Annabel Candy has traveled in over 40 countries, lived in eight of them and holds both British and Kiwi passports. Now settled in Australia, she shares her travel stories and tips online to encourage readers to make the most out of their travel experiences.
Travel money cards are a popular, secure and easy way to take money on overseas holidays. Travel money cards simplify the currency exchange process and assist you to manage your travel money easily.
Whether you’re travelling to one destination and just need a single currency, or are visiting several countries, travel money cards can provide the major currencies you need in one place. If you’ve never tried using a pre-paid travel money card, here are their main benefits.
Travel money cards are highly convenient because you can load your card up with anywhere from $250 to up to $75,000 per year* and reload your card on the go as needed online 24x7, anywhere that you have an internet connection. Travel money cards like Multi-currency Cash Passport™, powered by Mastercard®, are accepted at millions of ATMs worldwide and at any accommodation, restaurant, shop or tour business wherever Mastercard is accepted. You have the convenience of paying for goods and services directly using your travel money card, or to withdraw cash as needed.
To use a prepaid travel money card, either at an ATM or to pay a business, you select ‘credit’ and enter your PIN number.
Travel money cards can also allow you to manage your money, wherever you are. A travel money card isn’t just about the money anymore – it’s about carrying your money securely and safely and not having to worry about hefty bank fees while travelling overseas.
*Individual re-load transaction limits may apply. Speak to a consultant for details.
Because your travel money card is not connected to your transaction account, potential losses are restricted if your card gets stolen. It’s easy to suspend or cancel a lost or stolen card, and your provider may be able to give you access to emergency funds anywhere in the world – making travel money cards a secure and convenient way to take money overseas. If you need to contact Cash Passport™ to suspend or cancel a card, please do so here.
Pre-paid travel money cards can be loaded with more than one foreign currency, so you can use this whether you are travelling to one country, or seeing the world. They can also be used for most standard transactions, either shopping online or in person - minimising the risk of carrying cash or using travellers cheques, which are now out-dated and not as widely accepted.
Travel money cards also allow you the flexibility to monitor your spend and see how much money you have left through your online login. For example, if you need to top-up your travel money card, you can easily do that through ’my login’ for Multi-currency Cash Passport™.
4. Locked in rate
With a regular debit or credit card, the currency rate can vary hugely during your trip and conversion fees may apply, which means you may get less currency for your New Zealand dollar and your overseas trip could end up costing you more. But a travel money card allows you to load and lock your foreign currency at today’s exchange rate* and actively manage your balance so you’ll know exactly how much you have to spend.
In other words, even if the New Zealand dollar drops in value, that won’t affect the amount already loaded on your card in another currency. You can pre-purchase multiple currencies, if you’re visiting several different destinations.
The Multi-currency Cash Passport™ card allows you to load up to 9 currencies, and set the default currency for your location. If there isn’t enough money loaded for the local currency, it will automatically make up the balance from other currencies loaded on your card using the latest exchange rate at the time of the transaction and subject to applicable fees.
Find out more about the Multi-currency Cash Passport™ and it’s amazing benefits such as locking your exchange rates* for multiple currencies on one card.
*Lock in your exchange rates mean the exchange rate is locked in for the initial load only. The exchange rates for subsequent reloads will be set at the prevailing exchange rate at the time of the transaction.
Disclaimer: The Multi-currency Cash Passport™ (“Cash Passport”) is an unsecured debt security issued by Travelex Card Services Limited, a member of the Travelex group. Cash Passport is not guaranteed by any member of the Travelex group or any other entity. Before you make a decision to acquire a Cash Passport, we recommend you to read the Product Disclosure Statement which is available free of charge at www.cashpassport.co.nz. MasterCard® and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.
This blog is provided for information only and does not take into consideration your objectives, financial situation or needs. You should consider whether the information and suggestions contained in any blog entry are appropriate for you, having regard to your own objectives, financial situation and needs. While we take reasonable care in providing the blog, we give no warranties or representations that it is complete or accurate, or is appropriate for you. We are not liable for any loss caused, whether due to negligence or otherwise, arising from use of, or reliance on, the information and/or suggestions contained in this blog.