travel money exchange card

Here Are the Four Best Travel Money Cards in 2024

François Briod

Co-Founder of Monito and money transfer expert, François has been helping Monito’s users navigate the jungle of money transfer fees, bad exchange rates and tricks for the last ten years.

Jarrod Suda

A writer and editor at Monito, Jarrod is passionate about helping people apply today’s powerful finance technologies to their lives. He brings his background in international affairs and his experiences living in Japan to provide readers with comprehensive information that also acknowledges the local context.

Links on this page, including products and brands featured on ‘Sponsored’ content, may earn us an affiliate commission. This does not affect the opinions and recommendations of our editors.

From the multitude of bank fees and ATM charges to hidden currency conversion fees, there's no question that spending your money abroad while travelling can be costly — and that's saying nothing about the cost of the holiday itself!

As you prepare for your trip abroad, the golden rule is that you'll save the most money by using the local currency of your destination. This means withdrawing local cash at foreign ATMs and using a debit card to pay directly in the local currency. For example, if you're from the UK, using your bank's debit card that accesses your British pounds will likely lose you money to hidden fees at ATMs abroad and at local merchants.

In general, we rate Revolut as the best travel card all around. Its versatile account and card can be used to spend like a local pretty much anywhere in the world. ✨ Get 3 months of free Revolut Premium as a Monito reader with our exclusive link .

If you're from the EU, UK, or US, here are a few more specific recommendations to explore:

• Best for travelling from the UK: Chase
• Best for travelling from the US: Chime ®
• Best for travelling from the Eurozone: N26

If it's not possible for you to spend in the local currency when travelling abroad, then spending in your home currency while using a card that doesn't charge any hidden exchange rate markups from your bank (e.g. only the VISA or Mastercard exchange rates to convert currency) is still a good bet for most people.

In this guide, we explore cards that waive or lower ATM fees and that hold multiple currencies. Spend on your holiday like a local and enjoy peace of mind after each tap and swipe!

Best Travel Cards (And More!) at a Glance

Best travel money cards.

• 01. What is the best best multi currency card? scroll down
• 02. Are prepaid currency cards really it? scroll down
• 03. Monito's best travel money card tips scroll down
• 04. FAQ about the best travel cards scroll down

Revolut: Best All-Rounder

Revolut is one of the most well-known fintechs in the world because it offers services across Europe, the Americas, Asia, and Oceania.

• Trust & Credibility 8.9
• Service & Quality 7.9
• Fees & Exchange Rates 8.3
• Customer Satisfaction 9.4

Revolut is available in many countries. You can double-check if it's available in yours below:

Here's an overview of Revolut's plans:

Revolut Ultra is currently only available in the UK and EU.

Like Wise, Revolut converts your currency to the local currency of your travel destination at an excellent exchange rate (called the 'Revolut Rate', which, on weekdays, is basically on par with the rate you see on Google), making it a good way to buy foreign currency before travelling abroad. As always though, bear in mind that Revolut's exchange rates might be subject to change.

Revolut's Standard Plan only allows currency exchange at the base mid-market exchange rate for transfers worth £1,000 per month. ATM withdrawals are also free for the first €200 (although third-party providers may charge a withdrawal fee, and weekend surcharges may also apply). These allowances can be waived by upgrading memberships.

N26: Good Bank For EU Travellers

One of the most well-known neobanks in Europe, N26 and its debit card operate in euros only. However, N26 is a partner with Wise and has fully integrated Wise's technology so that you never have to pay foreign transaction fees on your purchases outside of the eurozone. While N26 does not have multi-currency functionality, N26 will apply the real exchange rate on all your foreign purchases and will never charge a commission fee — making N26's card a powerful card for EU/EEA residents who travel across the globe.

• Trust & Credibility 7.9
• Service & Quality 8.0
• Fees & Exchange Rates 9.3
• Customer Satisfaction 8.1

These are the countries in which you can register for an N26 account:

And here is an overview of the various plans and account:

This low-fee option for banking is also ideal for travellers who do not belong to a European bank but frequent the Eurozone. For example, N26 is available for residents and citizens of Switzerland, Norway, and other European Economic Area countries that do not run on the Euro.

These citizens, who are in close proximity to the Eurozone, will save each time they spend with an N26 card while in Europe. N26 provides three free ATM withdrawals per month in euros but does charge a 1.7% fee per ATM withdrawal outside of Europe.

Take a look at our guide to the best travel cards for Europe to learn more.

Wise: Best For Multi-Currency Balances

Load up to 54 currencies onto this card at the real exchange rate, giving you access to truly global travel.

• Trust & Credibility 9.3
• Service & Quality 8.9
• Fees & Exchange Rates 7.6
• Customer Satisfaction 9.6

These are the countries in which you can order a Wise debit card:

Unlike banks, credit unions, airport kiosks, and foreign ATMs, Wise is transparent about never charging a hidden exchange rate margin when you convert your home currency into up to 54 currencies. The live rate you see on Google or XE.com is the one you get with Wise.

An industry-low commission fee per transaction will range from 0.35% to 2.85%, depending on the currency.

Chase: Great UK Bank For Travel

A recent arrival from the USA, Chase is one of the UK’s newest digital challenger banks and comes with a rock-solid reputation and no monthly charges, no currency conversion charges, no withdrawal fees, and no other charges for everyday banking from Chase. It’s a simple, streamlined bank account with an excellent mobile banking app and a great cashback offer. However, it doesn’t yet offer more advanced features like international money transfers, joint accounts, business banking, overdrafts and loans, and teen or child accounts.

• Trust & Credibility 10
• Fees & Exchange Rates 10
• Customer Satisfaction 8.7

Chime: Great Account For US Travelers

Chime  is a good debit card for international travel thanks to its no foreign transaction fees¹. Unlike multi-currency accounts like Revolut (which let you hold local currency), Chime uses the live exchange rate applied by VISA. This rate is close to the mid-market rate, and Chime does not add any extra markup to your purchases, although out-of-network ATM withdrawal and over-the-counter advance fees may still apply.

• Trust & Credibility 9.5
• Service & Quality 8.8
• Fees & Exchange Rates 9.8

While Chime waives ATM fees at all MoneyPass, AllPoint, and VISA Plus Alliance ATMs within the United States, this fee waiver does not extend to withdrawals made outside the country. For withdrawals abroad, Chime applies a $2.50 fee per transaction, with a daily withdrawal limit of $515 or its equivalent. This is in addition to any fees charged by the ATM owner. Therefore, we recommend Chime primarily for card purchases rather than relying on it for withdrawing cash while traveling internationally.

• No  foreign transaction fees ¹;
• Uses VISA's exchange rate ( monitor here ):
• A $2.50 fee per ATM withdrawal made outside of the United States;
• More info:  Read our  Chime review  or  visit their website .

Best Travel Money Cards in 2024 Compared by Country

In the table below, see our comparison summary of the four best travel cards for 2024 by country:

Last updated: 8 January 2024

What's The Best Prepaid Card to Use Abroad?

Travel cards come in many varieties, such as standard credit cards or debit cards with no foreign transaction fees or cards that waive all foreign ATM withdrawal fees.

What is a Multi-Currency Card?

Multi-currency cards are a specific type of travel card that allows you to own all kinds of foreign currencies, which you can instantly access when you pay with your card abroad. By spending the local currency in the region of travel , you bypass poor foreign exchange rates. ATMs and cashless payment machines will treat your card like a local card.

We have already mentioned a few multi-currency cards in this review, but we will also introduce Travelex . Travelex's Money Card also allows you to top up several foreign currencies — albeit at exchange rates slightly poorer than the real mid-market rate .

Wise Account

Wise has one of the best multi-currency cards available on the market.

Read our full review for more details.

Revolut is impressive for its vast options in currencies and its additional services.

Our in-depth review explores Revolut's services in detail.

Travelex offers a prepaid travel money card that supports 10 currencies and waives all ATM withdrawal fees abroad.

• Trust & Credibility 9.0
• Service & Quality 5.8
• Fees & Exchange Rates 7.1
• Customer Satisfaction 9.3

Travelex charges fees, which fluctuate according to the exchange rates of the day, in order to convert your home currency into the currencies that it supports. But once the currency is on the card, you'll be able to spend like a local. Learn more with our full review .

Don’t Let Banks, Bureaux de Change, and ATMs Eat Your Lunch 🍕!

Are you withdrawing cash at an ATM in the streets of Paris? Exchanging currencies at Gatwick airport? Paying for a pizza with your card during a holiday in Milano? Every time you exchange currencies, you could lose between 2% to 20% of your money in  hidden fees . Keep reading below to make sure you recognize and avoid them.

Currency Exchange Fees Eating My Lunch? What’s That?

You’re often charged a hidden fee in the form of an alarming exchange rate.

At any given time, there is a so-called “ mid-market exchange rate ” — this is the real exchange rate you can see on  Google . However, the money transfer provider or bank you use to exchange currencies rarely offers this exchange rate. Instead, you will get a much worse exchange rate. They pocket this margin between the actual rate and the poor exchange rate they apply, allowing the bank or money transfer provider to profit from the currency exchange. 

In other words, you or your recipient will receive less foreign currency for each unit of currency you exchange. All the while, the provider will claim that they charge zero commission or zero fees.

So the question now is… how can you avoid them? Thankfully, the best travel money cards will allow you to hold the local currency, which you can access instantly with a tap or swipe. Carrying the local currency avoids  exchange rate margins  on every purchase.

Top Travel Money Tips

• Avoid bureaux de change. They charge between 2.15% and 16.6% of the money exchanged.
• Always pay in the local currency and never accept the  dynamic currency conversion .
• Don't use your ordinary debit or credit card unless it's specifically geared toward international use. Doing this will typically cost you between 1.75% and 4.25% per transaction. Instead, use one of the innovative travel money cards below.

By opting for a travel card without FX fees, you can freely swipe your card abroad without worrying about additional charges. However, saving money doesn't stop there. To make the most out of your travel budget, consider using  Skyscanner , one of the most powerful flight search engines available that allows you to compare prices from various airlines and find the best deals.

With Skyscanner's user-friendly interface and comprehensive search options, you can discover cheap flights and enjoy your holidays with peace of mind and more money in your pocket.

Best Travel Money Card Tips

When you convert your home currency into a foreign currency, foreign exchange service providers will charge you two kinds of fees :

• Exchange Rate Margin:  Providers apply an exchange rate that is poorer than the true  "mid-market" exchange rate . They keep the difference, called an  exchange rate margin .
• Commission Fee:  This  fee  is usually a percentage of the amount converted, which is charged for the service provided.

With these facts in mind, let's see what practices are useful to avoid ATM fees, foreign transaction fees, and other charges you may encounter while on your travels.

Tip 1: While Traveling, Avoid Bureaux de Change At All Costs

Have you ever wondered how bureaux de change and currency exchange desks are able to secure prime real estate in tourist locations like the Champs-Élysées in Paris or Covent Carden in London while claiming to take no commission? It’s easy: they make (plenty of) money through hidden fees on the exchange rates they give you. 

Our study shows that Bureaux de Change in Paris charges a margin ranging from 2.15% at CEN Change Dollar Boulevard de Strasbourg to 16.6% (!!) at Travelex Champs-Élysées when exchanging 500 US dollars into euros for example. 

If you really want cash and can’t wait to withdraw it with a card at an ATM at your destination, ordering currencies online before your trip is usually cheaper than exchanging currencies at a bureau de change, but it’s still a very expensive way to get foreign currency which we, therefore, would not recommend.

Tip 2: Always Choose To Pay In the Local Currency

Don’t fall for the dynamic currency conversion trap! When using your card abroad to pay at a terminal or withdraw cash at an ATM, you’ve probably been asked whether you’d prefer to pay in your home currency instead of the local currency of the foreign country. This little trick is called dynamic currency conversion , and the right answer to this sneaky question will help you save big on currency exchange fees.

As a general rule, you always want to pay in the local currency (euros in Europe, sterling in the UK, kroner in Denmark, bahts in Thailand, etc.) when using your card abroad, instead of accepting the currency exchange and paying in your home currency. 

This seems like a trick question - why not opt to pay in your home currency? On the plus side, you would know exactly what amount you would be paying in your home currency instead of accepting the unknown exchange rate determined by your card issuer a few days later.

What is a Dynamic Currency Conversion?

However, when choosing to pay in your home currency instead of the local one, you will carry out what’s called a “dynamic currency conversion”. This is just a complicated way of saying that you’re exchanging between the foreign currency and your home currency at the exact time you use your card to pay or withdraw cash in a foreign currency, and not a few days later. For this privilege, the local payment terminal or ATM will apply an exchange rate that is often significantly worse than even a traditional bank’s exchange rate (we’ve seen margins of up to 8%!), and of course, much worse than the exchange rate you would get by using an innovative multi-currency card (see tip #3). 

In the vast majority of times, knowing with complete certainty what amount you will pay in your home currency is not worth the additional steep cost of the dynamic currency conversion, hence why we recommend always choosing to pay in the local currency.

Tip 3: Don't Use a Traditional Card To Pay in Foreign Currency/Withdraw Cash Abroad

As mentioned before, providers make money on foreign currency conversions by charging poor exchange rates — and pocketing the difference between that and the true mid-market rate. They also make money by charging commission fees, which can either come as flat fees or as a percentage of the transaction.

Have a look at traditional bank cards to see how much you can be charged in fees for spending or withdrawing $500 while on your holiday.

These fees can very quickly add up. For example, take a couple and a child travelling to the US on a two-week mid-range holiday. According to this study , the total cost of their holiday would amount to around $4200. If you withdraw $200 in cash four times and spend the rest with your card, you would pay $123 in hidden currency exchange and ATM withdrawal fees with HSBC or $110 with La Banque Postale. With this money, our travellers could pay for a nice dinner, the entrance fee to Yosemite Park, or many other priceless memories. 

Thankfully, new innovative multi-currency cards will help you save a lot of money while travelling. Opening an N26 Classic account and using the N26 card during the same US holidays would only cost $13.60.

Need Foreign Cash Anyway?

In many countries, carrying a wad of banknotes is not only useful but necessary to pay your way since not every shop, market stall, or street vendor will accept card payments. In these cases you'll have two options to exchange foreign currency cheaply:

1. Withraw at an ATM

As we've explored in great depth in this article, withdrawing money from a foreign ATM will almost always come with fees — at the very least from the ATM itself, and so it's therefore the best strategy to use a travel debit card that doesn't charge in specific ATM withdraw fees on its own to add insult to injury. That said, if you need cash, we recommend making one large withdrawal rather than multiple smaller ones . This way, you'll be able to dodge the fees being incurred multiple times.

2. Buy Banknotes (at a Reasonable Rate!)

As we've also seen, buying foreign currency at the airport, at foreign bank branches, or in bureaux de change in tourist hotspots can be surprisingly expensive. Still, not all exchange offices are equally pricey . If you're looking for a well-priced way to exchange your cash into foreign currency banknotes before you travel, Change Group will let you order foreign currency online and pick them up at the airport, train station, or a Change Group branch just before you leave for your holiday. A few pick-up locations in the UK include:

• London centre (multiple locations),
• Glasgow centre,
• Oxford centre,
• Luton Airport,
• Gatwick Airport,
• St. Pancras Station.

(Note that Change Group also has locations in the USA, Australia, Germany, Spain, Sweden, Austria, and Finland!)

Although its exchange rates aren't quite as good as using a low-fee debit card like Revolut, Change Group's exchange rates between popular currencies tend to be between 2% to 3%, which is still a lot better than you'll get at the bank or at a touristy bureau de change in the middle or Paris or Prague!

FAQ About the Best Travel Money Cards

Having reviewed and compared several of the industry's leading neobanks, experts at Monito have found the Wise Account to offer the best multi-currency card in 2024.

In general, yes! You can get a much better deal with new innovative travel cards than traditional banks' debit/credit cards. However, not all cards are made equal, so make sure to compare the fees to withdraw cash abroad, the exchange rates and monthly fees to make sure you're getting the best deal possible.

• Sign up for a multi-currency account;
• Link your bank to the account and add your home currency;
• Convert amount to the local currency of holiday destination ( Wise and Revolut convert at the actual mid-market rate);
• Tap and swipe like a local when you pay at vendors.

Yes, the Wise Multi-Currency Card is uniquely worthwhile because it actually converts your home currency into foreign currency at the real mid-market exchange rate . Wise charges a transparent and industry-low commission fee for the service instead.

More traditional currency cards like the Travelex Money Card are good alternatives, but they will apply an exchange rate that is weaker than the mid-market rate.

The Wise Multi-Currency Card is the best money card for euros because unlike banks, credit unions, airport kiosks, and foreign ATMs,  Wise  is transparent about never charging a hidden exchange rate margin when you convert your local currency into euros with them.

The live rate you see on Google or XE.com is the one you get with  Wise . An industry-low commission fee will range from 0.35% to 2.85%. USD to EUR transfers generally incur a 1.6% fee.

Learn more about how to buy euros in the United States before your trip.

There are usually three types of travel cards, prepaid travel cards, debit travel cards and credit travel cards. Each have pros and cons, here's a short summary:

• Prepaid travel cards: You usually need to load cards with your home currency via a bank wire or credit/debit card top-up. You're then able to manage the balance from an attached mobile app and can use it to pay in foreign currencies or withdraw cash at an ATM abroad tapping into your home currency prepaid balance. With prepaid travel cards, as the name indicates, you can't spend more than what you've loaded before hand. Some prepaid card providers will provide ways to "auto top-up" when your balance reaches a certain level that you can customize. On Revolut for example, you can decide to top-up £100/£200/£500 from your debit card each time your balance reaches below £50.
• Debit travel cards: Some innovative digital banks, like N26 or Monzo, offer travel debit cards that have the same advantages than a Prepaid Travel Cards, except that they're debit card directly tapping into your current account balance. Like a Prepaid travel card, you can't spend more than the balance you have in your current account with N26 or Monzo, but you can activate an overdraft (between €1,000 or €10,000 for N26 or £1,000 for Monzo) if you need it, for a fee though.

Note that even if they're Prepaid or Debit cards, you can use them for Internet payments like a normal credit card.

• Credit travel cards: You can find credit cards made for international payments offering good exchange rates and low fees to withdraw money abroad, but you'll need to pay interests in your international payment if you don't pay in FULL at the end of every month and interest on your ATM withdrawals each day until you pay them back.

Why You Can Trust Monito

Our recommendations are built on rock-solid experience.

• We've reviewed 70+ digital finance apps and online banks
• We've made 100's of card transactions
• Our writers have been testing providers since 2013

Other Monito Guides and Reviews on Top Multi Currency Cards

Why Trust Monito?

You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe. Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.

Monito is trusted by 15+ million users across the globe.

Monito's experts spend hours researching and testing services so that you don't have to.

Our recommendations are always unbiased and independent.

Travel money card

Spend like a local and explore the globe with a travel debit card. Whether it's a virtual or a physical card, we've got all your travel money needs covered.

Need an international travel card? Take us all around the world

Exchange currencies, send money abroad, and keep 36 local currencies in-app. These are just some of the reasons why our customers love their travel debit cards.

Built-in security features

Set spending limits, get payment notifications, and freeze or unfreeze your card in-app.

Add it to Google Pay or Apple Pay

No need to wait for your physical card to arrive — spend instantly with a virtual card.

Withdraw without ATM fees

Get fee-free ATM withdrawals, up to £2,000 per rolling month, depending on your plan type.¹

Manage travel money in-app

Manage everything for your holiday money card in the Revolut app, from top-ups to transfers.

¹No ATM withdrawal fees within plan limits on a rolling monthly basis. Third-party providers may charge a withdrawal fee. Currency and ATM fair-usage fees apply. Currency exchange fees may apply. Weekend markups on currency exchange will apply. Plan fees and T&Cs apply.

Spend like a local in 150+ currencies

No ATM fees up to £2,000 per month²

²No ATM withdrawals fees within plan limits on a rolling monthly basis. Third-party providers may charge a withdrawal fee and ATM fair-usage fees. Weekend markups will apply.

Spend right away with Apple Pay or Google Pay

How to get your travel money card in the UK

Get your currency debit card in 3 steps

Get revolut.

Join 40+ million people worldwide saving when they spend abroad with Revolut.

Order your card

Order your free travel money card to spend in 150+ currencies. Delivery fees may apply.

Spend like a local

Start spending around the world. That's your travel money, sorted.

Get instant payment notifications

Spend with confidence

Built-in security measures

How to save money with travel currency cards

Tips for saving with a money travel card

Don't exchange at airports or at home.

Don’t exchange cash before you travel. Use your travel money card to spend or withdraw money from an ATM (just watch out for ATM fees).

Always choose the local currency

Choose the local currency when spending with your card in shops and restaurants.

Save on travel spending with a Revolut card

Spend in the local currency at competitive rates on your next trip from the UK.

For life, not just for holidays

This is not a prepaid card you just throw away after your trip. Trust us, you’ll want to use Revolut for future adventures and everyday spending.

Rating as of 19 May 2024

713K Reviews

2.8M Reviews

Spend your holiday money in 150+ currencies

Need a little more help?

Holiday money card FAQs

What is a travel money card, what currencies can i spend in when i use a travel money card, what are the limits for spending with a travel card, how can i manage my travel money card, is a travel money card safe and secure, how can i order a travel money card.

• Download the Revolut app : find it in the Apple or Google Play Store.
• Sign up for Revolut : apply for an account and verify your identity.
• Add a debit card : go to Cards and follow the instructions to start your order.
• Set your PIN : choose a PIN that you'll remember.
• Arrange delivery : enter your delivery address and select your delivery method before proceeding to checkout (delivery fees may apply).

Don’t worry, there's no need to wait for your physical card to arrive — you can also use virtual travel cards with Revolut. Just connect your card to Google Pay or Apple Pay, and use it immediately.

Is a travel money card better than travel money?

• Don’t exchange cash at the airport. It’s much cheaper to withdraw money from an ATM with your travel money card.
• Don't carry more cash than you need. When you return home from your trip, you’ll need to re-convert this cash back to GBP, which can take time and cost you in fees.
• Always choose the local currency when spending with your card in shops and restaurants.
• Sign up for Revolut so you can manage your balance and get instant notifications on what you spend.

What is the best bank to use when travelling abroad?

• exchanging currencies before you go or while you're there
• withdrawing money from ATMs
• using your card in shops, restaurants, and more

Traditional banks aren't your only option. Financial apps often have similar features to traditional banks without the hassle.

With Revolut, you can do everything in-app and save on your transactions and withdrawals abroad. You get ultimate flexibility and control over your money.

What's the difference between using prepaid travel cards and travel debit cards for spending abroad?

Compare rates and fees for your money transfers.

Read our range of money transfer and banking guides.

Reviews and comparisons of the best money transfer providers, banks, and apps.

Helpful tools to ensure you get the best rates on money transfers.

A Guide to Travel Money Cards

Often deemed the cheapest way to spend money abroad , travel money cards are deemed a failsafe option for many travellers. Given the rapid growth of the financial services sector, we want to find out if travel money cards are still as cutting edge as they once were, by comparing them to the new alternatives. Our job is to identify the best international money transfer services and payment providers in the industry: will travel money cards make the cut?

What are travel money cards?

Travel money cards are a popular payment method for individuals headed abroad. Customers will load funds onto the card, using the money as foreign currency when overseas, much like a debit card is used at home. Also known as travel money prepaid cards or currency cards, they facilitate free foreign transactions and overseas ATM withdrawals.

We recommend finding a travel money card which lets you lock-in a favourable exchange rate and supports multiple currencies on one card, to make sure you are securing a flexible and cost-effective deal.

How do you use a travel money card?

Using a travel money card should be straightforward and stress-free. Simply load funds onto the card before you leave, and once abroad, you will be able to reload funds and change currencies using the website or associated money transfer app . The card can be used to make withdrawals, in-store purchases and book travel arrangements.

Where can I get a travel money card?

Travel money cards are available from different retailers and can be purchased and preloaded online, over the phone or in-store, depending on the brand. In the UK, popular brands include Travelex and the Post Office.

Where can I use a travel money card?

Again, this depends on the brand and where you get your money travel card from. Available currencies vary from card to card but commonly used currencies include US Dollars, UK Pound sterling, Euros, Japanese Yen and New Zealand Dollars. Make sure you check with the provider before ordering a travel money card.

How secure are travel money cards?

Generally, travel money cards are considered a lot safer than handling multiple currencies in cash, or travellers cheques, as your provider will be able to cancel it if need be. Furthermore, some of the best travel money cards employ an equivalent level of security to traditional debit cards, including a PIN code, touch ID and face recognition.

Many consider it safer to use a travel money card abroad than a debit card, as they are not associated with your bank account and therefore cannot be linked if lost or stolen.

Travel money cards vs. Credit cards: What is the difference?

One of the biggest advantages of using a travel money card is that your chosen currency is preloaded before you arrive in the foreign country and you won’t be charged conversion fees. This means you are able to benefit from the most favourable exchange rates, locking it in ahead of time and using the funds at a later date.

Most people who use their credit card abroad do it because it is more convenient. The cost of this convenience, however, can sometimes amount to 3 - 5% per use, depending on the transaction and financial institution. Making a foreign ATM withdrawal with your credit card can incur flat-fees of $5 and up, each time.

This being said, there are some excellent traveller credit cards on the market, so we would recommend users compare exchange rates and transfer fees offered by each provider before making a decision on which card is more beneficial.

If you're planning on using your credit card, we suggest you take a look at our credit card wire transfer guide.

What are the alternatives to travel money cards?

Multi-currency accounts.

International money transfer companies are often tailoring their products and services to meet the needs of their customers. Wise , offers a multi-currency account designed with “international people" in mind. This savvy travel credit card is aimed at frequent flyers who want to spend in various currencies in over 200 countries. Wise is a reliable company to trust with your overseas spending habits.

Challenger banks

More and more alternative service providers are popping up around the world, many of them offering reputable banking features for the modern traveller. In a bid to distinguish themselves from traditional banks, challenger banks are scrapping fees on foreign exchange and international spending. Monzo customers, for example, can benefit from free international ATM withdrawals as well as fee-free spending overseas.

We hope this guide to travel money cards has enlightened you and helped you make a decision about whether this is a suitable payment method for your next trip overseas. We appreciate the value of your hard-earned cash and want all our customers to benefit from the best possible rates when dealing with international payments. Use our comparison tool today to make sure you are offered the most desirable exchange rate for your currency.

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Travel money cards with the lowest fees

We look at seven travel money cards from the big banks and airlines..

Prepaid travel money cards are offered by major banks, airlines and foreign exchange retailers like Travelex. Before travelling overseas, you load money into the card account, which locks in the exchange rate for foreign currencies at that time. 

You can then use the card for purchases and cash withdrawals just like a debit or credit card, usually wherever Visa and Mastercard are accepted. 

You can reload money on-the-go via an app or website, and if the card is lost or stolen, it can be replaced (usually at no cost to you).

Prepaid travel money cards also give you assurance that you're not handing the details of your everyday banking account to merchants you're not familiar with, and they provide easy access to cash when you want some, says Peter Marshall, head of research at money comparison website Mozo .

CHOICE tip: Travel money cards are best for longer trips. They're usually not worth your while if you're only taking a short trip, as some have closure, cash out and inactivity fees.

Travel money card fees

A major difference between prepaid travel cards and debit or credit cards is their fees. Some costs aren't immediately apparent, such as hefty margins built into the exchange rates.

And although fees have come down since we looked at these cards two years ago, you still need to watch out for:

• fees to load the card – either a percentage of the total or a flat fee
• ATM withdrawal fees
• a cross currency fee or margin when you use the card in a currency you haven't preloaded
• further fees if you close the account or haven't used the card for a period of time.

Travel money card with the lowest fees and best exchange rate

Westpac worldwide wallet.

Westpac closed its Global Currency Card in July 2021 and offers its new card in partnership with Mastercard.  It's also available from Bank of Melbourne and BankSA.

Currencies: AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD, ZAR.

Key features:

• No loading, reloading, closing or inactivity fees.
• Free to use it in network ATMs in Australia and partner ATMs overseas in a range of countries including the UK, US and New Zealand.
• A charge applies at non-Westpac and non-partner ATMs in Australia and overseas.
• Best exchange rates for the US dollar, the Euro and GBP in our comparison.*
• The only card that lets you preload the South African rand.

Other travel money cards

Next to the Westpac Worldwide Wallet, there are six other travel money cards available.

Australia Post Travel Platinum Mastercard

Available online or at post offices.

Currencies : AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD, AED.

• Fee to reload the card via BPay, debit card or instore, but free via online bank transfer.
• Closure fee.
• Fees for ATM withdrawals in Australia and overseas.

Cash Passport Platinum Mastercard

It's issued by Heritage Bank and is available online and from a number of smaller banks and credit unions (like Bendigo Bank and Bank of Queensland) as well as travel agents. 

• Fee to reload with a debit card or instore, but free via BPay.

CommBank Travel Money Card

CommBank Travel Money Card (Visa)

As NAB and ANZ have closed their travel money cards, this is the only other travel money card available from a major bank. This card has the largest variety of currencies that can be preloaded.

Currencies : AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD, AED, VND, CNY.

• Fee if you make a purchase with currencies not preloaded.
• Fee for withdrawals at overseas ATMs.

Qantas Travel Money Card

Qantas Travel Money Card (Mastercard)

The only travel money card offering from an airline. It can be added as a feature to your Qantas Frequent Flyer card, so you don't need a dedicated card, and you can earn points using it.

• Free to reload via bank transfer or BPay, but there's a reload fee if using debit card.

Travelex Money Card

Travelex Money Card (Mastercard)

Travelex is an international foreign exchange retailer. In Australia, it operates more than 140 stores at major airports and shopping centres, across CBDs and in the suburbs. It was the card with the best exchange rate for New Zealand dollars.*

Currencies : AUD, USD, NZD, EUR, GBP, SGD, THB, JPY, HKD, CAD.

Fees : 

• Load fee instore, but free via Travelex website or app.
• Reload fee instore or via BPay, but free via Travelex website or app.
• Closure fee and monthly inactivity fee (if not used for 12 months).

Travel Money Oz Currency Pass

Travel Money Oz Currency Pass (Mastercard)

The Travel Money Group is owned by Flight Centre and is a foreign exchange retailer. 

• Reloading the card via an online bank transfer or instore is free, but there's a fee if you reload via BPay, debit card or credit card. 
• Cash out (closure) fee. 

Travel money card tips

• Make sure the card allows the currencies you'll need, and also consider stopovers. For example, the South African rand is only supported by the Westpac card.
• Try to load your card with the right currencies and amounts on days with good exchange rates. 
• Make sure you know how to reload your card if you run out of funds while overseas.
• It may be more convenient to choose a card that has an app that can be linked to your bank account.
• Avoid loading more money than you'll need as there may be fees and exchange rate margins to get the unused money back.
• Remember to cancel the card once you're finished your trip, especially if it has inactivity fees.
• Be mindful that you still may need a credit card, as travel money cards may not be accepted as security for hotels and car rental agencies. 

Stock images:  Getty, unless otherwise stated.

Join the conversation

To share your thoughts or ask a question, visit the CHOICE Community forum.

Best prepaid travel money cards 2024

In this article

Which prepaid travel card do you need?

Best multi-currency prepaid cards, best sterling prepaid cards, what exchange rate do you pay.

• Fees and charges to watch out for

Is it worth getting a prepaid card?

Are prepaid cards secure, alternatives to prepaid travel cards.

Your holiday could be ruined by fees on overseas spending if you pack the wrong card to spend with.

Prepaid travel cards, also known as 'currency cards', allow you to load money in pounds and spend in another currency fee-free and usually allow you to lock in competitive exchange rates, saving you money compared with using your everyday debit or credit card.

However, these types of deals can come with their own special variety of hidden fees. In this guide, we take the hard work out of comparing these deals and explain the pros and cons of using a prepaid card for your trip. 

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There are two main ypes of prepaid travel cards to consider packing for your next trip:

• Multi-currency prepaid cards allow you to load several currencies onto one card, ideal for visiting multiple destinations. For example, you could have £100, $200 and €300 stored on one card in different 'wallets'. You can lock in rates by converting when you load the cash, or store some money in pounds to convert later.
• Sterling prepaid cards  offer the most flexibility, as you can load your card with pounds and spend in dozens of different currencies. Each time you spend or withdraw cash, the pounds are converted to the required currency at the exchange rate on the day. This may make it harder to forecast how much money you'll have available in any given destination.

Multi-currency prepaid cards allow you to load a variety of major currencies in one place.

We've analysed the main providers of multi-currency prepaid cards including the type of currency offered, load fees (loading money onto the card), fees for withdrawing cash, and inactivity fees that could catch you out. 

Please note the table is ordered alphabetically, not ranked in order of features.

The Post Office Travel Money Card and Travelex card can load the most currencies, however, charges apply for some cash withdrawals at an ATM wth the Post Office deal. 

Asda Money,  Caxton, EasyFX, Sainsbury's and Travelex  had similar offers with free ATM withdrawals. While most have £500 withdrawal limits Easy FX allows £1,000 (limited to £500 in a single transaction) and Nectar cardholders can get better exchange rates at Sainsbury's.

All the cards allow you to load money that is immediately converted to a foreign currency free of charge. However, more than half of the providers charge a fee of up to 2% for topping up your wallet with pounds to convert at a later date. So if you plan on doing this often you may be better off with one that doesn't charge. 

Sterling prepaid cards offer the most flexible option for travellers and our analysis shows they can be as competitive as multi-currency deals.

We looked at the exchange rates offered, as well as the fees you'll pay and maximum balances. 

*Rate could be higher depending on currency 

These cards are convenient as they allow you to load as much currency as you want into your account, however, you'll need to download an app to use them.

The Revolut card uses the interbank rate and you will incur no fees on top of the rate if you convert money Monday to Friday - therefore it's worth loading up and exchanging before the weekend. You'll be charged a 2% fee if you withdraw more than £200 a month.

The Wise card also uses the interbank exchange rate but charges a 0.43% fee on top every day of the week. It offers two fee-free cash withdrawals of up to £200 each month in the UK or Europe.

HSBC-backed app Zing could also be a good option. It has a lower fee when converting currencies, and it uses a third party conversion rate which is typically lower than the interbank rate. 

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Prepaid card providers offer different exchange rates.

Some use the 'interbank rate' (the rate banks charge one another) and others may use Mastercard or Visa's exchange rates.

In some cases, a provider may pick one of these rates, then apply a percentage on top, usually between 1% and 2.5%.

When picking a prepaid travel card you should compare the exchange rates offered as well as the card's fees.

Fees and charges to watch out for 

Prepaid cards designed for spending abroad are usually cheaper than spending on your everyday debit or credit card.

However, almost all prepaid cards currently on the market come with a variety of fees and charges. Common charges to watch out for include:

• Application fees - some providers apply a one-off charge to open the account ranging from £5 to £10, though most will offset this if you load a certain amount.
• Monthly fees - the worst prepaid cards will charge an ongoing fee just for holding the card. It can range from £2 to £5 a month, which can be hugely expensive over a year.
• Top-up fees  - if you're using a credit card to top up your prepaid card you could be charged a fee by your prepaid card provider. Plus as it counts as a 'cash transaction' your credit card provider could charge you a fee and interest. So it's usually best to use a debit card to top-up your account.
• UK and foreign ATM withdrawal fees - some prepaid cards charge for using ATMs abroad, usually £1.50 to £2 per withdrawal. Some providers will waive the fee if you withdraw a certain amount. You can minimise the risk of being hit with fees by planning how much you want to spend before you travel and taking out cash in one lump sum.
• Cross border fees - if you use your prepaid card for a transaction that's not in your card's currency, you could be charged a fee of around 2.75%.
• Inactivity fees - if you don't use your card you could also face a penalty. Some providers will charge around £2 a month if you haven't spent on the card within 12 months.
• Replacement fees - prepaid cards, like credit and debit cards, come with an expiry date, which can range between one and five years after opening. You'll normally have to pay a renewal fee of around £5 if you want to continue to use the account.
• Redemption fees  - some providers charge a fee to get any money you haven't used back. This can be up to £10 so it's wise to only load what you plan to spend and nothing more.

Prepaid cards also often come with limits on loading and transactions, which could leave you in a tricky situation if you aren't aware of them. 

If you're considering getting a prepaid travel card, here are the pros and cons to weigh up.

Each card provider will have its own terms and conditions, so read them carefully before you sign up.

What are the pros of getting a prepaid card?

• Widely accepted around the world.
• Comes with chargeback  protection.
• Can help you budget and avoid overspending.
• Could be cheaper for overseas spending and withdrawals.

What are the disadvantages of getting a prepaid card?

• Not accepted for pre-authorised transactions such as hiring a car.
• No Section 75 protection on purchases over £100.
• Low withdrawal limits and no way to borrow money in an emergency.
• Come with a variety of fees including charges for lack of use.

Prepaid cards offer a secure way to carry cash when abroad.

They come with the same security features as credit and debit cards, so you need a Pin to withdraw cash or use them in person. However, many are now contactless so you may not need a Pin for smaller purchases.

It's also worth bearing in mind that prepaid cards offer no protection for losses under Section 75 of the Consumer Credit Act . However, redress may be possible under the MasterCard or Visa chargeback  scheme.

What if the prepaid card provider goes bust?

The Financial Services Compensation Scheme does not cover deposits onto prepaid cards.

Most prepaid providers will deposit customers' cash in a ring-fenced account held in a bank or building society. So, if the prepaid company goes bust, your money should be protected by the bank holding your cash.

However, if the bank or building society fails, your cash won't be protected. So you should never store lots of money on a prepaid card, just what you need to spend in the near future.

Prepaid cards are a safe way to carry cash overseas. But you won't be able to spend from your main current accounts or borrow money in an emergency.

A credit card with low fees on overseas spending can work out as the best option for purchases made abroad, as long as the bill is paid off in full each month. For a credit card with low overseas spending fees, check out the best travel credit cards .

Alternatively, many banks offer debit cards with fee-free overseas spending. We round up your options in our guide to the  best debit cards to use abroad .

That said, applying for a credit card or current account for a debit card requires a credit check, whereas applying for a prepaid card doesn't. So if you have a poor or no credit history it will be easier for you to get a prepaid card.

Currensea has launched what it calls the 'first UK direct debit travel card'. This card is linked to your bank account which means you do not need to top up the card, as long as you have money in your account.

It provides a layer over your existing bank account that will allow you to spend in all 180 currencies without charges. It uses the interbank exchange rate for 16 major currencies and Mastercard rates for all other available currencies.

Currensea doesn't charge any non-sterling transaction fees or dormancy fees. For personal accounts, there is a 0.5% markup on the exchange rate. ATM withdrawals are free under a limit of £500 a month. After this, a 2% fee will be applied.

Your prepaid card questions answered

Grace, our prepaid card expert, answers the top questions people have about these types of deals.

Where can I use a prepaid travel card?

Prepaid cards are usually issued by major card networks like Visa or Mastercard, meaning they can be used in millions of places around the world, as well as online, just like a debit or credit card.

You should be able to use your card at most ATMs abroad, and at most retailers that accept card payments.

However, there are some notable exceptions to this, including car hire firms, hotels and petrol stations that require pre-authorisation.

Should I pay in pounds or in the local currency?

When abroad you will sometimes be asked if you want to pay or withdraw cash in sterling or the local currency. This is called dynamic currency conversion and is usually best avoided.

With a specialist prepaid card you'll get a better rate paying in the foreign currency rather than in sterling. In fact, you might be charged a fee for paying in sterling if you don't have a multi-currency card.

What happens if my prepaid card is lost or stolen?

Like travellers cheques , your money is safe and will be replaced if the prepaid card is lost or stolen.

However, you might be charged for calling the customer helpline and for emergency card replacement by courier.

As long as you contact the provider of your prepaid card and get it blocked, you shouldn't lose out on any money, though you may have to pay up to £10 for a replacement card.

Bear in mind that if your prepaid card is contactless it could be used for a series of small, fraudulent transactions, so always alert your card provider as soon as possible. It's also worth alerting local police or security services if there's been a theft - you may need an incident number to claim losses back on your travel insurance.

Why can't I use it for car hire or a hotel room?

Most prepaid cards don't allow you to make pre-authorised transactions. These are often required when you have to pay for something where the final cost hasn't been decided, or where you use the service before paying.

As such, you may not be able to use your prepaid car to pay for petrol at the pump, hire a car, or pay for a hotel room.

What if I have an emergency or run out of money overseas?

You'll be able to load more money onto your prepaid card after you've activated it, usually through the provider website or app.

Most cards have daily withdrawal limits, so make sure you can withdraw enough cash to cover your spending for the full day.

Keep in mind that prepaid cards don't have a borrowing facility, so you won't be able to rely on it for emergency funds. For this reason, it can be wise to bring a travel credit card overseas with you, in case you need to buy flights home or pay for out-of-pocket medical expenses.

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• Best travel credit cards 2024
• Best debit cards to use abroad 2024
• Buying travel money online
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Travel / Travel Money Card

Travel Money Card

Lock in exchange rates and load up to 13 currencies on one account to easily access your money while you’re travelling.

Features & benefits

$0 card issue fee.

Order a Travel Money Card for free in branch or online (search 'Travel Money Card' in the CommBank app or log into NetBank ).

Lock in exchange rates 

Load up to 13 currencies on one card before your trip, so you know how much you have to spend, no matter how the Australian Dollar moves.

Spend anywhere in the world 

Shop online, in-store, or over the phone wherever Visa is accepted, plus get access to Visa ® travel offers .

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Manage your holiday money and track your spending via the CommBank app or NetBank.

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Load up to 13 currencies on one account

Lock in exchange rates and load up to 13 currencies easily on one account – wherever you are in the world – through NetBank or the CommBank app:  

• United States Dollars (USD)
• Euros (EUR)
• Great British pounds (GBP)
• Australian Dollars (AUD)
• Japanese Yen (JPY)
• New Zealand Dollars (NZD)
• Hong Kong Dollars (HKD)
• Canadian Dollars (CAD)
• Singapore Dollars (SGD)
• Thai Baht (THB)
• Vietnamese Dong (VND)
• Chinese Renminbi (CNY)
• Emirati Dirham (AED)

No load or reload fees

You can load up to 13 currencies on your Travel Money Card with no load or reload fees. The exchange rate is the CommBank Retail Foreign Exchange Rate at the time of the conversion.

When you’re ready to pay for something, we will always try to complete the transaction for the country you are in. Make sure you have enough of the correct currency for the country you’re in on your card to avoid additional fees. If you don’t have enough of the local currency, we’ll use the next available currency instead, so long as there’s enough of it loaded on your card.

If you load multiple currencies on your Travel Money Card, you can  change the order  (the next available currency) anytime online. 

Rates & fees

See all fees and charges

Who can apply

To get your Travel Money Card, you’ll need to:

• Be at least 14 years old;
• Be registered to use NetBank, or register online New to CommBank? Sign up to NetBank at your nearest branch ;
• Provide a valid email address; and
• Have an Australian residential address

How to apply

Before your trip.

• Order a Travel Money Card in the CommBank app (search 'Travel Money Card'),  NetBank , or at your  nearest branch . 
• Load at least AUD 50 or the foreign currency equivalent to get started
• Once you’ve got your card,  activate and set your PIN online  in NetBank, or under Cards in the CommBank app
• Lock-in the exchange rate by  loading currency on your card in NetBank  or the CommBank app

How it works

During your trip.

• The  local currency will be automatically applied  when you pay for something, as long as it’s loaded on your card and you have sufficient funds
• Reload in real time , fee-free if your balance gets low
• Stick to daily transaction limits
• The maximum value of purchases per day is unlimited, however no more than your available balance
• The maximum amount you can withdraw from ATMs per day is AUD 2,500 or the foreign currency equivalent. Keep in mind most ATM operators have a limit on how much you can withdraw from an ATM per transaction
• The maximum amount for over-the-counter withdrawals per day is AUD 2,500 or the foreign currency equivalent.

When you’re home

• Got leftover currency? Exchange it for another currency or back into your CommBank account from  NetBank  or the CommBank app
• Top up  your Travel Money Card (it’s valid for 4 years) in preparation for your next trip
• Donate  your foreign (and local) currency to any CommBank or Bankwest branch and every cent will go to UNICEF
• How to manage your Travel Money Card

You’ve got your new card – here’s how to get the most out of it.

Find detailed info on getting started, loading and reloading currencies, setting a currency order, checking your balance and tracking your spend. Plus, info on Purchase Security Insurance Cover and access to Visa ® travel offers .

Manage your Travel Money Card

Need foreign cash? Have it ready before you travel

If you’re a CommBank customer, you can buy or sell up to 9 foreign currencies at selected CommBank branches in exchange for Australian Dollars.

You can also order foreign cash in over 30 currencies online – even if you’re not a CommBank customer.

Discover Foreign Cash

Planning an overseas trip?

Discover travel tips to help make the most of your European summer holiday.

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What to do if you’ve lost your card or it’s stolen.

If you’ve lost your Travel Money Card, or you think it might’ve been stolen, we can have an emergency replacement card sent to you anywhere in the world.

You may also be eligible for an Emergency Cash Advance, giving you access to cash within 24-48 hours (often on the same day).

Call us in an emergency on:

• 1300 660 700  within Australia
• +61 2 9999 3283 from overseas (reverse charges accepted). 

When calling from overseas using your mobile, standard roaming charges may apply. To avoid roaming charges, call the international operator in the country you’re in from a landline and give them our reverse charges number +61 2 9999 3283.

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Things you should know

1 The cash withdrawal fee will not apply to cash withdrawals made in Australia.

2  For more information relating to the complimentary Purchase Security Insurance refer to  Travel Money Card Complimentary Insurance Information Booklet (PDF) .

As this advice has been prepared without considering your objectives, financial situation or needs, you should before acting on this advice, consider its appropriateness to your circumstances.  The Product Disclosure Statement and Conditions of Use (PDF)  issued by Commonwealth Bank of Australia ABN 48 123 123 124 for Travel Money Card should be considered before making any decision about this product.  View our Financial Services Guide (PDF) .

To raise a dispute related to your Travel Money Card please complete  this form for transactions (PDF)  or  this form for ATM disputes (PDF) .

Any withdrawal or balance enquiry fee will come from the currency for which you are using your card. If this currency is not loaded on your card, the fee will be taken from the first (or sole) currency loaded on your card. Any SMS balance alert fee will come from the first (or sole) currency loaded on your card.

The target market for this product will be found within the product’s Target Market Determination,  available here .

Hays Travel Money Card

The Hays Travel Mastercard® is free to use in millions of locations worldwide where Mastercard® Prepaid is accepted when you spend in a currency loaded on the card: including restaurants, bars, and shops. This easy-to-use pre-paid card allows contactless transactions, chip and PIN, worldwide cash withdrawals, and also 24/7 phone support. Take your currency card with you on every holiday, simply top up and go! Just call into your local Hays Travel branch today to purchase your Hays Travel Prepaid Travel Money Card. *The Hays Travel Mastercard is only available to UK residents aged 18 or over. A valid Passport or Drivers Licence must be presented in the branch at the time of purchase.

BUY YOUR HAYS TRAVEL MASTERCARD

The Hays Travel Money Card is the safe and easy way to take your money on holiday!

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Connect to your google pay wallet

You can now link your Hays Travel Mastercard with Google Pay for swift and secure transactions wherever you go. Say goodbye to carrying physical cards and hello to effortless payments with just a tap of your phone. Simplify your travel experience today!

The Hays Travel Currency Card app

The Hays Travel Currency Card App enables you to fully manage your travel card account and stay in control of your holiday finances at home and abroad. The app enables you to:

• Instantly top up multiple different currencies from anywhere in the world
• Check your real time balance
• Lock-in exchange rates when you top up and transfer money between currencies
• Keep track of your spending and view transactions
• Freeze/Unfreeze your card
• Check your card PIN
• Manage your personal details

Download our app here

Manage the card on the go via Hays Travel Currency Card App

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Go cashless with our prepaid Mastercard®. Take advantage of contactless payment, load up to 22 currencies and manage everything with our app, making travel simple and secure

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Delivery options, available branches and fees may vary by value and currency. Branch rates will differ from online rates. T&Cs apply .

Why get your holiday cash from Post Office?

• Order online, buy in branch, or choose delivery to your home or local branch 
• 100% refund guarantee* if your holiday’s cancelled, at the same exchange rate, excluding bank and delivery charges. Just send your receipts and evidence of cancellation to us within 28 days of purchase. *T&Cs apply
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Click and collect euros and US dollars in 2 hours. Terms and conditions apply 

Today’s online rates

Rate correct as of 19/05/2024

Travel Money Card (TMC) rates may differ. Branch rates may vary. Delivery methods may vary. Terms and conditions apply

Safe and secure holiday spending

Manage your holiday funds on a Travel Money Card with our free travel app. Top it up, freeze it, swap currencies, view your PIN and more.

New-look travel app out now

Our revamped travel app’s out now. It makes buying, topping up and managing Travel Money Cards with up to 22 currencies a breeze. Buying and accessing Travel Insurance on the move effortless. And it puts holiday extras like airport hotels, lounge access and more at your fingertips. All with an improved user experience. Find out what’s changed .

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Please immediately call: 020 7937 0280

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Read our travel money FAQs or contact our team about buying currency online or in branch:

Visit our travel money support page

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Why Travel Money

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Currency calculator.

Our currency calculator is a quick and easy way to check our latest foreign currency exchange rates.

What do I need to bring to collect my foreign currency?

The benefits of exchanging your holiday money with M&S Bank

Wide range of foreign currencies.

We offer a wide range of foreign currencies in our Bureaux, with more available to order online. It is easy to compare travel money with M&S Bank. See footnote * *

As well as the euro and US dollar , our range includes currencies such as the UAE dirham, Bulgarian lev , Turkish lira , Thai baht and Mexican peso .

Travel money sale now on!

Click & Collect sale on euro and US dollar available until 11 April 2023.

£150 minimum order. Exchange rates will still fluctuate daily during the sale period, but you’ll receive the best rate applicable on the date your order is placed. Rates shown when placing your order are sale rates. Offer subject to availability, buy back not included. Cancellation fee and full T&Cs apply.

SameDay Click & Collect

• Order between £150 and £2,500
• Euro and US dollars available to order and collect in over 450 stores *
• Order and collect euro , US dollars , Turkish lira , New Zealand dollar , Australian dollar , Thai baht , Canadian dollar , South African rand and UAE dirham, from our Bureau the same day

Find my nearest Click and Collect store

Click & Collect † See footnote †

• A wide range of currencies available to collect from our in store Bureaux See footnote * *
• Order and collect from the next day

Our best rates on euro and US dollar when you Click & Collect

To get an even better exchange rate on euro and US dollar , use our Click & Collect service. Pay now and lock in today's rate, then collect from a store at a time convenient for you.

CHANGE4CHANGE

If you would like to donate your unused foreign currency to charity we have Change4Change collection boxes in our Bureaux, with all the money we collect going to Breast Cancer Now. Since 2007, we have raised over £630,000 for the charity via your Change4Change donations.

Find a Bureau

Travel money buy-back service

When your holiday is over, we'll buy back your leftover holiday money at the buy-back rate on the day you return it to the Bureau de Change. That's all unused notes in any denomination we sell.

Find out more about M&S Travel Money Buy Back service

If you would like to donate your unused foreign currency to charity we have Change4Change collection boxes in our Bureau stores, with all the money we collect going to Breast Cancer Now. Since 2007, we have raised over £630,000 for the charity via your Change4Change donations.

Find a bureau

When your holiday is over, we'll buy back your leftover holiday money at the buy-back rate on the day you return it to the bureau de change. That's all unused notes in any denomination we sell. Proof of purchase may be required so please retain your receipt, just in case.

Up to 55 days' interest-free credit when purchasing with an M&S Credit Card See footnote ** **

Representative example: based on an assumed credit limit of £1,200, our 24.9% rate per annum (variable) for purchases gives a representative rate of 24.9% APR (variable). Credit is subject to status.

No cash advance fee when M&S Travel Money is purchased using an M&S Credit Card.

What you'll need to bring

To collect foreign currency you've purchased online, you will need:

• A valid UK photographic driving licence, passport or EU national identity card (Romanian & Greek National ID Cards are not accepted)
• Your card you used to place your order - both ID and payment card must have the same name
• Your order number (this can be found on your confirmation email)

To purchase foreign currency in one of our Bureaux, you will need:

• A valid UK photographic driving licence, passport or EU national identity card - both ID and payment card must have the same name

Find my nearest M&S Bureau de Change

Use the M&S Bank Bureau Finder to find your nearest M&S Bureau de Change and opening hours.

Find a Bureau de Change

Manage your existing travel insurance policy

Want to renew, change or cancel your policy or need to make a claim?

Find out more - about managing your travel insurance policy

Need some winter sun?

Planning a winter sunshine break? Use our handy guide to help with your planning.

Ready to hit the slopes?

Thinking about a skiing holiday in Europe, North America or Asia? Use our guide to help you with your trip.

Planning to travel with cash?

Our guide explains how much money you can take abroad.

Learn more about the euro

How many countries use the euro? When was the euro first introduced? Find out more.

Using your credit card abroad

Going on holiday? Get to grips with how you can use a credit card outside of the UK.

What is RFID blocking technology?

If you are concerned about having your passport or credit card skimmed whilst abroad learn more about RFID technology.

What influences exchange rates?

Discover what factors contribute to the exchange rates that you see today.

How to budget for long term travel

Going on a long-term trip? Read our guide on how to budget successfully to ensure you have the most memorable time possible.

Visiting a Christmas market?

Learn more about the many Christmas markets across Europe.

Frequently asked questions

Can i use a credit card to purchase travel money.

Yes, you can use a credit card to purchase travel money. However, please check with your card provider as they may apply fees or charges e.g. cash advance fees or other fees.

Our Bureaux accept the majority of UK issued major credit cards.

How much cash can I travel with?

You can learn more about taking cash in and out of Great Britain and declaring cash by visiting gov.uk .

Should I get foreign currency before I travel?

Buying your travel money before you travel can be an important part of pre-holiday preparation. You can use our Currency Converter to get the latest exchange rates across worldwide holiday destinations.

Where can I collect M&S Travel Money from?

You can collect M&S Travel Money from over 100 bureaux de change or from over 350 stores nationwide. You can find your nearest M&S Bureau de Change using our Bureau Finder .

Where can I get the best exchange rate?

Exchange rates change on a regular basis and vary depending on the currency you order. At M&S Bank, we offer our best rates for euro and US dollar via the Click & Collect service, where you can order your currency and collect from the next day in an M&S location local to you. If you order online before 4pm, you can collect the same day. For all other currencies, check our website for more information.

How much travel money can I order?

For orders placed via Click & Collect, there is a minimum £150 order and maximum of £2,500. For Bureau de Change walk-ups, there is no minimum order.

How do I confirm my Travel Money purchase using my M&S Credit Card?

There are three ways to verify your payments - you can use our M&S Banking App, a one-time passcode via text message or by using a card reader to verify your payment. Use our how-to videos or step-by-step guides to find out more.

Have a question about travel money or other travel products?

Ask our Virtual Assistant

Useful information

View exchange rates

Find out more about euro rates

Find out more about US dollar rates

Find out more about Australian dollar rates

Find out more about Canadian dollar rates

Find out more about New Zealand dollar rates

Find out about M&S Travel Insurance

Important documents

M&S Travel Money Terms and Conditions

M&S Travel Money Click & Collect Sale Terms and Conditions

You may require Adobe PDF reader to view these documents. Download Adobe Reader

* Subject to availability

** With the M&S Credit Card, you'll receive up to 55 days' interest-free credit when you pay your balance in full and on time each month.

† Next Day collection is subject to availability. Please confirm your collection date and location at the checkout.

Travel Money

• Clubcard Prices Clubcard Prices

Clubcard Prices are available for all currencies, just enter your Clubcard number on the next page. Full T&Cs below.

• Click & Collect Click & Collect

Collect for free from more than 350 Tesco stores with a Bureau de change.

• Home Delivery Home Delivery

Free delivery on orders worth £500 or more.

Exchange rates may vary during the day and will vary whether buying in store, online or via phone.

Select currency

Error: Please select if you have a Clubcard to continue

Do you have a Tesco Clubcard?

How much would you like?

Error: Please enter an amount between £75 and £2,500

Find a Store to get your Travel Money

With Click & Collect you can order your travel money online and pick it up from selected Tesco stores near you, or you can buy instantly from an in-store travel money bureau.

Enter a postcode or location

Search results

3 easy ways to purchase Travel Money

Click & collect.

• Order online and choose to collect from over 500 Tesco store locations Order online and choose to collect from over 500 Tesco store locations
• Pick a collection day that works for you Pick a collection day that works for you
• Order euro or US Dollars Order Euros or US Dollars before 2pm and you can pick-up from most stores the next day

About Click & Collect

Home delivery

• Order online by 2pm Mon-Thurs for next day delivery (excludes bank and public holidays), to most parts of the UK Order online by 2pm Mon-Thurs for next day delivery (excludes bank and public holidays), to most parts of the UK
• Free delivery for orders of £500 or more Free delivery for orders of £500 or more
• Secure delivery via Royal Mail Special Delivery Secure delivery via Royal Mail Special Delivery

About Home Delivery

Buy in-store

• Buy your foreign currency instantly in our travel money bureaux in selected Tesco stores across the UK Buy your foreign currency instantly in our travel money bureaux in selected Tesco stores across the UK
• Turn unspent travel money back into Pounds with our Buy Back service Turn unspent travel money back into Pounds with our Buy Back service

About Buy Back

Best Travel Money Provider 2023/24

Now in it’s 26th year and voted for by the public, the Personal Finance Awards celebrate the best business and products in the UK personal finance market. We’re delighted that you voted us as Best Travel Money Provider 2023/24.

Additional Information

Ordering and collection.

You can pick a collection date when you're ordering your money. Order before 2pm and you can pick up Euros and US Dollars from most Tesco Travel Money bureaux the next day. Other currencies can take up to five days. Alternatively, you can order any currency for next weekday delivery to most of the selected customer service desks.

Please make sure you collect your money within four days of your chosen date. If you don't, your order will be returned and your purchase will be refunded, minus a £10 administration charge.

Will I be charged if I cancel my order?

Collection fees

Click and collect from stores with a Bureaux de change:

• Free for all orders

For non-bureaux stores with a click and collect function:

• £2.50 for orders of £100.00 - £499.99
• Free for orders of £500 or more

What to bring

For security, travel money will need to be picked up by the person who placed the order.

• a valid photo ID – either a passport, EU ID card, or full UK driving license (we do not accept provisional driving licenses)
• your order reference number
• the card you used to place the order (you’ll also need to know the card’s PIN)

Home Delivery

We can send your travel money directly to you via secure Royal Mail Special Delivery. You can even pick the delivery date that suits you best.

We also offer next-day home delivery on all currencies to most parts of the UK if ordered before 2pm Monday-Thursday.

Check the Royal Mail site to find out if your postcode is eligible for next day delivery

Delivery costs

£4.99 for orders of £100 - £499.99 Free for orders of £500 or more

• You’ll need to make sure there’s someone at home to sign for your delivery.
• Bank holidays and public holidays will affect delivery times.
• We are unable to cancel or amend home delivery orders after they have been placed.

Clubcard Prices

Clubcard Prices are available on the sell rate only for currencies in stock online, on your date of purchase. The Clubcard Price will be better than the standard rate advertised online on the date of purchase. When purchasing online you must enter a valid Clubcard number to obtain the Clubcard Price rate. Exchange rates may vary whether buying in store, online or by phone.

Clubcard Prices apply to foreign currency notes in stock on your date of online purchase. Due to constant market and currency fluctuations, rates on the date of purchase cannot be compared to another day’s rates. The actual rate you receive may vary depending on market fluctuations. Clubcard data is captured by Travelex on behalf of Tesco Bank.

Check out the Tesco Bank privacy policy to find out more.

Buying foreign currency using a credit or debit card

No matter how you purchase your travel money, whether it be in store, online or over the phone, you will not be charged any card handling fee by us. However, regardless of your card type, your card provider may apply fees, e.g. cash advance fees or other fees, so please check with them before you purchase your travel money.

Click & Collect cancellations

You can cancel a Click & Collect order any time prior to collection. We'll refund you with the full Sterling amount that you paid for your order, unless you cancel less than 24 hours before your collection date, in which case we'll charge a £10 late cancellation fee.

We are unable to refund any fees charged by your card issuer, so please contact them if you have any further queries.

When you get home, we'll buy your travel money back

Let us turn your unspent holiday money into Pounds. It couldn't be simpler.

Just pop into one of our in-store Travel Money Bureaux when you get home. We buy back all the currencies we sell in most banknote values and also the Multi-currency Cash Passport™. Buy back rates may vary during the day.

It doesn't matter where you bought your travel money, even if it wasn't from a Tesco Travel Money Bureau, we'll still buy it back.

More about currency buy back

How our Price Match works

If you find a better exchange rate advertised by another provider within three miles of your chosen Tesco Travel Money Bureau, on the same day, we'll match it.

Price Match only applies in store on a like-for-like basis on sell transactions and does not apply to any exchange rate advertised online or by phone. This is not available in conjunction with any other offer. We reserve the right to verify the rate you have found and the three mile distance (using an appropriate route planning tool).

See full terms and conditions below.

Tesco Travel Money is provided by Travelex

Tesco Travel Money ordered in store is provided by Travelex Agency Services Limited. Registered No. 04621879. Tesco Travel Money ordered online or by telephone is provided by Travelex Currency Services Limited. Registered No. 03797356. Registered Office for both companies: Worldwide House, Thorpewood, Peterborough, PE3 6SB.

Multi-currency Cash Passport is issued by PrePay Technologies Limited pursuant to license by Mastercard® International. PrePay Technologies Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN: 900010) for the issuing of electronic money and payment instruments. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

How much travel money will I need?

Whether it’s a burger in Brisbane or a taxi in Toronto, get a feel for how far your travel money might go with our foreign currency guides. We’ll help you manage your travel budget like a pro.

Currency Converter

Use our currency converter to convert over 190 currencies and 4 metals.

To get started enter the values below and calculate today’s exchange rates for any two currencies or metals.

Bankrate’s currency converter uses OANDA Rates™ which have been compiled from leading market data and are trusted by worldwide corporations and authorities.

Investing Disclosure

The investment information provided on this page is for informational and general educational purposes only and should not be construed as investment or financial advice. Bankrate does not offer advisory or brokerage services, nor does it provide individualized recommendations or personalized investment advice. Investment decisions should be based on an evaluation of your own personal financial situation, needs, risk tolerance and investment objectives. Investing involves risk including the potential loss of principal.

Good, bad and ugly of currency exchange

By mitch strohm  • bankrate.com.

If you're not careful, currency conversion fees can cost more than you expect. To get the best bang for your U.S. dollar abroad, update your knowledge of currency exchange.

According to Douglas Stallings, senior editor for Fodor's Travel, travelers need to be aware of currency exchange options abroad because of costs. "Many options carry extraordinary hidden fees, and some places are just more difficult to negotiate since they are more cash-based than the typical American is used to," Stallings says.

In lieu of foreign currency exchange desks at airports and major hotels, there are more convenient and cheaper ways to exchange currency, Stallings says. While some desks advertise "no-fee" exchanges, they still build in a hefty profit by offering a high rate.

Before your next trip, take a look at the best and worst methods of currency exchange by following Bankrate's "thumbs-up" or "thumbs-down" rating:

Credit card: Thumbs up

Credit cards offer some of the lowest currency exchange rates. Card companies base their exchange rates on wholesale prices offered to bigger institutions, so you're bound to get a fair rate. Foreign transaction fees are a different story.

"Most people have multiple credit cards, and each could have a different fee structure. You can save money on fees by making some calls before you go and knowing which cards to use," says Tom Meyers, editor in chief of EuroCheapo.com, a guide to budget travel in Europe.

Some major card companies have eliminated foreign transaction fees on all of their cards. Others are just offering a few cards without foreign fees.

In addition to cards without fees, think about getting a card with the latest technology. Maria Brusilovsky, spokeswoman for Travelex Currency Services, says chip and PIN technology is now the preferred way of making credit card and debit card transactions in Europe, and some vendors only accept chip and PIN cards.

The "chip" refers to a microchip embedded into the card to secure account information. The "PIN" refers to a personal identification number that the cardholder enters to authorize payment.

Debit card: Thumbs up

Using your debit card at ATMs is one recommended way to get cash when traveling abroad. "We consider the ATM to be the best choice in terms of convenience, exchange rates and fees," Meyers says.

Fees vary by institution. Some charge a flat rate, others charge a percentage, and still others charge both, Meyers says. To save money, keep ATM trips to a minimum.

"If your bank charges a flat rate for the withdrawal, you should certainly minimize your trips to the ATM by withdrawing larger sums each time you go," Meyers says.

And do your homework. Stallings says if you take money out of a bank that has a relationship with your bank, you may be able to avoid some fees.

Heads up:  Meyers advises to call your bank before you go to ask about fee structures for ATM withdrawals. Each bank has its own fees for ATM debit card withdrawals.

Prepaid card: Neutral

Prepaid cards for foreign use are becoming more widespread. For example, one major card company has started to offer prepaid cards free of the typical recurring fees. It also snubs foreign transaction fees, and it charges the same rate as its regular credit card when converting currency.

Another company offers a prepaid chip and PIN card, which allows travelers to load up on euros or pounds and use it like a debit card. They can be a good option for Americans traveling without a card using chip and PIN technology.

Stallings says one upside to chip and PIN prepaid debit cards is they can be used in an automated payment machine to buy train tickets and to pay at unstaffed gas pumps and highway toll booths in Europe. You lock in the exchange rate at the time you load or reload it.

Prepaid cards are also convenient and safe since they reduce the need to carry as much currency and because a PIN is usually required to take out funds, Stallings says.

Heads up:  Stallings warns that some prepaid debit cards can come with substantial fees, may not be usable everywhere and can leave you without funds if stolen. He advises to read the fine print before purchasing.

Airport or hotel exchange desk: Thumbs down

Airport exchange desks have some of the highest currency exchange rates, which means you pay more in dollars for conversion.

Meyers of EuroCheapo.com recommends walking straight past the currency exchange counter upon arrival or in the airport baggage claim area. "These companies pay a lot of money to rent those spaces, and they make it up through service fees and lousy exchange rates," he says.

Airport exchange desks depend on their convenience to make money. You'll be better off finding an ATM in the airport and using your debit card to get cash.

Hotel exchange desks are just as pricey but for a different reason. "The hotels that still offer this service usually give awful exchange rates because the entire process is a hassle for them," Meyers says.

Heads up:  Don't be duped by the sign at the currency exchange counter claiming "no fees, no commissions." Meyers says they'll make their money through higher exchange rates, even if they don't charge you a direct fee.

Dynamic currency conversion: Thumbs down

Some credit card companies give U.S. consumers the option of paying in U.S. dollars or the local currency during a transaction abroad. It's called dynamic currency conversion. If you're not careful, dynamic currency conversion could cost you big time.

"Primarily in Europe, dynamic currency conversion allows your credit card purchase to be charged in your home currency. While this seems convenient, it is one of the worst deals in travel and should always be avoided," Fodor's Stallings says.

According to Meyers, it's always better to pay in the local currency when traveling. "The local bank there will convert it back into euros, and then your U.S.-based bank will convert it again into dollars. This adds an extra conversion, which is good for the banks but not for you," says Meyers.

The extra conversion means you will pay more in fees. "You basically pay twice for every dynamic currency conversion transaction -- once to your own bank for the privilege of using your card abroad and once to the company processing the transaction," Stallings says.

Heads up:  According to Stallings, you should insist that your transaction be charged in the local currency or just pay in cash.

Traveler's checks: Thumbs down

Sales of traveler's checks are in decline as travelers adopt new technology and more convenient methods of payment, says Brusilovsky of Travelex Currency Services. According to the U.S. Federal Reserve, traveler's checks peaked in the 1990s but have declined in use ever since. At their peak, there were more than $9 billion in traveler's checks outstanding. Now, there are only about $4 billion.

But they can still provide a safety net, Meyers says. "Many businesses abroad still accept traveler's checks, if they're made out in euros," he says. But, if they are made out in dollars, you'll need to convert them at a bank or currency counter, which can mean a fee or a lousy conversion rate.

Heads up:  A few hundred dollars in traveler's checks can be a good emergency fund if you have any trouble with your cards or lose your wallet, Meyers says.

Cash advance: Thumbs down

Getting a cash advance on your credit card is an easy way to break the bank, whether you're abroad or in the U.S.

Your card might offer a fair currency exchange rate, but the interest rate on cash advances can be high. Cash-advance interest rates are more than 20 percent on some cards, and the interest starts accruing as soon as you take out the advance. For example, one bank's reward card has a cash advance annual percentage rate, or APR, of 24.9 percent. There's also a fee tacked on for taking out the advance.

"Before you leave, call your bank and ask what it charges for cash advances abroad," Meyers says.

Heads up: If you're in a bind, it might be worthwhile to take a cash advance. Just make sure to pay it off before the interest has time to accrue.

CURRENCY CONVERTER RESOURCES

• Foreign transaction fee credit card chart
• 4 ways to minimize foreign currency risk
• Opening a foreign currency account

Riviera Maya Currency Guide for Travel in 2024

P lanning a trip to Mexico and wondering what the Riviera Maya currency is and the best ways to pay for things during your vacation? You’ve come to the right guide!

As a travel blogger that lives in Playa del Carmen , I’m here to help you understand the basics of money management in Riviera Maya so that you can have a stress-free and enjoyable vacation.

In this Riviera Maya currency guide , I’ll explain the official currency used in Riviera Maya, whether or not you need to bring pesos with you, and provide some tips on using ATMs and managing money while traveling.

So if you’re wondering if you need dollars or pesos in Riviera Maya and exactly how much money to bring along, I’ve got you covered in this comprehensive currency guide!

Ready to learn how to safely and securely manage your money in Riviera Maya? Let’s get started!

Planning a trip to Mexico? Use my favorite travel resources!

Hotels: Expedia or Booking.com

Flights: Skyscanner

Rental Cars: Discover Cars

Tours & Activities: Viator

Travel Insurance: Travel Insurance Master

What Currency is Used in Riviera Maya Mexico?

The official currency used in Riviera Maya (and all of Mexico) is the Mexican Peso (MXN). However, you’ll find that US dollars are widely accepted, particularly in tourist areas.

You may even find that some restaurants and shops will display prices in both pesos and US dollars and accept payments with either currency.

What is the Best Currency to Take to Riviera Maya?

The best currency to take to Riviera Maya is the Mexican Peso (MXN), as it’s the official currency of the country.

While US dollars are widely accepted in Riviera Maya, you’ll often get better exchange rates and prices when paying with pesos.

Does Riviera Maya Accept US Dollars?

Yes, US dollars are widely accepted in Riviera Maya at restaurants, beach clubs, hotels, and grocery stores. You can even pay for taxis with USD.

Riviera Maya thrives on tourism, so they’ve become used to dealing with American tourists and thus the US dollar is accepted pretty much everywhere.

This makes paying in US dollars very easy but keep in mind that each restaurant, hotel, or establishment will have their own set exchange rate, which may be worse than the official exchange rate.

So if you really want to save money on your purchases, it’s best to pay in pesos.

Additionally, when paying in United States dollars, you’ll typically receive your change in pesos, which can get confusing if you’re not familiar with using the currency.

Is it Better to Pay in Dollars or Pesos in Riviera Maya?

US dollars are accepted pretty much everywhere in Riviera Maya so it’s possible to get by without needing to exchange any money.

However, since the official currency in Riviera Maya is the Mexican peso (MXN), you’ll typically save money if you pay in pesos.

Basically, if you’re not worried about losing a few dollars here and there on the exchange rate, it’s possible to just use US dollars for your entire trip.

But if you want to get the best value for money, it’s best to pay in Mexican pesos.

And while credit cards are accepted in many places, you’ll still need cash to pay for taxis, tips, souvenir shopping, and smaller purchases.

Are Credit Cards Accepted in Riviera Maya?

Yes, credit cards are widely accepted in Riviera Maya and you can use them in most restaurants, large retail stores, hotels, and beach clubs.

Visa and Mastercard are the most widely accepted credit cards, and American Express and Discover are less commonly accepted.

You’ll just want to make sure to use a credit card with no foreign transaction fees. I personally use the Chase Sapphire Preferred card which has tons of great travel perks.

I would also recommend using a credit card instead of a debit card when possible, as there are typically less fees and the protection benefits are much better.

And even though credit cards are accepted in many places, it’s still a good idea to have some cash on hand to pay for transportation, tips, and smaller purchases. For example, some smaller restaurants and taco joints in Playa del Carmen will be cash only.

It’s also important to know that taxis in Riviera Maya do not accept credit cards so you’ll need to carry enough cash if you’re planning on taking taxis.

Should You Get Pesos Before Going to Riviera Maya?

If you want to be really prepared, I would recommend getting some pesos before going to Riviera Maya so you won’t have to worry about getting them once you arrive.

The easiest way to do this is to order Mexican pesos from your bank ahead of time and it typically takes around 1-3 days for delivery.

If you don’t want to do that or don’t have enough time to do so, you can always withdraw pesos from an ATM once you arrive in Mexico or change dollars to pesos at a currency exchange counter.

Just be sure to check with your bank ahead of time to see if they have any fees for international ATM withdrawals.

What Will You Need Cash for in Riviera Maya?

While credit cards are widely accepted in Riviera Maya, you’ll still need to have some cash on hand if you’re planning to leave the resort, explore the nearby towns, or do some Riviera Maya excursions .

Here are some examples of things you will need cash for in Riviera Maya:

• Tips for hotel staff at all-inclusive resorts
• Tips for your Cancun airport transportation driver
• Tips for tour guides
• Souvenir shopping at local shops
• Local taco joints or mom-and-pop type restaurants
• Street food and street vendors
• Entrance fees for Riviera Maya cenotes
• Entrance fees for archeological sites (like the Tulum Ruins or Chichen Itza )

How Many Pesos Should You Bring to Riviera Maya?

Here is a general guideline to give you a rough idea of how much cash to bring to Riviera Maya:

• Below Average Spending: $20 USD (~$340 pesos) per day
• Average Spending: $40 USD (~$680 pesos) per day
• Above Average Spending: $60+ USD (~$1020 pesos) per day

Note these guidelines are based on how much cash to bring to Riviera Maya Mexico for the tips and extras outlined above, assuming you’re using your credit cards for most of your purchases.

Additionally, these amounts are based on a single traveler or a single party that’s traveling together.

If you plan to pay with cash in Mexico exclusively, then you’ll want to bring more money than the amounts above.

You can also play around with my Mexico cash calculator ! This is a handy tool to give you an estimate of how much cash you’ll need during your trip depending on the length of your stay, number of people, and spending habits.

How to Get Pesos for Riviera Maya

Here are a few options for getting pesos for your trip to Riviera Maya Mexico:

Order pesos from your bank ahead of time

If you’re someone that likes to plan ahead and have everything ready to go before your trip, then I would recommend ordering pesos from your bank before you leave for Mexico.

While this option takes a bit more time and advance planning, it’s cheaper than exchanging currency at a counter in Mexico once you arrive.

Plus, you won’t have to deal with finding an ATM or currency counter once you get there, which can add stress to your trip.

Most large banks have the option to order foreign currency online or through a mobile app but it typically takes 1-3 business days for delivery.

Withdraw pesos from an ATM in Mexico

If you don’t want to order pesos ahead of time, the quickest and easiest way to get pesos in Mexico is to simply withdraw cash from an ATM once you arrive.

You can find ATM machines in most major tourist spots, hotels, and grocery stores, or even at the Cancun Airport once you land.

While your bank might charge a fee for withdrawing money from foreign ATMs, it will typically be cheaper compared to a commission-based money exchange counter.

Exchange dollars for pesos at a currency exchange counter

The final option for getting pesos is to exchange US dollars for pesos at the Cancun Airport or at a foreign currency exchange counter.

While this is a bit more convenient, I wouldn’t recommend it because it’s typically the most expensive option.

You’ll have access to cash right away but currency exchange counters in Mexico typically have some of the highest conversion rates–and they can be a little sketchy looking.

If you really do need to use a currency exchange counter, be sure to check the current exchange rate carefully before deciding whether or not this is the best option for you.

Using ATMs in Riviera Maya

Here are some tips for withdrawing money from ATMs in Riviera Maya:

Best ATMs in Riviera Maya

When using ATMs in Riviera Maya, it is important to only use an official bank ATM and avoid using any random or unidentified ATM found on the street.

You might find nameless ATMs in the main tourist areas (like when shopping on 5th Avenue in Playa del Carmen ) but these are more likely to have card skimmers and hackers that could potentially drain your bank account.

For optimal security, it is best to use official bank ATMs located directly at a local bank or at places such as grocery stores or shopping centers.

If you are staying at one of the larger resorts in Riviera Maya , they will likely have an ATM in the hotel lobby and they are typically pretty safe to use.

And if you go to Playa del Carmen , Cancun , Tulum , or Puerto Morelos , you can find bank ATMs not far from the tourist areas or at larger grocery stores like Chedraui, Walmart , or Mega.

These are the major banks and ATM locations in Riviera Maya that you’ll want to look out for:

• BBVA Bancomer
• Scotiabank (partnered with Bank of America)

Do you need travel insurance for Mexico? Yes! Most insurance plans in your home country will not cover incidents abroad. I recommend using Travel Insurance Master, which is a handy travel insurance marketplace where you can compare policies. Get a FREE quote by clicking here !

Bank Partnerships

Before your trip to Mexico, it’s a good idea to check with your bank to see if they have any partnerships with Mexican banks.

Several large banks, including Bank of America, have established partnerships with foreign banks around the world.

If your bank does have a partnership with a Mexican bank, you will likely be able to withdraw money without a usage fee.

However, there is typically still an international withdrawal fee that is a small percentage of the total withdrawal amount.

For example, Bank of America has a partnership with Scotiabank in Mexico. This means you can withdraw money from a Scotiabank ATM in Mexico and avoid a $5 USD international ATM usage fee.

However, you will still be charged 3% of the converted US dollar amount that you are withdrawing.

Riviera Maya ATM Fees

When withdrawing money from ATMs in Riviera Maya, you will likely be charged a usage fee and/or an international transaction fee that will be a small percentage of the total amount you take out.

Let’s say you are a Bank of America customer and you were to withdraw $2,000 pesos in local currency from a Scotiabank ATM in Mexico.

Here’s an example of the cost breakdown:

• Usage Fee : $5 USD (waived) = $0 USD
• Currency Conversion: $2000 MXN at BOA Conversion Rate (.0548) = $109.60 USD
• International Transaction Fee: $110.60 x 3% = $3.28 USD
• Total Amount for this Withdrawal : $112.88 USD

If you weren’t to use a Scotiabank ATM, then you would be charged the $5 usage fee in addition. This can add up depending on how many times you visit the ATM!

Riviera Maya ATM Conversion Rates

If there’s one thing to remember about using ATMs in Riviera Maya (and anywhere in Mexico), it’s to always decline the conversion rate offered by the ATM.

When withdrawing money from an ATM, you’ll be prompted to accept or decline the conversion rate offered by that particular ATM– always hit DECLINE!

ATMs always offer terrible exchange rates, which are much higher than what you would get from your bank.

By hitting decline, your financial institution will automatically charge you with the standard conversion rate, which is typically a much better deal.

Using Mexican Currency

Here are some helpful things to know about using the official currency in Mexico:

Mexican Peso Bills

Here’s a rough USD conversion for the Mexican peso denominations to give you an idea of the value of money:

• $10 peso coin = ~$.50 USD
• $50 peso bill = ~$2.50 USD
• $100 peso bill = ~$5 USD
• $200 peso bill = ~$10 USD
• $500 peso bill = ~$25 USD
• $1000 peso bill =~$50 USD

Easy Pesos to USD Currency Conversion Trick

If you’re not familiar with paying in Mexican pesos, it can be confusing to figure out exactly how much you’re spending.

However, there is a simple trick to convert pesos to American dollars easily in your head – just take off a zero and divide the price of the item by 2!

For example, if something is $500 pesos, you would take off a zero ($50) and divide the amount by 2 to get to a value of around $25 USD.

Of course, this is not an exact value (especially recently with the peso gaining value) but will give you a rough estimate of how much an item costs.

Alternatively, you can pull out the calculator on your phone or use a currency converter app to get the exact value.

Easy MXN-USD Currency Conversion Trick: Take off a zero and divide by 2!

Riviera Maya Money Tips

Follow these Riviera Maya travel tips to save money when it comes to Riviera Maya and Playa del Carmen money management:

• Consider your options when choosing between pesos or USD: When paying at restaurants or retail stores in Riviera Maya, you’ll likely be given the option to pay in pesos or USD (even when paying with a credit card). If you really want to save money, do a quick currency conversion on your phone to see which is the better deal. It used to always be a better deal to pay in pesos but with current exchange rates, it may be cheaper to pay in USD.
• Decline the currency conversion rate at the ATM: When withdrawing cash from an ATM, you’ll be asked if you want to accept the ATM’s currency conversion rate. Always decline this option and instead you’ll be charged at the best exchange rate from your bank.
• Use a credit card instead of a debit card: If you’re going to be paying with a card, it’s best to use a credit card instead of your debit card. Many travel cards like the Chase Sapphire Preferred card have no foreign transaction fees so you’ll save money on costly currency exchange fees on your debit card. Plus, credit cards typically have better protections in case of fraud or theft.
• Check with your bank to see if they have any partnerships with banks in Mexico: If your bank has a partnership with a Mexican bank, you can likely avoid added ATM fees when using your debit card to withdraw money in Mexico.
• Only use official bank ATMs: Avoid using random or nameless ATMs, as these are often less secure and can be setup with card skimmers. Withdrawing money from official bank ATMs at banks, grocery stores, or shopping centers is a safer option. Some of the most popular local banks in Riviera Maya are Scotiabank, HSBC, CiBanco, Santander, and BBVA.
• Don’t carry large amounts of cash: It’s best to only carry the amount of cash that you need for your daily expenses in case of theft. Flaunting large amounts of cash is a safety risk in Riviera Maya and can make you a target for theft or getting ripped off. It’s also a good idea to keep a backup credit or debit card (and some cash) in the hotel safe in case anything happens to your primary card.
• Don’t forget to bring cash for tips: If you’re planning to do any of the fun activities in Riviera Maya like Riviera Maya zipline tours , snorkeling tours , or ATV adventures , be sure to bring cash to tip the tour guides. It’s customary to tip around 10-15% of the total tour price.

Riviera Maya Currency: FAQs

Here are the answers to some of the most frequently asked questions about money and currency in Riviera Maya Mexico:

Yes, tipping is expected at all inclusive resorts in Playa del Carmen , Cancun, and Riviera Maya although it’s not required. You can give tips to the waiters, bartenders, and housekeeping staff as a sign of appreciation for their service.

It’s customary to tip around 10-15% of the total tour price. However, if the tour guide did a particularly good job, you can give them more.

No, it is not customary to tip taxi drivers in Riviera Maya so you can feel comfortable just paying the exact price of the fare.

Yes, you can use a debit card in Riviera Maya, however I would recommend using a credit card if possible. Most travel credit cards like Chase Sapphire Preferred have no foreign transaction fees and offer greater protection in case of fraud or theft.

No, Uber in Playa del Carmen and Riviera Maya is currently not available or safe to use. While legislation was passed allowing Uber to operate in the state of Quintana Roo, opposition from local taxi drivers has still made it unsafe to try and use Uber in the region. So if you’re planning on taking taxis in Riviera Maya, you’ll need to make sure you have enough cash on hand as credit cards are not accepted.

Conclusion: Riviera Maya Currency Guide

So should you use pesos or dollars when visiting Riviera Maya Mexico? I hope this Riviera Maya Mexico currency guide has helped you to decide which type of currency to bring to Mexico!

The official currency of Riviera Maya is the Mexican peso so you’ll typically save money if you pay in pesos. But US dollars are widely accepted so it’s possible to get by with just using dollars if you need to.

It’s also a good idea to have some cash on hand for taxis, tipping, and smaller purchases.

Just be sure to follow the Riviera Maya money tips listed above to save money when exchanging currency and paying for things in Riviera Maya.

Now that you know how to handle currency when you travel to Riviera Maya, you can enjoy your trip without worrying about money!

• How Much Cash Should You Bring to Mexico? Calculate Now!
• Is Riviera Maya Safe?
• Where to Stay in Riviera Maya
• Best Things to Do in Riviera Maya

Traveling to Mexico soon?

These are the Mexico travel resources I use and recommend:

Hotels : I always find the best deals for Mexico hotels and resorts on Expedia or Booking.com . If you prefer a vacation rental, check VRBO as they are often cheaper than AirBnB’s added fees!

Flights : I recommend using Skyscanner for the best Mexico flight deals. Be sure to sign up for their price alerts for your preferred travel dates.

Rental Cars : I recommend using Discover Cars because you can compare multiple car rental companies and see detailed ratings for overall value, ease of pick-up, efficiency of agents, car condition, and overall time spent.

Cancun Airport Transportation : I recommend booking a private transfer with Cancun Airport Transportation for the quickest and most hassle-free option!

Tours & Activities: I always use Viator or GetYourGuide for booking tours and activities in Mexico. You can cancel up to 24 hours before the tour for a full refund, plus they have excellent customer service if you were to have any issues.

Travel Insurance: After my Dad broke his hand in a taxi accident in Playa del Carmen, I always recommend buying travel insurance before your trip for added peace of mind! I recommend Travel Insurance Master for short trips or Safety Wing for digital nomads.

Biodegradable Sunscreen : Don’t forget to add biodegradable sunscreen to your Mexico packing list ! Regular sunscreen is prohibited when swimming in the ocean and cenotes in Mexico, so you’ll need to pack some biodegradable sunscreen for sun protection. I recommend Sun Bum Sunscreen , which is reef-friendly, vegan, and cruelty-free.

The post Riviera Maya Currency Guide for Travel in 2024 appeared first on Viva La Travelista .

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Your 2024 Credit Card Checklist for Summer Travel

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Checklists are a key step in travel preparation for many people. Passport — check. Phone charger — check. But have you checked to make sure you’re fully utilizing the travel perks offered by your credit card?

Whether you’re a seasoned jetsetter or a novice traveler seeing the world for the first time, benefits from the right credit card can make a trip more convenient and more comfortable. That’s good news for the 50% of Americans who plan to travel more in 2024 than 2023, according to a survey by IPX1031, a Fidelity National Financial Company.

Here’s a credit card checklist to review before you hit the road this summer.

1. Bring a card

First things first — be sure to bring a credit card! Many airlines, and even entire airports, are now cash-free. That means you’ll need a card to pay for that pre-departure drink or in-flight snack. You might even earn bonus rewards.

For example, if restaurants are a bonus category for your card, sit-down establishments within the airport will usually still earn that higher rewards rate. If your card earns a bonus on travel purchases, you'll usually earn that bonus for in-flight purchases.

2. Register for TSA PreCheck, Global Entry or Clear

Airports are more crowded than ever, with air passenger growth up 6% and foreign travel up 24% year over year, according to a study conducted by the U.S. Travel Association and Tourism Economics.

To ease the burden of long lines, check if your card offers a credit that covers the cost of TSA PreCheck , Global Entry or Clear . These programs allow you to speed through the line at security or customs, but since they all require a background check and an in-person interview, you'll need to register well before your trip. Even if you haven’t been verified for this trip, register today to prepare for your next trip.

3. Register for lounge access

Airport lounges offer a reprieve from the hustle and bustle of the airport terminal, with most offering free food and drinks. If your card offers access to Priority Pass lounges, you’ll need to register for that benefit before you hit the road.

Don’t forget your physical membership card, or even easier, download the Priority Pass app and use your phone to access the lounge.

4. Notify your issuer of your travel plans

Few things can create issues like having your card unexpectedly stop working when you’re away from home, especially internationally. With rates of credit card fraud increasing, it’s possible your card could stop working if you’re spending outside of your normal patterns or locations. To preempt this, notify your issuer before you travel. Often you can do this online or through the app, but just in case, be sure to travel with at least two cards .

5. Avoid paying foreign transaction fees

If you’re traveling abroad, make sure you have a card that doesn’t charge foreign transaction fees . If your card does levy those fees, try to get a different card before you leave the country.

6. Pay with your most rewarding card

Be sure to identify opportunities to leverage your trip and earn outsized rewards. For example, if you know you’ll be staying at a Hilton brand hotel, you might consider applying for one of the Hilton credit cards offered by American Express and earn up to 14 Hilton points per dollar you spend at the hotel. Those points can stack up fast and easily defray costs for your future travel.

But you'll need to bring the physical card with you. Many hotels aren't able to accept digital wallet payments, so if you can't swipe your card, you'll miss out on those heightened rewards.

7. Check your card’s money-saving offers

Many issuers have programs, such as AmEx Offers, Chase Offers and BankAmeriDeals from Bank of America, that let you add rotating promotional offers to your card and earn additional points or cash back for making purchases at specific merchants. Be sure to review these offers for any merchants where you might spend during your travels. Just be aware of the fine print — often these offers exclude, or only include, international merchants.

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Where can I go with 50,000 AAdvantage miles?

Other ways to redeem aa miles , rental cars, should i get the aadvantage® aviator® red world elite mastercard*, get your next flight for free with this travel card’s rare welcome bonus.

You'll also pay a $99 annual fee, but it may be worth it if you're an American Airlines loyalist.

Dashia Milden

Dashia is a staff editor for CNET Money who covers all angles of personal finance, including credit cards and banking. From reviews to news coverage, she aims to help readers make more informed decisions about their money. Dashia was previously a staff writer at NextAdvisor, where she covered credit cards, taxes, banking B2B payments. She has also written about safety, home automation, technology and fintech.

Tiffany Connors

Tiffany Wendeln Connors is a senior editor for CNET Money with a focus on credit cards. Previously, she covered personal finance topics as a writer and editor at The Penny Hoarder. She is passionate about helping people make the best money decisions for themselves and their families. She graduated from Bowling Green State University with a bachelor's degree in journalism and has been a writer and editor for publications including the New York Post, Women's Running magazine and Soap Opera Digest. When she isn't working, you can find her enjoying life in St. Petersburg, Florida, with her husband, daughter and a very needy dog.

The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.

I’ve written about dozens of credit cards over the years, but a recent travel card caught my eye. While most credit cards have steep minimum spending requirements to earn welcome bonuses, this airline card’s welcome bonus can help you cover a flight or hotel stay -- without spending thousands of dollars. 

The AAdvantage ® Aviator ® Red World Elite Mastercard ® * is one of our picks for the best American Airlines credit cards . And you can earn a 50,000-mile welcome bonus. All you have to do is make your first purchase (no minimum amount) and pay the $99 annual fee in the first 90 days of card ownership. Those bonus miles could help reduce the price of your travel or lodging for your upcoming summer vacation. 

Here’s more about the card and a few flights I found that could make the welcome bonus worthwhile. 

There are a few ways 50,000 miles can help you cut the costs of summer travel. Here are some examples I found looking at flights from Charlotte, North Carolina. 

Charlotte to Fort Lauderdale

I could earn enough points with the welcome bonus to cover the cost of a round-trip flight from Charlotte to Fort Lauderdale, Florida, from July 15 to 18 for me and a friend (plus applicable taxes and fees). Plus, I’d have 14,000 points left over for another trip. 

Charlotte to Toronto

Let’s be honest. A trip to Toronto on Father’s Day weekend (June 14-16) might offer a welcome respite from the heat. I wouldn’t get both flights for free, but I’d only pay about $735 out of pocket, plus taxes and fees (based on each point being worth 1.7 cents) for a trip for two. If I paid out of pocket, the flights would potentially cost nearly double -- $1,300.

Charlotte to New York

I could even travel during the Fourth of July to New York City, paying about $120 out of pocket (based on each point being worth 1.7 cents) to cover the remainder of the cost that the 50,000 points don’t cover, plus taxes and fees.

Aside from booking flights directly with American Airlines, you can redeem your welcome bonus miles with its OneWorld partners and other partners, including British Airways, Hawaiian Airlines, Iberia and Qantas. But you’ll want to make sure you’re redeeming the miles at an equal or higher rate for the best value. Here are some other ways you can redeem the miles for summer travel. 

Hotel stays

If you book your hotel with AAdvantage Hotels , you’ll get hotel stays at select hotels for fewer miles. For instance, I could use 42,700 miles to cover a three-night stay (June 20-23) at the B Resort, in the Disney Springs Resort, if I’m an AAdvantage credit card member with status. 

That means that even if you have the minimum Gold status with AAdvantage, by earning 40,000 miles, and you have the Aviator ® Red World Elite Mastercard, you can earn the rate. You can reach Gold status with 40,000 miles, so the bonus should more than help you reach that.

If your flight is covered, you’d prefer to drive or you have extra miles, you may be able to cut the costs on your rental car with the bonus, too. You can redeem your miles for vehicles at several rental companies, including Budget and Avis. 

Like American Airlines’ hotel partner, you can redeem fewer miles if you have AAdvantage status and are an AAdvantage cardholder. For instance, you’ll only redeem 21,800 miles for an intermediate vehicle, like a small SUV, for a three-day trip in New Orleans (June 19-22). You’ll use fewer miles for lower-tier cars. 

Beyond the one-time welcome bonus, the card has a few other benefits including: 

• First checked bag free
• Preferred boarding
• Up to $25 in statement credits for in-flight Wi-Fi, food and beverages
• A $99 companion certificate for one guest (plus taxes and fees) if you spend $20,000 on purchases and your account remains open 45 days after your anniversary date 
• Travel coverage 
• No foreign transaction fees

The perks can be rewarding if you’re a frequent American Airlines traveler or live in an American Airlines hub city. But the rewards rate isn’t as lucrative as other cards. You’ll earn 2x AAdvantage miles per dollar spent on eligible American Airlines purchases and 1 mile per dollar on other purchases. You could earn 4x miles on American Airlines purchases and 1 mile for every $1 spent on other purchases with the Citi® / AAdvantage® Executive World Elite Mastercard®*, but that card comes with a $595 annual fee. 

If you aren’t an American Airlines loyalist, you may get more value from one of the more general best travel credit cards , which let you earn rewards at higher rates in some categories and offer more flexible redemption options. 

*All information about the AAdvantage Aviator Red World Elite Mastercard and Citi / AAdvantage Executive World Elite Mastercard has been collected independently by CNET and has not been reviewed by the issuer.

CNET editors independently choose every product and service we cover. Though we can’t review every available financial company or offer, we strive to make comprehensive, rigorous comparisons in order to highlight the best of them. For many of these products and services, we earn a commission. The compensation we receive may impact how products and links appear on our site.

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https://money.com/airline-credit-card-rewards-biden-scrutiny/

How Much Are Airline Rewards Really Worth? Biden Admin Probes Credit Card Programs

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White House officials and regulators are probing what they say are issues with airline credit card programs, including the devaluation of points, high interest rates and the stripping of travel benefits.

Americans tend to have a love-hate relationship with airline credit card programs : Putting day-to-day spending on these cards can feel like an easy way to earn quote-unquote “free” trips — and the perks can make air travel a more luxurious experience — but officials say they’ve heard a laundry list of consumer complaints about how these programs are structured and operated.

Credit card and airline reward programs have ballooned in popularity in the last few years amid the post-pandemic rebound in travel: According to one estimate , roughly 30 million Americans have airline credit cards that generate $23 billion a year. Secretary of Transportation Pete Buttigieg tells Money that for some big airlines, the profitability of these programs now “rivals or exceeds that of actually flying planes.”

Consumers increasingly think of their rewards balances as part of their savings, he says, but what those points are actually worth — both now and in the future — is unclear.

“A lot of us build up our savings in our points accounts just like we do in our cash accounts. But unlike a bank account, your points or miles have a value that could be changed overnight by a company,” Buttigieg says.

Travel experts discourage fliers from stockpiling large amounts of rewards for exactly this reason: You can get burned if your airline of choice quietly decreases redemption values and you suddenly find that you can no longer afford the trip you’ve been planning on taking.

Airline rewards programs under scrutiny

The Department of Transportation (DOT) and the Consumer Financial Protection Bureau (CFPB) have been researching these issues for months, and they shared some of their findings in a hearing Thursday alongside airline executives, consumer advocates and other stakeholders.

Rohit Chopra, director of the CFPB, said that among their concerns are:

• ‘Bait-and-switch’ situations: Airlines sometimes market rewards they later take away from customers after they've already signed up for a credit card . For example, Delta and American Express took heat from cardholders last year when they announced they were reducing access to airport lounges. This can be frustrating for customers because airline cards often have “hefty” annual fees — several charge hundreds of dollars — and it can be difficult to get refunds when benefits are removed, Chopra said. (The Delta SkyMiles Reserve American Express card, for instance, costs $650 a year.)
• Minimal competition: While smaller banks and credit unions often have consumer-friendly credit cards, Chopra said they struggle to compete with bigger players in the travel credit card space that have exclusive deals with airlines. In fact, “the largest credit card companies have made massive payments to airlines in exchange for that airline refusing to sell points and miles to competing credit card companies,” Chopra said.
• High interest rates: Americans have troublingly high (and fast-growing) credit card balances , and officials argue that travel credit cards are exacerbating the issue. Put simply, it may be easier for consumers to rationalize big purchases if they know that splurge is getting them a step closer to a much-desired trip. Rewards credit cards can also have high annual percentage rates, or APRs, Chopra said.

Another part of Thursday's hearing touched on the aggressive marketing of these products. Officials were surprised when Sara Nelson, international president of the Association of Flight Attendants union, mentioned that about half of flight attendants are required to make announcements about credit cards on flights.

“In almost every case, there is an incentive for flight attendants,” Nelson said. “There are some flight attendants who are subsidizing their income between $10,000 and $15,000 a year through these programs.”

While flight attendants have mixed feelings about doing this, she added, they shouldn’t have to engage in credit card marketing to make enough money to pay rent.

Officials call for transparency in airline rewards

Ultimately, the Biden administration wants to see more transparency and fairness around credit card and airline reward programs, Buttigieg tells Money.

“I think a lot of us have had that experience of being on the plane and when they come around with the credit card pitch, they say, ‘This is going to get you X amount of miles, which is enough for two people to go to Hawaii!’ And you think, ‘I'm going to pay for my next vacation with this,’” Buttigieg says. “If they get you to make that decision with that pitch, that pitch better come true.”

Asked what actions or changes are coming next, Buttigieg says that’s still to be determined, but he emphasizes that officials are eager to try to address some of the issues they’ve identified. The agencies intend to closely scrutinize each major airline’s policies as part of the process.

“We don't have a rule cooked up, ready to go, or anything like that, but this information-gathering can lead to action depending on what we find,” he says.

Morgan Harper, director of policy and advocacy at the American Economic Liberties Project, urged the CFPB and the DOT to investigate what she described as deceptive and unfair business practices that hurt consumers and discourage competition.

“Preserving the value of retroactive rewards, standardizing these rewards' value, and requiring transparency about changes to program terms would bring much-needed protections to this market,” she said.

Not everyone agrees with this approach, though.

Iain Murray, vice president for strategy at the Competitive Enterprise Institute, wrote in a blog post Thursday that “millions of Americans use credit card air miles to plan vacations.” He also linked the hearing to the Credit Card Competition Act , which he wrote could “interfere with a well-working market” and hurt rewards programs, setting off a chain reaction that could lead to “fewer flights, fewer jobs, more crowded flights and higher fares.”

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Here’s How Much Debt the Average American Has

Many Americans willing to take on debt for their summer vacations

by CORY SMITH | The National Desk

(TND) — Summer vacation season is here, and a lot of folks are willing to take on debt for their trips.

A new WalletHub survey found that nearly a quarter of Americans would skip a credit card payment before skipping a vacation.

And 40% said it’s worth going into debt for a good vacation.

WalletHub Founder and CEO Odysseas Papadimitriou said he was surprised to see so many people willing to throw their finances to the wind for travel.

“In my opinion, you go into debt for necessities, not for luxuries,” he said Friday.

This year is forecasted to see nearly 2.5 billion trips with over $1.1 trillion spent, according to the U.S. Travel Association.

But Papadimitriou said it’s a “red flag” for a household to pile up debt for a leisure trip.

WalletHub’s survey also found that more than a third of people still have credit card debt from their last vacation, and 65% think about post-vacation credit card bills while they’re still away from home having fun.

Papadimitriou said an island getaway might sound great, but it might not be if you spend your trip worrying about money or if you’re saddled with debt for months after your return.

Papadimitriou views traveling as a luxury, but he also believes Americans need to take time to relax and recharge.

But he said people can still have fun with a cheaper trip or a staycation.

“And with that frame of mind, then I think it will liberate so many people to be able to truly enjoy their time off,” Papadimitriou said.

And filtering vacation planning through a lens of what’s a necessity can be an important part of overall prudent household budgeting, he said.

“It's so important that people make that mental shift on vacations,” he said. “Because then I think it's going to propagate to hundreds of daily decisions that they make that can help them save money.”

Americans' household debt is steadily rising, hitting a new high of $17.69 trillion, the Federal Reserve Bank of New York said this week.

And people are increasingly digging a hole of credit card debt.

Money Management International, one of the country's largest nonprofit credit counseling organizations, said the average unsecured debt of its clients has ballooned more than 30% from before the pandemic.

Inflation has been taking a toll on Americans, with consumer prices up 17% in the last three years.

And that’s being felt by WalletHub’s survey respondents.

Over half plan on spending less money this summer than last summer. And 68% said inflation will be affecting their travel plans.

What counts as travel on the Amex Green card?

Editor's Note

The American Express® Green Card is a decent option for travel purchases.

New cardholders can now get a welcome bonus of 40,000 bonus Membership Rewards points after they spend $3,000 on purchases on your new card in the first six months of card membership.

The Amex Green earns 3 points per dollar on travel, transit and dining at restaurants. For all other purchases, you'll earn one point. Terms apply.

But exactly which purchases count as "travel" and earn 3 points per dollar? Here's what you need to know.

The information for the American Express Green Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Here are the travel purchases that will earn bonus points, according to the Amex Green Card's terms:

• Car rentals
• Campgrounds
• Third-party travel websites (i.e., Orbtiz, Expedia, Priceline)
• Travel booked through amextravel.com
• Vacation rentals (with exceptions—see below)

That's a pretty strong list — but let's see what purchases won't count as travel with your Amex Green card.

What doesn't count as travel on the Amex Green?

Amex's terms clearly specify that timeshare purchases will not count as travel.

Additionally, whether or not something counts as travel depends on how the merchant codes when you make your purchase. According to Amex's terms:

Merchants are assigned codes based on what they primarily sell. A purchase will not qualify for additional points if the merchant's code is not eligible.

This won't be an issue for most purchases, but it could be, depending on where you make the transaction. For instance, if you purchased a tour ticket from a convenience store, it likely wouldn't code as travel and would not earn any bonus points.

Another common area of confusion when it comes to determining travel purchases is home-sharing and vacation rental sites such as Airbnb , Homeaway and VRBO .

These will usually code as travel and earn bonus points, but some TPG staffers and readers have reported inconsistent experiences with these purchases.

Bottom line

The Amex Green Card has impressive bonus-earning on travel, transit and dining purchases . But before you put a big travel purchase on this card, ensure it falls under Amex's travel category and know that vacation rentals are hit-or-miss.

Fortunately, the travel category is broadly defined for the Amex Green card — great news for earning the most points possible.

For more information, read our full review of the Amex Green .