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I've written previously about the various ways of accessing your spending money whilst overseas but after recent trips to Europe and the release of the latest report by CANSTAR, I thought it timely to provide some more information about travel money cards. Travel Money Cards, also referred to as Cash Passports, are debit cards that allow you to pre-purchase foreign currencies before you start your holiday. The biggest advantage is that you are using your own money - pre-paid before you leave home - so you're not in for any nasty credit cards bills on your return.
By pre-loading the funds on to your Travel Money Card, you lock in the exchange rate at the time of purchase so if the rate drops whilst you are away, you won't be affected. Conversely, if the exchange rate improves after you've loaded your card, you won't benefit. Most major Ozforex travel card rates institutions, as ozforex travel card rates as our two major airlines, now ozforex travel card rates Travel Money Cards, each slightly different in their name and fee structure. Should you ozforex travel card rates running short of funds whilst you are away, additional funds can be loaded onto the card via BPAY.
The downside to many travel money cards is that fees are charged each time funds are withdrawn from an ATM currently AUD3. Browse the card's features here. On a subsequent trip, I used the OzForex Travel Money Card as my comparisons showed it to be better value as the exchange rates ozforex travel card rates when loading money on to the card initially were much more favourable.
It can also be purchased onlinemaking it even more convenient. Read my article about the new Travelex Money Card here. My trip to Europe certainly re-affirmed to me the value of travel money cards. As I was only going to be away in Europe for two weeks and had pre-paid all of my accommodation, transport and most of my sightseeing, I decided not to take my travel money card with me and instead just use my regular ATM card to withdraw cash when needed.
It was a costly decision! You can see how easily bank fees could add up on a trip of four to five weeks. There are many different travel money cards to consider before you travel overseas so be sure to read the terms and conditions that apply to each card. At the end of the day, they all work the same in that you pre-load the amount of currency of your choice onto a card before travel, locking in the exchange rate in advance.
I highly recommend you consider a travel money card for your next overseas holiday, and you can check the pros and cons of the various providers' travel money cards on the CANSTAR report June report. E-mail required, but will not display. Notify me of follow-up comments. Tips and Inspiration for your European holiday.
Sign up for my monthly newsletter. Which Travel Money Card is best? Ozforex travel card rates you used a travel money card when travelling overseas? What do you see as the advantages and disadvantages? So bad, I queried it with them - to no avail. A case of buyer beware! That's really good to know. It sounds like it's definitely worth withdrawing all the funds on ozforex travel card rates card and spending the money before you return home if you're using the Velocity Global Wallet.
I use a Multi-Currency Cash Passport which is excellent if you are travelling in countries which use the currency you have loaded onto the card as there are no ATM fees and you can keep track of your balance. If you use this card in another country; ie Croatia KunasI ended up paying 5. You can make a quick purchase on the card to activate it again for another 12 months.
I take a mix of cards and cash just in case. Tricia Dakin I tend to ozforex travel card rates a mixture of cash, debit, credit card and travel money card. Changing money in the county you go to generally gets a better exchange rate than changing before you go.
Naturally you need to change some before you fly but normally only a fraction should be changed. I travel a lot and normally just change what I need to survive a few days and then change in country. Refresh comments list RSS feed for ozforex travel card rates to this post. The chocolate lover's guide to Europe. Essential tips for surviving the flight to Europe with kids.
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