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How does foreign currency conversion work for Travel Money Card?

See all Travel Money Card FAQs

Last updated 30 September 2016


A Travel Money Card can hold up to 13 currencies at one time. When you order your card, you load an amount on to your card in your chosen foreign currency to lock in an exchange rate.

When withdrawing money from an ATM or making a purchase in the currency of the country you are travelling in, your card will use the currency of that country - if that currency is loaded on to your card and there are sufficient funds in that currency to process the transaction.

If you don’t have the local currency or don’t have sufficient funds in that country’s currency the transaction will be converted from the currency you have available.

Some ATMs and merchants may recognise that your card has been issued by an Australian bank and offer to convert the transaction amount to Australian dollars (AUD) or another currency before you buy/withdraw cash - even if you have the local currency on your card. The merchant or ATM owner converts the amount to AUD or another currency using their own exchange rate before passing the transaction to Visa or MasterCard.

Do not accept the offer to complete the transaction in another currency or AUD if you have the local currency loaded on your card and wish to use it.

While you might be certain of the exchange rate you are getting if converting currency with a merchant or at an ATM, you’ll often end up paying more for the transaction. The transaction is dependent on the conversion rate and any fees charged by the overseas merchant or ATM. These additional costs are charged on top of the standard international transaction fees charged by CommBank.

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