Terrible exchange rate but was widely accepted
I have just finished a four month trip across Europe with this card and whilst I have not had many problems with it being accepted (I think there were two occasions in the entire time I have been traveling) there were a few things that made me feel the card was not worth it. Firstly and most glaringly was the ridiculous exchange rates the card uses. The ATM withdrawal fee of $3.50 seems reasonable until the exchange rate kicks in. If you are taking out $300AUS worth of cash (because you have just entered a new country) you will pay about $15 be...tween the $3.50 and the poor exchange rate which seemed really strange to me. Also you will still be charged for taking money out even at the bank instead of the ATM which I did not realize but it is still the $3.50. The second problem was the online process was extraordinarily slow, even with a high speed internet connection which was also very annoying but was livable. However there are some very good points about the card. It is widely accepted where ever I traveled, including remote parts of Russia surprisingly. Also it accepts payments in non supported currencies although the exchange rate is not that great. Surprisingly the exchange rate is worse for supported currencies then the non supported ones but both are still very poor. All in all if I had my time again I would have shopped around more rather then trusting the CBA just because they have been my bank all my life. After this I am going to look at other banks and see which one best suits my needs. Widely Accepted, Can use non supported currencies Terrible exchange rate, Poor quality internet management
Not happy jan
I am living in England for a year and I would not recommend this card. I was told I would have access to my own fund whenever I needed it and I could use it for online purchases. It only works sometimes. Many British merchants won't accept a card not attached to a UK address and it is impossible to anticipate who these will be. In shops, if the assistant has never heard of this card they may be reluctant to even try it.
Hotels may not accept a card with the name prepaid. Larger transactions may be unexpectedly declined if the daily limit is...exceeded, so you always need to know what time it is in Australia.This is just stupid. A helpful office person, who doesn't mind the long queue building up behind you, may be able to overcome this by making several smaller transactions. This is ridiculous.I was also told there is 24/7 help from the Commonwealth Bank - this means the answering machine is left on all night and it tells you to call back during business hours. Instead of using my previously purchased money for daily expenses in supermarkets where some accept and some decline, I have gone back to expensive cash withdrawals, to save having to constantly watch the balance of my streamline account for the effect of enormous fees. this is primitive. I am telling my friends not to bother with this nuisance card.
Waste of time and money
I have just got back from visiting 4 countrys over 6 weeks.So I used this card frequently.I was told by Cba in Perth there we're no fees and it was set up to go. How ever when I went to reload the card I was asked for a SMS code,now travelling through 4 countrys I don't carry my Australian number,so had to call Australia on 4 occasions.From S.Africa,Egypt,and Turkey to reload.Now these Phone calls weren't cheap and I also got charged to reload and redraw money....No Fees yeah right!and their exchange rates are terrible compared to if you changed cash for foreign currency.
the withdrawal fee is cheaper than you normal bank card
Everything you are led to believe was false
Will probably not use this again
I got the CBA Travel Money Card for my daughter to use while she was in England on student exchange.
I understood and accepted that there were fees involved in recharging and also a 2 pound fee from the ATM machine per withdrawal.
To manage her budget and to minimise fees she would withdraw 200 pounds per transaction.
This seemed to work ok for the first few months until one transaction when she withdrew 200 pounds and was debited 400 pounds from her account.
A few days later when she checked her account online she noticed an extra 200 p...
Great idea, but not as smart a card as advertised
Loaded HKD and Euro for travel to Hong Kong and France. As soon as started spending in HKD (i.e., card full of euro AND HKD), the card coverts from the pre-loaded Euro to HKD and charges conversion fees. As spending continued in France, using the card as pro-loaded master card and spending in Euro, the card decided to sometimes spend on the the pre-loaded Euro and sometimes convert HKD into Euro and charge conversion fees again. It means I could not keep track of my spending and had to file a 9 page total dispute in writing today after retur...n. Also spent about two hours working out exactly what happened. I did not want to do too much banking overseas on free Wi-Fi for safety concerns. May not hear for 10 business days. All in all, a great idea, but I think technical problems result in total chaos for your money management. Will not use again. Locking in the exchange rate was a plus A card converting between currencies in a totally chaotic manner.
Never again CBA
The card worked most places in US, did not work at any ATM'S in canada unless you found an actual Bank. The worst part was getting back home to try and withdraw money out of the card. The website states to go into the bank or CBA ATM to withdraw the remaining cash so i went down the bank, waited in line 15 mins to be told that i had to take the money out at the ATM outside. The ATM said i had no funds (what a joke) so i went back into the bank and they told me to call the customer service line. After calling the customer service line they now t...ell me the money has to be taken out at the branch!!!! Ive yet to go down the branch to withdraw the remaining funds... I'm getting the runaround, this is a joke. Poor customer service. They will be sure to know how I feel in the coming days. CBA I will never use you again. Poor customer service, does not work at most canadian ATM's, issues withdrawing remaining funds
Would never use again. Had 2 cards, one in Aust dollars, one in US dollars. In loading the card with USD the bank took a 4 to 5% rate margin.
The only way I managed to use either card (except on one occasion) was by way of ATM withdrawl. For the AUD card the fee was nearly $9 for a $260 withdrawl (ATM limit of S/.700 ), but the currency conversion rate was good. For the USD card ther was a $2.50 feee for each transaction, but no conversion fee.
However the biggest problem is that I found nowhere in Peru (Cusco and Machu Picchu - 1 month tot...
I loaded up my card with $1053US and $7300euros as I was going to Europe and taking a cruise which uses US$ I asked the ship to take the US$ first which they did not they used my euros which I had to pay 2 percent changeover on so I only used US$ once that was an ATM withdrawal of $106 when I went to check my account three days ago I noticed that there is $700US gone i am in Rome and I can email everyone on my iPad except the commonwealth travel card help section I have tried the phone number with every combination I can think of and I can't ge...t through all at $2 every call thanks to telstra now I went onto another commonwealth email site and emailed them asking for help but I have not had a reply I will have to use my credit card now and wait till I get back to Australia to sort it out, where is my money commonwealth some help please No help from bank while overseas
This is a disgrace!
Having put a large amount of pounds sterling on the card before I left, I got to London, only to discover the card didn't work at any of the 6 ATMs I tried. Frantic calls back to the advice line resulted in sympathy but absolutely no help (and they didn't call me back, even though they said they would). Finally I had the idea of going on the website, pretending I wanted to change my PIN, and 'changing' it to the PIN that was already on it. Then it finally worked.
By the way, if you top up your card on-line like they want you to, they take ...the money out of your account immediately, but wait to actually put it on to the card (they pocket the interest the money earns in the meantime), and then you may get a rate appreciably lower than the one that was in operation at the time you put in the money. Best not to do it on-line, but go into a branch. Then you can find out the actual rate you are getting. When it works, it's convenient. Expensive, unreliable, and very poor backup.
This type of product is an unnecessarily complicated way of managing finances when overseas. As stated in an earlier review, a credit card and a debit card are preferrable to a Money Card.
Had no problems withdrawing from ATMs or using over the counter in USA and Italy.
My problem wasn't entirely the card's fault but the complications involved in using it did not help. I was advised by Comm Bank staff that topping up could be arranged using BPAY. I tried to do this in Rome and my bank (St George) wouldn't allow it. I arranged for my family to m...
Find something better
Their spiel "Access your own money wherever MasterCard is accepted" your money is not always easy to access. Works at most places when used to purchase goods - not all! Not at supermarkets in Vienna. Sounds to good to be true - it is!
No bank fees charged if card is inactive after 12 months. No bank fee for cross-currency conversions but expect an very low exchange rate!
Too costly to get back unused funds. ATM withdrawal limits were quite low and never encountered an ATM that paid out the max. allowed per day. Can't be linked to PayPal because there's no name on it. Transaction records older than a few months cannot be accessed online or even by the CTB!
I had Canadian and US dollars on this card . The card was only used to obtain cash from ATMs and was not used for purchases so I can't comment on that side of things. Obtaining cash at different ATMs attracted fees of between $2.50 and $5.00 . The main problem with this card is the bank itself , they charge exorbitant exchange rates when buying the card and again when you cash in whatever is left on the card after your trip .I wanted the money left on the card back in Canadian and US dollars but they wouldn't do that , it had to be changed back...into Australian dollars and you've got no choice but to cop their ripoff fees .You do have a bit of leverage going in , check the other major banks exchange rates , pick the best rate and demand the same rate or you will go to the opposition , worked for me . I would not get one of these cards again but if you do make sure you take all the money off the card before you come home because you will get a much better exchange rate from the money exchangers than you will from Whichbank . Saved carrying large amounts of cash . The FEES attached to this card
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.
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.