the account, you may click on “Forgot Password” located at the right side of the screen. Confirm your details and an email with the link to reset your password will be sent to you. Hope this helps!

Cheers, Reggie

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• Debit cards
• Wise Travel Money Card Review
• Revolut travel account review
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The 6 Best Prepaid Travel Cards for Australians 2024

Here is a list of the 6 best prepaid cards you can take with you on your travels and the positives and negatives for each one:

• Wise - our pick for prepaid cards

Revolut - low fees

• Citibank - good for use at home
• Travelex - no fees for ATM withdrawals
• Australia Post - lock in exchange rates

HSBC - no international transaction fees

Prepaid travel money cards let you load money - either in AUD or the foreign currency you need - in advance, which you can then use as you travel , for spending and withdrawals. Lots of cards let you top up and manage your account through an app, which means you can always keep up with your money, even when you’re away from home.

Picking the right prepaid card can mean you get more convenient ways to spend and withdraw when you’re abroad - and lower overall costs, too. Let’s look at some of the best prepaid travel cards  for Australians , so you can pick your perfect match:

Wise - our pick for prepaid travel card

• Top up for free in AUD using PayID or bank transfer
• No annual fee, hidden transaction fees or 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), Canada (CAD) and New Zealand (NZD)
• Available in the US, UK, Europe, Australia, Singapore, Japan and New Zealand

Find out more about the Wise card .

With this card:

• It's very easy to set up and order
• Available as a  virtual card
• You can receive foreign currency into a multi-currency account linked to the card
• Pay with your Wise card in most places overseas where debit cards are accepted
• 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

Go to Wise or read our review .

• No hidden fees or exchange rate mark-ups (except on weekends)
• Very easy to use app
• Free to set up account and top up
• You can use it to transfer money to a bank account overseas

Read the full review

• 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
• 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
• 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

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

Australia Post Prepaid Travel card - lock in exchange rates

• Load up to 11 different major world currencies
• Spend and withdraw easily around the world
• Get access to extras like free wifi when you travel
• Manage your card in online and via an app
• Transfer instantly to another Travel Platinum Mastercard

• Load up to 11 different currencies for easy spending and withdrawals
• Lock in exchange rates so you know what your travel money budget is in advance
• Get extra perks like free wifi when you load 100 AUD or more
• Get fraud protections from Mastercard
• 3.5 AUD international ATM fee, or 2.95% domestic ATM fee
• Exchange rates to add money in a foreign currency or spend a currency you don’t hold are likely to include a markup
• Some fees apply depending on how you top up your account

Travelex - no fees for international ATM withdrawals

• Load up to 10 major currencies at a time
• Spend and withdraw anywhere Mastercard is accepted
• Contactless payments so you can just tap and go
• No Travelex fees for international ATM withdrawals
• Free to spend currencies you hold in your account
• Order online and have it delivered to your home - or collect in store

• Top up and hold up to 10 currencies at a time
• View and manage your account online
• Spend online and in person, and make withdrawals as you travel
• No membership or account fees to pay
• Get exclusive Mastercard discounts and perks
• Inactivity fees apply if you don’t use the card for a year
• Not all major currencies are supported for holding - double check they have the currency or currencies you need

Go to Travelex or read our review .

Citibank Saver Plus - best for use at home

• No international ATM or transaction fees
• Fee-free international money transfers to any account worldwide
• SMS notifications through Citi Alert

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
• Cash deposits available within 24-48 hours
• Can’t have two cards active at the same time
• $5 account closure
• Hold and exchange 10 currencies: AUD, USD, GBP, EUR, HKD, CAD, JPY, NZD, SGD, and CNY 
• No account opening or annual fees to pay
• No foreign transaction fee and no HSBC ATM fee at home or abroad
• Some cashback earning opportunity on local spending 
• Easy online overseas transfers - 8 AUD fee and exchange rate markups apply

• Hold and exchange 10 currencies
• No account opening fee, no ongoing fees 
• Get up to 2% cashback on eligible card spend
• No HSBC ATM fee
• No international transaction fee
• 8 AUD fee for sending money overseas
• Cashback on low value transactions made in Australia only
• Limits apply on how you can use CNY within your account

Read our HSBC Everyday Global Account review .

What are Prepaid Travel Cards?

Prepaid travel cards are a good international card alternatives 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.

Find out how our 5 best prepaid travel cards for Australians compare in our best and worst travel cards article .

Looking for something different?

Read our guides on:

• The best travel debit cards
• The best travel cards for Europe
• The Wise debit card review
• Best virtual debit cards for Aussies

How does a prepaid travel card work?

Order a prepaid travel card online, through a provider app , or - in some cases - pick one up at a physical location or store. Generally to get your card you’ll need to show or upload some ID documents for verification - this is to keep your account safe and is a legal requirement.

Once you have your card account open , you can load funds . Different cards have their own supported methods for topping up, which usually include bank transfer, PayID, credit and debit card, and which may also allow you to deposit cash in some cases. Once you have funds on your card, you can switch to the currency you need for overseas spending. In some cases you can also leave your funds in AUD and just allow the card to convert for you - but do check that no additional fees will apply in this case.

Prepaid travel cards can then be used to tap and pay , make withdrawals and shop online . You can often also add them to mobile wallets like Apple Pay for convenient spending. Because your card isn’t attached to your everyday account it’s secure, and you can only spend the funds you’ve loaded, which means there’s no chance of accidentally blowing your budget.

Advantages and disadvantages of prepaid cards

Prepaid cards can be a handy addition when you’re abroad, as they are secure and convenient to use for payments and withdrawals. However, they’re not the only option. If you’re not sure about whether a prepaid card is right for you, check out these advantages and disadvantages to help you decide:

Advantages:

• More convenient than carrying cash, with easy access to ATMs to withdraw when you need to
• Not linked to your primary day to day account, which can be more secure and make budgeting easier
• Some accounts let you buy currency in advance to lock in exchange rates when they’re good
• You may be able to access better exchange rates and lower fees compared to using a regular bank card

Disadvantages:

• Some prepaid cards have fairly high fees - including charges when you add money to the account. Read more on how to find the best travel cards with no foreign transaction fees
• Not all prepaid cards support a broad range of currencies - check the currencies you need are covered
• Prepaid cards aren’t always accepted for things like paying security deposits - so it’s safest to have a credit card as well

Who is a prepaid debit card for?

A prepaid debit card is handy for many different customer needs. For example, you may choose a prepaid debit card in the following situations:

• You’re planning travel and want to set your budget in advance with no chance of accidentally overspending
• You want to be able to hold and exchange a selection of foreign currencies all in the same account
• You want to increase security by using a payment card that’s not linked to your main everyday account when you travel
• Some cards also offer other perks like ways to receive foreign currency payments conveniently, or cashback 

How can I get a prepaid travel card?

Different prepaid cards have their own order and activation processes. However, to comply with local and international law, providers will usually need to see some ID before you’re able to get a card - this verification step may be available online by uploading images of your paperwork, or in person by visiting a branch. 

Here’s an outline of the basic steps you’ll take to get a prepaid travel card:

• Pick the right card for your needs
• Visit the provider’s website or app - or call into a branch if you’d prefer a face to face service
• Complete a travel card order from, which will include your personal information
• Get verified - usually this involves showing or uploading ID like a passport or driving licence
• Add money to your card, which could be in cash, with a bank card, or by bank transfer
• You can now get your card, and manage your account online or in the app

If you’re ordering a card in person you’ll be able to start using it right away. If you’ve ordered online for delivery, you’ll need to wait a few days, to a couple of weeks, depending on the provider you’ve picked, for your card to be available. You might be able to access virtual card details in the meantime, to start spending right away.

How to choose a prepaid debit card

There are many different prepaid debit cards on the Australian market - so picking the best one for you will require a bit of research. Starting with this guide, compare a few different prepaid debit cards based on features and fees. Here are a few pointers to think about:

• Make sure you know about any opening or card delivery fee which will apply once you order your card
• Check how long it’ll take to get your card if you’re ordering online for home delivery
• Make sure the card you pick can hold a broad selection of currencies, so you can use it for more than one trip away
• Check the fees for adding funds, making ATM withdrawals and converting currencies
• Look to see if there are any account close, cash out or dormancy fees that apply once you stop using the card
• Make sure the card is well rated by other users, and from a trustworthy provider

Where can I get a prepaid debit card?

Generally you can order your prepaid debit card online or by downloading your preferred provider’s app. Some cards, like the Auspost card, can also be collected in physical branch locations.

FAQ - 6 Best Prepaid Travel Cards

Are prepaid cards free.

Prepaid cards may be free to order, or you may pay a small one time fee, depending on the provider and card you pick. Once you have your card you may also pay transaction fees such as exchange rate markups when you switch currencies, and ATM withdrawal charges. Read the card’s terms and conditions carefully so you’re aware of the costs involved.

What are the best prepaid debit cards for international travel?

There’s no single best prepaid debit card - it’ll come down to your personal preferences, where you’re travelling, and the type of transaction you need to make. Pick a prepaid card which is easy to use, which supports the currency you need, and which offers a good balance of low fees and good exchange rates.

What is the best reloadable prepaid card?

There’s no single best reloadable prepaid debit card. Use this guide to compare a few options to pick the one that’s right for you, thinking about features, fees and the range of supported currencies you’ll need.

Should I use a Mastercard or Visa for overseas?

Both Visa and Mastercard are very broadly accepted globally. It’s often a good idea to have a prepaid, debit or credit card on each of these networks, so you’ll always have a backup if for some reason one network isn’t available wherever in the world you are.

Are prepaid currency cards worth it?

Picking the right prepaid currency card can help you save money on currency exchange and access low fee international transaction services. You might also get extra perks like easy ways to lock in exchange rates in advance, so you can get a good deal and fix your travel budget before you go away.

Your currency knowledge centre

5 Best Debit Cards for Australians Travelling Overseas

Travel debit cards are a good alternative to carrying cash. They also offer the convenience of a credit card, but work differently. Here is a list of the 5 best travel debit cards you can take with you on your travels and the positives and negatives for each one.

• Read more ⟶

Wise Debit Card Review

The Wise Debit card give customers an easy way to spend their balances in multiple countries. With interbank rates and low fees, this product is available in Australia for both personal and business customers.

8 Travel Traps to Avoid If You're Heading to Europe

To help you avoid spending money unnecessarily, here are some pretty important travel money traps you want to avoid if you travel to Europe.

Australia Post Travel Card 4+

Australia Post

• #107 in Finance
• 4.3 • 1.4K Ratings

Screenshots

Description.

Up to 11 currencies on one card. The Australia Post Travel Platinum Mastercard is a reloadable, multi-currency prepaid card – the easy, secure way to manage your money overseas. Here’s how: - Our Travel Mastercard is more secure than carrying cash - It’s accepted in millions of places (use wherever Mastercard is accepted) It allows you to load multiple currencies - It gives you the ability to lock-in exchange rates so you’ll know exactly how much money you have to spend - 24/7 Global & Emergency Cash Assistance - Three months of free global Wi-Fi with every AUD $100 top-up Terms & Conditions apply, for more information visit auspost.com.au/travelcard Key features of the app: - Touch ID for fast and secure sign in on selected devices - Real-time view of your balance(s) - Instantly transfer between currencies - Monitor your transactions and spending - Manage your personal and card details To find out more about our Travel Mastercard, visit auspost.com.au/travelcard

Version 5.0.0

•Improved in app add money capability •Time zone reference added in transaction history details •Minor Improvements and bug fixes

Ratings and Reviews

1.4K Ratings

Australia Post Travel Card

I used this recently when travelling through Europe and UK. Found it extremely valuable as I used it as my main card out and about. I kept my main Mastercard secured at my main base and travelled knowing I could top it up easily, withdraw and use widely. It was a great relief knowing I could keep good tabs on my account and controlled spending without using putting my main cards at risk of loss or fraud when overseas. I would highly recommend it. My only criticism is it doesn’t allow you to change the pin if you felt it may have been compromised.

Extremely difficult to get support

This card was super useful at the beginning of my overseas trip, payments were easy and tap function always worked, but when trying to top up my currency I’ve encountered an error message that rejects my payments. I’ve tried to get support via email and was told after 3 days that because my request involved sensitive personal information I would have to try the online chat or call Aus Post directly. The online chat only asked questions/gave answers about packages, not the travel cards. Then I tried to call the overseas phone line, which told me it was closed. Fortunately I have other (though limited) payment options right now, otherwise I’d be in a huge amount of trouble having no way to top up my main method of payment. The app had been good so far, but it just seems like I have very limited options to get support to find out if this is an app issue or something specifically with my account.

This is the most useless travel card

Took this card overseas and had my method to load money blocked. Called to inquire about the block and they said I had gone over my limit of loads per day. Ok, so I can load in 24 hours? No, you used your method of payment too many times and it’s blocked for 7 days. Ok, you have verified my identity and confirmed I am who I am, can you remove the block? No, the system put the block in place. Ok, but can you, the person remove the block? No the system put the block in place. (Went around in circles for half an hour). Ok so please note this conversation and I would like to speak with a level 2 or 3 technician. Got a call the next day. “Your card was blocked and is now blocked for 7 days. Can I remove it? No. Why are you calling me then? To tell you your card is blocked for 7 days.” Don’t use this card for travel! You will only have issue after issue

App Privacy

The developer, Australia Post , indicated that the app’s privacy practices may include handling of data as described below. For more information, see the developer's privacy policy .

Data Not Collected

The developer does not collect any data from this app.

Privacy practices may vary, for example, based on the features you use or your age. Learn More

Information

• Developer Website
• App Support
• Privacy Policy

More By This Developer

Australia Post Everyday Card

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Australia Post Travel Platinum Mastercard

AUD, USD, NZD, EUR, GBP, SGD, HKD, JPY, CAD, THB, AED

Mozo editorial review Australia Post Travel Platinum Mastercard - last updated: 1 December 2022

• No transaction fees for overseas purchases
• Load up to 10 currencies on the one card
• Access to Mastercard’s global network of ATMs and retailers
• $0 card fee
• $3.50 AUD overseas ATM fee

Mozo snapshot

If you are looking for a convenient travel money option for your next overseas trip the Australia Post Travel Platinum Mastercard could be the perfect companion. Firstly, you can load up to 10 major currencies on the one card, lock in your exchange rate before you travel and know that when you’re on the road you’re not going to be charged high foreign transaction fees.

Key features

The Australia Post Travel Platinum Mastercard is an extremely versatile travel card which can help you to manage your travel budget effectively. 

Unlike most credit and debit cards the AustPost Travel Platinum Mastercard allows you to lock in your exchange rate on up to 10 currencies before you go so you’ll know exactly where your hard-earned vacation money is being spent. Just bear in mind that this only applies to the funds you initially lock in, as subsequent reloads will be subject to an updated exchange rate. 

If you need to put more funds on the card while on the road you’ll be able to do so through the Australia Post Travel Platinum Mastercard app or the Australia Post website where you’ll have a couple of reload options: 

Via bank transfer (free)

Via BPAY (1% if not booking through 'My Account' or the app)

Via debit card ($5 per debit card load transaction)

Travellers also have access to Mastercard’s worldwide network of ATMs and retailers worldwide so there are plenty of options available when it comes to spending. It’s worth remembering that the card does have a $3.50 AUD foreign ATM fee though. 

If something does go wrong overseas you can sleep easy knowing that Australia Post provides 24/7 global emergency assistance at no additional cost, plus they may even arrange for  emergency cash to be made available to you.

Who is it good for

The Australia Post Travel Platinum Mastercard could be a great option for country-hoppers on set budgets, as the card allows travellers to load up on US Dollars, Euros, Pounds, New Zealand Dollars, Thai Baht, Singapore Dollars, Hong Kong Dollars, Japanese Yen, United Arab Emirates Dirhams, Canadian Dollars and Aussie Dollars before you go.

Any catches

This is a travel card best used for overseas travel, not for day to day use in Australia. For domestic ATM withdrawals you’ll be charged 2.95% of the value withdrawn. 

Also watch out for the $10 cash out fee if you’re wanting to take any remaining funds off your card.

Atm withdrawal fee

Minimum load, upper limit, monthly inactivity fee, customer reviews.

This product does not currently have any community reviews. Be the first to write one.

About Mozo’s Editorial Star Ratings

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As a guide, this is how the Editorial Star Ratings should be interpreted:

• 5 stars - a best in class blend of great value and features
• 4 stars - excellent value and features overall
• 3 stars - good value and features overall
• 2 stars - below average, but may be worth considering for some people
• 1 star - well below average

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Australia Post Travel Platinum Mastercard®

A prepaid travel card with 11 currencies to load from, giving you confidence when spending overseas.

• About Australia Post Travel Platinum Mastercard
• Fees & limits
• Get started
• Support & FAQs

The ideal prepaid card for overseas travel

Travel smarter with our Australia Post Travel Platinum Mastercard, a reloadable, multi-currency prepaid card that’s accepted wherever Mastercard is, worldwide 1 . Easily swipe or tap in-store, use online and withdraw money from ATMs 2 .

You could win up to $5000*.

Load between $500 and $5,000 AUD of foreign currency in a single transaction before 31 May 2024 for a chance to win back the value of what you load, up to $5,000! T&Cs apply .

Load up to 11 currencies. Easily switch between USD, EUR, GBP, NZD, THB, CAD, HKD, JPY, SGD, AED and AUD on your travels.

Lock in your exchange rates. Know exactly how much you have to spend online or in-store with locked-in exchange rates 3 .

Travel safely. With no link to your bank account and Mastercard’s Zero Liability 4  protection against fraud and other unauthorised transactions. 

Total control.  Manage and load your prepaid travel money card on the go via    ‘ My Account ’ or the Australia Post Travel Platinum Mastercard app. 

24/7 global assistance. Card lost or stolen? Call for a replacement anytime. You may also be eligible for emergency funds assistance 5 .

Managing your travel money just got easier

Our Australia Post Travel Platinum Mastercard app makes managing your travel money faster and easier. Check your balance, reload in-app, track your spending and switch between currencies.

Mastercard Prepaid Management Services Australia Pty Ltd (ABN 47 145 452 044, AFSL 386837) arranges for the issue of the Australia Post Travel Platinum Mastercard in conjunction with the issuer, EML Payment Solutions Limited ('EML') ABN 30 131 436 532 , AFSL 404131. Australian Postal Corporation (ABN 28 864 970 579, AR No. 338646), the card distributor, acts as an Authorised Representative of Australia Post Services Pty Ltd (ABN 67 002 599 340, AFSL 457551). You should consider the Australia Post Travel Platinum Mastercard Product Disclosure Statement (PDF 248kB)  and Financial Services Guide (PDF 72kB)  before deciding to acquire the product. Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider if it is appropriate for you. Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

View the Target Market Determination (PDF 88kB)  for this product.

If you click on links to Australia Post Travel Platinum Mastercard you will be leaving the Australia Post site and be directed to a third-party site to place your order and complete your purchase. Please see the terms and conditions of the third-party site for further details.

1 The ATMs and POS terminals are not owned or operated by Australia Post, the Issuer or Mastercard Prepaid Management Services and Australia Post, the Issuer and Mastercard Prepaid Management Services are not responsible for ensuring that they will accept the Card

2 Some ATM operators may charge their own fees and set their own limits.

3 Lock in your exchange rates means the exchange rate is locked in for the initial load only. The exchange rates for subsequent reloads will be set at the prevailing exchange rate at the time of the transaction.

4 Further information relating to Zero Liability card protection can be found at the Mastercard website .

5 T&Cs apply. Customers must contact Customer Service to report lost or stolen cards. Emergency cash can be arranged up to the balance of your Australia Post Everyday Mastercard, subject to availability of funds at the approved agent location.

*  Subject to promotion T&Cs (PDF 158kB) and Australia Post Travel Platinum Mastercard terms. Open to new and existing Australia Post Travel Platinum Mastercard cardholders who load a minimum of A$500 equivalent in foreign currency in a single transaction between 1 May 2024 and 31 May 2024. Authorised under ACT Permit No. TP 24/00781, NSW Authority No. TP/02973 and SA Permit No. T24/582.

For a full list of Fees & Limits, refer to the Product Disclosure Statement (PDF 258kB) .

Mastercard Prepaid Management Services Australia Pty Ltd (ABN 47 145 452 044, AFSL 386837) arranges for the issue of the Australia Post Travel Platinum Mastercard in conjunction with the issuer, EML Payment Solutions Limited ('EML') ABN 30 131 436 532 , AFSL 404131. Australian Postal Corporation (ABN 28 864 970 579, AR No. 338646), the card distributor, acts as an Authorised Representative of Australia Post Services Pty Ltd (ABN 67 002 599 340, AFSL 457551). You should consider the Australia Post Travel Platinum Mastercard Product Disclosure Statement (PDF 248kB)  and Financial Services Guide (PDF 72kB)  before deciding to acquire the product. Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider if it is appropriate for you. Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Travel smarter with our prepaid travel money card

Buy your Australia Post Travel Platinum Mastercard® at a participating  Post Office  or online .

Register / Activate

Register  your prepaid travel money card online.

If you purchased your card online, you’ll need to activate it.

Load your card anytime online through ' My Account ', the Australia Post Travel Platinum Mastercard® app or at any participating Post Office .

Use your card wherever Mastercard is accepted 1 .

1 The ATMs and POS terminals are not owned or operated by Australia Post, the Issuer or Mastercard Prepaid Management Services and Australia Post, the Issuer and Mastercard Prepaid Management Services are not responsible for ensuring that they will accept the Card.

More information

• Product Disclosure Statement (PDF 339kB)
• Financial Services Guide (PDF 72kB)
• Target Market Determination (PDF 88kB)

Can't find an answer below? Call Card Services on 1800 549 718  within Australia or +44 207 649 9404  internationally for help 24/7.

If you have a transaction on your card that doesn't seem right, download the  disputed transaction form .

Frequently asked questions

Australia Post acknowledges the Traditional Custodians of the land on which we operate, live and gather as ​a team. We recognise their continuing connection ​to land, water and community. We pay respect to Elders ​past, present and emerging.

Important information

Cash Passport Platinum Travel Money Card

Product Disclosure Statement 

Financial Services Guide

Online Ordering Terms and Conditions

Privacy Policy

Cash Passport purchased online after 14th July 2016

Cash Passport purchased online before 14th July 2016 or in-store

Product Disclosure Statement

Online Ordering Terms and Conditions  

Mastercard Prepaid Management Services Australia Pty Ltd (ABN 47 145 452 044, AFSL 386837) arranges for the issue of the Australia Post Travel Platinum Mastercard® (“Travel Mastercard") in conjunction with the issuer, EML Payment Solutions Limited ('EML') ABN 30 131 436 532 , AFSL 404131 . Australian Postal Corporation (ABN 28 864 970 579, AR No. 338646), the card distributor, acts as an Authorised Representative of Australia Post Services Pty Ltd (ABN 67 002 599 340, AFSL 457551). You should consider the Travel Mastercard Product Disclosure Statement and Financial Services Guide before deciding to acquire the product. The Target Market Determination for this product can be found here auspost.com.au/travelcard . Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider if it is appropriate for you. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

^Pay no foreign transaction fees on purchases when travelling, when you load your Australia Post Travel Platinum Mastercard with USD or EUR currencies supported by the product, and transact in that same currency. 

Before you make a decision to acquire the card, please check auspost.com.au for the latest currencies supported. Lock in your rates means the exchange rate is locked in for the initial load only. The exchange rates for subsequent reloads will be set at the prevailing exchange rate at the time of the transaction. Mastercard Prepaid Management Services Australia Pty Ltd (ABN 47 145 452 044, AFSL 386837) arranges for the issue of the Australia Post Travel Platinum Mastercard in conjunction with the issuer, EML Payment Solutions Limited ('EML') ABN 30 131 436 532 , AFSL 404131. Australian Postal Corporation (ABN 28 864 970 579, AR No. 338646), the card distributor, acts as an Authorised Representative of Australia Post Services Pty Ltd (ABN 67 002 599 340, AFSL 457551). You should consider the Australia Post Travel Platinum Mastercard Product Disclosure Statement and Financial Services Guide before deciding to acquire the product. These can be found together with the Target Market Determination for this product at auspost.com.au . Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider if it is appropriate for you. Terms, conditions and fees apply. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

Mastercard Prepaid Management Services Australia Pty Ltd (ABN 47 145 452 044, AFSL 386837) arranges for the issue of the   Australia Post Travel Platinum Mastercard   in conjunction with the issuer, EML Payment Solutions Limited ('EML') ABN 30 131 436 532 , AFSL 404131. Australian Postal Corporation (ABN 28 864 970 579, AR No. 338646), the card distributor, acts as an Authorised Representative of Australia Post Services Pty Ltd (ABN 67 002 599 340, AFSL 457551). You should consider the   Australia Post Travel Platinum Mastercard   Product Disclosure Statement   and   Financial Services Guide   before deciding to acquire the product. The Target Market Determination for this product can be found   here.  

Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider if it is appropriate for you. Terms, conditions and fees apply. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

Disclosure: Privacy Australia is community-supported. We may earn a commission when you buy a VPN through one of our links. Learn more.

Best Travel Card for Australians

By Will Ellis

When you spend money abroad, the fees can quickly make the trip more expensive, especially when using your regular debit card and bank account. T

here are usually foreign currency fees and additional fees when you withdraw money and the exchange rates, too. Using a travel card can reduce the cost of fees when you use one for spending money outside of Australia.

There are three types of travel cards: prepaid travel money cards, travel reward credit cards, and travel debit cards. In this article, you’ll learn all about travel cards, and we’ll introduce you to the best ones on the market.

Table of Contents:

• What Is a Travel Card
• Travel Cards: Pros and Cons
• 1. Travelex Money Card
• 2. Australia Post Travel Platinum Mastercard
• 3. Qantas Money Travel Money Card
• 4. Wise Travel Money Card
• 5. Revolut Travel Money Card
• 6. HSBC Everyday Global Account Debit Card
• 7. Bankwest Breeze Platinum Credit Card
• 8. ING Orange One Low Rate Credit Card
• 9. 28 Degrees Platinum Mastercard
• The Verdict

What Is a Travel Card? 💳️

A travel card is a card that is specifically to be used when someone is planning to travel outside of their home country. Travel cards allow you to spend money abroad with lower fees than expected with your everyday bank account . Most travel card providers will tell you about the currency conversion fee, interest rates and other fees before you make a transaction so you know exactly how you could spend abroad on fees.

You can use different types of travel cards; each will depend on your spending needs and financial situation. Before diving into the best travel cards on the market, we’ve provided a list of all three types of travel cards.

There are three types of travel cards:

• Prepaid travel card: A prepaid travel card is a card you load money onto. You can use a prepaid card wherever Mastercard is accepted. You can use it like your everyday debit card, but it helps you shop safely and stick to a budget, as you can’t spend more than the balance allows. You can load more than one foreign currency onto the card, so it’s perfect for travelling overseas. You simply need to bank transfer money across to the prepaid debit card.
• Travel debit card: A travel debit card is part of a travel bank account, usually known as a multi-currency account; you can use it just like your everyday bank account, but it’s for travelling. If planning a long trip, you may benefit from opening a travel bank account.
• Travel credit card: Travel credit cards are similar to credit cards you can apply from your main bank provider. However, they usually offer better currency conversion fees and reward you with travel points or perks for using the credit card and repaying the balance on time. Travel credit cards typically require a good or excellent credit score.

Travel Cards: Pros and Cons ➡️

You may be unsure if a travel card is the right option, so we’ve compiled a list of all the pros and cons of using one for travelling overseas.

• Cheaper foreign transaction fees: Travel cards typically have lower foreign currency conversion fees. Plus, you won’t be charged as much as you were if you used your everyday bank account.
• Easy access: You can apply for and access your travel money card online. Most prepaid cards allow you to reload money onto the card via an app on your phone.
• Hold multiple currencies: When you have a travel debit card, you will get a multi-current account, which allows you to hold multiple currencies on one account. You can use this bank account for spending abroad; currency conversion fees are usually the lowest with these types of accounts. Prepaid travel cards also allow you to hold and use multiple currencies on one card.
• Earn reward points: When you use a travel credit card, you can earn reward points when you use the credit card for spending. You can use the points for travel perks, discounts, cheaper flights, and lounge access.
• Helps to budget: With a prepaid card, you can only use the balance as there is no credit option. So, if you’re trying to stay on a budget, it’s easier when there is no temptation of an overdraft or credit balance.
• Locked-in exchange rates: Most prepaid cards have a locked-in exchange rate, so you don’t have to worry about fluctuation of exchange rates when transferring money into a different currency. Some companies may use a live exchange rate; always check with the provider about fees before you use your card abroad.
• Use just like a debit card: A prepaid debit card allows you to spend and pay for things like your regular debit card. If you choose a prepaid debit card, it will be attached to a bank account that works like your everyday account.
• Backup card: Most prepaid card providers will send you a backup card if you lose or damage the first one. They will send you two cards together, so keep one separate from the other for safekeeping so you don’t lose them both together.
• Currency conversion: When you use a travel card overseas, especially a travel debit card, the provider will automatically transfer funds into the currency you’re paying with.
• Potential reload delay: Sometimes, there can be a delay in reloading prepaid cards. To prevent potential delays, try to transfer all the money you need before you travel so you don’t have to worry about it whilst you’re away.
• Travel money card fees: A travel money card has its own fees, such as account fees, reload fees, and inactivity fees. Some travel credit cards have monthly fees.
• ATM fees: Depending on the country you visit, there may be overseas ATM withdrawal fees and which ATM operators are used. Some ATMs charge fees when you withdraw cash, so you should look out for that.

Best Travel Cards: Reviews 🔎️

As there are three types of travel credit cards, we’ve provided a list of the top three of each type so you can pick which card suits your needs the best.

1. Travelex Money Card: Award-Winning Prepaid Travel Card

• Exchange rates: Locked-in exchange rates that vary between foreign currencies
• Currency conversion fees: None
• Loading money fee: Free online AUD load and top-ups
• ATM fees: There are no ATM fees outside of Australia

With the Travelex Money Card, you can load up to 15 currencies onto the card, including AUD, GBP, EUR, UDS, NZD, CAV, TJB, SGB, JPY and HKD. There are no fees for cash withdrawals overseas. However, you may be charged for withdrawals in Australia using this card. The prepaid card is accepted at millions of locations worldwide; look out for the Mastercard logo, and you can use your prepaid card at that location.

There is currently an offer online that offers free online AUS load funds and top-ups. If you apply for a prepaid card in-store, there will be a 1.1% fee of 1% of the transaction amount for adding AUD. However, if you load a foreign currency, the top-ups are free. If your prepaid card is inactive for over 12 months, there will be AU$4 monthly inactivity fees.

The minimum top-up amount is AU$50, and the maximum you can load on initial purchase is AU$5,000 so if you want to add a large sum of money to the card, you will have to do it once you’ve applied for the card and already have funds on it. The maximum balance during any 12 months is AU$75,000.

Benefits of this prepaid card include free Wi-Fi worldwide; you can reduce your data usage without worrying about roaming fees with on-the-go internet access using free Boingo Wi-Fi. If your card is lost or stolen, Travelex offers 24/7 global assistance to help replace the card or provide emergency cash so you’re not stuck without money when travelling. You can also add an optional additional emergency card at checkout.

2. Australia Post Travel Platinum Mastercard: A Low Fee Prepaid Travel Card

• Exchange rates: The exchange rate will vary between each foreign currency
• International transaction fees: None
• Loading money fee: Free for bank transfer, but there is a 1.1% for instore and 1% for BPAY
• ATM fees: $3.50 for international cash withdrawals and 2.95% for domestic cash withdrawals

The Australia Post Travel Platinum Mastercard is a prepaid card that allows you to load with 11 different foreign currencies and easily switch between currencies as you travel. There are fixed exchange rates, but they may vary depending on the currency you’re converting. You can manage and load your prepaid card on the go by accessing your ‘My account’ on the website or using the Australia Post Travel Platinum Mastercard app.

There is no direct link to your bank account, and your prepaid card is Mastercard’s Zero liability protection against fraudulent and unauthorised transactions; you can travel and spend safely without worrying about compromised data or funds.

Benefits include three months of access to millions of Wi-Fi hotspots worldwide when you reload $100 onto your card. You can reload money onto your prepaid card at any Australia Post Branch or online in the app.

3. Qantas Money Travel Money Card: Earn Reward Points With a Prepaid Travel Money Card

• Exchange rates: Locked in
• Currency Conversion fees: 0%
• Loading money fee: Fee-free load options; otherwise, a 0.5% debit card instant load fee
• ATM fees: $1.95

To make the most of a prepaid card, you can earn Qantas points with the Qantas Travel Money Card. You can load up to 10 foreign currencies, lock in exchange rates before you travel, and transfer between currencies.

Using the prepaid card, you earn 1.5 Qantas Points for every AU$1 spent in a foreign currency. You’ll earn 1 Qantas Points for every AU$4 spent in Australian dollars. You can earn double points when you spend with Qantas Frequent Flyer program partners using Qantas Travel Money. If you load over AU$1,500 equivalent of foreign currency by 20 November, you can earn up to 10,000 bonus points. For shopping discounts, you can use your Qantas Points for cheaper travel at select airlines or popular retailers.

If you lose your card or it’s stolen, you can temporarily lock it and access emergency funds while travelling. You’ll also have access to the 24/7 Mastercard Global Support team, who can help you if you have any issues or are seeking help while travelling. You will also receive fraud protection against unauthorised transactions.

4. Wise Travel Money Card: Travel Debit Card and Multi-Currency Account

• Exchange rates: Competitive exchange rate
• Currency conversion fees: From 0.43%, fees vary by currency
• Loading money fee: $2
• ATM fees: 2 free ATM withdrawals per month up to AU$350

With the Wise card and multi-currency account, you can spend and withdraw money in over 40 currencies at a live exchange rate. You can transfer money between banks, use the wise debit card overseas, receive and add money to your account and hold different currencies in one account. It’s free to register for a Wise account.

The wise card works just like your regular debit card, but it’s designed to help make spending money abroad cheaper. The card costs $10, but you also get a free digital card that you can use on your smartphone to spend online, in-store and overseas safely with Apple Pay and Google Pay.

So, while waiting for your debit card to be delivered, you can start spending using your virtual card. There are no markups, monthly or hidden fees; you can spend overseas with the real exchange rate. You’ll know how much each transaction will cost upfront.

The application process is simple; you can create an account and order a card within five minutes. So, if you’re travelling soon, you still have time to order a wise travel debit card. With the account and card, you can manage your finances from the Wise app. On the app, you can freeze and unfreeze your card whenever you want, generate digital cards and get notifications for all your transitions to keep in control of your spending.

5. Revolut Travel Money Card: Low Fee Travel Debit Card

• Exchange rates: Competitive rates
• Loading money fee: No loading fee
• ATM fees: Fee-free for withdrawals up to $350 every 30 days

There are over 30 currencies available with the Revolut Travel Money Card, that you can spend in over 150 currencies. You can spend overseas with one of the best exchange rates globally. With this travel debit card, there are no fees. You simply pay the exchange rate and for any additional cash withdrawals above the free amount with the standard free plan. You can transfer money across borders at low rates, and the transactions are quick to complete no matter where in the world you are.

You can choose the colour of your Revolut travel debit card and even personalise it. With a Revolut account and card, you can create one-use virtual cards to help make shopping online more secure. Additionally, if you want to control your spending whilst travelling, you can set up spending limits and freeze your card immediately if you lose it.

Revolut offers paid plans, but they’re optional. If you want to invest in cryptocurrency and save more globally, you can apply for the Premium account for $9.99 monthly. Additionally, if you want all available benefits, plus earning cashback and getting a metal card, you can pay A$24.99 monthly for the Metal plan. Whatever your budget, you can still benefit from the Revolut debit travel card.

6. HSBC Everyday Global Account Debit Card: Banking for Home and Overseas

• Exchange rates: Competitive real-time exchange rates
• Loading money fee: None
• ATM fees: None for ATMs with a VISA or VISA plus logo

If you’re looking for a bank account that you can use at home and on your travels, the HSBC Everyday Global Account allows you to do fee-free everyday banking across 10 currencies. You don’t need to pay a monthly HSBC ATM or transaction fees. You can switch between 10 currencies seamlessly with the HSBC Mobile Banking App; available currencies are EUR, GBP, AUD, USD HKD, CAD, JPY, NZD, SGD, and CNY (with some restrictions with CNY).

If you’re sending money overseas, there are no HSBC fees for you to worry about. You don’t have to worry about ATM fees either. When you’re in Australia, you can get free cash withdrawals from HSBC ATMs, and when you’re overseas, you have to look out for ATMs with the VISA logo.

You can earn up to 2% cashback for contactless payments under $100, so you can earn money just by using your travel debit card to make purchases when you’re home in Australia. You can use your card with Visa payWave, Apple Pay, and Google Pay.

7. Bankwest Breeze Platinum Credit Card: Complimentary Travel Insurance

• Annual fees: No annual fee for the first year, then $69 yearly
• Interest rates: 12.99% after the introductory period
• Foreign transaction fees: None
• Minimum credit limit: $6,000

If you’re looking for a travel credit card with low-interest rates, consider Bankwest’s Breeze Platinum credit card. You can spend interest-free for the first 55 interest-free days on purchases if the balance is repaid in full and on time, then you’ll only have to pay 12.99%. When using your credit card overseas, there are no foreign transaction fees, so you can spend knowing there won’t be additional fees to pay. You can use the credit card anywhere that accepts Mastercard.

There is no annual fee for the first year; after the first year, there is a $69 annual fee. A perk of the Breeze Platinum card is complimentary overseas travel insurance, interstate flight inconvenience insurance and 90-day purchase security insurance. Additionally, new customers will benefit from a 2% balance transfer fee.

To be eligible for this credit card, you must be a permanent Australian resident over 18 with a regular income of over $15,000.

8. ING Orange One Low Rate Credit Card: No Annual Fee Travel Credit Card

• Annual fees: No annual fee
• Interest rates: 11.99% variable
• Foreign transaction fees: No international transaction fees
• Minimum credit limit: $1,000

The ING Orange One Low Rate credit cards are ideal if you’re concerned about additional fees when spending overseas. There are two Low Rate cards, classic and platinum, to choose from. Both cards have no annual costs, and there are no international transaction fees either.

To benefit from no international transaction fees, you need to make a $1,000 monthly deposit to any of your ING accounts (Super and Orange One accounts not included) and make more than five credit card purchases that are settled each month.

The most significant difference with the cards is credit limits. With the Low Rate Classic, the credit limit ranges from $1,000 to $5,999. The Low Rate Platinum has a credit limit range of $6,000 to $30,000. The interest rate is 11.99%, but if you use instalment plans to pay off your purchases, you can lock in a lower interest rate plus manage your repayments to ensure they’re on time.

To be eligible for this credit card, you will need to be aged 18+, be an Australian citizen, New Zealand or Australian permanent resident, earn $36,000 or more a year, have a good credit rating and have an active Orange Everyday account (or you can open one alongside your credit card application).

9. 28 Degrees Platinum Mastercard: Low Fee Travel Credit Card

• Interest rates: 26.99% after the introductory period

The 28 Degrees Platinum Mastercard has low fees, with no annual fee, no overseas purchase fee, currency conversion fee or foreign transaction fee. So, you can use your card without worrying about payments racking up. With this travel credit card, you get 55 days interest-free on purchases and access to free 24/7 concierge service.

Perks of this credit card include a complimentary Flight Delay Pass and Global Data Roaming. Additionally, you can get a discount on upcoming trips with 10% discounts on selected hotels at Wotif and Expedia when you have your 28 Degree card before 30 September 2024 and when you stay before 31 December 2024. If you lose your card whilst on holiday, 28 Degrees offers worldwide emergency card replacement.

To be eligible for this credit card, you must be 18 years old and over and be a permanent Australian resident.

Leading Travel Cards for Australians: The Verdict 💡️

Using a travel card for your spending abroad can help you stick to a budget, avoiding credit options to reduce debts, and you can use one just like your debit card so you can seamlessly spend whilst on your adventure overseas. You don’t need to meet any specific requirements to get a travel prepaid card, so that you can get one with little to no fuss.

Frequently Asked Questions 📢️

What is the difference between a prepaid travel card and a travel debit card.

A prepaid travel card is a card you load money onto. You can use a prepaid card wherever Mastercard is accepted. You can load more than one foreign currency onto the card and transfer money to the prepaid card. A travel debit card is part of a travel bank account, usually a multi-currency account; you can use it just like your everyday bank account, but it’s for travelling.

What Are the Benefits of Travel Money Cards?

There are many benefits to travel cards, the main benefits include:

• Lower foreign currency conversion fees, as you won’t be charged as much as you were if you used your everyday bank account.
• Most travel cards will allow you to hold multiple currencies, so if you’re travelling to a few different countries with different currencies, you can hold more than one at a time.
• Most prepaid travel cards have a locked-in exchange rate, so you don’t have to worry about fluctuating exchange rates when transferring money into a different currency.

What Fees Are There for Using a Travel Money Card?

The fees involved for a travel money card will depend on the type of travel card you have. In general, a travel money card will have costs for annual or monthly fees, exchange rates, currency conversion fees, interest rates, and international transaction fees. How high the fees are will vary from card type and provider.

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Our Pick Of The Best Prepaid Travel Cards For Australians

The journalists on the editorial team at Forbes Advisor Australia base their research and opinions on objective, independent information-gathering.

When covering investment and personal finance stories, we aim to inform our readers rather than recommend specific financial product or asset classes. While we may highlight certain positives of a financial product or asset class, there is no guarantee that readers will benefit from the product or investment approach and may, in fact, make a loss if they acquire the product or adopt the approach.

To the extent any recommendations or statements of opinion or fact made in a story may constitute financial advice, they constitute general information and not personal financial advice in any form. As such, any recommendations or statements do not take into account the financial circumstances, investment objectives, tax implications, or any specific requirements of readers.

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Updated: Jun 25, 2024, 9:04pm

Reviewed By

With one-third of Australians saving and planning on going overseas in 2024, according to research by NAB Economists , it’s no surprise that a travel card is top of mind for many.

While using your debit or credit card abroad may be the most convenient option, you’ll be hit by hefty charges— from foreign transaction fees, withdrawal fees, and even fees just to check your balance at an ATM.

That’s why prepaid travel cards are a great alternative, especially if you’re savvy about the card you choose, as they offer a convenient way to hold multiple currencies, spend and withdraw money abroad, and perhaps even accrue a few travel perks along the way, such as access to airline lounges.

Let’s unpick Forbes Advisor Australia’s five favourite prepaid travel cards for Aussies travelling abroad in the near future.

Note: The below list represents a selection of our top category picks, as chosen by Forbes Advisor Australia’s editors and journalists. The information provided is purely factual and is not intended to imply any recommendation, opinion, or advice about a financial product. Not every product or provider in the marketplace has been reviewed, and the list below is not intended to be exhaustive nor replace your own research or independent financial advice.

Featured Partner

Wise Personal Card

CashPassport Platinum

Commbank money travel card, our methodology, what is a prepaid travel card, how to choose the right travel card for you, bottom line, frequently asked questions (faqs).

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On Wise’s Secure Website

Card Issue Fee

Number Of Currencies

40+ currencies

Currency Conversion Fee

Depends on the currency and amount; starts at 0.42% of the transaction

10 currencies at a time on the card, with 22 currencies all up

Travelex's independent exchange rate applies at the time of conversion

The Travelex Money Card is a multi-year award winning prepaid travel card, and for good reason. The free card (with free replacements) operates with 22 currencies, allowing for 10 different currencies to be loaded onto the card at once.

It is free to load money onto the card online via the Travelex website or app, and unlike most prepaid travel cards, offers unlimited free ATM withdrawals (although some ATM operators may charge their own fees). You can also withdraw up to $3,000 AUD in cash (or the foreign equivalent) in a 24-hour period.

You can have up to $50,000 on the card, with the initial load needing to be $350 AUD or currency equivalent and any subsequent reloads at a minimum of $50 AUD (or currency equivalent). Over a 12-month period, the balance across all currencies cannot exceed $75,000.

Unfortunately, Travelex charges a $4 AUD monthly inactivity fee and a $10 account closure fee, meaning it may only be valuable to frequent travellers.

• Unlimited free ATM withdrawals
• No card fee or replacement fee
• Award winning card
• Monthly inactivity fee
• Card closure fee
• Limits on card balance

Despite the initial charge for a Wise card, in our opinion, the benefits and savings outweigh the small fee.

With 40 currencies and counting available, Wise can be used in more than 160 countries around the world. This makes it perfect for travellers on around-the-world trips or individuals who travel frequently.

Plus, you can receive local bank details in nine different currencies, meaning you can transfer and receive money straight into these currencies rather than having to receive into your AUD account and transfer to the appropriate currency.

Unfortunately, there are quite a few fees when it comes to the currency conversions and reloading money onto the Wise card, depending on how you choose to complete these reloads. However, they all start at 0.42% of the transaction, and the Wise app will tell you exactly how much you will be charged before you complete a reload, a currency conversion, or a transfer.

To add money to your Wise account, you can choose to pay via manual bank transfer, Apple or Google Pay, PayID, or debit and credit cards. Plus, you can withdraw up to $350 AUD (or the local equivalent) for free from an ATM every month.

Read More: Wise Review

• Local bank account details
• Numerous reload options
• Card issue fee
• Varying currency conversion fees
• Limited free ATM withdrawals per month

$0 (Free Plan)

Depends on the currency and amount

Revolut would be considered Wise’s biggest competitior , with both companies offering a card that allows travellers to add funds for more than 40 currencies and the ability to open local bank accounts.

With Revolut, you must sign-up to a subscription model: the Free Plan, or it’s paid ‘Metal’ and ‘Platinum’ accounts. The paid subscription models cost $99 and $225 respectively and include travel perks, such as airline lounge access. However, this review has focused solely on the Free Plan as that is the most popular choice among Australians.

To order a Revolut free plan card, there is no charge, while replacement cards cost $8.99 AUD; there is  a $0 reload fee from an Australian bank account or debit card. It’s conversion fees depend on the currency, the amount you are converting, and how you choose to reload your money onto your card. Despite not having a specific conversion fee rate across the board, Revolut’s app is user-friendly and you can view the fees up-front.

If withdrawing cash from an ATM, you’ll be charged a fee of 2% after you hit the $350 AUD withdrawal limit in a month.

Read More: Revolut Review

• Can open local bank account
• No fee to reload from Australian account
• ATM withdrawals slugged at 2% above $350 per month
• Varying currency conversion fee
• Subscription model can be costly

11 currencies

The CashPassport Platinum by Mastercard is a great option for Aussies wanting to go abroad, with 11 different currencies available, including Australian and US dollars; the British Pound and the Euro.

There is no fee for the card, and the initial load fee is also waived. However, the minimum reload amount (including the initial load onto the card) must be more than $100 AUD or the currency equivalent.

While abroad, users can reload money onto their card in three different ways: instantaneously via a debit card (with a fee of 0.5% of the amount), bank transfer (which will take one business day), or BPAY (which can take up to two business days).

There are also maximum reload limits:

• $15,000 AUD in any 24 hour period;
• $30,000 AUD in any 7 day period; and
• $50,000 AUD in any 30 day period.

In Australia, you will be charged 2.95% fee at ATMs. When abroad, the fee you will be charged by CashPassport depends entirely on the currency you are withdrawing. For example, withdrawing USD would incur a charge of $US2.50 ($3.75 AUD), while withdrawing Japanese Yen incurs a ¥260.00 ($2.35 AUD) fee.

• No card issue fee
• No initial load fee
• No fee for converting between currencies
• 2.95% fee at domestic ATMs
• ATM fees change depending on the currency
• Minimum and maximum reload limits

13 currencies

CommBank Retail Foreign Exchange Rate applies at the time of the conversion

Commonwealth Bank was the only Big Four bank to make our top list of prepaid travel cards. We like the fact that the CommBank Money Travel Card is free, is available to those aged 14 years and older, and has no initial load nor reload fees.

There are 13 currencies available on the card, with ‘lock-in rates’ also available so you can maintain that conversion rate regardless of how the Australian dollar moves.

However, it is essential that you make sure you have the right currency on your card when making a payment or a withdrawal from an ATM. If you don’t have the currency loaded, or when CommBank needs to automatically transfer funds between currencies on your card to enable the transaction, you will be charged the exchange rate at the time of the conversion plus an additional 3%.

This means if you’re travelling to destinations that don’t take the 13 currencies available, it could end up costing you quite a fair bit in fees. Plus, there are no free ATM withdrawals: you will be charged $3.50 AUD for every withdrawal or the foreign currency equivalent, and the conversion fee if necessary.

Read More: Wise Vs CommBank Travel Money Card Comparison

• No load or reload fees
• Available for 14 years and over
• Ability to lock in conversion rates
• High fees if you don’t have the correct currency on the card
• $3.50 AUD charge for each ATM withdrawal
• Fewer currencies compared to others

To establish the above list, Forbes Advisor Australia conducted independent research of the prepaid travel cards currently available on the market for new customers.

In order to establish our top picks, we considered the following data points:

• The number of currencies available;
• If the card has a card issuing fee or not;
• What the currency conversion fee charge is;
• If there is a charge for loading money onto the card initially, and for subsequent reloads;
• Whether the card will charge for ATM withdrawals, or if it has limits on how much you can withdraw;
• Any other applicable fees and charges to consider; and
• Consumer reviews online via ProductReview.

A prepaid travel card is known by many different names: a foreign currency card, a travel money card, a multi-currency card and more. But regardless of the name, there is a key similarity: these cards allow you to load funds onto a card to then use abroad in different currencies.

The term ‘prepaid’ comes from the fact that they work in a similar manner to a debit card : it’s funds you already have, rather than funds you are borrowing from a bank. You load these funds onto the card from another bank or account, and then you can transfer them between the currencies available on the card. This makes for a helpful budgeting tool , as you can put a set amount of AUD onto the card before you leave for your trip.

Can You Load More Money Onto a Prepaid Travel Card?

The term ‘prepaid’ may make you think that you can’t load extra money onto the card and that once the funds are cleared, that’s it—but this is not the case.

Travel cards allow you to load more funds as needed even while you’re abroad, with different cards offering different ways to facilitate this. Some cards may allow you to add more money via your credit card, while others may only allow reloads from your bank account.

There are also different charges that apply for loading more funds onto the card, depending on which card you choose. Some won’t charge you at all.

There’s no one size fits all when it comes to travel cards—or any type of debit or credit card, for that matter. Instead, you need to consider your financial habits while abroad to choose the best prepaid travel card to suit your holiday.

This includes (but is not limited to):

• Whether it has the currencies you need for the destinations you are visiting;
• If it doesn’t have the currencies, how much it will charge you for ATM withdrawals in a foreign currency, or to complete transactions in that currency;
• How much ATM withdrawals cost in the local currency, and if there are any limits;
• The amount it costs to order the card and whether there are any account keeping fees;
• Whether you are charged each time you load money onto the card or not;
• Any balance limits, such as if you can only add $10,000 AUD onto the card within a month;
• If you can shop online with the card, or anywhere that it may not be accepted; and
• The accessibility of the card and your balance—does it have a user-friendly app?

Benefits of a Travel Card

There are many benefits to having a prepaid travel card. With multiple currencies on offer, it allows you to save money on having to go to a currency exchange store to exchange AUD for the local currency.

This is particularly important in the post-pandemic world, where many places are no longer accepting cash as a form of payment. Thus, having a card that can pay in the local currency and skip foreign transaction fees that your regular debit or credit card would charge can definitely be a blessing.

As previously mentioned, it can also be a helpful way to stick to your budget while abroad by having all of your funds in one place—even if in numerous currencies. Most travel cards will have a smartphone app associated with them, allowing you to view your balances in real time and make sure you aren’t going overboard with your spending.

There are many other benefits to prepaid travel cards but, since all card offerings are different, it’s best to look at the product disclosure statement of the cards you’re considering to see if the benefits suit you. These could include:

• Locked currency conversion rates;
• Complimentary travel insurance;
• Fraud protection;
• Free reloads; and
• Other travel perks.

Should I Use My Bank’s Travel Card?

It can be tempting to simply choose the travel card that the financial institution you already use offers, as quite a few of them do—including the highly ranked CommBank Travel Money Card or the Westpac Worldwide Wallet.

Unfortunately due to the rise of independent bank travel cards, many of the bigger institutions are winding back their offers. The NAB Travel Card was discontinued in November 2020 for new customers, while the ANZ Travel Card closed in October 2022.

If your bank still offers a prepaid travel card option, then the convenience of using a card offered by the bank you are familiar with can be enticing—and may also come with pitfalls. You may be met with high currency conversion fees, limited currencies to load onto the card, ATM withdrawal charges and more.

A key benefit of using your standard bank for your travel card is often that it allows for simultaneous transfers, therefore helping you out if you need to reload your prepaid travel card in a hurry.

With many other cards on the market offering instantaneous transfers, too—without all the hidden charges—it’s definitely worth shopping around and considering a card outside your usual banking habits.

Ultimately, prepaid travel cards are a great investment if you’re going abroad. Yet with so many on the market, it is essential to carry out your own research to decide which would be the best fit for you: whether this is due to the ATM withdrawal charges and fees, the number of currencies available, or the methods of reloading.

Should I have a prepaid travel card or a credit card for travelling?

Taking a prepaid travel card overseas with you is a wise financial move, as having your funds in one spot makes budgeting a breeze. You can also transfer between currencies with ease, and dodge the high interest charges associated with credit cards.

Plus, many credit cards have high currency conversion fees, which could mean you’re spending a lot more than you intend to. However, taking a credit card overseas with you is still also beneficial for many reasons, such as if there’s an emergency that requires more funds than you have on hand or if you have booked your trip using your credit card in order to receive complimentary travel insurance or frequent flyer points.

Of course, there’s no reason you can’t take both away with you: the prepaid travel card for spending, and the credit card in case of emergency.

Related: Our Pick Of The Best Frequent Flyer Credit Cards

Is Wise better than the CommBank Travel Money Card?

Both Wise and the CommBank Travel Money Card are highly ranked by Forbes Advisor Australia, each making our list of the top five prepaid travel cards

While Wise is ranked higher overall due to its many currencies and transparent fees via its app, CommBank Travel Money Card could be more beneficial to those who are travelling to a single-use currency area (such as the United States) due to the ease of transferring from an existing Commonwealth Bank account and the fact that it can be used by those under 18.

You can read more about our comparison between Wise and theCommBank Travel Money Card here.

Does ANZ have a travel card?

No, ANZ closed its dedicated travel card to new customers in 2020 before officially being taken off the market in October 2022.

ANZ said that the decision to close the card was a move to “meet the needs of our customers” following “customer feedback and research conducted” by the bank.

The closure happened during the Covid-19 pandemic when international travel was not taking place, and the rise of neobank offerings became more popular when the borders re-opened and consumers searched for more affordable ways to travel.

Related: How To Save Money In Cost-Of-Living Crisis

Sophie Venz is an experienced editor and features reporter, and has previously worked in the small business and start-up reporting space. Previously the Associate Editor of SmartCompany, Sophie has worked closely with finance experts and columnists around Australia and internationally.

How do travel credit cards work?

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Key takeaways

• A travel credit card offers points or miles for the purchases you make with the card that you can redeem for future travel.
• Travel credit cards come in all shapes and sizes, from co-branded hotel or airline cards to general travel cards that allow points and miles transfers to partner brands.
• In terms of redemption, you'll typically get the most value by redeeming toward travel in your issuer's portal or by transferring rewards to hotel and airline loyalty programs.
• Before applying for a travel card, consider its fees, ongoing rewards structure and first-year welcome bonus opportunity.

Travel credit cards make it easy to earn rewards — usually offered in the form of points or miles — for certain types of purchases. You can typically redeem your travel rewards for the big expenses associated with your next trip such as flights, hotels, car rentals and vacation packages. Some issuers also let you redeem travel rewards for statement credits and other non-travel options.

Some travel credit cards are associated with a specific airline or hotel loyalty program, whereas others let you earn rewards within a credit card’s rewards program . At the end of the day, you’ll want to understand the type of travel rewards your card offers, as well as available redemption options before you sign up.

Regardless of which type of card you choose, becoming a savvy travel rewards credit card holder can help offset travel costs and enhance your overall travel experience.

Types of travel credit cards

No matter your spending habits and rewards preferences, there’s likely a travel credit card that fits. Top travel credit cards include flexible rewards cards and those that are co-branded with another program, such as hotel credit cards and airline credit cards.

Flexible travel credit cards

Hotel credit cards, airline credit cards, how to redeem points and miles.

Once you’ve met the requirements for a hefty welcome offer or earned enough miles to cover your next flight or hotel stay, how do you redeem them? The kind of travel card you have and its respective rewards program determine how you can apply those rewards. If you have a hotel or airline credit card, you can typically only redeem those points with their respective loyalty programs, with a few exceptions. However, there are more ways to redeem flexible travel rewards , like booking through your card issuer’s online travel portal or transferring your points or miles to an issuer’s travel partners.

Redeeming rewards on an issuer’s online portal

Your card issuer will typically have a portal on its website that lists redemption options and points values. Examples of redemption options include statement credits, travel purchases, gift cards and cash back.

Rewards programs typically use a 1 point:1 cent conversion rate, meaning every 100 points or miles is worth $1. Some issuers, like Chase, also offer boosted points values or other perks for travel purchases made through their online portal. To get an idea of how much your points and miles are worth, take a look at Bankrate’s points and miles valuations page for an in-depth look at airline, hotel and credit card program rewards values.

To redeem your rewards on an issuer’s online portal, simply log in to your account and locate the appropriate rewards or travel section.

Redeeming rewards by transferring to a travel partner

Some travel rewards cards let you transfer points or miles to the issuer’s travel partners, which may include frequent flyer programs or hotel loyalty programs. This is often how to get the most value out of your travel rewards.

You can redeem travel rewards by transferring to an eligible travel partner through the issuer’s online portal. Transfer times can range from instantly to a few days — so plan ahead. Note, once you transfer points or miles from an issuer to a travel partner, you won’t be able to transfer them back to the issuer.

After you’ve transferred your points, you can book travel directly through the airline or hotel’s own loyalty program. Your credit card issuer is no longer involved in the process.

Other ways to redeem points and miles

Some credit cards allow you to redeem your points and miles for things like statement credits, cash back, gift cards or other merchandise. This is usually the least valuable way to redeem your points and miles so you’d be better off using them towards travel most times.

What’s the best way to maximize travel rewards?

When you want to make the most of your rewards, there’s no shortage of ways to spend a stockpile of points or miles. But here are some of the best ways to use your travel rewards :

• Book luxury accommodations
• Cover or lower the cost of your next flight
• Reserve a rental car at your destination
• Upgrade a flight or hotel stay

Be sure to check your card issuer’s online portal and travel partners for deals — such as a travel portal redemption bonus or transfer bonus to a specific hotel or airline — to help stretch your rewards further. In many cases, you can also choose to exchange your travel rewards for cash or a statement credit. But keep in mind that doing so usually dilutes the value of those rewards. Once you get the hang of using your travel credit card, you can maximize those rewards on bigger, better travel plans.

In general, the best value for flexible travel rewards will come from transferring them to various loyalty programs. For instance, the Chase Sapphire Preferred® Card’s rewards points are worth 1 cent each when redeemed for cash back, 1.25 cents each when redeemed for travel through the Chase Travel portal and 2 cents each on average when transferred to a travel partner (according to Bankrate’s valuations ).

However, the value you get out of transferring points ultimately depends on how you redeem them. If you transfer 10,000 points from your travel credit card to an airline partner to book a flight that would’ve cost $300 in cash, your points would be worth 3 cents apiece in this case. However, if you used those same points to book a flight worth $100, your points would only be worth 1 cent apiece.

How to maximize your travel rewards

As we’ve mentioned, the best way to redeem points or miles is to transfer your rewards to one of the issuer’s airline or hotel partners and redeem them for accommodations or airline tickets. But making good use of a travel rewards card is about more than just earning and redeeming rewards — it’s also about managing the card itself well.

Whether you’re trying to get the best possible redemption value or want to know which pitfalls to avoid, here are a few tips to help you get the most out of your travel rewards.

Use your card responsibly

The most important rule of using a travel credit card is to always pay your bill on time and in full and never carry a balance if you can help it. To do this, make sure you never charge more than you can afford to pay off each month, and don’t let the prospect of rewards cause you to overspend. Credit card rewards aren’t worthwhile if you’re going into debt or racking up interest charges and fees to get them.

Don’t miss out on a sign-up bonus

Many travel credit cards come with generous sign-up bonuses requiring you to spend a certain amount within the first few months of opening the account. Although these bonuses are often an attractive incentive to apply for a card, make sure the spending requirement is realistic for your budget and travel plans before you choose a travel credit card . You don’t want to end up in debt for the sake of earning extra rewards.

Don’t ignore the card’s fees

Credit card fees don’t directly affect the rewards you earn, but the cost of the fees does affect a card’s overall value to you. Take note of all the fees associated with any card you’re interested in getting.

One of the biggest fees to watch out for with travel credit cards is the annual fee some cards charge. Not all travel cards come with an annual fee, but those that do can range from an approachable $95 to $695 (or more). If you’re interested in a travel card that has an annual fee, be sure that the rewards and benefits will offset the cost. Otherwise, consider our list of the best travel credit cards with no annual fee .

Watch out for foreign transaction fees

Some credit cards charge a foreign transaction fee for purchases made abroad or in a foreign currency. This fee is usually around 3 percent of a purchase, and you’ll pay this fee for every transaction you make overseas. If you travel abroad frequently, you should consider getting a credit card with no foreign transaction fees .

Luckily, many of the best travel rewards cards don’t charge foreign transaction fees, but it’s always a good idea to verify that before applying.

Make sure you have the right card

It’s important to find the right travel card for your needs, which you can do after comparing options and considering all their pros and cons . For example, if you’re partial to a certain airline or hotel chain, a co-branded credit card can offer better rewards rates, discounts and perks related to that specific airline or hotel compared to a generic travel card.

Additionally, pay attention to a travel credit card’s rewards categories. For example, earning points or miles at restaurants won’t deliver a lot of value if you rarely dine out. But if you use services like Lyft or Uber a lot, you may want to look into a card that offers points or miles for rideshares.

How to choose a travel rewards card

Choosing the right travel rewards card is a highly personalized decision. Ultimately your spending habits, goals, finances and credit history will determine which travel card works best for you. This may require some self-reflection and an assessment of your financial situation to find the right travel card. Review these factors in your financial life to get clear on which travel card you need:

• Travel preferences. Do you prefer using one specific airline or hotel chain when you travel? Or would you rather have the freedom to use your points on whichever hotel and flight you choose? For loyalty-based rewards, go for a co-branded travel card. If you prefer flexibility, generic travel cards will give you more options.
• Spending habits. What do you spend the most money on? One of the best ways to choose a travel card is finding one that offers the highest rewards for the categories you spend the most in.
• Welcome offers. You may find welcome offers for travel credit cards where you can earn extra rewards by meeting purchase requirements within a certain timeframe. As long as you’re able to comfortably meet the spending requirements, a bonus offer could be a deciding factor.
• Credit history. Like most credit cards, applying for a travel rewards card means a hard credit check to determine eligibility. If you know where your credit score stands, it’s best to choose travel rewards cards that fit your credit profile to avoid unnecessary denials and credit inquiries. For cards that match your credit, use Bankrate’s CardMatch™ tool .
• Annual fee. There are plenty of travel credit cards with no annual fee if that’s what works for your budget. However, some cards with annual fees are worth it thanks to extra perks and benefits.

Travel rewards cards for beginners

When you’re ready to earn rewards, it’s best to start with a beginner-friendly travel card so you can get the hang of things. Here are our picks for beginner travel rewards credit cards:

• Discover it® Miles . Earn unlimited 1.5X miles on all of your purchases without an annual fee. With a simple rewards structure and a mile-for-mile match on all of the miles you earn at the end of your first year, you’ll find plenty of ways to make the most of this flexible travel rewards card.
• Capital One Venture Rewards Credit Card . Get flexible travel rewards that are easy to use and understand, for a modest $95 annual fee. Earn 2X miles on all purchases and 5X the miles on hotels and rental cars booked through the Capital One Travel portal.
• Bilt Mastercard® . If you want to earn travel rewards by paying your rent, the Bilt Mastercard has you covered. Earn 1X points on rent (up to 100,000 points each year) without any transaction fees, 2X on travel and 3X on dining. Plus you’ll access exclusive benefits on the first of every month as part of Bilt’s monthly “ Rent Day ” promotions.
• Chase Sapphire PreferredⓇ Card . If you’re looking for your first travel credit card, but it’s not your first time using a credit card, the Sapphire Preferred offers tons of cardholder perks and high rewards on travel and everyday categories like dining. For $95 per year, you’ll benefit from a $50 annual hotel credit through the Chase Travel portal, a solid lineup of travel protections and 25% more value when you redeem your points through Chase Travel.

These might not be your forever cards, but they’re a good starting point for learning how travel credit cards work. They’ll also help you get familiar with earning, redeeming and eventually maximizing travel rewards.

The bottom line

Using a travel rewards credit card can help you elevate your travel experiences by earning points or miles from your purchases. When you choose a travel card that aligns with your budget and goals, it can significantly reduce your travel costs or provide perks that enhance your trip. There’s a learning curve to using a travel card, but once you get the hang of it, you may be surprised by how much you can accomplish with your redemptions.

To make sure a travel credit card is ultimately worth it for you , be sure to select a card that rewards you for the type of purchases you make most often or the categories you spend the most in. Ideally, it won’t charge a fee that costs more than you’ll earn in rewards. If you’re ready to jump into the travel rewards lifestyle and start earning points toward your next trip, take a look at the best travel rewards cards to make your decision a little easier.

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