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3 Things to Avoid When Changing Money Overseas

7th February 2017

Even for experienced travellers, working out the best way to exchange money is no mean feat. So, our FXperts have put together the top 3 things to avoid while changing your money overseas.

1. Excessive Currency Fees


Some currency exchange bureaus and facilities that offer currency exchange services (like hotels and resorts) charge hefty fees. As a general rule, you can normally predict how high fees are going to be by the convenience of doing it. So places like airports or accommodation (where it’s incredibly convenient) are likely to charge you the highest fees.

The best way to minimise fees is to use a prepaid travel money card for any transactions or ATM withdrawals. With a Travel Money Nz Cash Passport, you’ll be kept informed of any fees for using ATMs overseas (unless you’re somewhere really strange). Or, you can avoid ATM fees altogether by simply using your card to buy stuff directly. If a retailer accepts MasterCard, they’ll accept your Cash Passport.

2. Fluctuating Currency Values

Even the shortest holidays can be impacted by changes to the exchange rate. If you don’t buy your currency before you go, you’re going to be charged whatever the rate is that particular day. And that can often mean paying more than you needed to.

Now, pre-paid travel money cards allow you to lock in your rate* for your overseas trip. This means you can keep an eye on the exchange rates, and pick the best time to load your card before leaving.

You can even set currency alerts, so you know you’re buying at the right time!

3. Risky Situations


Financially risky, that is. We have no advice on stunt driving.

You can get all your foreign currency prepared before you travel, but if you’re the victim of a scam, you’ll still end up as drained of your foreign currency as anyone else.

You can avoid risky situations by:

  • Using secure ATMs
  • Covering your PIN, no matter where you enter it
  • Paying with your Cash Passport (anywhere MasterCard is accepted)
  • Knowing how to carry your money safely.

The benefit of using a pre-paid travel money card, like the Travel Money Nz Cash Passport, is that it’s protected by both Chip and PIN. And if it’s ever stolen, you can suspend it at any time. And if you’re a little slow suspending it, you could be protected by MasterCard Zero Liability – so you might not be caught out of pocket.
Make the most of your holiday spending money and avoid placing yourself or your money at risk by ordering a pre-paid travel money card before you leave.



*Locking 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.

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.