Travel

Pre-paid travel cards suit holidays

©istockphoto/Deejpilot

USING a pre-paid travel card when overseas can be cheaper and more convenient than relying on a credit or debit card.

More Australians are travelling overseas than ever before, with figures from the Australian Bureau of Statistics showing overseas travel increased by more than 10% in the last 12 months. And according to ING Direct, two thirds of Australian travellers still rely on a credit card overseas.

But while credit and debit cards are a convenient way to access money, transaction fees and exchange rates can add hundreds of dollars to your holiday spending if you are not careful. That's where pre-paid travel cards come in.

Designed to cut out costly admin for your bank, which in turn saves you fees, pre-loaded travel cards let you lock in an exchange rate before you go and pre-load multiple currencies.

Your Money Magazine compared the four brands currently available in Australia to find the best value for travellers.

Managing editor Jackie Pearson said pre-paid travel cards are both safer and cheaper than conventional credit and debit cards.

"You save cash every time you use your pre-paid card because you don't pay bank fees on every transaction," Ms Pearson said.

"And even if the worst happens and your card is lost or stolen, your loss is limited to the money on the card, not your maximum credit limit."

However, Ms Pearson cautions travellers to watch out for fees when purchasing pre-paid travel cards.

"There can be fees involved in purchasing the card initially or to close it down the track, so it's important to do your research," she said.

"We found the travel cards currently on the market are all very different so make sure you compare them carefully to decide which one offers the best value for your overseas spending plans," Pearson said.

Detailed information about the features, fees and limits of each pre-paid travel card is available in the current issue of Your Money Magazine and online at www.yourmoneymag.com.au.

Topics:  charges credit cards fees holiday spending



Anzac Day: Hundreds turn out for Tweed Dawn Service

A soldier stands guard over the Cenotaph as daylight begins to break over Jack Evans Boat Harbour at Tweed Heads' Anzac Day dawn service.

"Lest we forget the memory of those who we all remember today”

Outbreak of whooping cough at Northern Rivers school

Five cases of whooping cough confirmed

Our magnificent four on tour in Afghanistan

MURWILLUMBAH'S OWN: Sergeant Ben Stuart, Warrant Officer Class Two Clinton Doedee, Corporal Tayla Kelly and Warrant Officer Class One Jason Hartley are seen at Australia's main operating base in the Middle East region.

Soldiers discover Murwillumbah roots

Local Partners

Billionaire Elon Musk and Amber Heard hit Shingle Inn

Actor Amber Heard and billionaire boyfriend Elon Musk have begun enjoying Queensland.

New Netflix doco on JonBenet Ramsay's death makes huge claim

A new documentary will air claims that child beauty queen JonBenet Ramsay was murdered by a paedo sex ring.

New claims that JonBenet Ramsay was killed by a paedophile sex ring

Movie review: Guardians Of the Galaxy Vol. 2 delivers on all fronts

Star-Lord/Peter Quill (Chris Pratt) and Drax (Dave Bautista) in Guardians Of The Galaxy Vol. 2.

Does Guardians Vol. 2 live up to high expectations set by original?

Sir Elton John hospitalised with rare infection

CROCODILE ROCKER: Sir Elton John will head to Mackay in September for the first stop of his Australian tour.

Elton John cancels shows after becoming violently ill.

Sunshine Coast singers out to turn chairs on The Voice

NEXT BIG THING? Tune in to see Glasshouse Mountains folk artist Benjamin James Caldwell on The Voice.

Do our Coast folk singers have what it takes to turn judges' chairs?

Former Glee star Lea Michele posts nude selfie to Instagram

Former Glee star Lea Michele has posted a very revealing snapshot

Gold Logie winner defends Molly Meldrum's Logies hijack

Samuel Johnson has defended Molly Meldrum after Logies speech

Lisa Curry and fiance sell up Sunshine Coast property

I'm a Celebrity, Get me Out of Here! contestant Lisa Curry with partner Mark Tabone after being evicted from the South African jungle. Picture: Dylan Robinson ***EMBARGOED 7:30pm March 9th***

Plans for dream home on hold at Mount Mellum place on market

SOLD: Iconic M'boro pub set to be transformed

Shane Muller from Maryborough Motorcycles will be opening up a showroom and café at the Shamrock Hotel.

The Shamrock Hotel is set to be transformed in the next two months.

Council urged to consult more on Kingscliff plan

Cr Ron Cooper is determined to have a three-storey height limit in Kingscliff.

Council nails down the draft Kingscliff plan.

Coast developer looks to prime real estate's future

MANY OPTIONS: Sunshine Coast developer Graeme Juniper is considering what to do with a prime piece of real estate he owns on Radical Bay on Magnetic Island, near Townsville.

Radical Bay is World Environment Heritage-listed.

This small box of a unit just sold for $1 million

Elizabeth Bay unit has charming views to Sydney Heads.

If this doesn't scream 'housing bubble', nothing does.

Ready to SELL your property?

Post Your Ad Here!