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using Australian travel money card in the UK

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using Australian travel money card in the UK

Has anyone recently used a travel money card from an Australian bank, in the UK? If so, were there any problems?

Adelaide, Australia
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1. Re: using Australian travel money card in the UK

Last year travelled in Europe with a Travelex cash passport card, and used at VISA ATM's with no problems.

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2. Re: using Australian travel money card in the UK

Why would you pay to put your money onto one of these cards? The exchange rate is usually poor, and there are various fees and charges.

Get a debit card that can be used internationally, and use it to get money out of your bank account, just like you do at home.

Remember: the travel money cards were introduced to make money for the companies that issue them, not to make life easier for travellers.

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3. Re: using Australian travel money card in the UK

Nick I bought Euro on the card in Australia, when the days exchange rate was good and used the card when I needed.

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4. Re: using Australian travel money card in the UK

Exactly, I put my money on an ANZ Tavel Card card in Australia. The rate is locked in at the time you put it on. There are also no currency exchange fees every time you use it, because you are actually using pounds (or Euros, etc)

I have already got my Euro Travel card for my trip this year. So I will use the pounds in London & the Euro cad throughout Europe.

I found it great & had no problems.

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5. Re: using Australian travel money card in the UK

they are an expensive option especially when the $a continues to gain ground. and for those that think that there are no currency exchange fees, think again. they were already built into the fixed rate u bought your foreign currency at. i agree with nick, too many charges and a poor fx to start with.

only benefit may be when the $a is radically losing ground otherwise a normal atm card is the best.

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6. Re: using Australian travel money card in the UK

>>I bought Euro on the card in Australia, when the days exchange rate was good and used the card when I needed.<<

But the rate you got when you bought the euros was not good. And what if the AUD had gone up against EUR?

Disregarding movements in the exchange rate, which are unpredictable*, you do better using a debit card in an ATM.

*If I could predict exchange rates, I would be travelling the world first-class instead of posting on TA.

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7. Re: using Australian travel money card in the UK

Thanks, everyone. Seems to me it's six of one, half a dozen of the other, when you consider that if you use a debit card or your normal ATM card you will be hit up with conversion fees, withdrawal fees anyway.

Also, I've heard you cannot withdraw large sums of money at some UK ATM's...some will only allow you to withdraw 200GBP in one go. Has anyone found this to be the case? If so, you would be constantly at the ATM's. Any thoughts?

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8. Re: using Australian travel money card in the UK

I being a cattle class traveller and not a financier, I travel to what makes me comfortable, and let others worry about exchange rates!

Melboune
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9. Re: using Australian travel money card in the UK

As Kiwicurls says, there seem to be exchange rate margins and fees whether you use an ATM card or a travel money card. However, sometimes we see British travellers being recommended to use a particular brand of debit card coz it doesn't charge "foreign" ATM fees when used at certain ATMs in Australia. Even though within Australia we don't get so many of these fees from our own bank these days (instead we get them from the ATM owner), my understanding is that we still have to pay "foreign" ATM fees to our banks when we use our debit cards overseas. Are all the banks the same in this regard, or is one better than the others?

-- G

PS - one example of a good deal is a Commonwealth debit card when used at the CBA's New Zealand subsidiary - the fee is much lower. Doesn't work for ANZ, though!

Edited: 11 January 2010, 10:38
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10. Re: using Australian travel money card in the UK

I used a cash passport several years ago in Italy. The biggest problem I found was that I was unsure of the balance and didn't investigate through the internet what that balance might be. Also if there are any Euro's left on the card it costs to exchange them back into Aussie $'s. A bit of a double whammy by the bank.

If you are using a debit card just get a Visa debit card and take out large sums of Euro's at a time. Not worth it if your going to hit the ATM for 20 - 40 euros a day as the fees will be too high as your charged a fee with each transaction. Perhaps then use the Cash passport as emergency money. You can also top them up from another bank account.

Oscar