travel money card aus

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 .

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.

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.

• Travel Money Card

Get our best rate on the award winning Travelex Money Card

Buy currency, top up card.

Rate last updated Tuesday, 26 March 2024 2:07:11 PM AEDT. Please note that these are the Travelex online sell rates.

[fromExchangeAmount] [fromCurrencyCode] Australian Dollar

[toExchangeAmount] [toCurrencyCode] [toCurrencyName]

Enter the card number of the Prepaid Card you would like to top up. The number of the Prepaid Card you are topping up must be the Primary Card Number and must have been originally purchased from Travelex.

Card number confirmed

Select the currency you would like to top up to your card

Enter how much you'd like to top up, either in Australian Dollars, or in the foreign currency amount for the currency you have selected.

This section is optional on mobile

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Get Dollars on Us!

Load more, save more with the travelex money card.

• Save up to AUD $240! View all available discounts codes here .
• Available online, in-store, or via the Travelex Money App. Ends 28 April at 11.59pm AEST. T&C Apply.

The Travelex Money Card

Travel Card Exchange Rates & Currencies

Choose your currency, $0 currency conversion fee when spending a currency not on your travel card:.

The below calculator is a handy tool to help you estimate the applicable exchange rate for your transaction 2 :

Spend Calculator

You can use this calculator to see what your spend would look like for your trip. It will help you estimate the applicable exchange rate for your transaction.

• Netherlands
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• Czech Republic

Save with the Travelex Money Card

$0 Eftpos Fees

$0 atm fees 1, $0 currency conversion fees ^, $0 online shopping fees*, $0 free delivery to your home, special offer, load aud on your travelex money card and save when spending in the below currencies.

• Free Online AUD Load and Top-Ups
• $0 International ATM Fees

Features and Benefits

UNLIMITED FREE overseas ATM withdrawals 1

Highly competitive exchange rates

NO fees when you buy online $0 Currency conversion fee ^

24/7 Global Assistance

Convenient Mobile App Download it here

Shop at millions of outlets wherever Mastercard is accepted and on international websites with the local currency

Buy online, collect in-store or get it delivered to your home

5 ☆ outstanding value award winning travel money card

Exclusive offers with Mastercard Priceless TM Cities

No account or membership required

How our Travel Card Works

Order your travel card.

Order your Travelex Money Card online or in-store (passport or driver's license required)

Get your travel card

Free delivery to your home or collect from a Travelex store

Home delivery

Delivered within 1 to 3 days

Download the App

Download the app from the Google Play and Apple App stores

Register for My Account

Simply activate your card by registering your account via the app or online

Manage and check your balance online and on your mobile

Exchange leftover currency

After your trip, exchange leftover money for another currency, transfer into your bank account or withdraw in-store or at an ATM.

Fees and Limits

NO fees online $0 Currency conversion fee ^

Withdraw daily up to AU$3,000 (or currency equivalent)

Maximum Card limit of AU$50,000

Free initial and replacement card

The following fees and limits apply. Fees and limits are subject to variation in accordance with the Terms and Conditions. Unless otherwise specified, all fees will be debited in AU$ Currency

If there are insufficient funds in AU$ Currency to pay such fees, then we will automatically deduct funds from other Currencies in the following order of priority: AU$, US$, EU€, GB£, NZ$, THB, CA$, HK$, JP¥, SG$.

• Online: FREE via travelex.com.au or the Travelex Money App • In-Store: FREE for loads of foreign currency (loads of Australian dollars (AUD) incur a fee of 1.1% of the amount or $15 whichever is greater).

• Online: FREE via travelex.com.au or the Travelex Money App • In-Store: FREE for top-ups of foreign currency (top-ups of AUD incur a fee of 1.1% of the amount or $15 whichever is greater). • BPAY: Top-ups not made via travelex.com.au or the Travelex Money App incur a fee of 1% of the amount. - MasterCard Biller Code: 184416 - Reference No: your 16 digit Travelex Money Card number - Funds will be allocated to your default currency. To check your default currency login to your account.

FREE (note: Some ATM operators may charge their own fees or set their own limits)

• Charged at the start of each month if you have not made any transactions on the card in the previous 12 months
• Unless your card is used again, or reloaded, this fee applies each month until the card is closed or the remaining card balance is less than the inactivity fee.

AU$4.00 per month

• Charged when you close your card or withdraw from your Card Fund. This fee is set and charged by Mastercard Prepaid.
• This is applied when you move your funds from one currency to another currency.

At the then applicable retail foreign exchange rate determined by us. We will notify you of the rate that will apply at the time you allocate your funds from one currency to another.

• Applied when a purchase or ATM withdrawal is conducted in a currency either not loaded or sufficient to complete the transaction and the cost is allocated against the currency/ies used to fund the transaction.

FREE* *The Spend Rate will apply to foreign exchange transactions in accordance with the Terms and Conditions.

AU$350 or currency equivalent AU$100 or currency equivalent

AU$50 or currency equivalent

The maximum amount you can load on the card at the time of the initial online purchase is AU$5,000 equivalent.

to a maximum of $10,050 per single top-up; and to a maximum of $10,050 top-up value over 24hrs; and to a maximum of $20,000 top-up value over 21 days.

AU$3,000 or currency equivalent

AU$15,000 or currency equivalent

Other Important Information

Please read the following information about your Travelex Money Card carefully:

• Your Travelex Money Card does not generate any interest or any other similar return. You do not earn interest on the amount standing to the credit of the Travelex Money Card Fund accessed by the card.
• Although the issuer of the card is an authorised deposit-taking institution in Australia, the Card is not a deposit account with the Issuer.

Important Information about Fees & Limits for loads/top ups made online:

• If you are making a purchase or topping up the Card online via www.travelex.com.au (i) the initial load and top up fee may differ to (but not be greater than) those contained in the “Fees and Limits Table” of this Product Disclosure Statement; and (ii) the limits may differ to those contained in the “Fees and Limits Table” of this Product Disclosure Statement. Travelex may also charge a card surcharge if you pay with a credit or debit card. Please refer to the relevant online terms and conditions available at www.travelex.com.au for details of the applicable fees and limits.
• AU$ cannot be loaded or topped up onto a card online via www.travelex.com.au

Terms & Conditions

Download the travelex travel money app.

Convenience on the go

• Top up your Travelex Money Card
• Check your balance
• Quick touch log in

The app requires Android 5.0 and up or iOS 10.0 or later. Compatible with iPhone, iPad and iPod touch.

Other Ways to Get Foreign Currency

All the easy options to access foreign currencies with travelex.

About Travelex Money Card online and in-store

• Travel Insurance

Discover more of the world with travel insurance by your side

All you need to know getting foreign cash with Travelex

Get foreign cash from an ATM in Australia

About Your Destination

Browse our Destination Guides

Historical Rates

Check out current and historical AUD to FX Travelex rates

Track Currency Rates

Receive an alert when your selected foreign currency has reached your desired rate

• Find a Store

Purchase cash, a Travelex Money Card or transfer money in-store

Travelex Travel Card Currency Information

Travel card faq links.

Getting Started

Using the Card

Topping up the Card

Travelex Money Card FAQ

You can only hold one card in your name at any one time.

Top-up via the Travelex website

Note that you must use your unique reference number when paying or the transfer may be delayed.

Top-up via the Travelex Money App

Move currencies on your card, instantly.

If you have AUD (or any other currency) already loaded on the card, you can move your funds to another currency within the Travelex Money App. Instant top-up!

Top-up in a Travelex store

Direct top-up via bpay:.

Top-ups not made via travelex.com.au or the Travelex Money App incur a fee of 1% of the amount. You must make payment using your own account.

MasterCard Biller Code: 184416 Reference No: your 16 digit Travelex Money Card number

Funds will be allocated to your default currency. To check your default currency login to your account. Top ups will generally take two business days to be processed however may take longer if the payment is not made before 2pm on a business day Australian Eastern Standard Time.

Yes, travel money cards come with a host of advantages that can save you money when travelling. These include the ability to load multiple currencies at a fixed and competitive exchange rate, and the capability to make purchases in-store, online, and at ATMs worldwide with no overseas ATM or withdrawal fees.

• Locking in fixed foreign currency exchange rates and avoiding foreign transaction fees before you travel
• The ability to load multiple currencies onto one card, similar to a travel debit card
• The ability to spend money conveniently and comfortably overseas
• No overseas ATM withdrawal fees
• No fees when making online purchases
• Travel money cards can be ordered online and collected in store next day.
• Just walk in store. Cards purchased and loaded in-store are active and ready-to-use on the spot. We will automatically transfer funds between currencies complete your card transactions.
• Home delivery within 5-7 business days.

Most common questions

The best travel money card for Australians is the one that caters to the currencies available at your destination, removes ATM withdrawal and foreign purchase fees, and has the best exchange rate. The Travelex Money Card is a prepaid travel card and has been awarded the best prepaid travel card by Mozo two years in a row.

A travel money card is a global currency card that allows you to load several foreign currencies into a personal account at a prevailing exchange rate . Like debit and credit cards, a travel money card can be used to make purchases in stores, online, and to withdraw cash at ATMs while travelling. You can buy currencies and add or reload them into your travel money card account via a mobile app whilst abroad.

One of the best ways to use the Travelex Money Card is with the Travelex Money App. The Travelex Money App makes ordering, transferring, and checking currencies quick and simple on your travel card. You can also use the Travelex travel exchange rate tracker to check currencies in real time.

You can order a travel money card online or purchase one directly from a Travelex store. Find a store near you.

The Travelex Money Card is a Mastercard travel card, meaning it is free to make international withdrawals at ATMs displaying the Mastercard acceptance mark. It is also free to obtain cash over the counter and to make online purchases with a travel money card. However, some ATM operators may charge their own withdrawal ATM fees. Be sure to check with the ATM in question prior to making cash withdrawals.

Similar to any bank account, you can withdraw money from your travel money card at ATMs worldwide. When withdrawing cash, select the “credit” option on the ATM machine screen to access funds. You will not be charged credit card fees by selecting this option. If the “credit” option does not work, try selecting “debit” or “savings”. The maximum withdrawal amount is 3,000 Australian dollars each 24 hour period. Bear in mind that some ATMs may also have their own ATM fee, adding a cost to your withdrawal.

The Travelex Money Card is a multi currency card that can be used in most countries around the world. Widely considered the best travel money card for overseas travel, the Travelex Money Card can be used in the US, Europe, Japan, Canada, Hong Kong, Singapore, Japan, New Zealand, and many more countries.

The initial card fee is free, subject to minimum load amounts. Please see the fees and limits section for more information. There are fees associated with the way you use your card e.g. the type of transaction, the currency you use, and when you move currencies on your card. Limits also apply to top up amounts and method of top up. Please see more information on applicable fees and limits section.

Activity on your Travelex Money Card is monitored every day to detect unusual behaviour, and if something is spotted you'll be contacted to check your transactions. There are also things you can do to help keep your travel money secure: • Sign your card as soon as you receive it • Check your transactions regularly and report anything unusual to Card Services immediately • If you print statements from the internet, keep them safe and shred them when you've finished using them • Never give your personal details to someone on the phone • Don't give out your details in response to unsolicited email • Be wary of anyone who asks for common security details like your mother's maiden name, passwords, date of birth, or information about your work • Never give your PIN to anyone, even if they claim to be from your card issuer • Don't let yourself get distracted when using cash machines or point of sale terminals - somebody may be trying to find out your PIN

Mastercard Prepaid Management Services Australia Pty Ltd (ABN 47 145 452 044, AFSL 386 837) arranges for the issue of the Travelex Money Card in conjunction with the issuer, EML Payment Solutions Limited (‘EML’)(ABN 30 131 436 532, AFSL 404131). You should consider the Product Disclosure Statement for the relevant Travelex Money Card and Target Market Determination available at www.travelex.com.au , 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 and the circles design are registered trademarks of Mastercard International Incorporated.

* Transacting via some online merchants may incur a surcharge.

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• Tel.:  1800 440 039
• Email:  [email protected]
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Travel / Travel Money Card

Travel Money Card

Lock in exchange rates and load up to 13 currencies on one account to easily access your money while you’re travelling.

Features & benefits

$0 card issue fee.

Order a Travel Money Card for free in branch or online (search 'Travel Money Card' in the CommBank app or log into NetBank ).

Lock in exchange rates 

Load up to 13 currencies on one card before your trip, so you know how much you have to spend, no matter how the Australian Dollar moves.

Spend anywhere in the world 

Shop online, in-store, or over the phone wherever Visa is accepted, plus get access to Visa ® travel offers .

Easily manage your travel budget

Manage your holiday money and track your spending via the CommBank app or NetBank.

Your purchases, covered

Lost or stolen personal belongings? We may be able to cover the cost to repair or replace them up to 90 days after purchase. 2

Extra card security

Lost, misplaced or stolen card? Lock it and report it in the CommBank app or NetBank. 

• Currency converter

Exchange rates

Load up to 13 currencies on one account

Lock in exchange rates and load up to 13 currencies easily on one account – wherever you are in the world – through NetBank or the CommBank app:  

• United States Dollars (USD)
• Euros (EUR)
• Great British pounds (GBP)
• Australian Dollars (AUD)
• Japanese Yen (JPY)
• New Zealand Dollars (NZD)
• Hong Kong Dollars (HKD)
• Canadian Dollars (CAD)
• Singapore Dollars (SGD)
• Thai Baht (THB)
• Vietnamese Dong (VND)
• Chinese Renminbi (CNY)
• Emirati Dirham (AED)

No load or reload fees

You can load up to 13 currencies on your Travel Money Card with no load or reload fees. The exchange rate is the CommBank Retail Foreign Exchange Rate at the time of the conversion.

When you’re ready to pay for something, we will always try to complete the transaction for the country you are in. Make sure you have enough of the correct currency for the country you’re in on your card to avoid additional fees. If you don’t have enough of the local currency, we’ll use the next available currency instead, so long as there’s enough of it loaded on your card.

If you load multiple currencies on your Travel Money Card, you can  change the order  (the next available currency) anytime online. 

Rates & fees

See all fees and charges

Who can apply

To get your Travel Money Card, you’ll need to:

• Be at least 14 years old;
• Be registered to use NetBank, or register online New to CommBank? Sign up to NetBank at your nearest branch ;
• Provide a valid email address; and
• Have an Australian residential address

How to apply

Before your trip.

• Order a Travel Money Card in the CommBank app (search 'Travel Money Card'),  NetBank , or at your  nearest branch . 
• Load at least AUD 50 or the foreign currency equivalent to get started
• Once you’ve got your card,  activate and set your PIN online  in NetBank, or under Cards in the CommBank app
• Lock-in the exchange rate by  loading currency on your card in NetBank  or the CommBank app

How it works

During your trip.

• The  local currency will be automatically applied  when you pay for something, as long as it’s loaded on your card and you have sufficient funds
• Reload in real time , fee-free if your balance gets low
• Stick to daily transaction limits
• The maximum value of purchases per day is unlimited, however no more than your available balance
• The maximum amount you can withdraw from ATMs per day is AUD 2,500 or the foreign currency equivalent. Keep in mind most ATM operators have a limit on how much you can withdraw from an ATM per transaction
• The maximum amount for over-the-counter withdrawals per day is AUD 2,500 or the foreign currency equivalent.

When you’re home

• Got leftover currency? Exchange it for another currency or back into your CommBank account from  NetBank  or the CommBank app
• Top up  your Travel Money Card (it’s valid for 4 years) in preparation for your next trip
• Donate  your foreign (and local) currency to any CommBank or Bankwest branch and every cent will go to UNICEF
• How to manage your Travel Money Card

You’ve got your new card – here’s how to get the most out of it.

Find detailed info on getting started, loading and reloading currencies, setting a currency order, checking your balance and tracking your spend. Plus, info on Purchase Security Insurance Cover and access to Visa ® travel offers .

Manage your Travel Money Card

Need foreign cash? Have it ready before you travel

If you’re a CommBank customer, you can buy or sell up to 9 foreign currencies at selected CommBank branches in exchange for Australian Dollars.

You can also order foreign cash in over 30 currencies online – even if you’re not a CommBank customer.

Discover Foreign Cash

Planning an overseas trip?

Discover travel tips to help make the most of your European summer holiday.

See travel tips

Emergency support & tools

What to do if you’ve lost your card or it’s stolen.

If you’ve lost your Travel Money Card, or you think it might’ve been stolen, we can have an emergency replacement card sent to you anywhere in the world.

You may also be eligible for an Emergency Cash Advance, giving you access to cash within 24-48 hours (often on the same day).

Call us in an emergency on:

• 1300 660 700  within Australia
• +61 2 9999 3283 from overseas (reverse charges accepted). 

When calling from overseas using your mobile, standard roaming charges may apply. To avoid roaming charges, call the international operator in the country you’re in from a landline and give them our reverse charges number +61 2 9999 3283.

Tools & calculators

• Saving calculator
• Budget planner
• Managing multiple currencies on your Travel Money Card
• Travelling overseas: 10-step money checklist  
• Beginners guide to exchange rates
• Online banking while overseas  
• Planning an overseas holiday

We can help

Your questions answered

Get in touch

Visit your nearest branch

Things you should know

1 The cash withdrawal fee will not apply to cash withdrawals made in Australia.

2  For more information relating to the complimentary Purchase Security Insurance refer to  Travel Money Card Complimentary Insurance Information Booklet (PDF) .

As this advice has been prepared without considering your objectives, financial situation or needs, you should before acting on this advice, consider its appropriateness to your circumstances.  The Product Disclosure Statement and Conditions of Use (PDF)  issued by Commonwealth Bank of Australia ABN 48 123 123 124 for Travel Money Card should be considered before making any decision about this product.  View our Financial Services Guide (PDF) .

To raise a dispute related to your Travel Money Card please complete  this form for transactions (PDF)  or  this form for ATM disputes (PDF) .

Any withdrawal or balance enquiry fee will come from the currency for which you are using your card. If this currency is not loaded on your card, the fee will be taken from the first (or sole) currency loaded on your card. Any SMS balance alert fee will come from the first (or sole) currency loaded on your card.

The target market for this product will be found within the product’s Target Market Determination,  available here .

• Join CHOICE

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.

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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

With a prepaid travel card you’ll 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 on offer 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.

• United States
• United Kingdom

The best travel money cards for Australian travellers

Compare prepaid travel cards, debit cards and credit cards to find the best option for your next overseas trip..

In this guide

Using your debit card overseas

Debit cards with no international transaction fees, best prepaid travel cards to load foreign currency, find a better travel money card, australian travel statistics, 1. new zealand, 2. indonesia.

• 4. The UK, Canary Islands & the Isle of Man

6. Thailand

8. singapore, 10. vietnam.

Travel Money Cards

What you need to know

• The most important features to compare are the foreign transaction fees, exchange rates and usability.
• If you want to withdraw cash, a prepaid travel card or debit card will likely be cheaper than a credit card.
• It is a good idea to have several travel money options in case of loss, damage or theft.

Debit cards allow you to spend the money you have in your bank account, instead of having to pre-load it like a prepaid travel card. There are some debit cards that don't charge any international transaction fees and even some that allow you to hold multiple currencies - like the HSBC Everyday Global Account .

We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.

Learn how we maintain accuracy on our site.

Instead of a debit card, a prepaid card lets you load up on the currency you need before you get there. There are several options for this, but the right one for you will largely depend on the currency you're going to be using.

We've looked at the top 10 most popular travel destinations for Aussies based on the Australian Bureau of Statistics overseas departure and arrivals data and rounded up the most relevant travel cards you could use in each location. From the rolling hills of New Zealand to the bustling streets of China, read on for the travel card tips you'll need for your next holiday.

Australia is a nation of travellers. According to the Australian Bureau of Statistics, there were 8,337,080 resident returns from overseas for the year 2022 - 2023. The most popular reason we travel is for a holiday, and the median trip duration is 15 days.

The land of towering snow-capped mountains, crystal blue lakes and hobbits and elves often tops Australia's list of favourite travel destinations. Conveniently, most Australian prepaid travel cards support New Zealand dollars.

See our New Zealand travel money guide for more tips to help you prep for your trip over the Tasman.

Aussies love the tropical climate, beaches and poolsides of Indonesia. Despite our close proximity to Indonesia and Australia's reputation for frequenting tourist destinations such as Bali, no Australian travel cards currently support Indonesian rupiah.

However, as Visa and Mastercard are accepted in Indonesia, you can still use an Australian travel card when you're there. You can find travel cards that don't charge a currency conversion fee when you spend in an unsupported currency.

Browse our Indonesia travel money guide for more travel money options.

The land of stars and stripes also has a soft spot in the heart of Australian travellers. So, it's probably no surprise that most Australian prepaid cards support US dollars.

See our US guide for the best travel money options for your next trip to the states.

4. The UK, Canary Islands & the Isle of Man

If you're making a Eurotrip to the UK, you'll be glad to know that most Australian prepaid travel cards support the pound sterling.

Use our UK travel guide for everything you need to plan your next trip to the UK.

The Indian rupee isn't supported by any Australian travel cards. So, if you're travelling to the hustle and bustle of India, you might want to look for travel cards that don't charge any currency conversion fees when spending in an unsupported currency.

Thailand is a popular holiday destination for many Aussies seeking sunshine and rich culture, so it's lucky that quite a few Australian travel cards support the Thai baht.

Use our Thailand travel money guide to research more travel money options for your trip.

While the white sands and crystal blue waters of Fiji are a favourite for Aussie travellers, no prepaid travel cards currently support the Fijian dollar. However, as Mastercard and Visa are widely accepted in Fiji, there are still a few options available for holidaymakers drawn to this island oasis.

See our Fiji guide for more travel money tips and tricks.

If you're taking a trip to the Garden City, there are a few travel card options to choose from.

You can find more travel money options for your trip to Singapore with this guide .

Whether you want to bask in the beauty of cherry blossom season or tear up the snowy slopes, there are plenty of travel card options if you're planning a trip to Japan.

See our Japan guide for more travel money tips for your next holiday.

A land of beautiful beaches, Buddhist pagodas and bustling cities, Vietnam makes the list of Australia's most popular travel destination. If you're planning a trip and want to spend in Vietnamese dong, there are travel card options to choose from.

You can find more travel money options for your trip to Vietnam with this guide .

While there's no single best travel money card out there, it's easier to narrow down your search when you know which cards support the local currency you'll be spending in on your trip. Once you've done this, look for any issue fees, ATM withdrawal fees and loading costs to help compare your travel money options and pick the right travel card companion for you.

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Sally McMullen

Sally McMullen was a creative content producer at Finder. Sally wrote about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

More guides on Finder

The Wise Travel Money Card supports over 40 currencies, with free loading by bank transfer and an instant, virtual card. Here’s how its other features compare.

Revolut offers virtual and physical Visa cards, support for over 30 currencies and other travel perks – plus 3-month Premium trial with this offer.

Use finder's interactive world map to learn about variations in beer prices globally. Find out where in the world you'd pay a whopping $15.10 for a pint.

Discover the travel money options available for young people and how to prepare for a trip overseas.

Want to avoid fees and charges when using your card overseas? This guide explains the most common pitfalls when using travel cards.

This guide explains how you can get back any leftover funds from your travel money card after your trip.

Use this guide to understand foreign currency exchange and discover how to get the best deal.

Spend in up to 13 major currencies, lock in exchange rates and manage your account with the CommBank app when you use the Commonwealth Bank Travel Money Card.

Spend in 11 currencies wherever Mastercard is accepted and save on currency conversion fees with the Cash Passport Platinum Mastercard.

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11 Responses

I am going on a cruise with stops in India, Singapore, Dubai and Sri Lanka. Apart from getting cash what is the best way to take money there? I will only be in Sri Lanka for one day.

Hello there Ian,

Thank you for your inquiry.

Like the page you’re on, you have travel card alternatives for Singapore and India. However, India does not support Australian travel cards, but rather you can look at your travel card choices that don’t charge currency conversion fees.

In Dubai, you may begin looking at your travel card .

In Sri Lanka, Their Government has tight control over the national money and there are strict points of confinement on the measure of rupees you can get in and out of the nation. Aside from cash, you may look at your prepaid travel cards, debit or credit card choices on our page for Travel guide in Sri Lanka.

You may likewise jump at the chance to consider a Debit Card or Credit Card with low or no currency conversion fees.

I hope this information helped.

Cheers, Asia

Travelling to Mexico and Cuba and don’t know whether there is any card better than a Westpac Global Currency Card all things considered.

Thank you for visiting Finder.

For options in getting the most suitable travel money card for you, you may want to visit our travel money option for Mexico as well as our travel money guide for Cuba . From there you may compare cards and select which one would suit your needs. Once you have chosen a particular card, you may then click on the “Go to site” button and you will be redirected to the bank’s website where you can proceed with your application or get in touch with their representatives for further assistance.

Please ensure you review the relevant Product Disclosure Statements/Terms and Conditions before applying.

Cheers, Joanne

What about Peruvian Soles? Or Chilean Pesos? Do I have to put in USD first?

Thanks for your question.

Currently, prepaid travel money cards do not support the currencies of South American countries. You would have to load them with Australian dollars and withdraw the local currencies such as nuevo sol and peso. However, this will attract overseas ATM fees and currency conversion fees.

If you wish to avoid these fees you can use debit or credit cards. Moreover, you can consider a travel card with no currency conversion fees. Check out our Travel Money Guide to Peru to compare your options. You may also check your travel money options for South America .

Before applying, please ensure that you read through the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

Cheers, Liezl

Travelling to Bali with a Qantas Cash card. I understand I can’t load it with rupiah, however can use it where Mastercard accepted. I’m not clear though on what the currency conversion fee is. Above it says that you can “avoid currency conversion fees when spending Indonesian rupiah with this card.” However you can’t load Rupiah in the card. Can you explain further please?

Hello Jacqui,

The currency conversion fee is when you load Australian dollars on your card and then convert them to Rupiah while you’re traveling in Indonesia. In this case, you are simply converting the currency on a “as per needed basis”, Qantas daily rate for the currency you’re spending in will apply. You can use their currency conversion tool on the website to check the exchange rate daily.

If in case you are interested, please explore different travel money options in Indonesia .

Please take time to download the Product Disclosure Statement of this product to know more about the terminologies and fees associated with use.

Hope this clarifies.

Cheers, Jonathan

What about. Europe comparison for travel cards?

Hi Suzanna,

Thanks for your inquiry.

Here is the page where you can compare Travel Cards for Europe – https://www.finder.com.au/travel-money/europe . It also has a comparison for Travel Credit Cards and Travel Debit Cards.

Hope this information helped.

Cheers, Rench

Hi Suzanne,

You may be interested to check the available option/s for travel cards in Europe on our website. Check that page and you will also find more details about how you use travel money cards in Europe.

I hope this information has helped.

cheers, Harold

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Best travel money cards in 2024.

Travel money cards are essential when travelling overseas.

They allow you to easily make payments whilst travelling overseas. They make paying easier for shops, restaurants, hotels and ATMs.Travel money cards work in a similar way to ATM cards. They use a pin when you purchase goods or services overseas.

In this guide, we have compared travel money cards to help you make the best selection for your next trip.

Best Travel Money Cards:

• Wise Travel Card Best Exchange Rates
• Revolut Best for Low Fees
• Travelex Money Card Best All Rounder
• Bankwest Breeze Platinum Best Travel Credit Card
• Pelikin Student Traveller Card Best Student Card
• HSBC Everyday Global Travel Card Best Travel Card by Bank
• Qantas Travel Money Card Best Reward Benefits

Wise Travel Card - Great Exchange Rates

• 40+ currencies available
• Best exchange rates globally
• One of the lowest conversion fee on the market
• No international transaction fees
• No annual or monthly fees
• Extremely low costs to send money overseas

Wise Travel Card

• Cross currency conversion fees are between 0.24–3.69%. AUD to USD, EUR or GBP was 0.42%, which is one of the lowest on the market
• Free cash withdrawals up to $350 every 30 days. However after that, Wise charge a fixed fee of $1.50 per transaction + 1.75%
• Daily ATM withdrawal is $2,700
• Issue up to 3 virtual cards for temporary usage
• It takes between 7 to 14 business days to receive your card
• Can be used wherever MasterCard is accepted

The Wise Travel Card is great for frequent travellers as it offers over 40 currencies at the inter-market exchange rate, which is the cheapest rate globally. In addition you can buy goods online from overseas with no transaction fee plus get the best exchange rate. However if you use ATMs frequently this is not the card to use due to the fees. Finally Wise Travel Card lets you transfer money to an overseas bank account with extremely low fees and the best exchange rate.

Our Wise Travel Card Review

Revolut - Low Fees

• 30+ currencies available
• One of the best exchange rates globally
• No annual or monthly fees for standard membership
• No initial card fee
• Instant access to a range of cryptocurrencies

Read our Revolut Card Review

Revolut Travel Card

• No fee ATM withdrawals up to A$350, or 5 ATM withdrawals, whichever comes first, per rolling 30 day period and 2% of withdrawal amount (minimum charge of A$1.50) after that
• Exchanging currency on the weekend can incur a 1% mark-up fee
• Fees on international money transfers were introduced in April 2021.
• Can be used wherever Visa is accepted

The Revolut Travel Card is a decent option for those who travel a lot as it offers over 30 currencies at a great exchange rate, which is the cheapest rate globally. However if you exchange currency on the weekend you can incur a one-percent mark-up fee. In addition they have introduced fees for international transfers. Finally if you use ATMs frequently this is not the card to use due to the fees.

Travelex Money Card - Best All Rounder

Best features.

• Unlimited free ATM withdrawals
• 24/7 Emergency Assistance
• Initial and replacement card are free
• Lock in up to 10 currencies

Read our Travelex Travel Card Review

Travelex Money Card

• Minimum load of $100 and maximum load of $100,000
• Can be used wherever Mastercard is accepted
• Fees include a $10 closure fee, $5 for an additional card and $4 inactivity monthly fee.
• While Travelex don't charge ATM fees, some ATM operators may charge their own fees.
• Currencies that can be loaded are AU$, US$, EU€, GB£, NZ$, TH฿, CA$, HK$, JP¥, SG$
• If your card is lost or stolen you can access cash in your account through Moneygram or Western Union agents, with no charge
• Boingo hotspots offer free wifi and you can look at their number of free hotspots per country on this map

The Travelex Card is a good all rounder.

You can use it to take money out of the ATM, for merchant purchases like restaurants and even for online shopping in foreign currency. While the exchange rates aren't as good as the Wise or Revolut Card abroad , the support network if the card is lost or stolen is very good.

Bankwest Breeze Platinum Credit Card - Lowest Interest Rate

• Lowest interest rate at 9.90%
• No international transaction fees on purchases
• 0% p.a. on purchases and balance transfers for the first 15 months
• Up to 55 days interest free on purchases
• Low annual fee
• Complimentary international travel insurance

Bankwest Breeze Platinum Credit Card

• Free annual fee first year, then $69 annual fee
• 55 interest free days
• Free international travel insurance that includes the basics but does not cover cancellation costs, pre existing conditions and travellers over 80
• $6,000 minimum credit card
• 0% p.a. on purchases and balance transfers for the first 15 months, then reverts to 9.90%
• 21.99% interest rate on purchases and cash advances
• Cash advance fee of the higher of $4 or 2% of cash advance

The Bankwest Breeze Platinum is a great no frills credit card that offers ‘no foreign transaction fees’ and the lowest interest rate on the market, at 9.90%. These two factors alone will save you hundreds of dollars when travelling overseas.

In addition it has a low annual fee and complimentary international travel insurance. Finally for its price point it is a great value credit card that will be accepted most places around the world.

HSBC Everyday Global Debit Card

• No initial card or closure fees
• No monthly or account fees
• No international ATM fees
• No cross currency conversion fees
• Lock in very competitive exchange rates before travel
• No maximum balance
• Earn 2% cashback

• 10 Currencies can be loaded are AUD, USD, GBP, EUR, HKD, CAD, JPY, NZD, SGD, CNY (currency restrictions apply to CNY)
• Awarded 5 gold stars by CANSTAR in 2021 for Outstanding Value
• Very competitive exchange rates on all currencies when you have currencies already loaded on your card
• ATMs within Australia need to be HSBC and overseas they need to display a VISA or VISA Plus logo, not be be charged fees
• Earn 2% cash back when you tap and pay with Visa pay wave, Apple Pay or Google Pay for purchases under $100. With a maximum of $50 cash back per month. In addition you need to deposit $2,000 or more into your Everyday Global Account each calendar month.
• Daily maximum ATM withdrawal is $2,000
• Fraud protection covered by Visa Zero Liability

The HSBC Everyday Global Debit Card is a good option to take travelling and to spend money in Australia with no international transaction fees, international ATM fees and monthly fees. In addition there is no maximum balance on currencies held and a 2% cash back incentive when you tap and pay under $100.

Finally it is one of the only travel cards that offers Chinese Yuan. To avoid ATM fees you need to find HSBC branches in Australia and only use ATMs overseas with a VISA or VISA Plus logo.

Best Student Card

Pelikin student traveller card.

• Use promo code SMONEY10 for a $10 discount
• Up to 15% off international flights
• A globally accepted virtual student ID card
• 2% cash back on food & drinks, transport and accommodation
• Over 150,000 discounts worldwide

• $30 for 12 months
• 20+ currencies available
• Split bills, pay and get paid instantly

Pelikin is one of the only travel cards in Australia specifically for students. While it has a small annual fee, the range of discounts and offers more than make up for it.

The app is relatively easy to use and card arrives in under a week.

Best Rewards Card

Qantas travel money card.

• No monthly fees, purchase fees and currency conversion fees
• No load fees if you pay by bank transfer or BPay
• Locked in exchange rates: 4%+ margin on exchange rates
• Earn 1.5 Qantas points for every AU$1 spent in foreign currency

• 10 currencies offered USD, GBP, EUR, THB, NZD, SGD, HKD, CAD, JPY, AED
• Free Australia ATM withdrawals
• 0.5% fee debit card reload fee
• ATM fees overseas (USD 1.95; GBP 1.25; EUR 1.50; THB 70; NZD 2.50; SGD 2.50; HKD 15.00; CAD 2.00; JPY 160; AED 6.50)
• Minload of $50 and max of $20,000
• Available to 16 year olds, has a lower age restriction than most credit cards (18 year olds)

Qantas Travel card is a great option to spend foreign currency overseas if you are already a loyal Qantas customer and use your frequent flyer points regularly on flights, accommodation or gifts. The fees are low, the exchange rate is average however the ATM fees are expensive and will easily add up.

Other popular travel money cards

Aside of the Top 5 travel money cards, there are many more options to consider. These include well known brands such as the Commonwealth Bank and Travelex and less known services like Up Bank and Revolut.

Here is a rundown of their best features, fees and available currencies:

• 13 currencies available, including Vietnamese Dong and Chinese Yuan
• No issue fee, load fees, closure and card replacement fees
• Additional card offered
• Can be accessed through Commonwealth Bank app

Commonwealth Bank Travel Money Card

• $3.50 fee at ATMs overseas
• 13 currencies offered USD, GBP, EUR, THB , NZD, SGD, HKD, CAD, JPY, AED, AUD, VND & CNY
• Minload of $1 and max of $100,000
• Available to 14 year olds, has a lower age restriction than most credit cards (18 year olds)
• When you use your card for a purchase or withdrawal in a currency that is not loaded, or when they automatically transfer funds between the currencies on your card to enable the completion of the transaction at the Visa retail exchange rate plus 4%
• To transfer money between currencies or a transaction account, it will be at the bank rate which is normally 4% above the market value

The Commonwealth Bank travel money card is great if you are already a Commonwealth bank customer who banks online and knows exactly how much money in each country you want to spend. However if you need to transfer between currencies or make a purchase in a currency you don't have funds loaded, then you can get an additional expensive charge. Watch how many withdrawals at ATMs you make as well to keep the costs down.

• Exchange rates most competitive for USD, GBP and THB
• No fee on initial card or load (not BPay)
• No fee on reloads via bank transfers
• No monthly or inactivity fees
• Card is valid for 5 years

Travel Money Oz Currency Pass

• 1.1% reloading fee via Travel Money Oz Login or with debit or credit card
• 1% reloading fee for BPay
• $10 closure fee and replacement card fee
• 2.95% on withdrawals from Australian ATMs is expensive
• Roughly $3.50 on withdrawals from overseas ATMs is expensive.
• $3.99 + 5.95% fee on cross currency transactions
• 10 Currencies can be loaded are USD, EUR, GBP, NZD, CAD, HKD, JPY, SGD, THB & AUD
• Exchange rates for SGD and CAD are the least competitive
• Minload of $20 and max of $10,000
• Only 1 card per account
• According to the website they won't take online orders if you are departing within 14 days as the card can take up to 2 weeks for delivery.

The Travel Money Oz travel money card seems to be an outdated version of the Travelex or Australia Post travel card as it does not offer Global Emergency Assistance or Boingo hotspots. However exchange rates and fees are similar to Travelex, so if you are travelling to the US, UK or Thailand, this is a great card to pay for accommodation and things in shops. We would avoid using it at any ATM, to save costs.

• No ATM fees in Australia or internationally
• No minimum monthly deposit
• No account keeping fees
• Can be used in Australia as an EFTPOS card
• Available to 14 year olds and older

Macquarie Travel Card

• $2,000 daily limit for ATM withdrawals
• Simple and easy to work out costs for account
• Exchange rates are MasterCard exchange rates, which are normally 4%+ market rate.
• 90-day theft and damage protection on eligible purchases and stolen wallet protection up to $500
• Can be used in Australia to buy goods overseas and not pay international transaction fees
• Get discounts of up to 10% on eGift cards to use at over 50 leading retailers

The Macquarie Travel Card is a very good option to take overseas for ATM withdrawals as they are all free. In addition in Australia you can buy goods online and not pay an international transaction fee. Furthermore you can use the card like a normal debit card in Australia with no hefty fees or monthly minimum deposits. However the exchange rate is the MasterCard rate which is normally 4%+ above the market rate. Finally we would recommend this card for cash withdrawals at ATMs internationally but not paying for accommodation due to the added margin on the MasterCard exchange rate.

• Cheapest way to send money overseas through a bank
• UI and UX better than traditional banks making it super easy to use
• Competitive savings interest rate

Up Bank Travel Card

• Backed by Bendigo Bank and Adelaide Bank and partnered with Wise so it has financial backing and access to the cheapest exchange rates to send money overseas
• Nifty online tools to help you track spending, budget and save. These include a detailed transaction history often including a company logo, when you paid down to the minute and the suburb where the transaction was made. In addition it has a ‘Regulars feature that detects regular billers and estimate of upcoming bills so you get a heads-up before they are due
• Good savings account interest rates of 1.85% (0.10% base rate plus 1.75% bonus). Bonus interest is easily unlocked after making five successful card or digital wallet purchases each month

The Up Bank Travel Card is aimed at younger markets who are looking to save on bank costs and receive online tools to help them budget and save for their goals. It is also able to be used overseas at any ATM without fees, no international fees and is the cheapest way to send money overseas through a bank due to their partnership with Wise (the largest money transfer company in the world). In addition the exchange rates are Mastercard rates which are normally 4% above interest rates. Finally, while this card is very useful domestically and for ATMs overseas we would not recommend it for big ticket items overseas as it is an expensive card to use.

• No foreign transaction fees
• No fee on initial card, load, unload or inactivity fees
• No cross currency transactions fees
• Lock in exchange rates before you leave
• Exchange rates most competitive for USD, GBP, EUR and CAD and JPY
• No ATM fee at 50,000 Global Alliance ATMs worldwide
• Free additional card
• Flight delay pass

Westpac Travel Money Card

• 11 Currencies can be loaded are USD, EUR, GBP, NZD, CAD, HKD, JPY, SGD, THB, AUD & ZAR
• $2,000 maximum limit on ATM withdrawals overseas within 24 hours
• $50,000 maximum limit on currencies loaded on to travel card
• $3 roughly for ATMs that are not within the Non Westpac Global Alliance
• If you run out of one currency on the card, you can pay with other currencies without the expensive cross currency transaction fee
• No foreign transaction fees, initial card, load, unload or inactivity fees
• According to the Westpac it can take upto 8 business days to receive the travel card
• Secure from fraudulent transactions with Mastercard Zero Liability protection
• 2 cards per account for free

The Westpac Travel Card is a no frills handy travel card with very low fees, no foreign transaction fees, access to some free ATMs worldwide and competitive exchange rates, especially on USD, EUR, GBP, CAD and JPY. In addition it has the South African Rand (ZAR) which is not common in prepaid travel cards. Finally it has access to a flight delay pass in case your flights are delayed and you need to access airport lounges.

• Linked to ANZ Rewards program
• 7 types of insurance for free
• 55 days interest free
• Good security on card purchases

ANZ Travel Adventure Card

• 20.24% interest on purchases and cash advances
• $120 annual fee
• No international transaction fees in person or online
• Offer 7 types of insurance for free
• ANZ Reward points can be used to buy gift cards, swap for Virgin or Singapore airline points or cash into your account.
• Earn 1.5 Reward points per $1 spent on eligible purchases up to $2,000 per statement period
• ATM fees at non ANZ ATMs
• Minimum credit of $6,000

If you utilize rewards points then the ANZ Travel Adventure Card might be suitable for you. Reward points can be used to buy a wide range of gift cards, swap for Virgin or Singapore airline points or cash into your account. In addition no international transaction fees are charged for purchases online or whilst you travel overseas. Finally this card is not recommended for cash withdrawals as the interest rate of 20.24% will eat up any savings.

• No ATM fees
• Can be used in Australia with no additional costs
• No fees for paying via bank transfer or Bpay
• Transfer limits can be set by user

ING Orange Everyday Account Debit Card

• As long as you you deposit at least $1000 and make at least 5 payments each month ING will waive international transaction fees and refund overseas ATM withdrawal fees
• Can be used in all countries
• Works with Apple Pay and Google Pay
• Visa currency conversion rates apply, which are normally 4% above market

The ING Orange Everyday Account Debit Card is a good card for most Australians travelling overseas for ATM access, with no fees. It also allows you to to buy goods online without an international transaction fee.

Furthermore you can use it in Australia for free and there are no fees to get your initial card, for account keeping or to top up your card. A word of caution however, if you travel overseas for longer than 1 month, you still need to deposit at least $1,000 and make at least 5 payments each month to get the rebates.

• Initial card and replacement cards are free
• Increased protection with Mastercard Zero Liability
• Access to cash from your account through the Global Emergency Assistance, if your card is lost or stolen

Australia Post Travel Money Card - Platinum Mastercard

• 1.1% Admin fee for instore loads, including initial load
• $5 fee for reloads via debit bank card
• $10 closure fee
• $3.50 on withdrawals from overseas ATM is expensive
• Currencies that can be loaded are USD, EUR, GBP, NZD, THB, CAD, HKD, JPY, SGD , AED and AUD
• Minload of $100 and max of $100,000
• If your card is lost or stolen you can access cash that is in your account through Moneygram or Western Union agents, with no charge
• Boingo hotspots offer the free wifi and you can look at their number of free hotspots per country on this map

The Australia Post travel money card is a popular option for Australian travellers due to the convenience of stores. However we would recommend the Australia Post travel money card for paying in shops or accommodation as it is costly to withdraw cash from ATMS. As the Australia Post travel money card is fee heavy we recommend not making withdrawals at ATMs or making cross currency transactions to keep additional fees down.

• Up to 11 currencies available
• Manage your account and card online
• 24/7 global assistance
• Access to emergency cash
• Free additional card when ordered at time of purchase
• Can be used at millions of locations worldwide – wherever Mastercard purchase symbol is displayed

Greater Bank Cash Passport Platinum Mastercard

• $5 fee for reloads via debit bank card, FREE reloads via BPAY
• Admin fee of up to the greater of 1.1% of the load/reload amount or $15 for in-store purchases
• Debit card load fee 0.5% of the amount loaded, per Debit Card Load transaction
• Domestic ATM fee 2.95% of value Withdrawn
• International ATM fee USD 2.50, EUR2.50, GBP 2.00,NZD 3.50, THB80.00, CAD 3.50,HKD 18.00, JPY260.00, SGD3.50, AED 10.00, AUD 3.50
• Minimum load of AUD100 and a Maximum of AUD100,000

The Cash Passport is one of the most popular travel cards in the Australian market. With Greater Bank, you can purchase it online and at one of their branches, then download the app or use the website to manage your card. While the card may be useful for international purchases, be mindful when using an ATM both locally or overseas as the fees can add up if you are withdrawing money often.

Learn more about the Cash Passport Platinum Mastercard through Greater Bank .

The best travel card in Australia depends on its use, for ATM withdrawals it is ING Orange , for best exchange rates it is Wise Travel Card, the best credit card is Bankwest Breeze Platinum , for overall best card by a bank its HSBC Global  and the best rewards card is the Qantas Travel card .

A travel money card is safer than cash overseas and if you select a Wise travel card , it is the best exchange rate as well. Most places around the world accept MasterCard or Visa, so you should be able to pay for all your purchases by card.

Yes you can use all travel cards in Australia but you might choose not to due to the fees. ING , Macquarie , Up , Citibank are all good examples of travel money cards that do not charge for ATM withdrawals in Australia. However examples of travel money cards that charge $3.50 per Australian ATM withdrawal include Travelex , Australia Post and Travel Money Oz .

Both if you buy your cash from S Money and pay with a Wise card overseas, as they both use the exchange rate you see online and charge very low fees. However if you buy your foriegn currency at the airport, you are paying top prices so using a card is cheaper.

There are many travel money cards that no longer exist but appear in search engine page results. Travel money cards that no longer exist include 7-11 Just Go, NAB Travel Money Card, Travelex Cash Passport, Australia Post Cash Passport, ANZ Travel Card, Westpac Global Currency Card and the Virgin Velocity Global Wallet program.

Learn more about the best debit, credit and prepaid cards for travel

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The 6 Best Travel Money Cards for Australia 2024

Heading to Australia to kick back on the world famous beaches, soak in the city atmosphere, or explore the open road? Or maybe you’re off for a working holiday, or as a longer term move to live, work, retire or study. In any case, picking up a travel debit, prepaid or credit card can help you manage your money across currencies, and cut the overall costs.

Different travel money cards have their own benefits and drawbacks. Join us as we look through your key travel money card options, and introduce a couple of our favourites from each category so you can see if any suit your preferences and needs.

Wise - our pick for travel debit card for Australia

Wise accounts can hold and exchange 40+ currencies, and you can get a linked Wise card for a one time delivery fee. Top up your account in GBP and switch to AUD before you travel. All currency conversion uses the mid-market exchange rate, with low fees from 0.41%. Here are some of the pros and cons of the Wise travel money debit card, to help you decide if it’s right for you.

Hold and exchange 40+ currencies , including GBP-AUD

No fee to spend any currency you hold, low conversion fees from 0.41%

Mid market exchange rate on all currency conversion

Some fee free ATM withdrawals every month

No ongoing fees and no interest to pay

7 GBP delivery fee

No option to earn points or rewards

Click here to read a full Wise review

What is a travel money card?

A travel money card can help you cut costs whenever you spend in foreign currencies. Travel money cards can be debit or credit cards, but they all offer some international features and benefits such as options to hold a balance in multiple currencies, low or no foreign transaction fees, or cash back or rewards for spending and withdrawals overseas.

Once you’ve picked the travel money card that suits your needs you’ll be able to use it as easily as any other payment card, for in person and online shopping and cash withdrawals. Some cards also offer virtual card options for mobile payments.

What are different types of travel cards?

Travel cards can fall under the following categories. We’ll walk through the features and benefits of each in a moment, so you can see which might work best for your specific needs:

Travel debit cards

Travel prepaid cards

Travel credit cards

Quick summary: Best travel cards for Australia

The right travel card for you might depend on how long you’re spending in Australia and what you’ll be up to while you’re there. To help you weigh up some different options, we’ve included reviews of 2 of our favourite travel money cards from each category to help you choose. Here’s what we’ll be looking at:

Wise travel debit card : Hold 40+ currencies including AUD, with no ongoing fees, and spend with the mid-market exchange rate with no foreign transaction fee and low conversion costs from 0.43%

Revolut travel debit card : Hold 25+ currencies including AUD, in one of 4 different plan types, including some with no monthly fee, and some which comes with ongoing costs but which unlock more benefits and no fee transactions

Post Office travel money card : Hold AUD and 21 other currencies, with no fee to spend a currency you hold - 3% fee applies if you don’t have the currency required in your account

Monese travel money card : Hold a balance in GBP, then spend in AUD with no fees, up to your plan’s limit. Different plans on offer, including Simple which has no ongoing fees to pay

Barclays Rewards Visa travel credit card: Spend with the Visa exchange rate, and earn 0.25% cash back, with no foreign transaction fee and no cash advance fee. Interest and penalties can apply

Halifax Clarity Mastercard travel credit card: No foreign transaction fee, no annual fee, and no cash advance fee if you withdraw money at an ATM. Variable interest and penalties can apply

Travel money cards for Australia compared

Here’s a brief comparison of all the cards we’ve picked out - in a moment we’ll also look at each card in more detail.

When you’re figuring out which travel card suits you it’s worth thinking a bit about how you’ll use your card and account in Australia. If you’re there for work or need to send and receive AUD payments, a card with options to hold and receive Australian dollars - like the Wise card - can be handy.

If you’re looking for a card you can use on this trip and then in future for other holiday destinations make sure you pick one with no ongoing costs so you don’t run up a bill even when you’re not using your card. Finally, travel credit cards might suit you if you need to spread your costs over a few months - but bear in mind that fees and interest can apply in this case, pushing up the price in the end.

Travel Debit Cards for Australia

Travel debit cards can be ordered online from specialist providers, and will usually be linked to a digital multi-currency account. Different card accounts have their own features, but you can usually add money in GBP and then convert to AUD in the provider’s app, or just let the card manage the conversion for you at the point of payment. It’s worth knowing that some travel debit cards come with accounts with a broad suite of AUD functionality, including getting local bank details to get paid in AUD by local transfer. This can be a handy feature if you’re working in Australia, or visiting family and friends who may need to send you money in dollars.

Travel debit card option 1: Wise

There’s no fee to open a personal Wise account , but you’ll pay a one time card order fee of 7 GBP. After that there’s no minimum balance and no monthly charge. Wise accounts can support 40+ currencies for holding and exchange, with low fees from 0.43% when you convert currencies, and transparent ATM fees when you exhaust the monthly free transactions available with your account. Accounts come with local bank details for AUD so you can get paid easily.

No fee to open a personal Wise account, no minimum balance requirement

7 GBP one time fee to get your Wise card

2 withdrawals, to 200 GBP value per month for free, then 0.5 GBP + 1.75%

Hold 40+ currencies, convert between them with the mid-market rate

Get local account details to receive GBP, NZD, EUR, USD and a selection of other major currencies conveniently

Travel debit card option 2: Revolut

Revolut has a selection of different account tiers for personal customers in the UK, including Standard plans with no monthly fee, to the top end Ultra plan which has a 45 GBP/month fee and comes with loads of perks including a fancy platinum plated card. You can hold around 25 currencies, and convert currencies with the mid-market rate to your plan’s allowance. The higher account tiers also come with extras like various different forms of complimentary insurance, discounts, cash back opportunities and travel benefits.

No monthly fee for a Standard Revolut account, or upgrade to one of 4 different account plans which have monthly fees running from 3.99 GBP/month to 45 GBP/month

All accounts have some no fee weekday currency conversion with fair usage fees after that which are 1% for Standard plan holders

Standard plan holders can withdraw 200 GBP overseas per month for free

Hold around 25 currencies

Pros and cons of using debit travel cards in Australia

How much does a travel debit card cost.

Different travel debit card services set their own fees, which can include transaction fees, and monthly costs, depending on the card you pick. Generally, though, because travel debit cards are flexible and allow you to hold a foreign currency balance, you can avoid foreign transaction fees which keeps the overall costs of spending internationally down.

The good news is that you can select the provider and card that works best for you easily. Wise has a one time fee to get your card, but then no monthly charges or minimum balance requirements. Revolut customers in the UK can choose from different account plans, including one with no ongoing charges, or several different account options with a monthly fee in exchange for extra perks and benefits.

How to choose the best travel debit card for Australia?

There’s no single best travel debit card for Australia. Ultimately the decision will come down to personal preferences and spending habits, so you’ll need to compare a few to see which suits your spending and withdrawal needs best.

If you’re only in Australia for a short time and you’re unsure about travel debit cards you could always order a card with no ongoing costs like the Wise card or the Standard Revolut card, to try out whether or not a travel debit card suits you.

Is there a spending limit with a travel debit card in Australia?  

You’ll probably find there’s a spending limit for your travel debit card. However, this limit can vary quite significantly, depending on the provider you pick. You can also usually adjust your spending limits for security in the provider’s app which means you can set the limit you’re comfortable with.

For the providers mentioned above, Revolut UK travel debit card holders have some spending caps based on merchant and transaction type. This applies to things like sending money to others, buying travellers cheques or money orders, and betting. Wise caps monthly card spending at 30,000 GBP but you can also move your limit lower if you’d like to, for security reasons.

ATM withdrawals

ATM withdrawals with a travel debit card are also likely to be subject to limits. Revolut applies a 3,000 GBP limit based on any given 24 hour period. Wise ATM withdrawal limits are 4,000 GBP per month. Both providers allow you to make some no fee ATM withdrawals monthly, but the exact amount you can withdraw will depend on your account type.

Prepaid Travel Cards for Australia

Prepaid travel cards are somewhat similar to travel debit cards but may not have quite the same functionality. You’ll usually still get your prepaid travel card from a non-bank provider like the Post Office or Monese and you can still usually manage your application and account remotely with just your phone if you want to. Prepaid cards can also offer multi-currency balance options, but one key difference is that the range of currencies covered may not be as broad as the range offered by travel debit cards. Let’s look at these options in more detail.

Prepaid travel card option 1: Post Office Travel Money Card

You can order a Post Office Travel Money Card online or pick one up in person at a branch as long as you have a valid ID on you. You’ll be able to top up and hold in 22 currencies, although bear in mind a fee applies if you add money in GBP. There’s no fee to add foreign currencies. The exchange rate used when you top up or convert may include a markup, but once you hold a currency balance in your account you can spend it with no further charges.

AUD and 21 other currencies are supported for holding and exchange

No fee to spend a currency you hold on your card

3% cross border fee if you spend in an unsupported currency

80 THB ATM withdrawal fee

Manage your account and card from the Post Office travel money app

Prepaid travel card option 2: Monese Travel Money Card

Monese offers several different account plans which come with linked cards you can use while overseas. Depending on the plan you pick you’ll get some free international spending and some free ATM withdrawals. Simple account plans have no monthly fees, but are more limited in terms of no-fee transactions compared to the other account tiers. While Monese does offer foreign currency account plans, these are not available in AUD.

• Pick the account plan that suits your needs, including a Simple plan with no monthly costs and some plans which do have a fee to pay every month
• Accounts offered in GBP, EUR and RON
• Simple account plan holders can spend up to 2,000 GBP a month in foreign currencies with no fees - other account plans have unlimited overseas spending with no extra fees
• All accounts have some fee free ATM withdrawals every month, with variable limits based on account plan
• Virtual cards available

Pros and cons of using prepaid travel cards in Australia

How much does a prepaid card cost.

Prepaid travel cards can have some fees, even if it’s free to get your card in the first place - which makes it essential to read the account terms and conditions carefully before you sign up. Among other things, look out for monthly maintenance fees, currency conversion charges, top up costs, and any account dormant fees that may apply. Weighing up a few different prepaid travel cards is the only way to decide which is the best value for your particular needs.

How to choose the best travel prepaid card for Australia?

The best prepaid travel card for Australia depends on your spending patterns. The Post Office Travel Money Card has the advantage that you can convert your money to AUD and see your budget instantly. However if you don’t do this, you might end up paying a 3% fee. Monese has different plan types, so has the flexibility to allow you to pick the one you want - but you can’t hold an AUD balance.

Prepaid travel card spending limit

The Post Office travel card lets you top up to 5,000 GBP at a time, with the maximum balance at any given time set at 10,000 GBP, or 30,000 GBP annually. Monese accounts may have different limits based on the tier you pick - usually set at a maximum holding balance at any time of 40,000 GBP. You may be limited to spending up to 7,000 GBP a day, depending on your account type.

With the Post Office card, you can make up to 17,000 THB maximum daily withdrawals and each withdrawal costs 80 THB. Monese accounts may have a maximum ATM withdrawal of 300 GBP a day, depending on the specific account you pick, so it’s worth reading the fee schedule carefully to understand the details.

Travel credit cards for Australia

If you’re going to be spending with a credit card in Australia anyway it could be worthwhile applying for a specific travel credit card before you go. These cards have been optimised for travel and can offer perks like no foreign transaction fee or more rewards and cash back for overseas spending.

If you pick a card with no annual fee, that can mean that using a travel credit card instead of your regular credit card when you’re away costs you less as you’ll dodge foreign transaction fees while still benefiting from network exchange rates. Bear in mind though that while credit cards can be safe and convenient, interest and penalty costs mean that they’re often more expensive than a debit or prepaid card.

Travel credit card option 1: Barclaycard Rewards Visa 

The Barclaycard Rewards Visa credit card is a good, straightforward option for UK customers looking for a credit card which does not have foreign transaction fees, and which doesn’t have an annual fee. As with any credit card, some costs can apply including interest fees if you don’t clear your bill monthly, but you’ll be able to earn 0.25% cash back on all your card spending at home and abroad.

No annual fee, with 0.25% cash back on card spending

Currency exchange uses the network rate and no foreign transaction fee

No ATM withdrawal fee - but interest can still apply

28.9% representative APR, with penalty fees for late payments

Secure spending with extra protection on some purchases

Travel credit card option 2: Halifax Clarity Mastercard

The Halifax Clarity Mastercard has a variable interest rate which is based on your creditworthiness, but doesn’t use different rates for different transaction types as some cards do. There’s no foreign transaction fee when you spend or withdraw in foreign currencies, but bear in mind that an ATM operator might charge a fee, and interest accrues instantly for cash advance transactions.

No foreign transaction fee when spending or making a cash withdrawal overseas

Interest applies instantly when making cash withdrawals

Same interest rate applies on all purchase categories

Variable APR based on your credit score - you’ll need to check your eligibility online to see the APR you’d be offered

Spending is covered by the Consumer Credit act which means extra protections for purchases from 100 GBP to 30,000 GBP in value

Pros and cons of using credit cards for Australia

How much does a travel credit card cost.

As with any credit card, you may find that you run into fees when you use a travel credit card. While the travel credit cards highlighted above have no annual charge, and no foreign transaction fee, interest applies if you don’t pay your bill in full every month. If you’re late making a payment, penalties can also apply. Consider carefully if using a credit card is right for you to avoid running up unexpected or unmanageable bills.

How to choose the best travel credit card for Australia?

The best travel credit card for Australia depends on your preferences and situation. Because there’s an eligibility screening process with credit cards, you may find you can’t get approved for some cards if you don’t have an established and strong credit history. It’s generally worth looking for a card with no annual fee, and the lowest available interest rate, just in case you can’t always repay your bill monthly.

Travel credit card spending limit

Your travel credit card spending limit will be set by the card provider, and will depend on your credit score. You’ll be shown details of your spending limit when you’re approved for a travel credit card.

The cards we’ve looked at earlier don’t charge a cash advance fee, but this is a common cost when using a credit card at an ATM, so worth looking out for when you select any credit card. It’s also worth noting that it’s very common for ATM withdrawals to start accruing interest instantly, so you’ll end up needing to repay some charges whenever you use your credit card in an ATM.

How much money do I need in Australia?

There’s so much to do in Australia it’s pretty much impossible to suggest a one size fits all budget for your trip. How much you need to spend will depend entirely on what you’re planning on doing, how long you’ll stay and your personal preferences. The good news is that there are plenty of options out there so you should be able to find a budget and itinerary that suits you with a bit of research and planning. Here’s a quick look at some common costs in Australia:

Conclusion: Which travel money card is best for Australia?

You’re not going to end up short of fun things to do in Australia. But lots of activities means you’ll need to figure out the best way to pay for things while you’re there, to avoid unnecessary costs and make your money go further.

Using one or more travel card options can help you manage your travel budget flexibly, and may also mean lower overall costs. However, the right card and account for you will depend on your preferences and whether you need extras like ways to get paid in AUD by others.

Consider a Wise travel debit card if you need ways to pay and get paid in AUD, with the mid-market rate and low fees. Or as an alternative, check out a Monese travel prepaid card for free currency conversion to your specific plan limit, or a travel credit card like the Barclays Rewards Visa for cash back opportunities and ways to spread your costs over several months if you need to.

No matter what type of travel card suits you best, there’s going to be an option for you - use this guide to research and get ready to enjoy that trip of a lifetime to Australia.

FAQ - Best travel cards for Australia

Can you withdraw cash with a credit card in australia.

Yes. You can use your credit card to make an ATM withdrawal at any ATM in Australia where your card network is accepted. However, bear in mind you’ll pay interest instantly when you use a credit card in an ATM. Choosing to withdraw with a low cost travel debit card from Wise or Revolut may bring down your overall fees.

Can I use a debit card in Australia?

Yes. Debit cards are widely supported in Australia, and can be used in many places, although you may struggle at some small independent merchants or at markets. That said, having multiple ways to pay is reassuring, making carrying both a prepaid or travel debit card and some Australian dollars in cash a smart plan.

Are prepaid cards safe?

Yes. Prepaid cards are not linked to your normal UK bank account which means that they’re safe to use. Even if you were unlucky and someone stole your card while you’re in Australia, they would not be able to access your main account - and you could freeze your prepaid card in the app easily if you needed to.

What is the best way to pay in Australia?

Paying for things with a specialist travel debit, prepaid or credit card in Australia is most convenient. However, having a few options for payment is a good plan, just in case your preferred payment method can’t be used for some reason. Consider getting a travel card from a provider like Wise or Revolut, which has some no fee ATM withdrawals so you can also conveniently get cash as a back up, and for when card payments aren’t offered.

You are here

Travel money card, what’s a currency pass.

Our Currency Pass prepaid travel money card is one of our favourite ways to holiday. It makes international travel a breeze – you can:

✔ Load up to ten currencies ✔ Lock in your exchange rate ✔ Access 24hr emergency assist

And without the hidden nasties. The Currency Pass has:

✘ No conversion fees* ✘ No hidden surcharges* ✘ No inactivity fees*

So you can enjoy your grand adventures with peace of mind!

READ BLOG: GET THE MOST OUT OF YOUR CURRENCY PASS

How does the Currency Pass work?

Load up to 10 x currencies

Load USD, EUR, GBP, NZD, CAD, HKD, JPY, SGD, THB & AUD onto your card.

Lock in your exchange rate

Meaning the day you load your currency, your spending money is set at that rate+

Use it globally

Wherever Mastercard is accepted, your card is accepted; including at ATMs.

• Order online

Order Online

Once you're set up online (after an ID check and payment is processed!) you can manage your card, check your balance and transaction history and continue to load spending money all online too. To be safe, we won't take online orders if you're departing within 7 days as the card can take 2-7 days for delivery.

Already have a Currency Card?

If you already have a Travel Money Oz Currency Pass (or Key to the World Currency Card), log in to the Travel Money Oz portal to view your balance, reload and see your transaction history.

Please browse our FAQs .

• *Important Information

Mastercard Prepaid Management Services Australia Pty Ltd (ABN 47 145 452 044, AFSL 386 837) arranges for the issue of the Currency Pass in conjunction with the issuer, EML Payment Solutions Limited ('EML') ABN 30 131 436 532 , AFSL 404131.

You should consider the Product Disclosure Statement for the relevant product available at Travel Money Oz's website and the Target Market Determination available at EML Target Market Determinations 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 and the circles design are registered trademarks of Mastercard International Incorporated.

Exchange rates for initial loads and subsequent reloads made using methods available via Travel Money Oz's website will be set at the prevailing exchange rate set out at Travel Money Oz's website at the time of your request, provided you settle the transaction within four hours. Different exchange rates apply for loads initiated using other methods. If you initiate a load or reload other than via Travel Money Oz's website, the exchange rate applied will be the prevailing exchange rate at the time the payment is processed and the funds are received into your facility. For more information on how exchange rates are set and applied, please see the Product Disclosure Statement .

Tools & Services

Why Travel Money

• Credit cards
• Personal Finance

What Is a Travel Money Card?

How does a travel money card work?

Why use a travel money card, how to compare travel money cards, how to get a travel money card, are travel money cards worth it.

A travel money card, also called a prepaid travel card, is a type of card that can hold foreign currencies. They’re intended for overseas travel, and you can use one to withdraw foreign cash from ATMs and to make purchases in a local currency. 

Think of a travel money card as a debit card that uses local currency. Before you use a travel money card, you’ll preload a set amount of a specific international currency onto the card at the day’s exchange rate. For example, if you’re travelling to Italy and France for two weeks, you’d load Euros (€‎) onto the card and use it instead of your regular debit or credit card during your trip. 

You can continue reloading money onto the card via an app or website as you spend your funds. So, if you blow through your Euros in Rome, you can top off your card’s balance before arriving in Paris. 

Available currencies

The available currencies will depend on the card, but you’ll generally find the following options: 

• United States Dollars (USD)
• Europe Euros (EUR)
• Great British Pounds (GBP)
• Japanese Yen (JPY)
• New Zealand Dollars (NZD)
• Hong Kong Dollars (HKD)
• Canadian Dollars (CAD)
• Singapore Dollars (SGD)
• Thai Baht (THB)
• Vietnamese Dong (VND)
• Chinese Renminbi (CNY)
• Emirati Dirham (AED)

Know that the number of currencies available will also vary. For example: 

• The CommBank Travel Money Card offers 13 currencies.
• The Westpac Travel Money Card has 11 currencies.
• The Qantas Travel Money Card has ten currencies. 

The value of your exchange

The value you exchange currency for will depend on when you load your funds. Rates change from day to day, but you’ll lock in the rate used at the time you exchange currency. So, you’ll know the exact worth of the foreign currency in Australian dollars every time you use your preloaded card. 

On the one hand, a locked-in rate protects you from volatile currencies with fluctuating values. However, if the rate drops, you could be stuck with devalued foreign funds. So, while you can’t predict the future, try to coordinate the load when the exchange rate is most valuable — even if that means waiting a few days. 

• Provides access to multiple currencies. Most options allow you to convert Australian dollars into several different currencies simultaneously. That means you can have secure access to a handful of foreign funds during your next multi-country adventure. 
• Saves on ATM fees. You won’t usually be charged the standard 3% foreign transaction fee on credit cards or pay extra for in-network ATM withdrawals, loading and topping up your card. However, these are just generalisations — each bank or provider will have its own fee structure.
• Exchange rates are locked. You’ll pay for the local currency using the exchange rate available when you load funds, which locks in the rate. Having dependable value for your funds goes a long way for peace of mind, especially when travelling. 
• Fewer risks when lost. Losing a prepaid card while travelling is undoubtedly a hassle. However, a lost or stolen credit card can mean more risks, like thieves potentially accessing your personal banking details and account funds. Since a lost travel money card is unlikely to result in a stolen identity, some travellers find them a safer choice while abroad.
• Helps with budgeting. Trying to keep to preloaded funds may help you stick to a budget while on vacation. Plus, you see the value of money in the local currency, which can help you manage your finances while travelling. 
• May come with rewards and perks. Some travel money cards earn frequent flyer points or come with other special travel perks, like overseas customer service. For example, the Qantas Travel Money Card earns Qantas points, and the Westpac Travel Money Card offers airport lounge access to the cardholder and one companion access when a flight is delayed. 

Disadvantages

• Delays when reloading. If you need to top-up your balance, you may need to wait sometime — up to a few days — before funds are available to use. 
• Other fees. Some travel money cards may levy fees for reloading funds, emergency card replacement, account maintenance, closures, inactivity, etc. For example, Travelex and the Australia Post Travel Platinum Mastercard charge a $10 account closing fee. 
• Limited acceptance. Travel money cards are less common than other payment options, so you may need help using one for all purchases. So, it’s always a good idea to carry emergency cash. 
• May lack the rewards or perks you’re used to. Travel money cards may come with some, but these extras are usually less robust than the offerings on credit cards . 

Before you choose a travel card, consider a few key features. 

One of these is the number of currencies available and the ability to load multiple currencies onto one card. That benefit can help you save and make it easier to manage your money while travelling.

Another thing to look for is reduced or waived fees for loading or reloading funds, account keeping, account closing, and emergency card replacements. Be sure to check for any potential fees when accessing leftover foreign funds you didn’t use on your trip, as there may be an unload fee.

Travel perks are also a great feature to look for, such as airport lounge access or the ability to earn rewards. Digital wallet compatibility can also be helpful, allowing you to use a virtual version of your card.

Of course, security features are also important. Look for a card with a PIN to use at ATMs and the ability to lock the card instantly if lost or stolen.

Finally, options to quickly load or reload funds and notifications when your balance is low can be beneficial. And, since you’re travelling overseas, 24/7 customer support is essential to ensure you have access to help when you need it.

To get a travel money card , you can go through your bank, an airline, a foreign exchange retailer or a payment merchant. For example, Westpac, CommBank, ANZ, NAB, Qantas, Travelex, Mastercard or Australia Post all offer travel money cards. 

How to apply

Prepaid travel card eligibility is comparable to the requirements for a debit card. For example, CommBank requests that cardholders have a minimum age of 14, be registered with NetBank, and provide a valid email and residential address. 

You can apply directly on the provider’s website once you choose your favourite prepaid travel money card. Make sure to submit your application at least a few weeks before your trip in case of delays. 

How to activate

After you receive the card: 

• Download the provider’s app and familiarise yourself with how it works. 
• Register your account.
• Activate the card.
• Convert your money to the chosen currency. You might want to start with a smaller amount for the first part of your trip and reload while overseas or make one big transfer. 

While overseas, you’ll likely alternate between paying in local cash and pulling out your travel card. Your goal is to find the best travel card that allows you to pay for items with minimal fees and maximum protections flexibly. 

The right travel money card supports a stress-free trip, but you don’t have to use one when travelling overseas — your bank card or credit card could also be a suitable option. 

If you’re deciding between a travel money card and a travel credit card , it’s important to understand the differences in how they work. 

• Travel money cards are preloaded with foreign currencies, while travel credit cards spend borrowed money. Travel money cards are generally easier to obtain as they don’t require good credit or income thresholds. With a travel money card, you can withdraw funds from an ATM without incurring interest or cash advance fees . 
• Travel credit cards don’t usually hold foreign currency but offer perks such as international buyer protections, free insurance , airport lounge access and frequent flyer travel points . 

Be sure to consider other important features such as security, reduced fees and travel perks when deciding whether or not a travel money card is worth it for you. 

Frequently asked questions about travel money cards  

Most Australian banks — including Westpac, CommBank, ANZ and NAB — have some travel products, whether a travel money card or a travel credit card. 

About the Author

Amanda Smith is a freelance reporter, journalist, and cultural commentator. She covers culture + society, travel, LGBTQ+, human interest, and business. Amanda has written stories about planning for retirement for…

DIVE EVEN DEEPER

What Is a Rewards Credit Card?

With a rewards credit card, you’ll typically earn a ‘reward’ — usually points — every time you use it, up to a certain limit. Points can be traded for cash or other perks.

What Is a Travel Credit Card?

Using a travel rewards credit card can help you get your next flight on a discount, hotel upgrades, or even cover the full cost of a trip.

Credit Card Cashback: What Is It?

A cashback credit card is a rewards credit card that provides a specific type of benefit for using it — money credited back to your account.

What Is a Frequent Flyer Program Credit Card?

Frequent flyer credit cards earn points or miles that can upgrade your travel and help you score free flights.

Travelex Travel Money Card for Australia

The Travelex Travel Money Card is an award-winning multi currency card that can be used wherever Mastercard is accepted. With no foreign exchange fee ^ and access to dynamic currency conversion, the Travelex Money Card is the ideal card to take with you as you explore OZ.

Able to store multiple currencies at a time (from the Australian dollar, to Canadian dollar, to British pounds), the Travelex Travel Money Card is a convenient card to carry around during your international travels. You can also enjoy fee free cash withdrawals from ATMs with the Travel Money Card 1 , as well as use it similarly to a debit card to make purchases overseas.

Withdraw cash abroad for free 1 , take advantage of great online exchange rates, and enjoy all the benefits of standard prepaid cards with the Travelex Travel Money Card.

The Travelex Money Card stores money in a travel money card account so that you can use AUD in Australia.

Easy Currency Options for your Trip

Features and Benefits: Why a Travelex Money Card?

UNLIMITED FREE overseas ATM withdrawals 2

Highly competitive exchange rates 1

NO fees when you buy online $0 Currency conversion fee ^

24/7 Global Assistance

Convenient Mobile App Download it here

Shop at millions of outlets wherever Mastercard is accepted

Exclusive offers with Mastercard Priceless TM Cities

No account or membership required

How our Travel Card Works

Order your travel card.

Order your Travelex Money Card and Additional Emergency card online or in-store

Get your travel card

Collect from a Travelex store near you

Home delivery

Delivered within 1 to 3 days

Download the App

Download the app from the Google Play and Apple App stores

Register for My Account

Simply activate your card by registering your account via the app or online

Manage and check your balance online and on your mobile

Exchange leftover currency

After your trip, exchange leftover money for another currency, transfer into your bank account or withdraw in-store or at an ATM.

Download the Travelex Travel Money App

Convenience on the go

• Top up your currency wallet
• Move funds between currencies
• Instantly freeze and unfreeze your card
• Reveal your PIN and card details for online shopping

The app requires Android 5.0 and up or iOS 10.0 or later. Compatible with iPhone, iPad and iPod touch.

Fees and limits

NO fees online

Withdraw daily up to NZ$3,000 (or currency equivalent)

Maximum Card limit of NZ$75,000

Free initial and replacement card

NZ$, AU$, US$, GB£, EU€, CA$, HK$, SG$, JP¥ .

*The currencies available may vary from time to time. Before you make a decision to acquire the card, please check with the Distribution Outlet or on this page.

Load/reload in NZD: the greater of 1.0% of the initial load/reload amount or NZD$10.00. Load/reload in other currencies: zero.For example, for a Distribution Outlet charging a 1.0% initial load fee, if you purchase a Travelex Money Card and load NZD$800, you would be charged (NZD$800 x 1.0%=NZD$8), unless a minimum fee of NZD$10 applies.

This fee is set and charged by Mastercard Prepaid Management Services.

FREE Some ATM operators may charge an additional withdrawal fee.

• Charged at the start of each month if you have not made any transactions on the card in the previous 12 months
• Unless your card is used again, or reloaded, this fee applies each month until the card is closed or the remaining card balance is less than the inactivity fee.

NZ$4.00 per month

Charged when you close or Cash Out your Travelex Money Card. This fee is set and charged by MasterCard Prepaid Management Services.

This is applied when you move your funds from one currency to another currency, or when you request a Cash Out to close your Travelex Money Card and you have funds in a foreign currency

At the then applicable retail foreign exchange rate determined by us. This rate reflects MasterCard Prepaid Management Service’s cost price plus a margin determined by MasterCard Prepaid Management Services. We will notify you of the rate that will apply at the time you allocate your funds from one currency to another and this rate (inclusive of the margin) may be less favourable than the foreign exchange rate for Online reloads where you allocate funds in a foreign currency.

Applied when a purchase or ATM withdrawal is conducted in a currency either not loaded or sufficient to complete the transaction and the cost is allocated against the currency/ies used to fund the transaction

MasterCard® rate plus 4.00% of the transaction value. The MasterCard rate is the exchange rate determined by MasterCard to be their wholesale rate or the government mandated rate in effect in the day the transaction is processed by MasterCard.

At the then applicable retail foreign exchange rate determined by us. This rate reflects MasterCard Prepaid Management Services’ cost price plus a margin determined by MasterCard Prepaid Management Services. For online reloads we will notify you of the rate that will apply at the time you book your transaction (further terms and conditions apply and will be provided to you at that time).

• Initial purchase: NZ$250 or currency equivalent
• Top-ups: NZ$100 or currency equivalent

The maximum amount you can load on the card at the time of the initial online purchase is NZ$10,050 equivalent.

(i) to a maximum of NZD10,050.00 per single top-up; and (ii) to a maximum of NZD10,050.00 per top-up within 24hrs; and (iii) to a maximum of NZD20,000.00 top-up within 21 days. NZ$25,000 or currency equivalent

Some ATM operators may set their own withdrawal limits which may be lower than this limit.

NZD$3,000 or currency equivalent

NZD$15,000 or currency equivalent

NZD$75,000 or currency equivalent

Some financial institutions may set their own withdrawal limits which may be lower than this limit.

NZD$400 or currency equivalent

NZD$0.00 (No overdraft facility available)

Fees & Limits

Terms & conditions, travelex travel card currency information, other ways to get foreign currency, all the easy options to access foreign currencies with travelex.

• Travel Money Card

About Travelex Money Card online and in-store

Money Transfer

Transfer money in-store to the world

All you need to know getting foreign cash with Travelex

Get foreign cash from an ATM in New Zealand

Track Foreign Currencies Rate

Receive an alert when your foreign currency has reached your desired rate

Historical Rates

Check out current and historical NZD to FX Travelex rates

• Find a Store

Purchase cash, a Travelex Money Card or conduct a Money Transfer in-store

Buying Tips

Flexible options and tips when ordering with Travelex

• The ability to load multiple currencies at a fixed competitive exchange rate (e.g. New Zealand dollar, Great British Pounds)
• Having the flexibility to make purchases in-store and online
• Enjoying no foreign ATM withdrawal fees

There are many benefits to travel money cards that cash payments can’t provide, making them great to keep around.

Benefits of these prepaid currency cards include:

Yes, you can. You can use the Travelex Travel Money Card to store AUD to use around Australia. The Travelex Travel Money Card works similarly to a prepaid card, except you can buy and store multiple currencies at a time with a prevailing exchange rate ^ . You can also use the Travelex travel exchange rate tracker to keep track of currencies in real-time.

Purchase a Travelex Travel Money Card to use during your time in Australia online or in a Travelex store. Find a store near you.

Go online or find a store near you to purchase your Travelex travel money card.

You can withdraw cash from an ATM with the Travelex Money Card without any additional charges 1 (although some ATM operators may charge their own fees when withdrawing cash). It is also free to obtain cash and make purchases online or in-store with the prepaid travel money card.

The Travelex Travel Money Card is an award-winning global currency card known for its ability to store multiple foreign currencies simultaneously with no monthly fees. It is compatible with all Mastercard payment methods and is a wise travel money card to consider purchasing for your worldly travels.

With the Travelex Travel Money Card, you can make payments by buying currency with your home bank account and avoid an international transaction fee when doing so.

IMPORTANT INFORMATION TO CONSIDER BEFORE CARRYING OUT YOUR TRANSACTION

1. The currencies available in respect of Travelex Money Card may vary from time to time and not all currencies may be available at all times. Before you make a decision to acquire the card, please check the available currencies online or by asking in store.

2. Please be advised that although Travelex does not charge ATM fees, some operators may charge their own fee or set their own limits. Please check with the ATM before using.

3. Wifi is provided by Boingo hotspots

3. A foreign exchange ‘Spend Rate’ rate will apply to foreign exchange transactions in accordance with The Product Disclosure Statement.

3. Transacting via some online merchants may incur a surcharge.

* Lock in your exchange rates mean 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. We will tell you the applicable exchange rate before you confirm your reload transaction on travelex.co.nz. If you wish to make a purse to purse transfer to move funds already on your card to another currency, please log in to my account . If you make a purse to purse transfer, you will receive a different exchange rate to the rate you receive when you load funds directly on to your card. You will be notified of the applicable exchange rate before your confirm your purse to purse transfer and this rate may be less favourable than the rate you receive if you reload your card online at travelex.co.nz. Different exchange rates will apply to reload transactions conducted directly via Bank Transfer or Bill Payment (i.e. without booking an online transaction). For more information, please read the Terms and Conditions .

Travelex Money Card is an unsecured debt security issued by EML Payment Solutions Limited (“Issuer”). Travelex Money Card is not guaranteed by the Issuer or any of its related companies or any other entity. A Product Disclosure Statement is available free of charge from Travelex.co.nz . Information has been prepared without taking into account your objectives, financial situation or needs and you should consider the appropriateness of the information about the Travelex Money Card facility before making any decisions about whether to acquire or continue using the prepaid facility. You should also refer to the Terms and Conditions , Online Ordering Terms and Conditions , Online Prepaid Card Reload Terms and Conditions , and Privacy Policy . Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

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Customer support.

Online Order Queries:

Tel.:  0800 666 391  

(open 24\7, calls may be recorded for training and security purposes)

Email:  [email protected]

• Credit Cards

Our Pick Of The Best Debit 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.

Readers of our stories should not act on any recommendation without first taking appropriate steps to verify the information in the stories consulting their independent financial adviser in order to ascertain whether the recommendation (if any) is appropriate, having regard to their investment objectives, financial situation and particular needs. Providing access to our stories should not be construed as investment advice or a solicitation to buy or sell any security or product, or to engage in or refrain from engaging in any transaction by Forbes Advisor Australia. In comparing various financial products and services, we are unable to compare every provider in the market so our rankings do not constitute a comprehensive review of a particular sector. While we do go to great lengths to ensure our ranking criteria matches the concerns of consumers, we cannot guarantee that every relevant feature of a financial product will be reviewed. We make every effort to provide accurate and up-to-date information. However, Forbes Advisor Australia cannot guarantee the accuracy, completeness or timeliness of this website. Forbes Advisor Australia accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in our stories or any other information made available to a person, nor any obligation to furnish the person with any further information.

Updated: Mar 12, 2024, 1:08pm

Many of us have a payment card in our wallets or linked to our phones, but the type we have can vary between a transactional debit card, a debit card linked to a high-interest account, a credit card, or even a rewards card.

A debit card is among the most popular type of payment card and it’s usually the first card that an Australian will own. It is linked to a specific transaction account, rather than a high-interest savings account . Unlike a high-interest savings account, a transaction account doesn’t always offer interest on your balance—or if it does it is often a very low rate—and there are usually no deposit conditions to keep track of. Instead, the money you have on your debit card is the money you use to spend on everyday items such as groceries, petrol, cafes and shopping.

Debit cards are often a good way to spend within your means, considering you aren’t borrowing money that you don’t have, which is often what happens when you use your credit card.

Forbes Advisor Australia has looked into the best debit cards on the market that are linked with everyday transaction accounts. Here’s what we found.

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. For more information on how Forbes Advisor ranks and reviews products, including how we identified our top category picks, read the methodology selection below.

Featured Partners

Our pick of the best debit cards, macquarie bank transaction account, hsbc everyday global account, up everyday account, nab classic banking.

Wise Personal Account

ANZ Plus Transaction Account

Myboq everyday transaction account, commonwealth bank everyday account smart access, westpac choice transaction account, ing orange everyday card, our methodology, why do debit cards charge account fees, can you earn interest with a debit card, debit cards vs credit cards explained, frequently asked questions (faqs).

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On Wise’s Secure Website

$0 Monthly Account Fees, No Sneaky Transaction Fees.

Take Out Up To 350 AUD in Cash a Month For Free.

Use Google or Apple Pay Straight Away

Monthly Account Fee

Google/apple pay.

The Macquarie Bank Transaction Account is a top-rating debit card, considering it not only charges a $0 monthly account fee–it also allows card holders to earn interest on their balances without any criteria. This is an interest rate of 4.75% for balances up to $250,000, which is quite high for a card without monthly criteria in order to earn the top rate.

The MasterCard also doesn’t charge for any online payments, ATM transactions, or international spending. In fact, Westpac says that if you are charged by an ATM in Australia, it will refund the cost. If using your card overseas, you may be charged a fee by international ATM operators, which Westpac will not refund.

It’s worth noting that the daily limit for domestic ATM or other cash withdrawals is $2000, which may be too low for some card users. However, since it is available for those aged 12 years old and over, this limit may give peace of mind to parents looking for a debit card for their kids.

• No account keeping or transaction fees
• Earn 4.75% interest
• Can be used abroad
• Daily ATM withdrawal limit
• Limited extra perks

The HSBC Everyday Global Account lives up to its name, with the debit card allowing cardholders to switch between 10 different currencies using the HSBC Mobile Banking App: AUD, USD, GBP, EUR, HKD, CAD, JPY, NZD, SGD, and CNY.

HSBC says that while at home in Australia, account holders will not be charged an account keeping fee, transaction fees or HSBC ATM fees. The same conditions apply while overseas, with HSBC also not charging international transaction or transfer fees. However, there may be fees charged by non-HSBC-owned ATMs, and international ATM fee charges.

Additionally, cardholders can also earn up to 2% cashback for tap and pay transactions under $100, with a limit of $50 cashback per month, but only if they deposit at least $2000 per month.

• 10 currencies available
• 2% cashback on purchases up to $100
• No refunds for ATM charges
• Cashback reward only valid with monthly deposits

Up is a neobank that was founded by Bendigo Bank in 2018, targeting young Australians wanting to be more conscious of their spending and saving habits. The transaction account, the Up Everyday Account, charges no monthly fees to its users.

There is also no charge for ATM withdrawals at most major bank ATMs both here in Australia and internationally, nor is there any overseas purchase fees whether online or in-store. However, there is a charge for an overdrawn account balance, which is levied at an interest rate of 11.23% per annum.

Up also offers features that help cardholders save money, such as a round-app add-on that rounds all transactions to the nearest dollar—putting the remainder into the savings account.

• No ATM withdrawal limit
• Savings tools
• High overdraft charge
• No in-branch assistance

The NAB Classic Banking debit card prides itself on its low fees, stating it offers no account fees, withdrawal fees, transaction fees or overdraw fees. However, if your account does not have an approved overdraft limit, you will face an overdraw charge of 15.41% per annum–highlighting why ‘no fee’ cards aren’t always as clear as they claim to be.

While the card can be used anywhere that Visa is accepted, including overseas, it does charge a flat fee of $5 AUD for international ATM withdrawals and a foreign transaction fee of 3%.

In terms of additional perks, cardholders of the NAB Classic Banking debit card also get shopping protection with NAB Defence and Visa Zero Liability and complimentary access to Visa Entertainment.

• Shopping insurance protection
• Highly-rated mobile app
• International fees
• Overdraft charge

While the Wise Personal Account is a good choice for Australian spenders, it is particularly handy for those who either travel frequently, make a lot of foreign transactions, or get paid in different currencies.

You can access and spend 40+ currencies, allowing you to make purchases in more than 200 countries worldwide. You can also open multiple sub-accounts within your account, including with local account details in different currencies such as USD, GBP, EUR and more.

When it comes to ATM withdrawals, Wise cardholders can withdraw up to $350 AUD, twice a month, for free. Any amount above this figure, you will be charged a fee of $1.50 for any additional withdrawals, along with 1.75% of the transaction. For customers in Australia needing cash on a regular basis, this could be a difficult fee to swallow.

• 40+ currencies
• Free ATM withdrawals worldwide
• ATM withdrawals limited per month
• $10 fee for physical card

The ANZ Plus Transaction Account offers a no monthly fee debit card, and it does not charge fees for ATMs in Australia or at international ANZ ATM withdrawals.

It does however charge $5 for international ATM withdrawals if the ATM isn’t owned by ANZ, and also charges a 3% transaction fee for international purchases. Therefore, it may not be ideal for those looking to go overseas.

ANZ does not charge an overdraft fee for its ANZ Plus Transaction Account, as you won’t be able to go into overdraft. If you try to use the debit card without sufficient funds, your card will be declined.

• Free international ANZ ATM withdrawals
• No overdraft
• International transaction fee

Bank Of Queensland’s myBOQ Everyday Transaction Account is its app-only offering, meaning you cannot access a branch or internet banking with the debit card–everything is done via the app or over the phone. (You still receive a physical debit card as well, though).

While BOQ says it does not charge a monthly account keeping fee, withdrawal fee, transaction fee or overdraft fee, it does actually charge 10% per annum on overdrawn balances. There is also a daily withdrawal limit of $1000, which can be increased to $2000 per day by the account holder.

Overseas, the card can be used but will be subject to a 3% foreign conversion fee on all transactions, a $5 ATM withdrawal fee, and a $2 international balance enquiry fee at foreign ATMs.

• Round-up feature
• Can be linked to a high-interest savings account

$0 if you are under 30 or you deposit $2000 per month; $4 if not

Commonwealth Bank is Australia’s biggest bank, and while its debit card doesn’t charge a monthly account keeping fee, it does come with a catch: you must either be under 30 years of age or, if over 30, you are required to deposit at least $2000 per month. If you fail to meet these conditions, you’ll be charged $4 per month.

There are also no withdrawal limits per month, however, there is a daily ATM withdrawal limit of $2000. For those looking to travel overseas, cardholders will be charged $5 for foreign ATM withdrawals as well as a 3% transaction fee.

Commonwealth Bank partners with many Australian businesses to provide its customers with cashback rewards. For frequent online shoppers, this perk could outweigh the possibility of a monthly account keeping charge.

• Monthly fee can be waived
• Cashback reward offerings
• Positive customer reviews

To avoid paying a monthly fee when having a Westpac Choice Transaction Account, you will need to either be under 30 years of age, a full-time student, or deposit a minimum of $2000 into your account each month. If you are unable to meet these conditions, you’ll be charged $5 a month to keep your account open.

This may be a convenient card for those wanting to travel, as Westpac is part of the Global ATM Alliance. This means you can withdraw at thousands of participating ATMs across the world without being charged a fee by Westpac. For ATMs not in the alliance, you’ll be charged $5–as well as a foreign transaction fee of 3%.

The Westpac Choice Transaction Account allows you to instantly have access to a digital debit card upon opening an account, which is compatible with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, and Garmin Pay. This means you can spend instantly, as long as you have money deposited into your account.

• Global ATM network
• Instant access to digital card
• $5 fee if you don’t meet monthly criteria

The ING Orange Everyday Card became a household name after it was recommended in The Barefoot Investor, the investing bible which sold millions of copies. However, while still a good product, it’s not as strong as it used to be. ING still doesn’t charge monthly or transaction fees on its Orange Everyday Card, nor does it charge for ATM withdrawals. But many of the key features of the ING Orange Everyday Card (such as cashback for utilities and ATM fee refunds for overseas transactions) are dependent on meeting monthly criteria: depositing at least $1000, and making five eligible transactions.

Those who don’t meet the monthly criteria, could be in for a rude shock overseas: ING charges 3% of the international transaction on each purchase, and a flat fee of $5 AUD for every international ATM withdrawal.

• Cashback rewards for utilities
• Monthly criteria required for perks

In order to determine our pick of the best debit cards for Australians, Forbes Advisor Australia researched and analysed the current offerings on the market. We then considered key factors that Australians would consider when looking for a debit card, including (but not limited to) the following factors:

• Whether or not the bank charges a monthly account fee;
• If you will be refunded ATM fees for any ATMs within Australia;
• Whether or not you can use your card overseas;
• If you will be charged a foreign transaction fee when using your card overseas;
• If there is a possibility to add foreign currencies to your account and, if so, which currencies;
• Whether there is an overdraw fee, and what it is;
• If the card has a minimum deposit requirement each month, and what it is;
• Any savings perks that the card offers;
• If you can open multiple sub-accounts with the one card;
• If there are any cashback rewards for certain transactions;
• Whether or not you can earn interest on your balance, and if there is any criteria to do so; and
• If the card is compatible with Google and Apple Wallet pay.

After establishing whether or not each debit card offered these features, we then compared the cards against one another—looking at which cards had higher minimum monthly deposits than others, or how much interest you could earn on a balance.

By comparing these features Forbes Advisor Australia was then able to make an independent assessment of each card and provide it with a star ranking, as seen above.

A Note on Star Rankings

You will note that we have included a star rating next to each product or provider. This rating was determined by the editorial team once all of the data points above were considered, and the pros and cons of each product attribute was reviewed. The star rating is solely the view of Forbes Advisor editorial staff. Commercial partners or advertisers have no bearing on the star rating or their inclusion on this list. Star ratings are only one factor to be considered, and Forbes Advisor encourages you to seek independent advice from an authorised financial adviser in relation to your own financial circumstances and investments before you decide to choose a particular financial product or service.

It’s commonplace these days for debit cards to not charge any monthly account keeping fees, which is why only two of those that made it into Forbes Advisor Australia’s Best Debit Card list above charged a fee, and it was a fee that is waived if you meet certain criteria.

However, some institutions still levy fees, and it’s worth finding out if your current debit card does—or if the debit card you’re interested in applying for—will.

Some banks and financial institutions will charge a monthly account fee simply to keep your account active, while others will charge you for transactions—such as internet banking or ATM withdrawals. You may even be charged overdraft fees if you spend more than your card balance, or fees for making deposits or withdrawals at an in-person branch.

Moneysmart suggests Australians “think about their spending habits” when choosing a debit card and the subsequent fees.

“For example, if you often use ATMs, choose an account that has low or no ATM fees,” Moneysmart recommends.

Yes, while it is possible to earn interest with a debit card, it’s not always common for regular transaction accounts to offer interest on a balance. In fact, from Forbes Advisor Australia’s best debit card list, only one offered the ability to earn interest.

What is more common is for transaction accounts to be linked to savings or high-interest savings accounts, which then requires cardholders to meet specific criteria each month to earn the high interest rate on offer.

For example, the ANZ Plus Transaction Account can be linked with an ANZ Plus Save Account. This way individuals can receive 4.90% interest per annum on their balance in the ANZ Plus Save Account . The ANZ Plus Transaction Account will not receive any interest.

You can learn more about savings accounts and how to earn interest on your bank balance in our guide here .

Related: Our Pick Of The Best High Interest Savings Accounts In Australia

While debit cards and credit cards are used in a very similar manner—both to pay for goods and services—there are key differences that Australians should understand.

The main difference is that credit cards are a loan of money from your bank or financial institution which must be repaid, while a debit card is your own money that is used up-front. This means when you pay with a debit card, you pay the transaction up front and are not left owing anything. When you pay with a credit card, you are taking on a debt and are required to pay this off before the end of your statement period. If you don’t, you’ll be charged an interest rate and/or fees.

Other differences between debit cards and credit cards include:

• An interest rate: You won’t be charged an interest rate on your transactions with your debit card, but you will be charged an interest rate on your credit card balance if you neglect to pay it off before the due date. The average Australian credit card holder is paying an interest rate of 17.92% p.a.
• Your ability to withdraw cash from an ATM: a debit card is your own money, so you can usually withdraw cash from your account freely. A credit card, however, needs to have a cash advance option—and you’ll face high interest charges for taking out money.
• Fees: While it’s common for debit cards to not charge a monthly or annual fee, it’s less common when it comes to credit cards. The fee for a credit card is usually an annual one and depends on the financial institution and the perks associated with your credit card.
• Credit score: Both a credit card and a debit card can affect your credit score , however, a credit card can affect it much more heavily as it shows a lender how capable you are of paying off a loan on time when you are applying to borrow money.
• Insurance: Credit cards often come with complimentary insurance, such as fraud protection, travel insurance, and more. While some debit cards may offer shopper protection insurance, it’s not very common.
• Rewards: Some credit cards are linked with rewards partnerships , allowing you to earn points that can be redeemed for goods and services such as frequent flyer miles . Again, while some debit cards may offer some cashback rewards to its customers, it’s not very common.
• Emergency expenses: If you need cash quickly for an emergency, such as an unexpected bill or damage to your car, a credit card can be a way to access funds quickly that you may not have in your debit card account right that minute. However, you still need to make sure you are able to afford paying off the credit by the due date to avoid interest charges.

Whether or not a debit card or a credit card is best for you will depend on your personal needs and financial circumstances. You can learn more about credit cards here .

Related: Our Pick Of The Best Credit Cards For Australians In 2024

Can you use debit cards abroad?

Yes, debit cards can be used internationally as long as the bank allows you to do so. Some banks won’t charge you for using your card abroad, including for ATM withdrawals and other foreign transactions. However, many do. It’s important to understand the fees and conditions of your debit card if you wish to travel internationally.

What is the CVV on a debit card?

A CVV is a three or four digit number on a debit card that helps prevent fraud, and is usually found on the back of a debit card. CVV stands for ‘card verification value’ and is used to authorise transactions made online or over the phone.

What is the best debit card in Australia?

According to Forbes Advisor Australia’s independent analysis, the leading debit card for Australians is the Macquarie Bank Transaction Account. This is due to its no monthly account keeping or transaction fees, its ability to be used abroad without incurring additional charges, and the 4.75% interest rate that account holders can earn on their balance.

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 site, Sophie has worked closely with finance experts and columnists around Australia and internationally. Sophie grew up on the Gold Coast and now lives in Melbourne.

The Best Prepaid SIM Cards in Australia in 2024

A writer and editor at Monito, Jarrod is passionate about helping people apply today’s powerful finance technologies to their lives. He brings his background in international affairs and his experiences living in Japan to provide readers with comprehensive information that also acknowledges the local context.

Links on this page, including products and brands featured on ‘Sponsored’ content, may earn us an affiliate commission. This does not affect the opinions and recommendations of our editors.

These days, it’s almost impossible to imagine visiting a foreign country without mobile connection. You may need to call a rideshare, find your hotel on maps, connect to the internet when away from Wi-Fi, or translate signs in a foreign language.

However, using international roaming with your home carrier to get data could cost hundreds of dollars. This is why prepaid eSIM cards are the fastest growing option for international tourists who own an eSIM-compatible device.

In this guide, you’ll find the 5 best prepaid SIM and eSIM options available for tourists in Australia in 2024, including their pricing and data plans. Let’s get going!

Airalo is our top choice to avoid expensive international roaming fees. Airalo offers eSIMs tailored to you, from 5 days up to months at a time, covering hundreds of countries, with both multi-country and various GB plans available.

The Best Prepaid SIM Cards in Australia For Travel in 2024

• 01. Where can I buy prepaid SIM cards in Australia? scroll down
• 02. Do I need to register my prepaid SIM in Australia? scroll down
• 03. Physical prepaid SIM cards in Australia scroll down
• 04. Best prepaid eSIMs in Australia scroll down
• 05. What are the largest mobile network operators in Australia? scroll down

Facts About Prepaid SIMs in Australia

Where to buy physical prepaid sim cards for australia.

Australia offers an easy process for tourists to purchase prepaid SIM cards, available at airports, convenience stores, and supermarkets. The market is well-adjusted to tourists, providing a range of options with reasonable rates.

1. Australian Airports

Major Australian airports, including Sydney Kingsford Smith and Melbourne Airport, offer prepaid SIM cards from telecommunications providers like Telstra, Optus, and Vodafone. Tourists can find these SIM cards in various retail outlets within the airport terminals. The cost for a basic SIM card starter pack usually starts around $20 AUD, which will include a combination of data, local, and sometimes international call options. On a trip to Brisbane, I went with a cheap SIM card option with Optus, which was available outside the arrival terminal. The 5 GB of data for $12 AUD was a perfect fit for me.

2. Network Provider Retail Stores in Australia

Optus and Telstra stores are ubiquitous across major Australian cities, offering a variety of prepaid SIM card options suitable for tourists.

You could also consider having a physical prepaid SIM card shipped to your house before you travel by shopping on online sites (like Amazon). You’ll often find small SIM card providers that partner with the large Australian networks (like Telstra or Optus) to connect your phone to mobile data. You could even consider buying a portable Wi-Fi hotspot device.

Shopping online requires a little travel pre-planning but allows you to search around for better prices and data plans that meet your needs.

The easiest online option, and the one that we highly recommend, is to purchase an eSIM. These digital SIMs can be instantly activated straight from your smartphone from apps like Airalo and Holafly , which then give you seamless access to data in your travel destination.

Registration Process For Prepaid SIM Cards in Australia

In Australia, registration is necessary, and you'll need to show your passport to the issuer. 

It's worth noting that an increasing number of countries are requiring registration from mobile phone users for security reasons, where purchasing a prepaid SIM card requires consumers to provide proof of identity.

For the countries that have these Know-Your-Customer (KYC) laws, registration will also apply to eSIMs. However, eSIMs do have the benefit of digital registration as opposed to the hassle of an in-person process. If your eSIM is data only (no local phone number), then you may be able to get connected without registering your info.

Cheap Physical Prepaid SIM Card Options For Australia Travel

Here are some of the most popular options for plastic SIM cards for tourists in Australia:

Telstra is known for its exceptional mobile 4G/5G network coverage, offering reliable internet across Australia.

Telstra offers prepaid SIM cards for $12 AUD for 3 GB data, $35 AUD for 35 GB, and $45 AUD for 45 GB, all with unlimited calls/SMS and international calls for 28 days.

Optus, available in stores across Australia, offers both physical and e-SIM cards for tourists, featuring 3 standard tourist plans geared towards visitors.

$12 AUD buys 5 GB data with unlimited calls/SMS for 7 days; $35 AUD for 40 GB or $45 AUD for 60 GB both with additional international calls for 28 days.

Best Digital Prepaid e-SIMs For Tourists in Australia

Want to ditch physical plastic SIM cards? You can conveniently download and active the following international eSIMs from your smartphone instead.

Airalo is an excellent eSIM provider for international travel. For Australia, they offer eSIMs from 1GB for 7 days at $4.50 up to 20GB for 30 days at $40, and other plans in between. It was super easy for us to set up in the app and purchase instantly.

More info: Read our Airalo review or visit their website .

Holafly offers unlimited data volume packages for international travel. Holafly's data packages for Australia cost between $19 and $54 once off and are valid from 5 to 20 days, offering peace of mind that you'll never run out of data.

Although Holafly offers unlimited data in most countries, including Australia, if you're a globetrotter, it's worth keeping in mind that Holafly offers limited data plans to some other destinations. Be sure to check their website or app before traveling to a new country to confirm whether Holafly's unlimited packages apply.

More info: Read our Holafly review or visit their website .

Yesim, a Swiss-based eSIM service, offers flexible plans for 3GB, 5GB, 10GB, and 20GB. The pricing of these eSIMs for Australia range from $12.10 to $44.

The 3GB plan is good for 7 days while the 5GB one is good for 15 days. The 15GB and 30GB plans both last for 30 days.

To make sure your phone can support eSIM cards, read our list of eSIM-compatible phones .

Largest Mobile Network Operators in Australia

eSIMs are great because they connect to the best network available wherever you are. Your phone might connect to Telstra or Optus, depending on your location, at no extra cost. In contrast, if you buy a SIM card directly from one Australian telecom provider, then your phone will only access that provider's network.

In Australia, expect to see these names as you connect to data on your travels:

• TPG Telecom: Offers competitive pricing, particularly in the broadband sector.
• Optus: Varied plan options and strong focus on sports content.
• Telstra: Extensive coverage, especially in remote areas, and leading 5G network.

Frequently Asked Questions About Prepaid SIM Cards For Travel in Australia

Yes, it is wise to plan ahead, but you can also opt for an eSIM even 24 hours before your trip if you have an eSIM-compatible phone. The best part about eSIMs like Airalo and Holafly is that the plans won’t activate until you connect within the plan’s designated country. This means you won’t be on the clock until your trip finally starts.

We believe Airalo offers the best prepaid eSIMs in Australia and around the world in 2024, with options that are 5G compatible, starting from 1GB for 7 days at $4.50 up to 20GB for 30 days at $40.

Check our list to make sure your device is compatible with eSIM technology.

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Travel points on credit cards, explained

PayPal Editorial Staff

March 14, 2024

Savvy shoppers can turn everyday spending into exciting adventures by harnessing the power of travel points on credit cards.

Travel points on credit cards are rewards earned for eligible purchases. When someone accumulates enough points, they can redeem them for travel-related expenses like flights, accommodations, or upgrades.

From earning to redeeming, discover the world of travel reward points in this guide.

How do travel points work?

Travel points on credit cards work by rewarding people for their spending. When someone uses their credit card for eligible purchases, they may earn a certain number of points or miles based on the card's rewards program. These points accumulate over time and can be redeemed for travel costs.

Some cards or reward programs also offer flexible redemption options, allowing individuals to transfer points to airline or hotel loyalty programs.

The more someone spends on their card, the more travel points they may accumulate. However, it’s important to practice responsible spending and not make purchases simply to earn more points.

While some credit cards may be specifically noted as travel credit cards or offered in tandem with airline companies, many rewards credit cards can still be used to earn points or cash back to spend on travel or lodging. There may also be rewards programs via cash back apps that offer earning potential for spending with certain travel-related companies or airlines. For example, PayPal users can view travel-related deals and rewards offerings in the Travel category on the PayPal app . Rewards earning and redemption options will vary depending on card provider and/or rewards program.

Potential pros and cons of travel points

Some benefits of travel points may be:

• Free or discounted travel expenses:  Travel points may be redeemed for complimentary or discounted flights, hotel stays, and even upgrades, allowing for cost savings on travel expenses.
• Travel perks:  Some travel rewards cards provide access to airline or hotel loyalty program benefits, such as priority boarding, lounge access, and room upgrades.
• Flexible redemption:  Many programs offer flexible redemption options, including the ability to transfer points to partner airlines or hotels, providing more choices for travelers.

Before signing up for a travel rewards credit card, consider the possible risks of travel points:

• Limited flexibility:  Some travel rewards programs may have restrictions or blackout dates. Points may also have expiration dates — if unused, someone may lose their rewards.
• High annual fees:  Many premium travel rewards cards come with annual fees, which may offset the value of the rewards.
• Increased spending:  To earn travel points, people must use their credit card, which can lead to debt if not managed responsibly.

How to earn travel points

To earn travel points, someone generally needs to use a travel rewards credit card on eligible purchases. Over time, they may accumulate enough points to enjoy a benefit like free or reduced airfare or a discounted hotel stay.

Beyond everyday spending, here are other ways to potentially earn travel points:

• Sign-up bonuses:  Many travel rewards credit cards offer sign-up bonuses when opening a new account and meeting a spending requirement within a specified timeframe.
• Frequent flyer and hotel loyalty programs:  When someone flies with a specific airline or stays at a particular hotel chain consistently, they may accumulate points or miles that can be redeemed for future travel.
• Online shopping portals:  Some airlines and credit card companies have online shopping portals that offer bonus points for making purchases through their platforms.

Accumulating travel points requires responsible financial management, including paying off credit card balances in full each month to avoid interest charges . Additionally, check for any annual fees associated with travel rewards credit cards and ensure that the benefits outweigh the costs.

How to redeem travel points

Travel rewards credit cards may offer several redemption options, from flights or hotels to vacation packages or statement credits. When booking through a rewards portal, people typically have the option to pay with points or a combination of points and cash.

The redemption process may vary slightly depending on the specific travel rewards program or credit card. Always read the terms and conditions of the rewards program and credit card to understand any restrictions, blackout dates, and expiration policies associated with the points.

Learn how to redeem rewards .

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What you need to know about the Wells Fargo Autograph Journey Visa Card

• How other travel cards compare to the Wells Fargo Autograph Journey℠ Visa® Card
• 4 important details about the Autograph Journey 

This New Travel Credit Card Could Dethrone The Chase Sapphire Preferred

Between its flexible rewards and point-transfer opportunities, the new Wells Fargo card could be a worth-while choice.

Holly Johnson

Contributor

Holly Johnson is a credit card expert and writer who covers rewards and loyalty programs, budgeting, and all things personal finance. In addition to writing for publications like Bankrate, CreditCards.com, Forbes Advisor and Investopedia, Johnson owns Club Thrifty and is the co-author of "Zero Down Your Debt: Reclaim Your Income and Build a Life You'll Love."

Tiffany Connors

Tiffany Wendeln Connors is a senior editor for CNET Money with a focus on credit cards. Previously, she covered personal finance topics as a writer and editor at The Penny Hoarder. She is passionate about helping people make the best money decisions for themselves and their families. She graduated from Bowling Green State University with a bachelor's degree in journalism and has been a writer and editor for publications including the New York Post, Women's Running magazine and Soap Opera Digest. When she isn't working, you can find her enjoying life in St. Petersburg, Florida, with her husband, daughter and a very needy dog.

The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.

Wells Fargo’s newest credit card -- the Wells Fargo Autograph Journey℠ Visa® Card* -- is open for online applicants. It’s a competitive offer that could give incumbent travel credit cards from  Chase ,  American Express  and  Capital One  a run for their money.  

Wells Fargo does one thing better than its competitors: It offers a more flexible rewards program that doesn’t require booking travel in a portal to earn the highest rates.

Here’s why we think the Wells Fargo Autograph Journey could go toe-to-toe with some of  the best travel credit cards , plus four insider tips to help  you  decide if you should add it to your credit card lineup.

Before we dive into the hidden features and benefits, here’s an overview of what you can expect with the Autograph Journey:

• Earn 60,000 welcome bonus rewards points after spending $4,000 in purchases within three months of account opening.
• Earn unlimited 5x points on hotels, 4x points on airlines, 3x points on other travel and dining and 1x on other purchases.
• Receive an annual statement credit with a $50 minimum airline purchase.
• No foreign transaction fees.
• Other benefits include trip cancellation and interruption insurance, lost luggage reimbursement, roadside dispatch and cell phone insurance.
• $95 annual fee.

How other travel cards compare to the Wells Fargo Autograph Journey℠ Visa® Card

Chase Sapphire Preferred® Card

Capital One Venture X Rewards Credit Card

Capital One Venture Rewards Credit Card

4 important details about the autograph journey .

Here’s a rundown of four facts we discovered about the Autograph Journey that you should know when deciding whether to apply.

1. You can transfer points with Wells Fargo point-based cards

The launch of the Autograph Journey also marks the first transferable points program from Wells Fargo, which joins other card issuers like Chase and Capital One, which have their own pooling programs .

Autograph Journey will be able to do a points transfer with the no-annual-fee Wells Fargo Autograph℠ Card . This is especially notable since the Wells Fargo Autograph℠ Card offers bonus rewards in different categories than the Autograph Journey. 

For example, the Autograph card earns unlimited 3x points on restaurants, travel, gas stations, transit, popular streaming services and phone plans, plus 1x points on other purchases. So you can maximize your point earning across different categories, then transfer your points to your Autograph Journey account to access premium travel redemptions.

2. It offers more options for earning bonus miles on travel than some competitors

The Autograph Journey will offer more flexibility than many travel rewards cards when it comes to earning more points on travel purchases. For example, cardholders earn unlimited 5x points on hotels booked directly with hotel brands and 4x points on airfare booked with airlines. 

This helps the card stand out from other popular travel credit cards that offer the most bonus points only if you book travel through their portals. For example, the Capital One Venture Rewards Credit Card * and the Capital One Venture X Rewards Credit Card * only offer the highest bonus rewards on travel booked through Capital One Travel. The Chase Sapphire Preferred® Card also offers its highest rate of 5x points on travel booked through Chase Ultimate Rewards, whereas other travel purchases earn 2x points.

Autograph Journey cardholders also earn a minimum of 3x points on other travel purchases, which could include rental cars, cruises and travel booked through online travel agencies like Expedia and Priceline.

3. The card may grow in value as more transfer partners join

The Autograph Journey Card will earn flexible travel rewards points that transfer to a selection of airline and hotel partners, similar to Amex Membership Rewards points or Chase Ultimate Rewards . While the list of transfer partners is limited, Wells Fargo stated in its initial press release that “more partners will continue to be added throughout the year.”

Points transfers could dramatically change the value proposition of the Autograph Journey, especially if new partners include domestic airlines and popular hotel loyalty programs. 

Wells Fargo point transfers will be available to new cardholders starting on April 4. For now, Wells Fargo transfer partners include the following:

4. You may need to wait to apply

If you’ve applied for another Wells Fargo card in the last six months, you’ll likely have to wait a little longer before applying for the Autograph Journey.

Wells Fargo states in its terms and conditions, “If you opened a Wells Fargo Credit Card account within the last six months, then you may not qualify to open an additional Wells Fargo Credit Card account. We may also limit how many open Wells Fargo Credit Card accounts you have.”

So if you want the new Autograph Journey, you should steer clear of applying for other cards from Wells Fargo for now. If you’re approved and use the card responsibly for six months or longer, you can consider adding additional Wells Fargo credit cards to your portfolio.

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Federal Reserve March meeting: Rates hold steady; 3 cuts seen in '24 despite inflation

Officials also bumped up their estimates of economic growth and inflation in 2024..

• The decision leaves the Fed’s rate at a 23-year high of 5.25% to 5.5%
• Wednesday’s move means Americans will keep paying higher borrowing costs as the Fed battles to slow sharp price increases.
• Officials kept their projection that they’ll lower the federal funds rate by three-quarters of a percentage point to a range of 4.5% to 4.75% by year’s end.

WASHINGTON--The Federal Reserve left its key interest rate unchanged again Wednesday and stuck to its forecast of three rate cuts this year despite signs that inflation may stay elevated longer. 

Fed officials also bumped up their estimates of economic growth and inflation in 2024.

The decision leaves the Fed’s benchmark short-term rate at a 23-year high of 5.25% to 5.5% for a fifth straight meeting. After hiking the rate from near zero since March 2022 to wrestle down high inflation, the central bank has stood pat since July as consumer price increases moderated substantially.

Wednesday’s move means Americans will keep paying higher borrowing costs for now as the Fed battles to slow sharp price increases.

In a statement after a two-day meeting, the Fed repeated that it “does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation (now close to 3%) is moving sustainably toward” the Fed’s 2% goal.

Learn more: Best current CD rates

What's ahead for homebuyers? Mortgage rates at a 'new normal' of 6%.

How much will interest rates drop?

While inflation has eased more slowly early this year, Fed officials maintained their projection that they’ll lower the federal funds rate by three-quarters of a percentage point to a range of 4.5% to 4.75% by year’s end, according to their median estimate. That’s equivalent to three quarter-point rate cuts, an outlook that could further bolster a stock market that has hit new records since fall on the prospect of lower rates.

At a news conference, Fed Chair Jerome Powell acknowledged that inflation flared in early 2024 after falling dramatically last year. But he said the uptick in January could have been caused by challenges the government faces as it seasonally adjusts the data. The February data was more worrisome, he said, but it appeared to show less of a spike than the previous month.

"The story is really essentially the same of inflation coming down gradually to 2% on a sometimes bumpy path," Powell said. "We're not going to overreact...to the two months of data. Nor are we going to ignore them."

Powell wasn't more specific on when the Fed could start shaving rates except to reiterate that it likely will be "sometimes this year." He noted, however, that besides further progress on inflation, Fed officials also could lower rates "if there's a significant weakening in the labor market."

Futures markets continue to predict three rate decreases this year, with the first coming in June.

Some economists believe the Fed will slice rates more sharply this year in response to both a softening economy and slowing inflation.

"We continue to believe that below-potential GDP growth will help to drive core inflation much closer to the 2% target by year-end, persuading the Fed to cut rates by (a full percentage point), beginning in June," Paul Ashworth of Capital Economics wrote in a note to clients..

Fed officials did reduce their forecast to just three rate cuts in 2025 from four in December.  And they nudged up their estimate of the longer-run rate intended to neither stimulate nor curb growth to 2.6% from 2.5%, indicating they believe the economy will be a bit stronger than anticipated in coming years.

How's the job market? Behind the rosy job numbers, Americans are struggling to find work

The Fed raises rates to make consumer and business borrowing more expensive in an effort to curtail economic activity and inflation. It lowers rates to stimulate weak growth or dig the economy out of recession . Wednesday’s decision means consumers will continue to endure higher borrowing costs for mortgages , credit cards, auto and other loans but will also benefit from higher savings account yields.

Some Fed officials say they can afford to trim rates cautiously because the economy has been resilient despite the high borrowing costs and inflation is still above their goal. Others note that with price gains generally slowing, inflation-adjusted rates are already too high and serve as a drag on an economy that’s poised to lose steam after a post-COVID surge. 

Some forecasters still think the U.S. could slip into a mild recession this year, an outcome they say would become more likely if the Fed waits too long to chop rates.

What is the prediction for the economy in 2024?

On Wednesday, the Fed said it expects the economy to grow 2.1% in 2024, well above its prior 1.4% estimate. It predicts 2% growth in 2025, up from its prior 1.8% projection.

The economy grew a sturdy 3.1% in 2023 (as measured from the fourth quarter of 2022 to the fourth quarter of 2023). But it’s projected to slow this year as high interest rates, record credit card debt and dwindling COVID-related savings take a bigger toll on household spending. Retail sales were feeble in January and February.

Stubborn inflation: Inflation data from CPI report shows sharper price gains.

What is the forecast inflation rate for 2024?

Fed officials estimate their preferred measure of annual inflation, the personal consumption expenditures (PCE) index, will end 2024 at its current level. 2.4%, in line with their previous projection.

But a core measure that strips out volatile food and energy items and is watched more closely by the Fed is expected to dip from 2.8% to 2.6% by the end of the year, above the prior 2.4% estimate.

After hitting a 40-year high of 7% in mid-2022, the PCE price index has tumbled. Economists point to the resolution of product and labor shortages as Americans idled by COVID came back to the labor force, joining a stream of immigrants. Also, consumer demand for furniture and other goods has softened as the health crisis has faded.

But in January, consumer prices rose 0.3% and a core measure  both jumped 0.4%,  higher than the previous trend. The increases still lowered annual inflation overall to 2.4% and core PCE to 2.8%.

In February, though, a different inflation gauge, the consumer price index (CPI), along with core CPI, both rose 0.4%, according to a report last week. The cost of services such as rent, auto insurance, car repairs and airline fares continued to climb. And prices for goods that had been falling or rising modestly, such as used cars and clothing, drifted higher.

Economists are divided over whether the high inflation readings amount to a blip or a sign that the road to the Fed’s 2% target is becoming bumpier. Barclays economist Jonathan Millar believes the fall in goods prices may have petered out. And annual wage growth, which was propelled higher by pandemic-related worker shortages, could decline just gradually, leaving services inflation elevated, he says.

Gregory Daco, chief economist of EY-Parthenon, says the inflation readings for the past two months have been distorted by volatile items such as airfares. And, he says, pay increases should continue to slow steadily, bringing inflation close to the Fed’s 2% target by year’s end.

What happened to the American Dream? How younger workers are redefining success

What will the job market look like in 2024?

The 3.9% unemployment rate is projected to end 2024 at 4%, a bit lower than the December forecast, the Fed’s median estimate shows. Average monthly job growth has downshifted from about 300,000 in early 2023 to a still robust 264,000 the past three months. But average job gains are likely to slow to less than 100,000 by mid-year, according to Moody’s Analytics.

Meanwhile, average yearly wage gains have declined to 4.3% from 5.9% since March 2022. The Fed wants pay increases to come down to 3.5% to align with its 2% inflation target.

For more answers to your questions about today's interest rate decision and its impact, keep reading:

Why is the Fed slow to cut rates?

The Fed’s cautious approach illustrates what’s unusual about this round of potential rate cuts. 

Vincent Reinhart, chief economist at Dreyfus-Mellon and a former Fed economist, notes that the Fed typically cuts rates quickly as the economy deteriorates in an often-futile effort to prevent a recession.

But this time, the economy is still healthy. The Fed is considering rate cuts only because inflation has steadily fallen from a peak of 9.1% in June 2022. As a result, it is approaching rate cuts the way it usually does rate hikes: Slowly and methodically while trying to divine the economy’s direction from often-conflicting data.

“The Fed is driving events, not events driving the Fed,” Reinhart said. “That’s why this task is different than others.”

- Associated Press

Will Fed rate cuts lift Americans? Fed interest-rate cuts are likely coming but may not offer much relief

Are other countries’ central banks cutting rates?

Like the Fed, other major central banks are keeping rates high to ensure that they have a firm handle on consumer price spikes. In Europe, pressure is building to lower borrowing costs as inflation drops and economic growth has stalled, unlike in the United States. The European Central Bank’s leader hinted this month that a possible rate cut wouldn’t come until June, while the Bank of England isn’t expected to open the door to any imminent cut at its meeting Thursday.

What happened at the last FOMC meeting?

During the last Federal Reserve meeting in January, the Fed underscored that an interest rate cut was now far more likely than a hike. But the central bank also suggested that it’s in no rush to reduce rates and wants to make sure inflation has been subdued for the long term before acting.

"The timing of (the first rate decrease) is linked to our gaining confidence that inflation is on a sustainable path down to 2%," Powell said at a January news conference. "I don't think it is likely (Fed officials) will reach that level of confidence by the time of the March meeting. It's probably not the most likely case."

- Paul Davidson, Daniel de Visé, Medora Lee, Charisse Jones and Bailey Schulz

Is the Federal Reserve a government agency?

The Federal Reserve is an “independent government agency.” It does not get funding through Congress. Rather, its income is primarily based on interest from the government securities it owns. 

- Bailey Schulz

Bitcoin value today

The value of a single Bitcoin was $63,355.24, as of 8 a.m. ET Wednesday, down from $73,835.57 on March 14 which was the cryptocurrency’s highest intraday price in the past year. 

- USA TODAY/Blueprint

How does raising rates lower inflation?

The federal funds rate is what banks pay each other to borrow overnight. If that rate increases, banks usually pass along that extra cost, meaning it becomes more expensive for consumers and businesses to borrow as rates rise on credit cards, adjustable-rate mortgages and other loans. That’s why the funds rate is the key mechanism used by the Federal Reserve to calm inflation.  

Simply put, companies and consumers don’t borrow as much when loans cost them more, and that means an overheated economy can cool and inflation may dip.  

- USA TODAY Staff

Consumer Price Index: What is it?

In February , the Labor Department’s consumer price index (CPI) – a measure of the average shift in prices for a basket of different products and services – was up 3.2% from a year earlier, a slightly larger annual increase than the month before.  

Annual inflation is down dramatically from 9.1% in June 2022, which marked a 40-year high. But it remains above the 2% target the Fed equates with price stability.

Why is CPI important?

The Federal Reserve watches two key aspects of the economy, price stability and maximum employment, and those are the main factors it takes into account for its interest rate decisions. The CPI is one key measure the Fed looks at to help determine if prices are “stable.’’ It traditionally has watched PCE prices even more closely.

What is the difference between CPI and core CPI?

Core prices don’t include the volatile costs of food and energy items, giving a more accurate gauge of longer-term trends.

Is there a recession coming in 2024?

Now that inflation is easing, the Fed may be poised to make a blunder by moving too slowly to cut rates and triggering a recession, some economists argue.

“The longer they wait, the greater the risk that something goes off the rails ,” says Mark Zandi, chief economist of Moody’s Analytics.

Other economists say inflation still poses the bigger threat and the Fed is on the right track.

- Paul Davidson

Ethereum price

Ethereum topped $4,000 at the start of this month, its highest peak since December 2021. The cryptocurrency is the second-largest based on market capitalization . 

Does the Federal Reserve interest rate affect credit cards?

The Fed doesn’t directly dictate how much interest you pay on your credit card debt. But its rate is the basis for your bank’s prime rate. In combination with other factors, such as your credit score, the prime rate helps determine the Annual Percentage Rate, or APR, on your credit card.

Credit card annual percentage rates (APRs), or the annual interest rates you pay to borrow money, will likely continue climbing . The average credit card interest rate is 24.66%, the highest since LendingTree began tracking rates monthly in 2019, it said. 

“We’ll likely see more record credit card APRs in the short term, with rates for those who don’t have perfect credit perhaps climbing the most,” said Matt Schulz, credit analyst at comparison site LendingTree. “I expect the increases to be pretty small, barring unexpectedly bad economic news, but after two years of upward movement, even tiny increases are definitely unwelcome.” 

With interest rates so high, Americans should focus on paying off credit card debt before anything else. “You can’t outrun 20-plus-percent interest rate on a balance,” said Rich Guerrini, president and chief executive at financial services company PNC Investments. 

Since it’s tax season, consider using your refund check to pay off credit card debt, he said. As of March 8, the average refund was $3,145, up 5.8% from a year ago, the IRS said. “Use it to pay your credit card bill instead of a trip,” Guerrini said. 

Credit card debt was a record $1.13 trillion in the last three months of 2023 and delinquencies have risen above pre-pandemic levels, the New York Federal Reserve said. 

- Associated Press, Medora Lee

Will auto loan rates go down in 2024?

Borrowers’ rates are based on factors like credit background, vehicle price, down payment and the lenders’ borrowing costs and risks. 

But rates alone have “a pretty limited impact on affordability,” said Greg McBride, chief financial analyst at personal finance site Bankrate. “For most auto buyers, it’s not the interest rate that’s busting the budget...The difference between 8% and 7.25% on a $40,000 loan is about $14 per month – on an $800 per month loan.” 

Instead, it’s price. The average new vehicle transaction price remains 18% higher than pre-pandemic, Kelley Blue Book said.

- Medora Lee

How does the Fed's decision affect savings interest rates?    

Rates have already begun to fall in anticipation of a rate cut later this year, said Ken Tumin, banking expert at DepositAccounts.com, which tracks interest rate products. 

Certificates of Deposit (CD) rates have led the decline, with some banks having already slashed their 12-month online CD rate by more than half a percentage point this year, he said. 

Online savings accounts have fared better, with rates holding mostly steady or just dipping. 

“Widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” Tumin said. So far in 2024, the average yield has declined 5 basis points from 4.49% to 4.44%, he said. 

Certificate of Deposit: Average CD rates today

The average yield on a one-year certificate of deposit (CD) in December 2023 was 1.86%, according to the Federal Deposit Insurance Corporation (FDIC), while a 60-month CD was 1.40%. 

While those rates aren’t exactly robust, they’re well above recent levels. For instance, a one-year CD yielded just 0.13% in January 2022, before the Fed started raising rates, while a 60-month CD offered only 0.28%. 

A rate increase of that size can make a big difference to your bottom line. 

Say you opened a 60-month CD and deposited $10,000 in January 2022 that paid a 0.28% APY. After five years, you’d earn just a little more than $140 in interest. 

That same $10,000 would net nearly $700 now. 

High-yield savings account rates

Some of the top high-yield savings accounts currently feature rates of 4% or higher.

A high-yield account works much like a regular savings account. You open the account and then deposit and withdraw funds when you want to, within what the rules allow. The biggest difference you may see between a traditional and a high-yield account is that a larger amount of interest is earned and deposited into your account at the end of each month.

The rate is subject to change depending on the overall financial market and the business needs of the bank or credit union. 

HELOC rates today

The Fed's rate moves also influence what borrowers pay on variable-rate home equity lines of credit (HELOCs) , which are revolving lines of credit that give homeowners a flexible way to borrow against the equity they’ve built up in their homes. Similar to a credit card, you can repeatedly borrow from your credit line and will only pay back the amount you’ve drawn. You’ll also only pay interest on what you’ve actually borrowed.

HELOCs can be used for almost any purpose, from home improvement projects or debt consolidation to college tuition or emergency expenses.

The average rate on a $100,000 HELOC is 9.14% if you have a loan-to-value (LTV) ratio of 60%, 9.29% if your LTV ratio is 80% and 10.02% with a 90% LTV ratio.

When is the next Federal Reserve meeting?

Here are the upcoming Fed meetings planned for this year:

• April 30-May 1
• Sept. 17-18

Fed prime rate today

The prime rate tends to be three percentage points above the federal funds rate, which is the interest tacked on to overnight loans between banks. Based on the current federal funds rate of  5.25% to 5.5%, the prime rate today is 8.5%.  

Fed dot plot today

The Fed’s dot plot can be found in the Fed's Summary of Economic Projections report. It’s an illustration of where individual Fed officials forecast interest rates will be years down the line. The dot plot was first created in late 2011 and was meant to give more transparency to the Fed's decisions when it came to monetary policy.

The Fed's latest dot plot indicated three cuts for 2024.

Inflation data: What is the inflation rate right now?

Core PCE prices, which exclude volatile food and energy items and are watched more closely by the Federal Reserve , increased 0.4% in January. That still lowered the annual increase from 2.9% the previous month to 2.8%. Overall prices rose 2.4% from a year earlier, down from 2.6% and the smallest increase in nearly three years. 

Board of Governors of the Federal Reserve System

The seven-member Board of Governors is the governing body of the Federal Reserve System. Each member is nominated by the President of the United States and confirmed by the Senate. Their terms are staggered and last 14 years.

- USA TODAY staff

Will mortgage rates go down if the Fed cuts rates?

Rate cuts are unlikely to give Americans significant relief on mortgages, auto loans, credit cards, and other types of debt anytime soon, financial experts say. Over time, the cumulative impact of lower rates could be more substantial.

The Fed influences, but does not control, mortgage rates. If you’ve found a nice, affordable home, that shouldn’t stop you from buying it, some experts say. 

“You can always buy a house and refinance later if rates fall,” said Sameer Samana, senior global market strategist and investment adviser at Wells Fargo Investment Institute. 

How does this affect my plans to buy a house?    

With the Fed now expected to delay rate cuts, some prospective home buyers may follow suit , some experts say. 

“Unfortunately for the housing market, a decision to stay the course will likely result in a softer spring selling season,” said Dan Burnett, head of investor product at fintech Hometap, which offers home equity investment products.  

The 30-year fixed rate mortgage rate has recently risen above 7% again, reversing its steady decline since October. 

“Homeowners sitting on mortgage rates well below market are unlikely to sell, and prospective homebuyers staring down exorbitant monthly payments seem willing to wait,” Burnett said. 

Mortgage rates today

As of March 19, the average annual percentage rate (APR) for a 30-year fixed mortgage was 7.40%. That was a slight dip from the 7.49% one month ago. But it was far above the 5.8% some home buyers were able to get in late 2022.

The average APR for a 15-year, fixed-rate mortgage was 6.64% — a tick down from 6.71% in February. 

What are the current interest rates?

Since March 2022, the Fed has hiked its benchmark short-term interest rate from near zero to a 23-year high of 5.25% to 5.5% to tame inflation. With its preferred yearly inflation measure – the personal consumption expenditures (PCE) index – falling swiftly from a 40-year high of 7%, the Fed has paused since July.

FOMC Press Conference: Watch live at 2:30 p.m. ET

Stock market today

U.S. stocks are edging higher Wednesday after the Federal Reserve indicated it’s still likely to deliver the cuts to interest rates this year that Wall Street craves, even though concerns are growing about stubbornly high inflation.

The S&P 500 was 0.6% higher at 2:47 p.m. ET after flipping between tiny gains and losses before the Fed’s announcement. The Dow Jones Industrial Average was up 0.7% and the Nasdaq composite was 0.9% higher.

10-year Treasury yield

In the bond market, Treasury yields had a mixed reaction.

The two-year Treasury yield, which closely tracks expectations for Fed action, initially jumped before quickly giving up the gain. It was recently at 4.64%, down from 4.69% late Tuesday.

The yield on the 10-year Treasury, which also takes into account longer-term economic growth and inflation, initially tumbled after the Fed’s announcement but then rose. It was recently at 4.29%, compared with 4.30% late Tuesday.

- Associated Press and USA TODAY Staff

How will the stock market react to ‘higher for longer’?    

The stock market response to the Fed's announcement will depend on details of the message, not the expected hold on rates. 

“Investors are going to look at the FOMC statement, Chair Powell’s press conference, and the FOMC dot plots for clues as to what the future path of monetary policy might look like,” said BeiChen Lin, strategist at Russell Investments.  

But with so much optimism for avoiding recession, slower inflation and lower interest rates already priced into stocks with their recent record highs, “it’s hard to come up with another catalyst for a sharp upward move higher from here,” Lin said. “Even a minor unpleasant surprise in the economic data could cause a pullback. We think investors should avoid playing the momentum game, and instead stay close to their strategic allocation to equities.” 

Fed rate cuts 2024

Federal Reserve Chair Jerome Powell said earlier this month the central bank won’t begin cutting its key interest rate “until it has gained greater confidence that inflation is moving sustainably toward” its 2% goal, noting the move will likely occur “at some point this year.”Responding to questions from members of the House Financial Services Committee, Powell added, "because the economy has been so strong we think we can and should be careful" about slicing rates. He added the Fed wants "to see more good inflation readings" to feel confident that the recent pullback in price gains won't stall or reverse.

Did the latest jobs report affect the Fed’s plans?

The latest jobs report showed the country adding a robust 275,000 jobs in February.

Economists said this doesn’t change expectations that the Fed will probably start cutting interest rates in June, with the booming February job gains offset by the downgrades for previous months and a rising unemployment rate.More significantly, yearly pay increases, which feed into inflation, dipped, giving the Fed some assurance that price increases should continue to slow. 

What does the Federal Reserve do?

Traditionally, the Fed reduces interest rates to jolt an economy that’s slowing significantly or already in recession. Right now, however, neither of those things is happening. The economy grew a sturdy 3.3% in the fourth quarter and a solid 2.5% for all of 2023, as consumer spending stayed strong.

Instead, the Fed tentatively plans to lower rates because inflation has eased. Otherwise, over time, inflation-adjusted rates would be too high and excessively restrain consumer and business spending.

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Controversial military reproductive health care travel policy was used just 12 times in 7 months.

Associated Press

WASHINGTON – A controversial military policy that allows service members to be reimbursed for travel if they or a family member have to go out of state for reproductive health care — including abortions — was used just 12 times from June to December last year, the Pentagon said Tuesday.

Defense Secretary Lloyd Austin instituted the policy after the Supreme Court overturned Roe v. Wade in 2022 to ensure that troops who were assigned to states where abortions or other types of health care such as IVF treatment were no longer provided could still access those services.

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The policy sparked outrage in some circles and led Alabama Republican Sen. Tommy Tuberville to hold up hundreds of military promotions for months in a failed attempt to get the Pentagon to rescind it. Tuberville ultimately withdrew all of his holds in December.

The travel policy was used by service members or their dependents 12 times during that seven-month period at a cost of roughly $40,000, Pentagon deputy press secretary Sabrina Singh said Tuesday. The money covered lodging, meals and transportation for out-of-state travel to receive care.

The Pentagon said it did not have data on the first five months of 2023 because the services did not establish a way to track those uses when the policy was first implemented.

The policy does not cover the cost of abortions, and it's not clear how many of the 12 trips were for abortions or other type of reproductive health care, such as IVF treatment. Singh said the Pentagon would not have a specific breakdown of what services were sought by the service members or their dependents due to medical privacy issues.

Under federal law, Defense Department medical facilities can perform abortions only when the life of the pregnant person is at risk or in cases of rape or incest, and those instances have been extremely rare. According to the department, there were 91 abortions performed in military medical facilities between 2016 and 2021.

For months, many of the military officers directly affected by Tuberville’s holds declined to speak out, for fear any comments would be seen as political. But as the pressures on their lives and the lives of the officers serving under them increased, they began to speak about how the uncertainty surrounding their next move was hurting not only them but their children and spouses.

They talked about how some of their most talented junior officers were going to get out of the military because of the instability they saw around them, and about how having to perform multiple roles because of so many vacancies was putting enormous additional stress on an already overworked military community.

The issue came to a head when U.S. Marine Corps Commandant Gen. Eric Smith suffered a heart attack in October, just two days after he’d talked about the stress of the holds at a military conference. Smith fully returned to his duties only in the last few weeks.

Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

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Local 4 News at 5 -- March 26, 2024

Family demands justice in 2022 drive-by shooting that killed detroit father of 2, mega millions jackpot reaches $1.1 billion, detroit prepares as 2024 nfl draft 30 days away, watch: local 4 news, first at 4 p.m. : mar 26, 2024.

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The Best Cleaning and Organizing Deals From Amazon’s Big Spring Sale

Spring has sprung—which means it’s time to crack your windows, soak up some sunshine, and maybe, just maybe, tackle a few spring-cleaning projects.

Wirecutter journalists think about cleaning and organizing year-round, recommending all the best tools and methods that leave your space feeling fresh. The only thing better than having cleaning supplies that get the job done is stocking up on them at a discount.

We’ve rounded up the best deals on some of our favorite cleaning and organizing supplies below.

A sleek shoe rack

Yamazaki Home Tower Shoe Rack — Upgrade Pick Amazon deal price: $94 ; street price: $115

The durable, investment-worthy Yamazaki Home Tower Shoe Rack  is stylishly sleek enough to display in your entryway and slim enough to tuck away in a closet if you’d rather keep your kicks out of sight. It can store up to 24 pairs of adult-size shoes on its five shelves (plus the space on the floor underneath). The top of the rack can also double as an entryway shelf, and the tower includes two hooks on the side for hanging keys or an umbrella. The shoe rack is currently on sale only in white.

Read our review of the best shoe racks .

A vacuum that doesn’t suck

Roborock Q5+ Robot Vacuum — Our Pick Roborock deal price: $370 ; street price: $550

A self-emptying robot vacuum allows you to tackle other chores while it goes around your house sucking up debris and dirt. Compared with other robot vacuums we tested, our top pick, the Roborock Q5+ Robot Vacuum , offers better battery life, app navigation, mapping, and voice-command response. It’s excellent at cleaning hard floors and low- to medium-pile carpet. Like nearly all of its competition, it struggled to pick up debris near thresholds and baseboards in our tests. The Roborock Q5+ comes with a charging station that empties debris into a disposable bag. Use the code ROBOROCKS for the deal price.

Read our review of the best robot vacuums .

A high-security shredder

Amazon Basics 8-Sheet High-Security Micro-Cut Shredder with Pullout Basket — Top Pick Amazon deal price: $62 ; street price: $69

Mail and documents with personal information can pile up quickly, and it can be easy to let them just lie around if you’re not sure how to securely dispose of them. Opting for a high-security shredder—such as our top pick, the Amazon Basics 8-Sheet High-Security Micro-Cut Shredder with Pullout Basket —can help you micro-cut documents with ease. It can run jam-free for nearly 10 minutes without overheating, and it includes a separate CD/DVD shredding slot. This shredder is slightly larger than other eight-sheet shredders with lift-up tops, but its functionality is worth the extra space it occupies.

Read our review of the best paper shredders .

A lopper for too-big branches

Fiskars 28″ Power-Lever Bypass Lopper — Also Great Target deal price: $20 ; street price: $23

Spring is the perfect time to give your outdoor spaces some love. If you have branches that need pruning, the Fiskars 28″ Power-Lever Bypass Lopper may be able to help you tackle those that are too big for your average pruners. It works more quickly than a saw, and it’s long enough to prune harder-to-reach branches just as easily as the low-hanging ones.

Read our review of garden gear to clean up your lawn .

A secure lockbox

Barska Compact Medication Lock Box — Upcoming Pick Amazon deal price: $41 ; street price: $51

If you’re reorganizing your medicine cabinet, it might be a good time to also invest in a lockable box to keep prescriptions and other medications safe from the little ones in your home. The Barska Compact Medication Lock Box is a wall-mounted metal lockbox that we’ll be recommending in our upcoming guide to keeping your stash—whether it’s marijuana or something else—secure. This mountable lockbox can accommodate pill bottles of all sizes and heights, along with other first-aid resources. It can also sit on a countertop, though we know that its stark-white metal style isn’t for everyone. Make sure to clip the on-page coupon for the deal price.

A quick fashion fix

Homeasy Fabric Shaver — Our Pick Amazon deal price: $22 ; street price: $25

Instead of replacing your closet staples, consider investing in some laundry aids that can help your clothes last a bit longer. The Homeasy Fabric Shaver is our top-pick electric fabric shaver for big jobs, such as de-pilling and de-fuzzing sweaters in need of some TLC after a long winter. It features six sharp blades, a wide head, and intuitive controls, and it proved very effective during our testing. It’s quiet, comfortable to hold, capable of lasting up to six hours on a full charge, and USB rechargeable. The deal price is about $2 higher than the lowest sale price we’ve seen, but this deal is still a good value.

Read more about the best cheap(ish) laundry aids .

This article was edited by Elissa Sanci.

Meet your guide

Gabriella DePinho

Gabriella DePinho is an updates writer at Wirecutter. Previously, she worked at NBC News writing about deals and product launches. She loves working in product recommendation but personally hates shopping—and she knows that doesn’t make sense.

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