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The Commonwealth Bank Travel Money Card is a handy prepaid travel card if you are visiting multiple countries on your holiday as it allows you to load up to six currencies on the one card. You can also transfer funds between the currencies for free while travelling and monitor your balance online or over the phone 24/7.
Key features: The Commonwealth Bank Travel Money Card is accepted wherever Mastercard is, and can be used internationally at shops, restaurants, at overseas ATMs and for online purchases.
The card has a standard purchase fee of $15 and it is one of the few prepaid travel cards on the market that does not have an inactivity fee so you can keep the card until your next trip if you have money left on the card (but make sure you check the cards expiry date as they do expire at some point.)
There is a 2% cross currency conversion charge if you transfer between currencies while travelling but the smart card feature means that it will always use the currency of the country in which the transaction is made first, as long as that currency is loaded on the card.
Who it's good for: Prepaid travel cards are great for the budget conscious traveller as they allow you to set a travel budget and stick to it without the temptation of going into debt over that ?must do? romantic sunset cruise with 50 other tourists.
You don't have to be a Commonwealth Bank account holder to get a Travel Money Card which makes this a good prepaid card choice for anyone who is visiting more than one country on their trip.
If you want to use your travel card solely for online international shopping you can load the travel card up in several currencies and then go on a global shopping spree knowing exactly what exchange rate to use when comparing costs.
Any catches? The initial card purchase does come with a back-up card but if you're the type of person who forgets to empty your pockets before doing the wash or has a tendency to misplace things (like hotel room keys) you could be up for some extra fees. Out of all the prepaid travel cards in the market, the Commonwealth Bank Travel Money Card has the highest replacement fees if your original cards are lost or stolen.
Compare other prepaid travel cards
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