The Australia Post Multi-currency Cash Passport is an extremely versatile travel card which can help you to manage your travel money budget effectively. Unlike credit and debit cards, where you’ll never know what exchange rate you’ll be charged until after your purchase, with the AustPost Cash Passport you lock in your exchange rate so you’ll know exactly where your hard-earned vacation money is being spent.
After your initial load amount, if you need to put more funds onto the card while on the road you’ll have two options. You can reload via the Australia Post website for a flat $5 fee, or via BPAY, but keep in mind that with this option you’ll be charged 1% of the reload amount.
With the Cash Passport, travellers have access to Mastercard’s huge network of 2 million ATMs and 35.9 million retailers worldwide so there are plenty of options available to spend your funds. And best of all, you won’t be charged any fees as the Cash Passport has no overseas ATM or purchase fees. If something were to go wrong overseas, you can sleep easy knowing that Australia Post provides both a back-up travel card and 24/7 global emergency assistance at no additional cost.
Who it's good for:
The country-hopper - particularly for those embarking on an Asian odyssey. The Multi-currency Cash Passport allows you to load 10 currencies at one time and offers five Asian currencies: Thai Baht, Singapore Dollar, Hong Kong Dollar and Japanese Yen.
This is a travel card best used for overseas travel, not for day to day use in Australia. For domestic ATM withdrawals you’ll be charged 2.95% of the withdrawal amount.
As with most prepaid travel cards on the market, you should really only use this card in countries where you’ve got the currency preloaded on the card. Otherwise you’ll be hit with a 5.95% cross currency conversion fee.
Once you’re back in Australia, if you’re not going to travel again in the next 12 months, it’s a good idea to closing the card and taking the $10 hit or you could end up paying a $4 monthly inactivity fee until your balance runs out.