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Travelex cash passport buyer beware!

Paris, France
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Travelex cash passport buyer beware!

Hi guys,

I will not be using cash passport anymore, after more than a year of use with very mixed results.

It has been 30 days since I used my card to stay at a very reputable hotel, the pre-authorisation has taken this long to be released and by no fault of the hotel. As a result I have been without about 1000 AUD equivalent in funds for the entire trip.

Travelex has blamed the hotel saying it requires a personal letter signed by the manager including very specific information that a hotel would never release for confidentiality. Without such a letter all pre- authorisations take 30 days to remove. The hotel has followed all protocols sent numerous faxes to their vendor, confirmed multiple faxes sent. Travelex is now claiming to have lost at least three faxes.

This is a nightmare, the information provided by travelex has been different on four different phone calls I have made to them.

I understand canstar has rated it, but my friends qantas card was giving better exchange rates, zero reload fee (1% for Cash passport) takes half as long to reload, expect 4 working days. The only positive was the ATM fees are zero. You save very little over 5-10 withdraws compared with the above.

rural West Aussie
Destination Expert
for Perth
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11. Re: Travelex cash passport buyer beware!

Just a hint- the 28Degrees MasterCard isn't just good for travel. If you make overseas purchases on the internet it's also useful :-)

Sydney, Australia
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12. Re: Travelex cash passport buyer beware!

The Qantas cash card is as bad as all the other travel cards. Go to the Qantas web site an find out how many euros (for example) you would get on the card for $100. Then go to Google and search 100 AUD IN EUR. The difference is the fee you pay for using the Qantas card.

Cairns, Australia
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14 posts
3 reviews
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13. Re: Travelex cash passport buyer beware!

My Qantas Cash Card is pretty much like any other Cash passport. Load Multiple currencies and use it that way. It has my Qantas Club membership on one side and the cash facility on the other side of the card. Use it overseas like you would a Travel card, in aust use it to collect frequent flyer points when you shop.

rural West Aussie
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for Perth
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22,013 posts
69 reviews
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14. Re: Travelex cash passport buyer beware!

But as SydneyNick points out, like any other Cash Passport it has a lousy exchange rate to disguise the "no fees". So it ends up being an expensive way to exchange money.

Melbourne, Australia
Destination Expert
for Sydney, Bargain Travel, Food and Travel
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15. Re: Travelex cash passport buyer beware!

I'm a QF loyal unfortunate, but I think they could have spent the money they used for the 'chipped cards on other things.

Sydney, Australia
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for Train Travel
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16. Re: Travelex cash passport buyer beware!

I think Qantas assumed that enough people would use the cash passport aspect of the card, and that profits from this would be much more than the cost of a chip card.

By my rough calculation, if someone loads $100 onto a Qantas card, the exchange rate profit would more than pay the cost of the card.

Melbourne, Australia
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for Sydney, Bargain Travel, Food and Travel
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17. Re: Travelex cash passport buyer beware!

I guess I can see *their* logic.

Perhaps they may have underestimated the knowledge of the consumers - especially in this day and age. It'll be interesting to see statics on this.

Well it's a case of X number of cards issued minus one - and that one is me.

Sydney, Australia
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for Train Travel
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87,457 posts
13 reviews
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18. Re: Travelex cash passport buyer beware!

>>Perhaps they may have underestimated the knowledge of the consumers<<

I am not optimistic about this, given the number of posts from people who have swallowed the advertising that travel cards are a great deal.

Even bank staff don't know about the costs. A while ago, my wife was talking to someone in an NAB branch, who was trying to get her to buy a travel card and was saying that the fee was only 1%. My wife said she had investigated the exchange rate and it was 5% below the inter-bank rate, so there was an effective fee of 6%. The bank clerk was genuinely shocked.

Cairns, Australia
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14 posts
3 reviews
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19. Re: Travelex cash passport buyer beware!

I agree whole heartedly. Just applied for a citibank plus and the 28 degrees. The Qantas Cash Card is only for backup, and for getting me into the lounge. Though i am yet to be asked for it an any lounge yet.

Sydney, Australia
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34 posts
3 reviews
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20. Re: Travelex cash passport buyer beware!

I am surprised at the comments re exchange rates, I am travelling soon, and have been monitoring the exchange rates on all cards, and QF is by far the best. Am I missing something?