Very important detail-they forgot to mention!
Warning! When I tried to use my card online in Europe to purchase a flight, they forgot to mention that they would send a code to my mobile phone number, to verify my identity. My australian phone number did not work in Europe, I used local mobile providers to avoid roaming chargers. Therefore the card was useless online!!!!! Emailing me the code would have solved this issue... very frustrating.
Sounded great in the bank but only if I read the detail. Exchange rate is poor and fees are unreasonable. Commonwealth have had the privilege of using my money for years, no more, time to move on.
- Verified customer
Terrible exchange rates don't compensate for the lower transaction fees
I did some comparisons between using credit card and the travel card. For purchases, the amount payable is actually less with credit card (taking into account lower fees but worse exchange rates) and for cash advances the credit card is also more economical for advances less than around $200. Over this amount the travel card is better because of the fixed $3.50 fee.
However a real advantage of using a credit card is that you are only being charged for what you actually need. If you load your travel card and don't spend it all, you lose aroun...
Yet another bank ripoff!
Like every "product" from Commbank it's a complete ripoff and gougefest. On top of predictably low exchange rates, the withdrawal fee and ATM fee works out at about $12AUS! The only way not to get scammed by the banks and financial institutions seems to be to risk it and take cash and look for the best rate at your destination. I wish I taken more cash before I left rather than be at the "mercy" of the souless Commbank thieves!
Worst experience CBA worst service ever
Rates are terrible, they charge card issue fees online but not in the bank! Withdrew 200 got charged 220 overseas.
Customer service on card and generally with CBA is terrible. Would not recommend.
The ATM fees add up
The ATM fees add up and the exchange rate is rubbish. I rang up commbank and they said the exchange rate is lower because of all the fees but then there are fees for everything on top of that. The card is a cash cow for the bank, I was hoping that they would offer something more reasonable for loyal customers but now it's obvious that gen y didn't kill loyalty, it was the big companies.
As a individual who had problems with my last travel card through another company this Travel car came with no problems. I used this card in 13 countries and when I finished it was an easy process to close.
Side note, always look away at the reviews from private messages. Only trust reviews from Members!
Never used but still compromised
I am in Seoul, using a CBA Travel Card. My other, back up card, that I have never used, has been used at an ATM in Indonesia. CBA's service for those travelling is terrible, hangs up after keeping on hold. To make a dispute, you need to print a form, fill it out and post it to Sydney - not useful if you're travelling. Would not recommend.
Not worth the convenience
Used card in Europe. Don't get the card if you're happy to withdraw cash on your normal bank card. The travel money card gives you a significantly low rate in comparison to withdrawing cash. So, if you're happy to use cash during your trip, I'd suggest skipping the travel money card.
Avoid "travel money" cards at all costs
Banks not only make their money from customers being unable to do mental arithmetic when traveling, but any cash left after the expiry date they (wait for it) CONFISCATE ! The constant fees for switching between currencies are the least of a users problems. A much better idea is to obtain a credit card with no annual fee and no conversion fees, and preload it with Aussie dollars making sure it is NEVER in debit and use that to withdraw cash at overseas ATMs. The 28 Degrees card is very good in that regard, but make sure you pay off in full every month or high interest charges apply.
Card was very easy to use and performed well. However be aware that pin may not be accepted for goods and services and you will need to sign your docket and that your signature will not be checked which means do not lose your card. (used in Canada).
Commbank Travel Money Card - At Least Ned Kelly Had a Gun!
just returned from Singapore and changed SGD Into AUD, works out to around 12% or more deductions from your funds using the Commbank Travel Card. No way around this so cut them up and chuck in the bin
Cheaper to use your debit card for withdrawals
Awful card. Total waste of money. Commonwealth plug it and plug it. Finally decided to buy it for $15 plus you have to load $5 starting balance, so the real cost is $20. Then you have to load currencies onto the card. But they give you the worst exchange rate you can get, I'm currently in Dubai and their exchange rate was 3 cents per dinar lower than any other exchange. Then they hit you for a 4.5% conversion fee to put money from your account onto the card, 4.5%!! "The rate applicable is the MasterCard or Visa exchange rate at the time of the ...conversion plus 4.5%" taken off commonwealth website. Then the robbers take around $3.50 atm charge. Totally shocking. It's actually cheaper to use your debit card in an ATM, where they already charge a ridiculous 3% plus I think a flat $5 per withdrawal but at least the atm give you a rate far closer to the real exchange. Best advice, either get a credit card that has zero charges or go with a bank that has global partnerships as you can use their ATMS for much lower e.g. hsbc or Westpac. So to Sum up: - $15 plus $5 to get the card - exchange rates far below the real rate, Normally somewhere around 5-10% worse - Charge a 4.5% conversion fee - Charge of $3.50 per withdrawal Debit Card
Worst experience to date!
The travel money cards are a joke! Not only are they easy targets for fraud (someone was able to access both of my cards to make online purchases, despite one having never been used and being locked away) but to have new cards reissued overseas is impossible.
After the fraudulent activity occurred, I had to jump through a number of hoops to seek assistance in having the money recovered. Despite adhering to all of the processes and following up three times, the money was not reinstated to me as they lost the paper work, which was sent via em...ail.... to figure. Three weeks later and follow up on my behalf, the money was reinstated. The process of ordering new cards.... well people if you want Commbank to ship them to you Internationally... given that they are travel money cards... you are out of luck. For some reason there is a strict character limit on addresses which doesn't accommodate for international addresses. They also refuse to put an international number on the shipping order, despite that a phone is mandatory for the shipping company. So what does commbank do? Gives a fake number. What happens when the cards hit your country of location with an incomplete addresss and no phone number?? That's right people, you don't get your much needed cards. 10-14 working days is actually 6 weeks because the company can't get a hold of you. The comforting words of staff "We would rather see you upset than have our security breached".... which translates to "we would rather see you homeless in another country than actually help, considering you're in this situation because our security was breached"
All up my exchange costs were equivalent to a 12% fee
They hit you with a terrible rate to put a foreign currency on card, then if you take money out at a foreign ATM the other bank also charges you an exchange rate.
Commonwealth Travel card robbery
I deposited $2000 on my travel card in euros only to have the account swept by the Bank a few days before my trip. Apparently my card had expired but the Bank gave no forewarning that they would cancel the card and take the money. They should never have accepted the deposit on an expired card. I had to apply to receive the funds - which they say will take 28 days - but they will pay it back only in AUD. So that's two lots of forex transaction fees plus an administrative fee I am up for. I will be lucky to get back much more than $1800 of my $2000, without even being able to use the euros I thought I purchased, because they accepted my deposit knowing my card had already expired. Surely that can't be legal?
Commonwealth Are Terrible
They took $400 worth of fees from a transaction of 4,000. Now i have 4,000 on this card, if i exchange it back to aud they will undercut me $400 again. This is seriously fraud on a big scale.
Do not use!
IF I COULD GIVE IT LESS THAN 1 STAR I WOULD.
This card was super easy to obtain - which should have made me realise it was too good to be true. I knew I was paying a premium to use my own money overseas, but was happy to cop that (to a degree) for the security. And flat rate $2.50 for each ATM withdrawal, that seems reasonable.
But $2.50 just what commonwealth charges you. After they take a cut on all the money you transfer (at a rate lower than exchange rate). There's also the additional fees you'll be charged for the bank you withdraw fro...
Terrible travel card don't use Combank.
Commonwealth Bank is holding $642 of mine in pending payments that the resort machine in Canada Panorama Ski Resot took while declining payments but still took money. I am on holidays now and cannot access my money to have my holiday cannot contact bank no phone just internet i am so annoyed they have ruined my holiday and it is my money which i cannot now access.
Honestly I hesitated yet I tried and I was happy
Been from US and I would say I'm so glad I used it. I didn't withdraw from Atm , i used it to purchase on shops, resto and pay accom and there were no charges. Also i just transferred money from my savings to my travel card via online and it was so convenient and fast. Btw select credit if asked coz it is not savings. Hopefully it would work the same for all travellers going to other countries
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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