commonwealth travel card exchange rate

Commonwealth Bank Travel Money Card

AUD, USD, NZD, EUR, GBP, SGD, HKD, JPY, CAD, THB, AED, VND, CNY, RMB

Mozo editorial review Commonwealth Bank Travel Money Card - last updated: 20 May 2022

• Load up to 13 currencies on the one card
• No monthly inactivity fee
• 5.35% cross currency conversion

Mozo snapshot

The Commonwealth Bank Travel Money Card is a handy prepaid travel card if you are visiting multiple countries on your holiday as it allows you to load up to as many as 13 currencies. You can also transfer funds between the currencies for free while travelling and monitor your balance online or over the phone 24/7.

Key features

The Commonwealth Bank Travel Money Card is accepted wherever Visa is and can be used internationally at shops, restaurants, at overseas ATMs and for online purchases.

The card has no purchase fee, whether you order it online or in a branch and it is one of the few prepaid travel cards on the market that does not have an inactivity fee so you can keep the card until your next trip if you have money left on the card (but make sure you check the cards expiry date as they do expire at some point.)

You can store up to 13 currencies at any one time, the most of any prepaid card on the market. This is one of the only prepaid travel cards to preload Vietnamese Dong, Chinese Reminbi and it is one of the few to also have Thai Baht as an option. The smart card feature means that it will always use the currency of the country in which the transaction is made first, as long as that currency is loaded on the card.

The Travel Money Card does have a 3.00% cross currency conversion charge if you make a purchase in a currency other than the one on your card so make sure you have the right currency loaded before you spend.  

There's also a flat AUD $3.50 cash withdrawal fee for ATM withdrawals and over the counter withdrawals made outside of Australia. The fee is charged in the currency you're making the withdrawal with though, so if that's not AUD, the Visa exchange rate (at that time) will be used to calculate whatever that foreign currency equivalent of $3.50 AUD is. 

Who is it good for

Prepaid travel cards are great for the budget conscious traveller as they allow you to set a travel budget and stick to it without the temptation of going into debt over that 'must do' romantic sunset cruise with 50 other tourists.

You don't have to be a Commonwealth Bank account holder to get a Travel Money Card, which makes this a good prepaid card choice for anyone who is visiting more than one country on their trip.

If you want to use your travel card solely for online international shopping you can load the travel card up in several currencies and then go on a global shopping spree knowing exactly what exchange rate to use when comparing costs.

Any catches

Make sure you've loaded the correct currencies onto your card before you start spending, because if you spend in a currency you don't have loaded, you'll be stung by the 3.00% cross currency conversion fee.

Atm withdrawal fee

Minimum load, upper limit, monthly inactivity fee, customer reviews.

This product does not currently have any community reviews. Be the first to write one.

About Mozo’s Editorial Star Ratings

Mozo’s Editorial Star Ratings are a score out of 5 stars arrived at by the author of the review after careful consideration of a product’s rates, fees and features when compared with other products that offer similar features.

As a guide, this is how the Editorial Star Ratings should be interpreted:

• 5 stars - a best in class blend of great value and features
• 4 stars - excellent value and features overall
• 3 stars - good value and features overall
• 2 stars - below average, but may be worth considering for some people
• 1 star - well below average

Ratings are just one factor you may want to consider when choosing a financial product. Our ratings have been determined without considering your personal objectives, and a product with a high rating may not be the best one for you.

Important information on terms, conditions and sub-limits

Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.

Who we are and how we get paid

Our goal at Mozo is to help you make smart financial decisions and our award-winning comparison tools and services are provided free of charge. As a marketplace business, we do earn money from advertising and this page features products with Go To Site links and/or other paid links where the provider pays us a fee if you go to their site from ours, or you take out a product with them. You do not pay any extra for using our service.

We are proud of the tools and information we provide and unlike some other comparison sites, we also include the option to search all the products in our database, regardless of whether we have a commercial relationship with the providers of those products or not.

'Sponsored', 'Hot deal' and 'Featured Product' labels denote products where the provider has paid to advertise more prominently.

'Mozo sort order' refers to the initial sort order and is not intended in any way to imply that particular products are better than others. You can easily change the sort order of the products displayed on the page.

• Join CHOICE

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.

•   Argentina
•   Australia
•   Brasil
•   Česko
•   Canada
•   Deutschland
•   España
•   France
•   India
•   Italia
•   Magyarország
•   Malaysia
•   Nederland
•   New Zealand
•   Österreich
•   Polska
•   Portugal
•   România
•   Schweiz
•   Singapore
•   United Kingdom
•   United States
•   繁體中文 (香港)
•   简体中文 (中国)

4 Best Travel Cards in Australia

These days, we have heaps of choices when it comes how we spend our money overseas, quickly find the best travel card in Australia.

Who has time to look through a comparison table for the best travel card in Australia? Prepaid travel cards have different features and fees, but the most important thing when choosing a card is considering how it will be used. To save you time we have compared a dozen of the most widely used travel cards and offer the following 4 travel cards:

• Wise Travel Debit Card - Best multi-currency travel debit card
• Travelex Money Card - Best overseas travel card for frequent travellers
• ANZ Travel Card - Best travel card for single trips
• Citibank Plus Everyday Accoun t - Best multi currency travel card for long trips over a month

Best multi-currency travel card

If you travel frequently, a debit card where you can hold and convert multiple currencies is what you might need.

Wise Travel Debit Card is our top choice for this - it's easy to use and you won't be charged any mark-up for converting money within your account.

Wise uses the mid-market exchange rate to convert money, no mark-up. It only adds a small fee for each transaction. You can free ATM withdrawals from more than 2 million ATMs worldwide (up to 200 GBP per month). You can use it instantly with Google Pay or Apple Pay. The Wise travel card gives you the best rate for spending in 54 different currencies .

Our verdict: Wise Travel Debit Card

Best overseas travel card for frequent travellers

If you head overseas frequently, make sure the card you use has the best exchange rates. This will make a big difference to the cost of buying currency. It's also important to avoid a card that has a reload fee.

The other fee to look out for is the cross currency conversion fee. This is particularly relevant for frequent travellers.

Cross currency conversion example: Chris loads up $5,000 US dollars but when he stops off in Thailand, the transaction goes through in Thai Baht. He can still use the US dollars on his travel card but may incur an additional fee to convert it to Thai Baht.

Our verdict: Travelex Money Card

Why? The Travelex card had the best exchange rates of the cards we compared. It also has no reload fees or cross currency conversion fees. The downside of this card is that it comes with a closure fee and an inactivity fee but both are easily avoided if you are travelling often.

Honourable mention: Commonwealth Bank Travel Money Card & Qantas Frequent Flyer Qantas Card with Qantas Cash.

Best travel card for single trips

If you plan on buying a travel card for a specific holiday, make sure you find out the set up and closure fees. The Australia Post Load and Go and Virgin Global Wallet both have $0 set up fees. But, the Global Wallet is only available to Virgin Frequent Flyer members. Recently ANZ and NAB offered to waive the set up fee, so keep up to date with any special promotions. Some travel cards also charge you a percentage of your initial load.

Most cards have a closure fee between $10 - $15. Cards without a closure fee usually have an inactivity fee which will slowly eat away at any balance left on it.

Our verdict: ANZ Travel Card

Honourable mention: Australia Post Load and Go and the Virgin Global Wallet.

Best multi currency travel card for long trips over a month

Moving overseas is a massive effort and with hundreds of things to plan and do. It's easy to overlook which card you use but it could end up costing you more than you realise.

Likewise, if you are travelling overseas for more than a month, choosing the best card can save you a small fortune.

For bigger trips or moves abroad, you want a card that offers you the interbank or wholesale exchange rate that you can see on Google, Yahoo or xe.com.

Our verdict: Citibank Plus Everyday Account

Honourable mention: 28 Degrees Platinum Credit Card

View the full list of Travel Card Reviews here.

How to compare travel cards

Having a debit card to use when you travel can be a good way to manage and keep track of your foreign currency spending - and it can make day to day life easier when you're abroad, too. Before you choose a travel debit card make sure you compare a few cards, looking at features and fees, so you'll know you're picking the right one for you. Take a look at how easy it is to get hold of a card, the available currencies, fees you're likely to run into, and the exchange rates applied. Here's a rundown of the key details for our top travel debit card picks:

Features of a travel debit card

Travel debit cards are convenient for anyone who transacts often in a foreign currency . Top up your account in dollars, and convert to the currencies you need - cards often let you hold, exchange and spend multiple currencies all in the same account. Pick the right card for you and you could save money too - here are the key features of travel debit cards:

• Save money in advance for planned travel
• Some travel debit cards let hold and convert different currencies within your account
• Spend in person, online and - in some cases - with just your smartphone
• No risk of accumulating debt or running up credit charges
• Secure - get instant transaction notifications and manage your card online
• No need to carry large amounts of cash - just withdraw at an ATM when you want to
• Check your balance instantly online or through a smartphone app

How do I use a travel card?

While different travel debit cards have slightly different features, they generally work in much the same way once you're up and running. Here's how to use your travel debit card when you travel:

• Sign up for an account with your chosen provider - this can often be done online or through an app
• Link your bank account to your travel debit card account
• Top up your travel debit card in dollars from your linked bank account
• Convert your funds to the currency - or currencies - you need
• Tap and swipe like a local when you pay at vendors

Make sure you compare currency cards

No matter what your situation, make sure you compare travel cards before making a decision.

The easiest way to do it is to check out a few travel money card reviews or use a travel card comparison table .

Is it worth getting a travel money card?

Travel money cards can be a secure and convenient way to pay for things when you travel. Finding a card which suits your needs can be well worthwhile, as you'll be able to pay and withdraw funds in a range of currencies - and often cut your costs, too.

What is a multi-currency travel card?

With a multi-currency travel card you'll be able to add money in dollars, and then convert within your account to the currency you need. This is easy to do, makes planning and budgeting simple, and can often mean you get a better exchange rate compared to converting cash. Simply use your card to spend and withdraw in a range of currencies when you travel, just as you would at home.

What if my travel debit card is lost or stolen?

If your travel debit card is lost or stolen you'll need to report it as soon as possible to the card provider. Travel debit card companies often have smartphone apps which let you cancel or freeze your card instantly from your phone - if this is available you'll want to block your card to prevent it being used fraudulently, and get in touch with the issuer to get advice on how to proceed.

How to claim the money left on your travel card

Home from your holiday with cash left on your travel money card here's how to get it back..

In this guide

How to get the remaining funds off your travel money card

A comparison of prepaid travel money cards, some mistakes to avoid with leftover funds in your travel card.

Travel Money Cards

If you've still got foreign currency on your travel money card after a trip or your card's about to expire, it's still possible to get your money back. Use this guide to learn how to get funds back and what mistakes to avoid so you can get as much value as possible from your prepaid travel card.

Finder survey: What do Australians do with leftover funds on their travel card?

More than half of the Australians we surveyed simply transferred leftover money from their travel money card to their bank account.

The way you get your unused money varies depending on the travel money card. In some cases, it can be as easy as Internet banking, while in others it might require a trip down to the bank. Here's how it works with the major Australian prepaid travel cards.

Cash Passport Platinum Mastercard

If you have a Cash Passport Platinum Mastercard, you can get your funds off it by logging in to your account at auspost.com.au/cashpassport or by visiting a participating Australia Post outlet and presenting the card along with a valid form of photo ID. You can get funds even if the card has expired (check the expiry date on the front).

Just take note that the Cash Passport charges a monthly inactivity fee of $0 if you haven't used your card in 12 months. So if you want to cancel your card instead of keeping it for another trip, you can move the remaining balance to your bank account for a fee of $10 by calling Customer Service at +44 20 7166 7822.

The Travelex Travel Money Card

The card attracts a monthly inactivity fee of after 12 months of no usage, which can whittle away at your balance. It also charges a 2.95% withdrawal fee on domestic withdrawals within Australia. You can close your card at any distribution outlet and move remaining funds to your nominated bank account for an extra fee of .

If your card has expired, you can still get your funds through one of these options. Or, if you want to continue to use the account, you can request a new and have the money transferred over to it.

CommBank Travel Money Card

Valid for up to 3 years with no monthly inactivity fee, you can use the CommBank Travel Money Card on your next holiday or close it off and empty the remaining funds into your account at no charge. If you have an everyday CommBank account, you can transfer the money in real-time through NetBank. You can do this up to three months after the card has expired.

If you don't bank with CommBank, you can get your money off the travel card by visiting a branch. You can also withdraw the funds from any CommBank ATM free-of-charge after converting the foreign currency to Australian dollars.

With the , you can withdraw your remaining funds from a local ATM or close your account and have the funds transferred into your nominated account. Do note that withdrawals within Australia incur a 2.95% fee. A fee is also charged for account closures and cashing out any remaining value. You can do this by logging into the Suncorp Bank Multi-Cash Currency portal.

Qantas Travel Money

The Qantas Travel Money card doesn't incur an inactivity fee or ATM withdrawal fees, but a foreign exchange rate will apply when withdrawal is made in Australia on funds that are not in Australian dollars. You can close your card at any time at no cost by calling Mastercard Qantas Cash Global Support on 1300 825 302.

Australia Post

If you have funds remaining on your , you can either exchange the money back into your Australian dollars currency wallet and withdraw the funds from an ATM or fill out the Load&Go balance redemption form to have the funds sent to you via an Australia Post Money Order. It doesn't cost anything to close the account, but you will be charged $1 every month a balance remains in your account following expiry.

If you have money left over on your travel card, be sure to take note of and avoid the following possible pitfalls:

• Leaving your card open. If you're not travelling anytime soon, you might want to close the card once you've withdrawn your funds. Otherwise, you may still have to pay any inactivity fees or annual maintenance fees attached to the card.
• Expired cards. Most providers send a goodwill email to remind you of an impending expiry date. You can then request for closure, but failure to do so will unfortunately result in "Unclaimed Monies".
• Unclaimed monies. While banks previously forfeited your money once your card expired, unclaimed monies legislation now dictates that balances above $500 (which are left untouched after three years or unclaimed after card expiry) must be transferred to the Commonwealth Bank and held in trust. You can run a free search of all unclaimed monies through the MoneySmart website. Amounts below $500 are essentially forfeited if you don't close your account and claim them.
• Spending foreign currencies in Australia. Some banks charge domestic ATM withdrawal fees on your travel card, so be very careful reading the fine print. Since all fees are debited in Australian dollars, if you only have foreign currency on your card, that will incur more foreign currency conversion fees.

It is important to know the rules and conditions around your travel card. Depending on the fees and exclusions set by your provider, it may be wiser to withdraw remaining funds and close the account instead of keeping it for your next vacation. It is also worthwhile to factor in things like the card's loading and reloading fees as well as foreign currency trends when comparing your options.

Sally McMullen

Sally McMullen was a creative content producer at Finder. Sally wrote about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

More guides on Finder

The Wise Travel Money Card supports over 40 currencies, with free loading by bank transfer and an instant, virtual card. Here’s how its other features compare.

Revolut offers virtual and physical Visa cards, support for over 30 currencies and other travel perks – plus 3-month Premium trial with this offer.

Use finder's interactive world map to learn about variations in beer prices globally. Find out where in the world you'd pay a whopping $15.10 for a pint.

Discover the travel money options available for young people and how to prepare for a trip overseas.

The Travelex Money Card lets you load and spend in 10 currencies, with fee-free ATM options and overseas Wi-Fi. Check out its other features here.

Want to avoid fees and charges when using your card overseas? This guide explains the most common pitfalls when using travel cards.

Use this guide to understand foreign currency exchange and discover how to get the best deal.

Spend in up to 13 major currencies, lock in exchange rates and manage your account with the CommBank app when you use the Commonwealth Bank Travel Money Card.

With Qantas Travel Money cards (previously Qantas Cash), you can carry multiple currencies using a single card and earn rewards points.

Ask a Question

Click here to cancel reply.

You are about to post a question on finder.com.au:

• Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
• finder.com.au is a financial comparison and information service, not a bank or product provider
• We cannot provide you with personal advice or recommendations
• Your answer might already be waiting – check previous questions below to see if yours has already been asked

2 Responses

what about Post Office purchased travel Vis card?

Hi Heather,

Thanks for your question!

I’ve added some information regarding the Australia Post Load&Go card to this page.

If you have money left on your Australia Post Load&Go card when you return from your holiday, you can either exchange the money back into your Australian dollars currency wallet and withdraw the funds from an ATM or fill out the Load&Go balance redemption form to have the funds sent to you via an Australia Post Money Order.

Please note that while you won’t be charged for closing the account, you will be charged $1 every month a balance remains in your account following expiry.

I hope this has helped.

How likely would you be to recommend finder to a friend or colleague?

Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.

Important information about this website

Advertiser disclosure.

finder.com.au is one of Australia's leading comparison websites. We are committed to our readers and stands by our editorial principles

We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.

Some product issuers may provide products or offer services through multiple brands, associated companies or different labeling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.

How we make money

We make money by featuring products on our site. Compensation received from the providers featured on our site can influence which products we write about as well as where and how products appear on our page, but the order or placement of these products does not influence our assessment or opinions of them, nor is it an endorsement or recommendation for them.

Products marked as 'Top Pick', 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.

Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money .

Sorting and Ranking Products

When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.

Terms of Service and Privacy Policy

Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.

We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.

Learn how we maintain accuracy on our site.

• Investing & super
• Institutional
• CommBank Yello
• NetBank log on
• CommBiz log on
• CommSec log on

Help & support

Popular searches

Travel insurance

Foreign exchange calculator

Discharge/ Refinance authority form

Activate a CommBank card

Cardless cash

Interest rates & fees

Travel Money Card: How to manage multiple currencies

If your holiday is looking more like a round the world tour, then you’re going to want to look at loading multiple currencies on to your Travel Money Card.

A Travel Money Card lets you lock in exchange rates for multiple currencies onto one card, so you can easily manage and access your money while you’re overseas.

Related articles

How does a Travel Money Card work?

If you’re in a country that uses a currency you’ve already loaded on your card, that currency will automatically be used for any purchases or withdrawals you make with your card.

If you’re in Europe, for example, and you have Euros, United States Dollars and New Zealand Dollars loaded on your Travel Money Card, your Euros will automatically be used as the local currency, provided you have enough in that currency for your transaction.

If you don’t have enough, the next currency in your currency order with a sufficient balance will be used. For example:

You have 20 Euros (EUR) and 100 New Zealand Dollars (NZD) left on your Travel Money Card and are paying for a meal costing 30 EUR. Since you have insufficient EUR for the full transaction, but sufficient funds in NZD, your Travel Money Card will automatically convert NZD into the equivalent of 30 EUR to pay for your meal (leaving the original 20 Euros on your card), instead of declining the transaction.

With our Travel Money Card , you can easily load up to 13 currencies online:

• 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)

If we need to automatically transfer money between the currencies on your card to complete a transaction, we'll use the Visa exchange rate at the time of conversion, plus a margin. The margin is subject to change from time to time. For the current margin, see  Travel Money Card fees and charges . 

To avoid additional fees, always make sure your card is topped up with the local currency by reloading in  NetBank  or the CommBank app. 

Set the currency order on your card

If you have multiple currencies loaded on your card, even though the local currency for where the transaction takes place will automatically be used (assuming you have the currency loaded on your card and sufficient local funds), you may want to set your own order for the currencies loaded on your card. This is especially important if you reload your card via BPAY ® , because the funds will automatically go to the first currency in order.

This is the default currency order which you can change:

To find out more about setting the order of currencies on your card, or to change your current order,  log on to NetBank  or call (+61) 1300 660 700.

What to do in an emergency

• Lock, Block, Limit  your CommBank credit card or lock your Travel Money Card for added security
• Cancel and order replacement CommBank cards in NetBank or the CommBank app
• Call us 24/7 on +61 2 9999 3283 to report lost or stolen CommBank cards

For 24-hour travel insurance emergency assistance, call Cover-More in Australia direct and toll free on +61 2 8907 5641. You can also call from:

• Canada on 1844 345 1662
• New Zealand on 0800 632 031
• UK on 0808 234 3737
• USA on 1844 345 1662

Charges apply if calling from a pay phone or a mobile phone.

Take your next step

Order a Travel Money Card online

Things you should know

This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Insurance issued and managed by Cover-More Insurance Services Pty Ltd (AFSL 241713, ABN 95 003 114 145) on behalf of the insurer Zurich Australian Insurance Limited (AFSL 232507, ABN 13 000 296 640) for Commonwealth Bank of Australia (‘CBA’) (ABN 48 123 123 124, AFSL 234945). CBA and its related bodies corporate do not issue or guarantee this insurance. It does not represent a deposit with or liability of either CBA or any of its related bodies corporate. Terms, conditions, exclusions, (including for pre-existing medical conditions and persons aged 80 years or over for international travel insurance included with an eligible CommBank credit card or persons aged 74 years or over for CBA Travel Insurance) limits and excesses apply. Before making a decision, refer to the relevant Product Disclosure Statement for full conditions at commbank.com.au. You need to activate your international travel insurance included with eligible CommBank credit cards before each trip in order to have comprehensive level of cover. If you don’t activate, you’ll receive personal liability cover and overseas emergency medical assistance and overseas emergency medical and hospital expenses cover only. We (CBA) do not provide any advice on this insurance based on any consideration of your objectives, financial situation or needs. If you purchase or upgrade a policy, we (CBA) receive a commission which is a percentage of your premium.

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