Prepaid & Travel Money Card Comparison - Australia

Friday, September 18, 2009

Prepaid cards are fast gaining popularity for travel and regular use. These can be used to make credit card like payments on your holiday or to budget your spending. Yet, unlike credit cards, they are easier to obtain and have no side affects of the former, such as, debt and bad credit. To help you find the best travel money deal we have compiled this report comparing prepaid cards from leading providers in Australia.

note If you are considering getting one, it helps to understand prepaid cards, as they come with specific features and shortcomings.

note Unless mentioned otherwise, all charges shown in this report are in Australian Dollar.

Australia and New Zealand Bank (ANZ)

  • ANZ Travel Card:
    BPAY Biller Code 25700
    Issuance fee $11
    Initial load fee No charge
    ATM withdrawal fee US$2.20, GB£1.25, €2.10, NZ$3.50, CA$2.80, HK$19.25, INR122.00
    Monthly inactivity fee† US$3.00, GB£1.50, €2.50, NZ$4.00, CA$3.40, HK$22.00, INR140.00
    Reload fee 1.1% of reload amount
    Full withdrawal &
    card closure fee    		 No charge
    Purchase transaction fee No charge
    Balance enquiries No charge
    Overseas card replacement $35.00
    † after 12 months of inactivity

rank 4

Bank of Queensland

  • BOQ Cash Passport (Travelex)
    BPAY Biller Code 50179
    Issuance fee No charge
    Initial load fee 1% of value purchased (min. $10)
    ATM withdrawal fee AU$3.75, US$2.25, GB£1.50, €2.20, NZ$4.00
    Monthly inactivity fee† AU$4.00, US$2.00, GB£1.50, €2.00, NZ$4.80
    Minimum amount AU$250.00, US$200.00, GB£100.00, €100.00, NZ$300.00
    Maximum amount AU$25,000.00 (or equivalent)
    Reload fee 1% of reload amount (min. $10)
    Balance enquiries AU$0.75, US$0.50, GB£0.35, €0.40, NZ$0.95, CA$0.65
    Full withdrawal &
    card closure fee    		 Administration fee
    Overseas card replacement NA
    † after 12 months of inactivity

rank 2

Commonwealth Bank

  • Travel Card:
    BPAY Biller Code 113167
    Issuance fee $15
    Initial load fee No charge
    ATM withdrawal fee AU$3.50, US$2.50, GB£2.00, €2.20, NZ$4.50, CA$3.00
    Monthly inactivity fee† AU$3.00, US$2.00, GB£1.50, €2.00, NZ$4.00, CA$2.50
    Maximum amount AU$25,000.00 (or equivalent)
    Reload fee 1% of reload amount
    Full withdrawal &
    card closure fee    		 No charge
    Purchase transaction fee No charge
    Balance enquiries AU$0.75, US$0.50, GB£0.35, €0.40, NZ$0.95, CA$0.65
    SMS balance alert fee AU$0.50, US$0.35, GB£0.25, €0.30, NZ$0.70, CA$0.45
    Overseas card replacement AU$60.00, US$40.00, GB£30.00, €35.00, NZ$75.00, CA$50.00
    Cross currency conversion fee 2% of transaction value
    † after 12 months of inactivity

rank 3

National Australia Bank (NAB)

  • NAB Cash Passport (Travelex)
    BPAY Biller Code 50179
    Issuance fee 1.1% of AU$ equivalent (min. $10)
    Initial load fee No charge
    ATM withdrawal fee AU$3.75, US$2.25, GB£1.50, €2.20, NZ$4.00
    Monthly inactivity fee† AU$4.00, US$2.00, GB£1.50, €2.00, NZ$4.80
    Minimum amount AU$250.00, US$200.00, GB£100.00, €100.00, NZ$300.00
    Maximum amount AU$25,000.00 (or equivalent)
    Reload fee 1% of reload amount
    Full withdrawal &
    card closure fee    		 Administration fee
    Balance enquiries No charge
    Overseas card replacement NA
    † after 12 months of inactivity

rank 2

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