Why use a travel money card

Aussies love to travel. So much so that the Australian Bureau of statistics reports Aussies as having made 9.7 million short-term departures in the last year. Whether your next trip is a last-minute jaunt, or a well-planned and long-saved for dream holiday, you’re going to want to get the best bang for your Aussie buck when it comes to foreign currency.

Travel money cards offer a great money alternative while on business or holiday trips overseas. Here are some pros to using a travel money card.

Travel money card pro’s 

Keep in mind - not all features listed may be available on all travel card products.

  • Load multiple currencies 
  • Lock in exchange rates at the time of loading cash onto card
  • Ability to easily access cash at most ATMs (ATM locations can be searched online)
  • A travel card is not connected to your transaction account which minimises the potential losses in the event of skimming or theft
  • Issued instantly over the counter and can be activated within two business hours
  • Additional funds can be added via multiple payment methods
  • Transactions can be reviewed online
  • Customer service is generally available 24 hours a day
  • Unused funds can be left on the card to be used on your next trip or cashed out.

Things to consider

As with any product there are a number of things to consider when signing up for a travel money card. This includes:

  • Locking in an exchange rate at the time of loading means you can benefit from the exchange rate at that time for the duration of your holiday. However, the flip side of this means you will miss out on any benefit should the Aussie exchange rate spike while you are travelling.
  • Travel money cards will not be accepted in the event a merchant only accepts cash. It’s important to research your destination and take a variety of payment options to ensure you can purchase without issues.
  • ATM charges will vary depending on the country you are in and the agent providing the ATM service.
  • You will be charged a currency conversion fee should you spend in a currency other than what is on the card.
  • If the card is inactive for over 12 months you will be charged an inactivity fee. 

For more information on travel cards visit the Cash Passport page. 

MasterCard Prepaid Management Services Australia Pty Limited (ABN 47 145 452 044, AFSL 386 837) arranges for the issue of the Multi-currency Cash Passport in conjunction with the issuer, Heritage Bank Ltd (ABN 32 087 652 024, AFSL 240 984). You should consider the Product Disclosure Statement for the relevant Cash Passport available at www.cashpassport.com.au before deciding to acquire the product. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.


The information provided to you is general and may not be appropriate for you. Conditions, criteria and fees apply to products. Please consider the Guide to Heritage Deposit Products or the Guide to Heritage Credit Card Products (available in-branch, by phoning 13 14 22 or at www.heritage.com.au) before you decide whether a product is right for you.

* Based on a $150,000 loan over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

The information provided is intended as general information only. Blogs have been prepared without taking into account your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness having regard to your objectives, financial situation or needs. You should consider obtaining personal investment, taxation and/or legal advice before making any decision.  Please consider the Guide to Heritage Deposit Products and Guide to Heritage Credit Card Products (available in-branch, or at www.heritage.com.au) before you decide whether a product is right for you. All loans and credit cards are subject to application and approval. Conditions, criteria and fees apply and are subject to change without notice.