Commonwealth rate exchange is a rip-off
Their exchange rate is the worse in addition to their fees, you get the worse deal if you either selling or buying, they rip you off like a hand saw up and down.
I can't believe the difference between buying and selling is 10.4%.
Closed my account without contacting me or consent.
CBA closed this account without giving any forewarning. The have effectively stolen money from me. The bank isn't willing to give back MY foreign currency. AVOID using this product. Go for other options.
Absolutely Amazing !!
I've just returned from a 2 month trip to Europe during the height of COVID19 and if wasn't for this card i wouldn't have been able to do so much stuff in the limited amount of time that i had. In addition to that it's awesome for online shopping since there's no minimum charge and the transfers are instant.
Love it !!
Rip off exchange rates
Terrible product to have..worst possible rates you will get through banks. Always go for other options instead of banks..be mindful, banks are not there to help in need.. rather waiting for our ignorance and fill there fat pockets...
Where do I start! The exchange rate was terrible, at least 4 cents less than other cards. There were several instances where I tried to transfer money on the card only to be given an error message saying that the travel card didn't exist. And finally on check out I tried to pay the bill using my travel card which had sufficient funds and it was declined. I spent almost an hour at reception trying to pay in $500 increments, half of which were declined. I tried to phone the number provided on my travel card info, which unfortunately was a general Commbank number and not a travel card hotline. Will not use it ever again!!!
Horrible exchange rate.
Horrible exchange rate. Not competitive at all. While easy to use, and beneficial if going multiple countries, there are better options out there. Ie. I got an exchange rate of 71 yen when it was trading at 75.
Horrible dispute mechanism
While it is convenient to be able to pay without fees the exchange rate is horrible.
We used it in Switzerland, Euro counties and the Czech Republic. Loaded before going with $A and Euros.
We had 2 transactions turned down that are currently still “pending”. This was 26 and 24 days ago. Have had numerous emails and 4 telephone conversations and still not resolved. The service desk was answered on all but one occasion by operators who had heavy accents and were extremely difficult to understand as I assume I was to them.
Emails were answered 3-4 days later with a pleasant but irrelevant message instructing me to call them once again.
No ability to call using WiFi call made this difficult whilst overseas.
Simple and effective
Strange to see so many poor reviews for this card - I have found it to be excellent through South America, Bali, Asia etc. I haven't had a single issue with it. Transferring funds is immediate on the app, and its nice and safe. Loading up with another currency, and withdrawing in that currency is a good idea to avoid extra fees.
I was only charged $3.50 for (ATM) cash withdrawals - pretty reasonable I thought. Beyond this card, its always good to have an international credit card (like 28 degrees) which can be used as back up.
you don't pay any transaction fee if you withdraw in the currency loaded on the card. I.e Load up with Euro, and withdraw in Euro and you will only pay with withdrawal fee.
No Problems at All
Having not travelled for 20 years I was not sure what the best option for money in Europe.
I finally decided on the CBA Money Card, glad I did as I had no issues at all.
CHILE (Card won’t work)
In Chile, I was not able to use it to pay anything. The card will only work with just one ATM (Bank of Chile) which is difficult to find one
First of all i didnt want this card they CBA pushed it on me, said it would save me money that was a total lie the currency rate the give they is crap so make money there and then if tranfer the money back to its original currency they rip you off 20C in the dollar, i was not told of any of this when they pushed the card on me absolute thieves.
Virtually useless to a couple!
Went to a branch who said it was possible for my wife and I to get cards and link them. We have a joint account, joint home loan and joint credit card but in fact we cannot get a joint travel money card or even two seperate ones that are linked. Now I have to either give my wife cash or be with her 24/7 as the pin option on the card doesn't work 99% of the time and requires a signature! All in all pretty much useless to us!
Ripp off. I used this card when I went to the US. Easily paid $500 or more than I needed to.
Dont waste your time. Its easy to open a bank account once you land. Then, transfer money using TransferWise. That the best app with cheapest rates and no hidden fees Ive found.
Misleading and deceptive
I was going on my first trip overseas to Phuket and was concerned about a safe and convenient way to access foreign cash, since I banked with the CBA I looked into their Travel Money Card product and was sucked in by the so-called "features & benefits". Once you travel and see what other seasoned travelers do with their cash you realise those "features & benefits" aren't really all that beneficial and are just hyped up to sell the product. Ultimately the bank benefits a whole lot more from you using the card than you do. After returning from Ph...uket I went through the receipts and found that the exchange rate I was getting from CBA was consistently at least 10% worse than what I could have gotten by exchanging AUD cash at the foreign exchange booths in Phuket (which is what the seasoned travelers were doing). So on this Phuket holiday I had budgeted $3000 AUD spending money loaded onto the card, I lost $300 just from CBA's rip off exchange rate alone and that's before factoring in their other fees. I cancelled the card not long after returning home once I came to the realisation this card was mostly just a gimmick and money maker for the bank with very little benefit to the customer. There are much better travel card products out there and none of them are from the Australian big 4, there's a reason why they were the subject of a royal commission.
Couldn't even use it at a large department store and for petrol. Just kept getting declined. Useless in America. Ended up having to withdraw cash and got charged almost USD$10 in fees at the ATM. Not for emergencies... it will likely get declined.
Questions & Answers
can we transfer money overseas (India) through travel money card by using money gram.
How to renew my travel money card with commonwealth bank while I’m overseas ? Do I have to be physically present in Australia in order to renew it? Is there any other way to renew it while I’m overseas?
Hi Kit. Check out all the reviews before you renew the card.
Hi, the card was used to withdraw $100 USD from an ATM in Walmart in Kentucky USA. Was charge $2.50USD by the Commonwealth , but then charged an additional $18.36 USD. So a $100USD withdrawl cost $20.86USD , About $30 AUS. Is this right? How do we avoid this.
It was probably a private ATM. Always use recognized banks. I would suggest only withdrawing when you need cash and don’t do this often. Use the cash card to pay for as many of your transactions as possible as there is no fee for payments.
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