How Does Post Office Travel Money Card Work?

Is the Post Office Travel Money Card contactless?

Make contactless payments from any of your cards (including your Post Office Travel Money Card) using your favourite digital wallet – Apple Pay.

, regardless of which card you’re spending on.

There are no fees for foreign ATM withdrawals of certain amounts..

Are prepaid travel cards a good idea?

A big advantage to using a prepaid card is that it saves you having to carry around significant sums of money while you’re on holiday. In the event your card was stolen, you’d only lose the amount of cash on your card. But prepaid cards are also often cheaper to use overseas than a standard debit or credit card.

How do I use a travel money card?

Once abroad, you can reload your card or change the currencies around via the internet or your mobile phone. You can use your card to withdraw cash from ATMs, shop for souvenirs, pay for restaurant meals or book accommodation online.

What are the benefits of a travel money card?

5 benefits of a travel money cardAbility to lock in your exchange rate before travelling. … Ability to load multiple foreign currencies on one card. … Ability to reload card via your smartphone. … Debit card functionality without linking to your bank account. … Allows you to carry a minimal amount of cash.

Is it best to exchange money at home or abroad?

Your bank or credit union is almost always the best place to exchange currency.Before your trip, exchange money at your bank or credit union.Once you’re abroad, use your financial institution’s ATMs, if possible.After you’re home, see if your bank or credit union will buy back the foreign currency.

Is a post office travel card worth it?

The Post Office travel card is handy to have if you’re travelling and want to keep your money safe. Paying in local currencies is quick and easy, especially with contactless payments gaining ground around the world. Plus, you can only spend what’s on it, so this can help you to budget.

Can we transfer money from travel card to bank account?

Alternatively, you can transfer funds back off your Travel Money Card through the following options: … Account transfer to a CommBank transaction account: you can transfer funds that are loaded on your card to a CommBank transaction account by logging on to the CommBank app or NetBank.

How much does a Post Office travel card cost?

For example, while most travel cards are fee-free in shops and restaurants, some charge you to withdraw money from cash machines. Post Office, one of the most popular providers, charges $2.50 (£1.91) or €2 (£1.79) for each withdrawal from its Travel Money card.

Is it cheaper to use cash or card abroad?

Local cash is normally the easiest way to pay abroad. However, you’ll need to shop around for a good exchange rate. Unless they’re designed for travellers, credit cards and debit cards are usually expensive to use abroad. Avoid withdrawing money with a credit card, as this can attract steep fees and interest.

How do you hide money when traveling?

Other discreet and clever hiding places for valuables and cash in your clothing and on your body include:Money belts that look like real belts. These belts have zippered pockets for cash (although nothing larger).Money socks. … Pocket underwear. … Money bra. … A hair roller.

What is the best money travel card?

Best prepaid travel cardsRevolut – top rates on weekdays.Transferwise – top rates with low fees.

Can you withdraw cash from a travel card?

Load any of the 23 currencies on your Travel Money Card. Then use it at any of the 36 million shops, restaurants and bars around the world that welcome Mastercard. You can also withdraw cash from ATMs and make online transactions (fees apply). … Cash withdrawal fees and limits apply.

How much cash should you carry abroad?

We recommend bringing $100 – $150 worth of foreign currency. See Buying Foreign Currency: Get More Bang for Your Buck for tips.

Is it better to get euros or use debit card?

Although you may still be charged fees, prepaid cards are often cheaper to use than a standard debit or credit card. … Typically, prepaid currency cards can be loaded with sterling, euros or US dollars.

How long does it take to get a travel money card?

Once you’re set up online (after an ID check and payment is processed!) you can manage your card, check your balance and transaction history and continue to load spending money all online too. To be safe, we won’t take online orders if you’re departing within 14 days as the card can take up to 2 weeks for delivery.

Is a travel money card better than cash?

Prepaid currency cards are, their promoters claim, safer than carrying cash, give holidaymakers better exchange rates and are cheaper than using a debit or credit card abroad. But beware the small-print charges that can soon wipe out any savings the cards may offer.

What is the best card to use abroad?

The Barclaycard Rewards card (apply – sadly not in our eligibility calculator) has no fees on spending or cash withdrawals overseas. Unusually, it also doesn’t charge interest on spending OR overseas cash withdrawals as long as you repay IN FULL. Plus, it pays 0.25% cashback on spending worldwide – a small extra boost.

How do I avoid foreign transaction fees?

Barring that, there are several steps you can take to avoid these costs.Watch Out for Conversion and Transaction Fees. … Open a Credit Card That Doesn’t Have a Foreign Transaction Fee. … Exchange Currency Before You Travel. … Open a Bank Account That Doesn’t Charge Foreign Fees. … Pay With the Local Currency.More items…•

Is it worth getting a travel money card?

Travel money cards are best for longer trips, and usually not worth your while if you’re only taking a short trip (use your normal debit card instead). We looked at the travel money cards on offer from the big banks and airlines to find which were best.

How do I add money to my travel money card?

There are 3 ways to load currency on to your Travel Money Card:NetBank & the CommBank app: Transfer money from your eligible CommBank account to your card in NetBank or the CommBank app.Using BPAY: Enter the Biller Code 113167 then your customer reference number (your 16-digit Travel Money Card number).More items…