Currency Kings Crowned: The Best Travel Money Products On The Market

Leading financial comparison site Mozo.com.au has revealed the winners of the Travel Money categories in the 2024 Mozo Experts Choice Awards for Savings & Transactions.

"Mozo’s rigorous assessment of more than one hundred travel money products, saw providers charging no or low fees, with competitive exchange rates and comprehensive features, awarded as the winners of the Mozo Experts Choice Awards," said Peter Marshall, Mozo Experts Choice Awards judge.

Mozo experts reviewed 124 Travel Debit Cards from 78 providers, along with 10 Prepaid Travel Cards and 5 Foreign Currency Debit Cards and awarded the most cost-effective travel money cards on the market for jet-setting Aussies.

“For over a decade, Mozo experts have compared the fees, exchange rates and features of travel cards to recognise the best value travel money products, and give Aussie travellers a shortlist to kickstart their travel card comparisons before they head overseas.”

Mozo Experts Choice Awards Winners (Travel Money)

Prepaid Travel Card Winner:  Travelex Money Card

“For people looking to lock in exchange rates and avoid any exchange rate fluctuations while travelling, these cards can provide a lot of confidence," noted Marshall.  

Among the multi-currency options, the Travelex Money Card emerged as the quintessential pick, known for its competitive rates, universal acceptance, and user-friendly features.

Foreign Currency Debit Card Winner: Wise Multi Currency Card

"For travellers who need access to more than one type of currency, Foreign Currency Debit Card can help keep costs low and provide easy access to a number of different currency options” said Marshall. 

After thorough review, the Wise Multi Currency Card emerged as the top choice, providing versatility, competitive rates, and low fees.

Travel Debit Card Winners

• Bankwest: Easy Transaction Account
• Bankwest: Qantas Transaction Account
• Great Southern Bank: Everyday Edge Account
• Macquarie: Transaction Account
• ME: SpendME Transaction Account
• Suncorp: Carbon Insights Account
• Suncorp: Everyday Options
• Ubank: Spend Account
• Up: Everyday Account

“Fee-free bank accounts with debit cards suitable for overseas travel are a great option for Aussies looking for two-fold benefits from a bank account," Marshall continued.

"For those seeking simplicity in managing their finances while abroad, the Travel Debit Card winners can be a great option, as they either have fee-free transactions, or fee rebates with minimum spends, so travellers can use their everyday bank accounts when travelling overseas.”