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How does foreign currency conversion work for Travel Money Card?

See all Travel Money Card FAQs

Last updated 11 September 2018

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. Doing that means you lock in the Retail Foreign Exchange Rate at the time of the conversion.

When withdrawing money from an ATM or making a purchase in the currency of the country you’re travelling in, your card will use the currency of that country if that currency is loaded on to your card and you’ve got enough money in that currency to process the transaction.

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

E.g. you’re travelling in Japan and have New Zealand Dollars loaded on your card. You withdraw 10,000 Japanese Yen from an ATM and are charged the ATM cash withdrawal fee in Japanese Yen.

Since you didn’t have Japanese Yen loaded on your card, we converted the equivalent amount of New Zealand dollars to complete the withdrawal at the MasterCard or Visa exchange rate plus a percentage of the transaction value.

When you’re overseas and withdraw money from an ATM or make an overseas purchase either in-store, by phone or online, you may be asked if you want to complete the transaction in Australian dollars or the local currency. If you choose to make the transaction in Australian dollars, the merchant or ATM provider will apply an exchange rate as determined by them.



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