Australia's Best Travel Money Cards

At Mozo, we’re passionate about getting Australians a better deal on their finances and the Experts Choice Awards provide us with a platform to highlight travel money products in the marketplace that we believe offer great value to Australian consumers. See below the prepaid, credit card and debit cards awarded Mozo Experts Choice Travel Money Awards in 2017.

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Experts choice awards hero 2017
Best value Travel Credit Card

We compared 183 credit cards to find the best value credit card for people travelling overseas. Awards were based on the foreign exchange fee applicable to an overseas spend of AUD $10,000 and the annual fee after the first year of card ownership. See here for full methodology.

We compared 183 credit cards to find the best value credit Read more...

Best Value Rewards Travel Credit Card

We compared 111 rewards credit cards to find the best value credit card for people travelling overseas. Awards were based on the foreign exchange fee applicable to an overseas spend of AUD $10,000, then the value of the rewards points on this spend was deducted from the annual fee.

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Best Value American Express Rewards Travel Credit Card
Best Value Platinum Travel Credit Card

Mozo compared 76 platinum credit cards in our database to find the top performers based on the foreign exchange fee applicable to an overseas spend of AUD $10,000.

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Best Value Low Rate Travel Credit Card

Mozo compared 71 credit cards in our database with interest rates below 15% to find the top performers based on the foreign exchange fee applicable to an overseas spend of AUD $10,000.

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Best Value Prepaid Travel Card

To find Australia’s best value prepaid travel card, we compared 11 multi-currency prepaid travel cards available for Australian travellers. Based on an initial load of approximately $3000 AUD, split equally across USD, Euro and New Zealand Dollars, we assumed our traveller would make 2 ATM withdrawals in each currency and purchases that would exhaust the remaining balance.

To find Australia’s best value prepaid travel card, we Read more...

*Rates updated daily

Best Value Travel Debit Card

We compared 99 bank accounts in the Mozo database with debit cards that offer the best value for people travelling overseas. To qualify there must be no monthly account service fee or regular fee for holding a debit card.

We compared 99 bank accounts in the Mozo database with debit Read more...

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About the Mozo Experts Choice Awards

For the Mozo Experts Choice Travel Money Awards, we considered the 3 primary methods of accessing funds while on an overseas holiday: prepaid cards, credit cards and debit cards.

Mozo has been researching and comparing financial products since 2008, and hundreds of thousands of Australians use our comparison services each month. Our research team is headed by our Research & Insights Director and our Product Data Manager who have over 50 years of financial services experience and 21 years in online financial comparison.

More information on the methodology and awards criteria can be found here.

Best Travel Money tips

When travelling overseas, you’ll want to have a couple of money options on hand. Our money experts have identified the best value products to keep in your wallet that will mean more spending money for you and less bank fees.

Choosing which option is best for you will come down to your spending and travel habits.

  1. Frequent traveller If you travel internationally more than a few times a year (lucky you), then reducing the amount of foreign exchange fees you pay should be a priority. If you have to pay a 3% foreign exchange fee once a year it might not be a big issue but if you are paying this kind of fee regularly the charges will add up. You’ll want to look for a credit card that doesn’t charge foreign exchange fees.

  2. Annual holiday For the annual resort-style holiday where you are sticking to the one currency a prepaid travel card could be your best money bet. Prepaid cards allow you to lock in your exchange rate before you travel so this means you’ll know exactly how much you are spending. They are convenient and can be used wherever Visa or MasterCard are accepted. They also don’t require you to open an account or pass any credit check to get one, you can order them online or visit a bank branch.

  3. Multicountry mega tour Another key factor in deciding which travel money option could be the length of your intended time away. Banks charge high fees for overseas ATM withdrawals so if you are going be making frequent cash withdrawals you’ll want to look for a travel debit card or prepaid card that doesn’t charge fees for these.

    Many bank accounts have overseas ATM fees around $5 so if you’re away for 12 weeks and you make 3 withdrawals a week that’s $180 in fees.

    Prepaid travel cards can be great to help you budget while overseas as you preload the currency before to take off so you know exactly how much you will spend but most prepaid cards have high cross currency conversion fees so be sure that you only use the card in currencies loaded on the card. For instance if you make a purchase in Hong Kong on your way to Europe but you only have EUROS loaded on the card, it will cost you more.

  4. Credit card repayments If you are going to be away for longer than your credit card statement period, set up an automatic repayment before you go so that you don’t forget a payment and get charged a late payment fee or worse, have your card suspended while you’re overseas. The good news is that with internet banking you can most likely even log-in while you’re away.

    Looking for more travel tips? Head on over to our Travel Hub or try our travel insurance comparison tool to get the best value travel insurance for your trip.