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Amex has responded to competition heating up in the prepaid travel card market by saying goodbye to cross currency conversion fees. Leading prepaid travel card competitors Ozforex, Qantas Cash and Velocity Global Wallet had an edge over Amex in their ability to host a wider breadth of currencies on their cards, but no more.
Recent arrivals to the prepaid travel card market from the Airlines are heating up the competition for travelers foreign dollars. With more than a dozen prepaid travel cards now available in the Australian market and new additions all the time, overseas travelers now have plenty more attractive options than taking the travel card on offer from their bank.
The Australian dollar has dipped below 92 US cents for the fist time in two and half months after RBA governor Glenn Stevens said he was considering intervention to lower the exchange rate.
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