Compare Prepaid Travel Cards
These cards are offered by banks including ANZ and HSBC, and by
Travelex. Before leaving, you pay money into the card account and you
use it for purchases and cash withdrawals as per a debit or credit card.
For foreign currencies (not Australian dollars) you can "lock in" your
exchange rate (including the exchange rate margin - see below) when you
load money on to the card. These cards can be replaced if lost or
stolen.
A major difference between prepaid cards and debit/credit cards is their fees. Some costs aren’t immediately apparent, such as margins built into the exchange rates applied to transactions. While you won’t pay an annual fee or interest, you may pay:
A major difference between prepaid cards and debit/credit cards is their fees. Some costs aren’t immediately apparent, such as margins built into the exchange rates applied to transactions. While you won’t pay an annual fee or interest, you may pay:
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