Quick Answer: Is It Better To Use Travel Money Card?

Need to know.

A travel money card can be a convenient tool for frequent travellers.

You then use the card for purchases and cash withdrawals like a debit or credit card.

Travel money cards are best for longer trips, and usually not worth your while if you’re only taking a short trip (use your normal debit card instead)

Should I use a travel money card?

Pre-paid travel money cards may not do you much good if you spend less than about $3000 overseas, since the fees you’ll pay for having and using the card will likely outweigh any overseas ATM or transaction costs you’d incur if you used your regular bank-issued debit or credit card.

Is a travel money card better than cash?

A travel money card – also known as a prepaid travel card, or a currency card – is a popular and convenient form of travel money. It’s also usually considered to be safer than carrying foreign currency in cash – and much more user-friendly than using travellers cheques.

What is the best travel card to use?

Based on the lowest withdrawal fees, reload fees and initial load fees, the best travel money card is Travelex, according to the finder.com.au. It topped its Best Travel Money Card survey for having no ATM fees when it comes to withdrawing money and gives you the most when converting $AU10,000 to US dollars at $7140.

How does a travel money card work?

How does it work? A Travel Money Card is a card that you load foreign currency onto so it can be used overseas to withdraw cash at an ATM, in store, online or over the phone. You can use it in more than 36 million locations worldwide – choose the ‘credit’ option.

What are the benefits of a travel money card?

5 benefits of a travel money card

  • Ability to lock in your exchange rate before travelling.
  • Ability to load multiple foreign currencies on one card.
  • Ability to reload card via your smartphone.
  • Debit card functionality without linking to your bank account.
  • Allows you to carry a minimal amount of cash.

Is it cheaper to use credit card or cash abroad?

Cards can be the cheapest way to pay for things and withdraw money from cash machines abroad, but only if you use the right one. Using your usual credit or debit card might result in expensive overseas fees, so you could save a lot by getting a special ‘travel-friendly’ credit, debit or prepaid card before you go.

Should I use a prepaid travel card?

Why use a prepaid travel card? It’s safer. A prepaid card is similar to having cash on you but it’s safer than carrying around too much or leaving it in your hotel even if it’s in the room safe. This is the main advantage of carrying one of these cards as your money is safe if the card is lost or stolen.

Which prepaid card is best for international travel?

Best Prepaid Cards for Traveling

Unique FeatureBest For
Netspend® Visa® Prepaid CardMoney management tools and a savings accountIndividual travelers
Green Dot 5% Cash Back Visa® Debit Card5% cash back on purchasesUse beyond traveling
FamZoo Prepaid MastercardParental control on accountsTraveling families

How do I withdraw money from my travel card?

To withdraw money from travel card, you need to insert your card into any ATM machine abroard and follow the instruction. It is as simple as withdrawing money from your regular bank card.

How do I transfer money to my travel card?

You can reload straight away in NetBank or the CommBank app when you transfer money from certain CommBank accounts to your Travel Money Card. Enter the Biller Code 113167 then your customer reference number – which is your 16-digit Travel Money Card number. The money may take two to three days to appear on your card.

How do I activate my travel card?

Card activation

You’ll need to activate your travel card before you can use it. When you do this, you’ll get a PIN and a six-digit access code. You can activate it on the Post Office’s website, by SMS or by calling their customer support.