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The Best Prepaid Travel Cards in 2024
Prepaid travel cards are a popular and convenient option to include in your wallet.
Travel money cards allow you to buy currency at a set exchange rate before you leave so you can withdraw money or make purchases overseas.
So how do you find out quickly where to get one of these prepaid cards?
To save you time, we have compared a large number of prepaid cards for overseas travellers to help you make the best decision.
The Best Travel Prepaid Cards:
Revolut Card Offer
Revolut Card Offer
Sign up and get a $15 top-up. For new customers only, T&Cs apply.
Wise Travel Card - Best 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 Card 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 intermarket 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.
Revolut - Low Fees
- 30+ currencies available
- One of the best exchange rates globally
- No international transaction fees
- No annual or monthly fees for standard membership
- No initial card fee
- Instant access to a range of cryptocurrencies
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
- No international transaction fees
- Lock in up to 10 currencies
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.
Citibank Plus Everyday Prepaid Card
Best Features
- 10 currencies available to hold or spend at competitive rates
- No monthly fees
- No initial card fee
- No foreign transaction fees
- No ATM fees in Australia at major banks
- No ATM fees overseas at major banks
- Free bottle of wine at restaurants through Dining program
Citibank Plus Everyday Prepaid Card
- Up to 10 currencies through the Citi Mobile App for sending and receiving international payments in foreign currency at better rates than Mastercard
- Currencies are AUD, USD, EUR, GBP, CHF, CAD, JPY, NZD, HKD and SGD
- Works with Apple Pay and Google Pay
- Can be used wherever Mastercard is accepted
A Citibank Plus Everyday Card linked to a Citibank Global Account is a money saving tool to take overseas. Citibank currency conversion rates are very competitive for the banks being about 2% above the market rate. This means you can spend overseas and know you are getting a very good currency conversion rate.
In addition it has no fees for international purchases, account keeping, domestic or international ATMs. Finally you can send money overseas for free and get a free bottle of wine through the Citi Dining program.
HSBC Everyday Global Prepaid Card
Best Features
- No initial card or closure fees
- No monthly or account fees
- No international transaction fees
- No international ATM fees
- No cross currency conversion fees
- Lock in very competitive exchange rates before travel
- No maximum balance
- Earn 2% cashback
HSBC Everyday Global Prepaid Card
- 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
- Can be used wherever Visa is accepted
The HSBC Everyday Global Prepaid 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.
Learn more about the best travel money, credit and prepaid cards for travel
FAQs
Prepaid travel cards are cards you can use overseas to pay in local currency for all your purchase needs, from hotel bills to corner convenience stores. You buy the currency and place it on the card before you leave Australia. The currency exchange rate is set, so you know how much things will cost overseas with one exchange rate.
In addition with a prepaid travel card you can withdraw local currency from ATM’s marked with a Mastercard or Visa logo. You use your 4 digit pin, similar to Australia, to withdraw money overseas. The cards are like an Eftpos card overseas and if they are with Mastercard or Visa, you can use them almost everywhere.
The advantages of prepaid travel cards are that it is handy to have local currency stored on one card. The currency conversion rate is set, so you don't have to worry about exchange rate fluctuations while overseas. You are also spending your own money so no interest charges like with credit cards. Finally they are easy to reload, even when overseas.
Some prepaid travel cards charge hefty fees to withdraw cash from ATM’s. Not all currencies are covered on prepaid travel cards, so if you need to buy food or drink at a stopover country, your card might not work. Some prepaid cards have minimum top up loads and inactivity fees. Some prepaid travel cards charge to place money on the card.
A prepaid travel card works by placing money in different foreign currency accounts on that card. While you are travelling you can use the prepaid travel card to pay for accommodation, restaurants or transport like you would use a debit card in Australia.
If it is under $100 normally a tap will do but they might ask you for your pin and you enter your 4 digit pin. The funds are deducted from your account at the rate you locked in before you left. Alternatively if you choose a Wise card, the exchange rate you receive will be very close to the market rate.
Yes you can use a prepaid Visa card overseas. Visa is one of the two commonly accepted credit cards globally. It would be considered unusual if the vendor did not accept Visa for payment.
The best reloadable prepaid travel card is the Wise Multi Currency card because you can spend at close to market rate in over 40 countries. You can send money overseas at the lowest cost and receive money from overseas for free. In addition you can withdraw up to $350 a month for free. It is a low cost card with the best exchange rates globally.
While Travelex, Travel Money Oz, Australia Post and Cash Passport have offered value in the past, newer prepaid travel money cards do not charge the following:
- A charge a fee of “the greater of 1.1% or $15” to load the card at one point
- 2.95% ATM fee in Australia
- $3.50 ATM fee overseas
- 1% fee to reload with BPay
- $10 closure fee or non ATM cash out
- Have minimum and maximum loads
According to NerdWallet Mastercard gives the best currency conversion rates globally, giving better rates 70% of the time. This includes the major traded currencies such as the US dollar, Euro, Great British Pound, Australian dollar, Japanese yen, Hong Kong dollars, Canadian dollars, Singapore dollars, Swiss francs and New Zealand dollars. However Visa does give better currency conversion rate for Thai baht, Hungarian forint, Icelandic Krona and Tunisian dinar.
