Best Travel Money Cards 2018

Congratulations to the winner’s of Mozo Experts Choice Awards for Travel Money Cards 2018. Whether you’re a frequent traveller or just looking for the best value money option for your upcoming overseas holiday, the Mozo Experts Choice winners list is a great place to start your search for a great value credit, debit or prepaid travel card.

Experts choice awards hero 2018

What are the Mozo Experts Choice Awards?

Now in their fifth year, the Mozo Experts Choice Awards provide a platform to highlight products in the marketplace we believe offer great value to Australians. For the 2018 travel money awards, Mozo’s money experts compared 314 travel money products from 89 financial providers.

There are several categories of travel money awards so that you can find the best option for your travel needs whether that’s for a 10 day family vacation or a 10 country tour. By starting your search here at Mozo you can quickly compare your options and know that no matter which option you choose, it’s been vetted by our Experts for delivering top value.

For details on how we crunched the numbers and determined the award winners see our methodology report.

Travel Money Bank of the Year: HSBC

HSBC

With the best performing products across all of the Travel Money categories in these awards, HSBC took out the coveted title of travel money bank of the year by Mozo’s money experts.

Travel Credit Card Provider of the Year: Bankwest

Bankwest

With an award-winning travel credit card across every category, for the second year running Bankwest has been named our Travel Credit Card Provider of the Year.

Travel Money Innovation: HSBC Everyday Global Account

Key features

  • Bank account and travel card in one

  • No transaction fees at home or overseas

  • Up to 10 currencies in the one account.

With the HSBC Everyday Global Account you can now live and pay like a local no matter where you are in the world. An everyday bank account that also let’s you load up to 10 currencies, make fee free overseas transcations online or in-person, and pay from your account anywhere Visa is accepted. It has no account fees and in addition to Visa payWave, you can also pay using Apple Pay or Google Pay.

Travel Credit Card

To find the best value credit card for people travelling overseas, Mozo’s money experts compared 189 credit cards in the Mozo database. 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.

28 Degrees
28 Degrees

Platinum Mastercard

0%

$0.00

21.99% p.a.

no

ANZ
ANZ

Rewards Travel Adventures Card

ANZ Rewards

0%

$225.00

20.24% p.a.

yes

Bankwest
Bankwest

Zero Platinum Mastercard

0%

$0.00

17.99% p.a.

yes

Bankwest
Bankwest

Breeze Platinum Mastercard

0%

$99.00

12.99% p.a.

yes

Bankwest
Bankwest

More Platinum Mastercard

Bankwest More Rewards

0%

$160.00

19.99% p.a.

yes

Bankwest
Bankwest

Qantas Platinum Mastercard

Qantas Frequent Flyer

0%

$160.00

20.49% p.a.

yes

Coles
Coles

Rewards Mastercard

flybuys

0%

$99.00

19.99% p.a.

no

HSBC
HSBC

Premier World Mastercard

Rewards Plus

2.00%

$0.00

19.99% p.a.

yes

Queensland Country Credit Union
Queensland Country Credit Union

Visa Credit Card

1.50%

$39.00

13.20% p.a.

no

Westpac
Westpac

Lite Card

0%

$108.00

9.90% p.a.

no

Rewards Travel Credit Card

We compared 100 rewards credit cards to find the best value credit card for Australians planning on travelling overseas in 2018. In addition to a rewards program, each card awarded must offer complimentary travel insurance requiring no more than a $500 spend on the card and have a 0% foreign exchange margin.

ANZ
ANZ

Rewards Travel Adventures Card

ANZ Rewards

0%

$225.00

20.24% p.a.

yes

ANZ Rewards

1.5 points per dollar on Visa, up to $2,000 per month, then
0.5 points per dollar on Visa, uncapped

Bankwest
Bankwest

More Platinum Mastercard

Bankwest More Rewards

0%

$160.00

19.99% p.a.

yes

Bankwest More Rewards

2 points per dollar on Mastercard, up to 400000 points per year

Bankwest
Bankwest

More World Mastercard

Bankwest More Rewards

0%

$270.00

19.99% p.a.

yes

Bankwest More Rewards

2.5 points per dollar on Mastercard, uncapped

Bankwest
Bankwest

Qantas Platinum Mastercard

Qantas Frequent Flyer

0%

$160.00

20.49% p.a.

yes

Qantas Frequent Flyer

0.5 points per dollar on Mastercard, up to 200000 points per year

Bankwest
Bankwest

Qantas World Mastercard

Qantas Frequent Flyer

0%

$270.00

20.49% p.a.

yes

Qantas Frequent Flyer

0.66 points per dollar on Mastercard, uncapped

Commonwealth Bank
Commonwealth Bank

Diamond Awards Credit Card

Commonwealth Awards

0%

$349.00

20.24% p.a.

yes

Commonwealth Awards

1.25 points per dollar on Mastercard, up to 1000000 points per year

Commonwealth Bank
Commonwealth Bank

Platinum Awards Credit Card

Commonwealth Awards

0%

$249.00

20.24% p.a.

yes

Commonwealth Awards

1 point per dollar on Mastercard, up to 150000 points per year

Platinum Travel Credit Card

Here’s the list of cards with platinum benefits that made the Mozo Experts Choice Awards list for 2018, 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.

28 Degrees
28 Degrees

Platinum Mastercard

0%

$0.00

21.99% p.a.

no

ANZ
ANZ

Rewards Travel Adventures Card

ANZ Rewards

0%

$225.00

20.24% p.a.

yes

Bankwest
Bankwest

Zero Platinum Mastercard

0%

$0.00

17.99% p.a.

yes

Bankwest
Bankwest

Breeze Platinum Mastercard

0%

$99.00

12.99% p.a.

yes

Bankwest
Bankwest

More Platinum Mastercard

Bankwest More Rewards

0%

$160.00

19.99% p.a.

yes

Bankwest
Bankwest

Qantas Platinum Mastercard

Qantas Frequent Flyer

0%

$160.00

20.49% p.a.

yes

Bankwest
Bankwest

More World Mastercard

Bankwest More Rewards

0%

$270.00

19.99% p.a.

yes

Bankwest
Bankwest

Qantas World Mastercard

Qantas Frequent Flyer

0%

$270.00

20.49% p.a.

yes

Commonwealth Bank
Commonwealth Bank

Platinum Awards Credit Card

Commonwealth Awards

0%

$249.00

20.24% p.a.

yes

Low Rate Travel Credit Card

We compared credit cards in our database with purchase interest rates below 15% to find this year’s top performers. The award was based on the foreign exchange fee applicable to an overseas spend of AUD $10,000.

Bankwest
Bankwest

Breeze Platinum Mastercard

0%

$99.00

12.99% p.a.

yes

Endeavour Mutual Bank
Endeavour Mutual Bank

Credit Card

3.00%

$48.00

10.99% p.a.

no

ME
ME

frank Credit Card

2.30%

$0.00

11.99% p.a.

no

Queensland Country Credit Union
Queensland Country Credit Union

Visa Credit Card

1.50%

$39.00

13.20% p.a.

no

Regional Australia Bank
Regional Australia Bank

Your Choice Credit Card

2.00%

$40.00

14.69% p.a.

no

SCU
SCU

Low Rate Visa Credit Card

2.00%

$30.00

10.49% p.a.

no

Teachers Mutual Bank
Teachers Mutual Bank

Credit Card

2.45%

$0.00

11.50% p.a.

no

Westpac
Westpac

Lite Card

0%

$108.00

9.90% p.a.

no

Foreign Currency Debit Card

In addition to being an everyday bank account, the HSBC Everyday Global Account allows the same functionality as a prepaid travel card. Using the same criteria as the prepaid travel card category we compared its rates and fees and as the total cost assessment placed it ahead of dedicated prepaid travel cards, it won a Mozo Experts Choice Award for Foreign Currency Debit Card.

HSBC
HSBC

Everyday Global Account

$0.00

$0.00

$0.00

0%

Prepaid Travel Card

To find Australia’s best value prepaid travel card, we compared 12 multi-currency prepaid travel cards available for Australian travellers. Our comparison was based on an initial load of USD $760, Euro €610 and NZD $1050. We assumed our traveller would make 2 ATM withdrawals in each currency and make purchases that would exhaust the remaining balance.

ANZ
ANZ

Travel Card

0.6945

0.6107

0.5520

$0

2.50 USD

Travel Debit Card

HSBC
HSBC

Everyday Global Account

$0.00

$0.00

$0.00

0%

ING
ING

Orange Everyday

$0.00

$0.00

$0.00

0%

Citi
Citi

Plus Transaction Account

$0.00

$0.00

$0.00

0%

Gateway Bank
Gateway Bank

Edge Account

$3.50

$0.00

$0.00

2.00%

Hunter United
Hunter United

Premium Access Account

$1.50

$0.00

$0.50

2.00%

Macquarie
Macquarie

Platinum Transaction Account

$0.00

$0.00

$0.00

0%

Macquarie
Macquarie

Transaction Account

$0.00

$0.00

$0.00

0%

Maitland Mutual Building Society
Maitland Mutual Building Society

Express Savings Account

$5.00

$0.00

$0.00

1.00%

RAMS
RAMS

Action Account

n/a

$0.00

n/a

n/a

UBank
UBank

USaver Ultra Transaction Account

$0.00

$0.00

$0.00

0%

Judging Criteria

Every day Mozo keeps track of thousands of products in banking, energy and insurance.

The Mozo Experts Choice Awards recognise travel money products such as credit cards, prepaid travel cards and debit cards that deliver exceptional value or benefits to consumers. Providers don’t pay to be in the running and we don’t play favourites. Our Judges base their decision on hard-nosed calculations of value, using Mozo’s extensive product database and research capacity.

Experts Choice Awards are awarded to the top 10% of products, up to a maximum of 10, that meet the selection criteria in each awards category.

FAQs

How many products were compared for the travel money awards?

In carrying out the Mozo Experts Choice Awards in Travel Money, we analysed 314 products issued by 89 Australian providers based on data contained in Mozo’s product database as at 23 March 2018.

What’s the difference between a prepaid travel card and a travel debit card?

With a prepaid travel card you have the ability to preload foreign currency on to the card. Some cards will allow you to load up to 10 currencies. This card is generally not directly linked to a bank account, it is a standalone card. Most debit cards on the other hand are directly linked to your Australian bank account. When you make purchases overseas, the money is converted from the currency of purchase to AUD and then withdrawn from your linked bank account.

Whether you opt for a prepaid card or a travel debit card will generally depend on your travelling needs. If you travel overseas infrequently then a prepaid travel card could be your perfect travel money match as it will allow you to save on overseas ATM and foreign exchange fees. If you travel frequently or will be taking an extended holiday and want more regular access to your funds in Australia, a travel debit card could be a better choice.

Low rate, platinum or rewards travel credit card, which one should I choose?

Finding the best plastic match for you is going to come down to your travel needs and spending habits. Choosing a low rate card before you board the plane, can help you limit the amount of interest you will have to pay, should you go a little overboard with the spending, and you can’t pay back the balance in full when you get home.

A rewards card has its perks, like frequent flyer miles and concierge services, but only as long as you are going to pay back that balance pronto on your return because these card generally have the highest credit card interest rates. A rewards card will generally also have a higher annual fee but it if it comes with extras like complimentary travel insurance it could be worth it, especially if you travel overseas more than once a year.

Who are Mozo’s product experts?

Mozo has been researching and comparing financial products since 2008, and thousands of Australians use our comparison services each month. Our research team is headed by our Data Services Director and our Product Data Manager who have over 50 years of financial services experience and 23 years experience in online financial comparison.

Where can I find more detail about the criteria used to judge the awards?

You can find details of the awards and the providers included in our analysis in our methodology report.

I work for a financial provider, how can I find out about promoting our award?

Please get in touch with us to discuss by emailing or phoning our advertising sales team on 02 9037 4368.