ANZ Travel Card comes up trumps over credit cards overseas

Thursday 04 June 2009

Article by Mozo

The ANZ Travel Card is a cost-effective alternative to using credit cards while on your hols, the Sydney Morning Herald has found.

In a consumer test of the product in the US, the paper found that the pre-pay card can help to cut down the kind of transaction fees associated with credit cards both at ATMs and in stores.

The travel card works in a similar way to a debit card in that money is loaded on to the card prior to leaving the country. However, whenever you take out money, you should still select the credit option, even though you are using your own cash.

And while the paper found that the charges for ATM withdrawals are often more favourable than they are for credit cards, it advised: "Be aware, though, that the ATM’s owner may also charge its own fee."

The Travel Card can be used to stock up on seven different currencies before leaving the country, with pounds, euros, Hong Kong dollars and Indian rupees supported.

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