Aussie travellers are meticulous planners except when it comes to one thing, HSBC reveals
The image of the laid back Aussie traveller may not be as accurate as we thought, with new research from HSBC revealing that Aussies abroad are conscientious about using the hotel safe, keeping copies of important travel information and pre-booking their itineraries. We’re just not quite as on top of things when it comes to getting the best bang for our buck on holiday spending.
The numbers coming out of HSBC’s Passport to Smarter Spending survey are pretty clear: Aussies prioritise safety and security while far from home. In fact, 61% prefer a detailed, pre-booked itinerary over arranging plans on the go.
Nine in ten Aussie travellers also carry extra copies of important emergency phone numbers or their card details. And when it comes to carrying money and valuables, more than half said they wear a concealed money belt to protect cards and cash, and four in five carry their funds on different parts of their person as a security measure.
The same number make use of the hotel safe to store valuables and two in three stash an extra card or some cash into their luggage to safeguard against a money emergency.
RELATED: We’ve nailed travel, now Aussies are getting better at travel insurance
So Aussies are clearly more meticulous planners than our laidback reputation would suggest - but according to Barnaby Jenkins, Head of Transactional Banking Products at HSBC, that planning doesn’t always translate to money-savvy spending habits overseas.
“Australians want to immerse themselves wherever they travel, however in reality they’re much more considered and comfort-seeking, meticulously planning their activities well in advance in order to make the most of their holiday,” he said.
“They’re looking for smart ways to spend and save, but unfortunately this careful planning doesn’t extend to their finances – with many unaware of the international transaction and foreign exchange fees that could be stacking up.”
Almost half of Aussies surveyed by HSBC said they’ve been charged a fee for exchanging Aussie dollars into foreign currency in the past year. To avoid this fate, two-thirds decided to withdraw local currency at an ATM, rather than converting at a currency exchange service and 91% shopped around for foreign currency before travelling.
RELATED: Top travel money cards to pack on your summer holiday: Mozo Editor’s picks
Despite taking these measures, 47% admitted they were unaware of the exchange rate applied to credit card transactions made overseas and nine in ten reported being hit with ATM fees or other hidden charges.
The solution? Find the right travel money option for you. Choosing a piece of plastic - whether it’s a dedicated travel card or an everyday credit card or debit card - with no international transaction fees and no foreign ATM fees can help you avoid adding unnecessary charges to your holiday bill.
Check out some hot travel debit card offers, including the HSBC Everyday Global Account which allows you to hold up to 10 currencies in one account and spend overseas with no ATM or transaction fees, in the table below.
5 travel debit cards for your next getaway - last updated 19 April 2024
-
Everyday Options
$0.00
Apple Pay, Google Wallet, PayID
Visa Debit
An easy, everyday banking account packed with flexible options to help you spend, budget & save better. $0 monthly account keeping fees & option to add up to 9 sub-accounts.
CompareCompareEveryday Options
An easy, everyday banking account packed with flexible options to help you spend, budget & save better. $0 monthly account keeping fees & option to add up to 9 sub-accounts.
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Wallet, PayID
- what kind of card
- Visa Debit
- interest rate
- Balances from $0: 0.00% p.a.
Balances from $1: 0.01% p.a.
- fee-free transactions
- Unlimited free transactions from own-bank ATM, atmx ATM, Big 4 banks ATM, EFTPOS, counter withdrawals, counter deposits, phone and internet
Read our Mozo Review to learn more about the Everyday Options
-
Everyday Global Account
$0.00
Apple Pay, Google Wallet
Visa Debit
No overseas ATM fees & up to 10 currencies in one account. Switch between currencies instantly 24/7 wherever you are using the mobile app. Receive 2% Cashback on eligible tap and pay transactions under $100. Mozo's Experts Choice 2023 winner for Exceptional Everyday Account.^
CompareCompareEveryday Global Account
No overseas ATM fees & up to 10 currencies in one account. Switch between currencies instantly 24/7 wherever you are using the mobile app. Receive 2% Cashback on eligible tap and pay transactions under $100. Mozo's Experts Choice 2023 winner for Exceptional Everyday Account.^
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Wallet
- what kind of card
- Visa Debit
- interest rate
- Balances from $0: 0.00% p.a.
- fee-free transactions
- Unlimited free transactions from HSBC ATMs, EFTPOS, phone, internet, BPAY and direct debits
Read our Mozo Review to learn more about the Everyday Global Account
-
Carbon Insights Account
$0.00
Apple Pay, PayID, Google Pay
Visa Debit or
EFTPOSAn online-only transaction account with carbon insights available through the Suncorp App. $0 monthly account keeping fees & option to add up to 9 sub-accounts.
CompareCompareCarbon Insights Account
An online-only transaction account with carbon insights available through the Suncorp App. $0 monthly account keeping fees & option to add up to 9 sub-accounts.
- account fee
- $0.00
- Payment Options
- Apple Pay, PayID, Google Pay
- what kind of card
- Visa Debit or
EFTPOS
- interest rate
- Balances from $0: 0.00% p.a.
Balances from $0.01: 0.01% p.a.
- fee-free transactions
- Unlimited free transactions from own-bank ATM, atmx ATM, Big 4 banks ATM, EFTPOS, counter withdrawals, counter deposits, phone and internet
Read our Mozo Review to learn more about the Carbon Insights Account
-
Transaction Account
$0.00
Apple Pay, Google Wallet, PayID
Debit Mastercard
Earn interest on all balances. No monthly account fees. Winner of a Mozo Experts Choice Australia's Best Bank 2023^.
CompareCompareTransaction Account
Earn interest on all balances. No monthly account fees. Winner of a Mozo Experts Choice Australia's Best Bank 2023^.
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Wallet, PayID
- what kind of card
- Debit Mastercard
- interest rate
- Balances from $0: 4.75% p.a.
Balances from $1,000,000.01: 3.35% p.a.
- fee-free transactions
- Unlimited free transactions from any Australian ATMs, phone, internet, BPAY and direct debits
Read our Mozo Review to learn more about the Transaction Account
-
Smart Access
$4.00$0 monthly account fee if you deposit min. $2,000 per month or under 30 years old.
Apple Pay, Google Wallet, PayID, Samsung Pay, Garmin, Fitbit
Debit Mastercard or
EFTPOSCompareCompareSmart Access
- account fee
- $4.00$0 monthly account fee if you deposit min. $2,000 per month or under 30 years old.
- Payment Options
- Apple Pay, Google Wallet, PayID, Samsung Pay, Garmin, Fitbit
- what kind of card
- Debit Mastercard or
EFTPOS
- interest rate
- Balances from $0: 0.00% p.a.
- fee-free transactions
- Unlimited free transactions from network ATMs, EFTPOS, counter deposits, phone and internet
Read our Mozo Review to learn more about the Smart Access
Your selected travel money
Your selected travel money
Your selected travel money
Your selected travel money
Your selected travel money
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.