Travel Card

Find the cheapest and easiest way to travel and access your money overseas

Travel Card

What is a travel card?

A travel card, also known as a Travel Money Card or Travel Credit Card in some cases, is a card preloaded with foreign currencies that you will use in your international travels. It is similar to a sim card used in mobile devices. It functions like a normal bank debit or credit card and is used to make purchases at Point-Of-Sale (POS) terminals, draw foreign currency from an ATM, or even online transactions on supported payment gateways.

The advantages of the travel card

  • Load foreign currencies when you want with exchange rates that are favourable.
  • When you pay, you pay in the supported currency where you are travelling and thus save on fees.
  • It is safer to carry one card than to carry multiple currencies.
  • Pay at places where locals would have used their local bank cards.

What are the fees to look out for when using a travel card?

  • Initiation (setup) fee
  • Conversion fees
  • Reloading fees
  • Withdrawal fees at ATM’s (these can differ according to the currency)
  • Transaction fees
  • Decline/cross-currency fees when trying to make a purchase with insufficient funds

What can you use a travel card for?

Although it can look an all-in-one card, these cards are specifically used for travelling purposes. Using a travel card for normal day-to-day purposes in your hometown area will result in unnecessary high fees. You can preload one or a few selected currencies that are best suited to the area you will be travelling to. When you are abroad and run out, the travel card be reloaded over the internet with the service provider you have selected or in some cases through your mobile device. The following transactions are done with travel cards:

  • Withdraw cash from an ATM
  • Shop at retail/wholesale stores and pay at the usual POS system,
  • Purchase goods online or do other online transactions

How do you choose your travel card?

There are many options for travel cards in most countries, but following these basic criteria will help you to choose the best option for you.

  • First of all, it is important to determine whether a option at a local financial institution, or an international option is the best for you.
  • Compare the differences in fees for the following steps;
    • Initiation (setup) fee
    • Conversion fees
    • Reloading fees
    • Withdrawal fees at ATM’s (these can differ according to the currency)
    • Transaction fees
    • Decline/cross-currency fees when trying to make a purchase with insufficient funds
  • Look at historical data to determine which service provider will offer you the most favourable exchange rates
  • Multiple currencies on one card
  • Can you convert the fees back to your own local currency and withdraw it to your bank account?
  • Make sure of the security features that is built into the service
  • Will you have a backup card available?
  • Lastly, compare unique benefits and perks for e.g. rewards systems that best suit your spending profile