Travel Money Card Awards 2019

Congratulations to the winners of Mozo Experts Choice Awards for Travel Money Cards 2019. 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 2019

What are the Mozo Experts Choice Awards?

Now in their sixth year, the Mozo Experts Choice Awards provide a platform to highlight products in the marketplace we believe offer great value to Australians. For the 2019 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 approved by our Experts for delivering top value.

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

Prepaid Travel Card

To determine the winner in this category the judges ran calculations on 11 prepaid travel cards. This considered exchange rates for purchasing USD, EUR and NZD foreign currencies equivalent to around AUD$1,000, then costs for 2 ATM withdrawals in each currency, as well as purchases to completely use the money loaded. The best value option was chosen as the winner.

Westpac logo
Westpac

Global Currency Card

Foreign Currency Debit Card

Some banks now offer multi-currency that allow money to be held in various currencies that you can access while overseas. The judges assessed exchange rates along with any fees that might apply using the same scenario as for Prepaid Travel Cards, then crowned the lowest cost option as winner.

Citi logo
Citi

Global Currency Account

Travel Debit Card

These days almost everyone has a debit card attached to their bank account which can be used as an easy option for accessing money while overseas. The fees can vary greatly though, so for this category, the judges found the bank accounts that don’t charge a monthly fee, as well as what fees would apply for spending AUD$2,000 via a combination of four ATM withdrawals and 20 purchases when overseas.

Citi logo
Citi

Plus Transaction Account

ING logo
ING

Orange Everyday

Macquarie logo
Macquarie

Platinum Transaction Account

Macquarie logo
Macquarie

Transaction Account

UBank logo
UBank

USaver Ultra Transaction Account

Travel Credit Card

To find the best credit cards to have when heading overseas the judges looked at the total cost of any annual fee charged for holding the card, as well as the cost of currency conversion fees on a total spend amount of AUD$10,000.

28 Degrees logo
28 Degrees

Platinum Mastercard

Bankwest logo
Bankwest

Breeze Platinum Mastercard

Bankwest logo
Bankwest

Zero Platinum Mastercard

Coles logo
Coles

Rewards Mastercard

Skye logo
Skye

Mastercard

Westpac logo
Westpac

Lite Card

Platinum Travel Credit Card

Platinum cards come with a bunch of luring perks, but beyond that you still have to consider the cost of using the card. For this category the judges looked at the cost of the annual fee and using the card overseas to out find which Platinum cards were easiest on the wallet.

28 Degrees logo
28 Degrees

Platinum Mastercard

ANZ logo
ANZ

Rewards Travel Adventures Card

Bankwest logo
Bankwest

Breeze Platinum Mastercard

Bankwest logo
Bankwest

More Platinum Mastercard

Bankwest logo
Bankwest

More World Mastercard

Bankwest logo
Bankwest

Qantas Platinum Mastercard

Bankwest logo
Bankwest

Qantas World Mastercard

Bankwest logo
Bankwest

Zero Platinum Mastercard

Commonwealth Bank logo
Commonwealth Bank

Platinum Awards Credit Card

Low Rate Travel Credit Card

A credit card should offer good value all year round. For this category, only cards with a purchase interest rate of less than 15% were considered. For cards that qualified, the judges calculated the cost of annual fees and overseas currency conversion fees on a spend of AUD$10,000 to find the which ones offered best bang for your buck while travelling.

Bank First logo
Bank First

Visa Classic Credit Card

Bankwest logo
Bankwest

Breeze Platinum Mastercard

ING logo
ING

Orange One Credit Card

ME logo
ME

frank Credit Card

Queenslanders Credit Union logo
Queenslanders Credit Union

Visa Credit Card

Queensland Country Credit Union logo
Queensland Country Credit Union

Visa Credit Card

Regional Australia Bank logo
Regional Australia Bank

Your Choice Credit Card

SCU logo
SCU

Low Rate Visa Credit Card

Teachers Mutual Bank logo
Teachers Mutual Bank

Credit Card

UniBank logo
UniBank

Credit Card

Westpac logo
Westpac

Lite Card

Rewards Travel Credit Card

Collecting points can be a great way to get something in return when using your credit card, particlularly when paying all the costs of a fancy trip. For this category, the judges gathered all cards that offer a rewards program and found those that don’t charge a margin on foriegn currency transactions, as well as including free travel insurance with as little as $500 spend to activate, having benefits of at least unlimited medical cover and at least $10,000 cancellation cover, just in case you get in a jam while travelling.

ANZ logo
ANZ

Rewards Travel Adventures Card

Bankwest logo
Bankwest

More Platinum Mastercard

Bankwest logo
Bankwest

More World Mastercard

Bankwest logo
Bankwest

Qantas Platinum Mastercard

Bankwest logo
Bankwest

Qantas World Mastercard

Commonwealth Bank logo
Commonwealth Bank

Diamond Awards Credit Card

Commonwealth Bank logo
Commonwealth Bank

Platinum Awards Credit Card

Travel Credit Card Provider of the Year

Bankwest
Bankwest

Bankwest offers an impressive range of travel cards which is a big reason why they won the award for Travel Credit Card Provider of the Year. Not charging a foreign exchange fee on many of their cards helped them to win in every single one of our Travel Credit Card awards categories, sometimes for more than just one card!

FAQs

What was the judging criteria for these awards?

The Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to Australian consumers. Our experts base their decision on hard-nosed calculations of value to the consumer, using Mozo’s extensive product database and research capacity. Providers don’t pay to be in the running and we don’t play favourites.

Our award methodology report is available for you to read which includes criteria for each award category and lists all providers considered for awards.

How many products were reviewed by Mozo’s experts for the 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 6 March 2019.

To better help consumers narrow down their choice there are several Mozo Experts Choice Awards Categories. Our full methodology report lists out the criteria for each awards category and provides a list of all providers compared for awards consideration.

Who are Mozo’s 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 60 years of financial services experience and 29 years in online financial comparison.

I work for a financial provider, how can I promote our win?

Congratulations! Please get in touch with us to discuss the many ways you can promote your Mozo Experts Choice win by emailing or phoning our advertising sales team on 02 9037 4368.

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, but is rather 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 if it comes with extras like complimentary travel insurance it could be worth it, especially if you travel overseas more than once a year.