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.
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!
Not worth it if you are travelling to Vietnam or Cambodia !
Over a 2-week holiday covering Vietnam and Cambodia we paid about a total 23 USD (about 35 AUD) of bank fees for 4 withdrawals @ ATMs. Expect to pay about 50,000 dong per cash withdrawal in Vietnam in addition to the excess fees the local bank will be charging (depends on your transaction). In Cambodia cash withdrawal fees were about USD 2.50 and the local bank will keep another USD 5.00. In Vietnam, when the card was used in stores an additional 3% tax (VAT) was charged. It felt like daylight robbery. The only positive about the card was the relative ease in which you could use the CBA App to load money in different currencies with a WIFI connection.
Next time I travel to these countries I will be taking cash and exchanging there.
We used this card in USA gets rejected often and works sometime worst was checking in to American Airlines wouldn't work at all ever!! Embarrassing and frustrating tried to contact Com Bank ha,ha good luck with that might as well be on Mars
Going to Vietnam
I suggest that you take cash (USD preferably although AUD is acceptable). Used CBA Travel Card at Vietnamese bank ATMs was charged VND50000 per withdrawal PLUS additional fees of the Vietnamese banks. Vietnam is a 'cash' society with even hotels preferring cash (USD or AUD). And yes exchange rate provided by CBA was low and hotels there don't give good rates either. At least I could access the account and load it via NetBank.
They don't tell you this
Get an ANZ card, no cost & (this is for all travel money cards) ONLY put AUD on the card...you will lose hundreds of $ converting onto & then off it. CBA charge you $17 for the card, then 5% to load money and whatever they want to change it back to Aus $....never again.
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.
Rip off exchange rates for Commbank travel card
Commbank offering .84 exchange from NZ $ to Aus $. FOR $226NZ I am getting $196 AUS. Cancelling my card, Commbank travel card repeatedly gives you very low exchange rates.
Had major issue with the primary card did not work at all had to rely on secondary card or my own credit card. At Las Vegas airport it did not work at all and some places would not accept card pre-loaded with cash.
Not the product that is sold.
What got me on board with the travel card was what I was told was the current exchange rate conversion. Well, even adding 0.1 to a conversion to 100 Pounds makes it $10 more. Which is obviously going straight to the bank. Do not pass go. Not to mention the $4aud they hit you for withdrawing cash. Even at an ATM advertised as 'no withdrawal fee'. I just used my Mastercard Debit card for my last purchase, got the true exchange rate so now we'll see whether the fee is reasonable or not... so to my mind at this stage this travel card is at best a 'backup' that set me back $15 and that charges extra every time I want to put funds into it.
The fact I owe $90 on a prepaid card is ridiculous. The explanation on email was very dismissive and when I went in, they said it was due to a singular purchase. The explanation summerises as: the product was bought on one day, wasn't cleared until a few days later and there wasn't money in at the time. This is incredibly dodgy, as there was still money in my account a few days after this payment supposedly went through AND I added another $100 dollars after the payment supposedly went through. The way everyone was so dismissive when dealing with this was both infuriating and made me feel like I was being treated like a child. $90 is about 2 average weeks pay. That's a lot of money for me.
I used the card in London, Paris, Italy and Greece, each time I had to sign for my transaction nobody checks the signature on the card. Once I just scribbled a signature that was not the same as my signature on the back of the card and I was able to pay for a $200 meal.
So why was I give a pin number. I called customer service from London and was told that signature was the only way I could use my card in most countries. If I had lost my card anyone could have used it. Will never travel with this type of card again.
Problem: A lot of stores won't accept this as a credit card!
A major problem is that a lot of stores refuse to accept this card as a valid credit card when the holder is making a purchase. The reason is that the Commonwealth Bank has, rather stupidly, not put the holder's name on the card. I have run into this problem time and again on my travels in Europe and the U.S.
Bring cash instead!
I went o/s with hubbie + 2 kids and loaded up euro's and pounds beforehand.
In London we could only withdraw 80 pounds from some ATMs and 150 from others. That doesn't go very far for 4 people. So we had to withdraw several times some days. Remember you pay withdrawl fees to CB and the local bank every time you use ATM. CB advised us to use the card at cafes/shops etc instead of using ATM too much.
So we did this,but when we checked online we noticed that some places the bill was converted to aussie $ then back to pounds again.So we had pai...
The banks versus us
Many people seem totally naive . They obviously unaware how much the banks rip off us while travelling. Remember they sell us products for their advantage and do it in a way that's hard to follow. We are currently in Europe and the card works well enough but it seems unnecessary as a credit card and debit card seem on the surface to be less expensive and you can control the amount of money transferring into your debit card account. If you don't want to be ripped off don't travel. Not that being in Australia is all that better
Not able to contact bank
The idea of a travel money card is great except when you key in the wrong access number and are blocked from your account. Ok not a real problem until you want to contact the bank to tell them you made a mistake!! You tell me how you do it because I'm in Vietnam no CBA bank to be found and I now have to just use my visa debit card to make transactions. So for this holiday the travel money card was a waste of time.
The thought that if it was stolen only a limited amount of money would be lost.
If anything goes wrong you are not able to contact the bank.
Not in New Zealand
Foolishly went on advice of my local bank. You cannot test out the card in Australia first, as it is in NZ currency. When we got over there, the chip was corroded and it was useless. then the back-up card also died and could only be swiped, which did not suit about half of the machines in NZ. Lucky we had another account.
No fees when it works. Already paid all the fees up front.
Expensive initially. One card did not work at all.
If you want to shop at Tesco, try something other than the CBA Travel Money Card, mine has been rejected by them, it comes up as requiring a signature which they will not accept. I have resorted to drawing cash at ATM's (OK with main banks, not so all machines)
Bureaucratic process which ensures the bank holds on to your money not you
Turns out the hotel in Sweden made an error and charged the account twice. One amount was completed - so the hotel was paid, and the other was "pending". The amount in pending for exactly the same amount on the same day was incorrect. A simple and obvious case of duplication. For CBA travel money cards, any amount in "pending" is not accessible to the card holder. In the meantime, the hotel is not paid for 'pendng' amounts, so they don't even know they've caused a problem, afterall, their books balance - they don't have surplus money.
So, ...you may have budgeted $2000, stacked this in the card, the hotel charges $1000 and has a pending error of another $1000. You think you've paid your bill and have another $1000 available for the remainder of your trip, but no, the amount you have is ZIP. Unlike visa card transactions where a charge is a charge; pending, however is a term for CBA - the hotel does not get the money and doesn't even realize they are flush with surplus funds; the account holder cannot access it and who do you think has the benefit of this surplus money? Guess! Turns out CBA does not cancel pending transactions. They need authority from the supplier, in this case the hotel. CBA inform they've seen this error before and it takes two weeks for it to be rectified. Be warned travelers - do you want to deal with a travel card where it takes two weeks to fix problems? Clearly the hotel is not motivated to find the error because they don't have the surplus cash and don't know they've caused a problem.
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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