Traps withdrawing from overseas ATMs
We discovered that withdrawing from ATMs in Europe and the UK has a trap that does not appear to be in the Travelex information pack nor in their FAQs.
When using an ATM in Europe or the UK (the only places we used the card), there may be a question on screen such as 'use home currency', or similar. It is important to decline this option.
When we first used the card in Holland, we accepted this option, thinking 'home currency' referred to Euros, which we had on our card.
Instead, the ATM appeared to convert the withdrawal from Euros on our card to Australian dollars, then back to Euros. We did not have an AUD account or an AUD balance on the card prior to this withdrawal, but an AUD account appeared on our card after the withdrawal, with a residual of zero AUD in it - and the transaction showed in our on line transaction statement as AUD, not Euros.
Thus it appears that the card allowed the establishment of an AUD account on our card, and then converted Euro to AUD, and then back to Euro, so we believe we have paid two conversion rates.
In the UK, we declined the 'home currency' option when using ATMs, and received GBP directly from the GBP balance on our card.
In addition, although we used only ATMs that accepted Mastercard and were marked 'no fees', a fee was always charged.
Finally, on cashing out the residual balances in Euro and GBP to our bank account on returning home, we found the $10 fee was applied to each currency, so $20 in total. We could not find a reference in the Travelex information pack to the $10 being charged to each currency on cashout. And, as others have commented, the cashout conversion rates back to AUD are not good.
Hopefully the above will be of some use in informing others.
Horrible product - they literally steal from you
Reloaded money at one point and although i received an order confirmation for a certain amount, somehow only received a fraction of it with the rest mysteriously disappearing. Customer service were incompetent and tried to blame my bank the cba. I am astounded they can literally steal money like this and need to be stopped
The Real cost is when you get home and want to withdraw
I got a good exchange rate from AUD to NZD for my holiday when I obtained this card. The rate was ~1.03 or ~1.04 which was very close to the cash spot price.
There did not seem to be many fees while getting and using this card. Seemed too good to be true. I found it was widely accepted in a large New Zealand tourist town.
Only after returning home have I discovered how this company makes it money: Obscene exchange rates when trying to reclaim any unspent foreign money. They want 1 AUD = 1.19 NZD which is 15% worse than the spot price. Ludicrous! Never will I use them again. Get a ING account or take CASH on your next holiday.
A legal scam - Stay well clear!!!
Another reviewer has described this card in the best way and I can't take any wind from her sails. This card is a money pit of unexplained and unfair fees. Don't go near it. Stick to the tried and true travellers cheques. Every time you make a transaction on this card you are being screwed and further the rates are absolute crap. This is in short, a legalised scam. My opinion of course. Venture in if you are game and foolish.
We have persevered with this card and it continues to disappoint. Mexico, we struggled to find an Eftpos machine where it would work. Thailand we could not find a machine at all where it would work. Finally found one inside a bank and it gave a hefty charge. My daughter had left over cash on it from the holiday so she bought her school books in February. They have just charged her in July for the books and have over drawn her card, not ideal for a student. Phoned to ask why and the women at the other end was rude and no help at all. This is the first time I have ever complained online but I really don't want others to use this service and to be disappointed. Stay away from this product.
Currency conversions at atms
I purchased a Travelex money card in Australia and used the EURO as my default currency. Currently in Europe and all ATMs are taking out a 5% currency conversion fee. Tried and tried to get some help from Travel ex but getting nowhere. My holiday funds are slowly being eradicated and there does not seem that I can do anything about it. When I get back home I will be contacting the ombudsman as their seems no other way to stop being ripped off.
Added stress I didn't need
Picked up card & bought 2nd back up card for $5. Loaded money onto card at Travelex Agency. So far so good
Attempted to download app but continually came up "oops taking too long try again later. After a couple of days still no success.
Went back to agency who said it was an IT issue. Took my details and they were going to ring me.... still not contacted
Attempted to register card but it kept telling me details were wrong. Rang the Australian no for help. Said they would look into it and get back to me.... still waiting. Each person I had spoken to assured me the card was active and ready to go. In New York first 3 times I tried to use it transaction was denied. Very distressing and frustrating. Eventually used back up card and it worked & no further problems Came back home and went back to agency I had dealt with and was told there was probably a problem with the computer chip in first card. Lucky I had bought the 2nd card.
Will not use again. Feel follow up service not good enough. Various questions I asked after I had the card, staff kept giving conflicting answers.
Added stress to the holiday you just don't need.
It was my convenient, a way to keep life, now it destryed me
The past year I used this card, supporting my fiancé in a different country. We would marry next month. I travel to her country often. She became very ill, TB. A hole in her lung. I used this card for convenience. An easy way to get money to her. I sent a lot of money the last few months, in her country you must pay for treatment. Because I sent so much, travelex cancelled my card. Hours on the phone. They didn't understand. I only have one thing to say now. Travelex, you have ruined two lives. They tried to explain policies, I didn't make her the third party. Travelex may have killed my fiancé. They wont care. Be careful if it is a long term card. Ask so many questions.
A very expensive mistake
I would not recommend this card. It is a money pit of unexplained and unfair fees and charges. They even charge for BPay reloads even though the office where I was persuaded to get this card told me there were no fees. Also to get the remaining balance from the card they are charging $10. My experience with customer support was a waste of time.
There are much better cards out there so do some research before you get a card and do not rely on sales people to know their product or tell the truth.
Outright fraud. Complain to ACCC, as well as here.
This card is deceptive, false and misleading and breaches Australian Consumer Law many times over. Complain in writing to the ACCC as well as here and you might get your money back. If you complain to ACCC and we can collectively get them prosecuted for the millions they have fleeced from unsuspecting Australian tourists, then they can be forced to repay us, and the culprits could be put in gaol for this blatant MasterCard fraud.
Oh, and take no notice of the Travellex resellers posting 4 and 5 star reviews here. These guys are scum operating a debit card fraud, pure and simple. They'll do anything to get new business, because once you've bought one of these you'll never buy one again.
Expensive. Convoluted, terrible.
$10 "cash out fee" to withdraw your own money back to your bank account. ATM fees, crappy exchange rates, pretty sure they'll discontinue a product with this many bad reviews. Make sure you check out the fees online before you commit: https://www.cashpassport.com.au/fees-and-limits/ - much better products around!
I have added $500 to this card to use as Yen Japan.
When I arrived in Japan, the card was unusable and I had no back up money.
Upon arriving back home to Australia, I attempted to unload the $500 and customer service informed me that there is no money on the card. I have tried to get this money back form the cash passport team but customer service is very unhelpful. I have lost $500.
Absolutely agree. Loaded my card with US$ to put into my Indian dentist's Dubai bank account (which is in US$).There is way to do this as it involves a swift code and IBAN number. So much for the bad advice from the Brisbane Travelex representative. Never again! And the fees are a huge ripoff!!
Told at the store that we can load up card and reload as necessary when our son was in Europe.
What wasn't told to us was that is actually against there terms..
First time i tried to reload the app wasn't working.. multiple call to customer service and they couldn't tell me what was happening. Finally they told me i could just go to there website or if I called the 800 number they could load $$ for us.
Well 800 said that they can not load $$ so I ended up using the website. Son is still in Europe and a week later the app still is not working.
Frustrating experience all around... get a travel card elsewhere!
Not useful and very costly
The exchange rates are terrible sometimes 10% more than the spot, they charge a monthly non-use fee.
You cannot withdraw in foreign currency from a multi-currency ATM (eg if I had $100USD in my account and wanted to take it out. They will convert to AUD then back to USD and you will get something like $88 back).
They charge a ridiculous rate to close account. The ATM International Fees were too high.
Best thing to use is the ING product that is a debit visa card and doesn't incur International transaction fees.
New card Much better
Very happy this card it's much better than the old Cash passport ...Travelex have lifted their game very good rate exchange is very good in ATM fees but in some countries there are fees but very small travelled to Thailand was very handy i have changed my opinion from the last review due to the new card!
This is a terrible product.
The exchange rates are very poor. Especially if you do in app transfers on the mobile app vs using a normal internet browser on a desktop. How can exchange rates differ because you are using a mobile??
Most amazing is my balance doesn’t add up. $190 has disappeared.
Don’t believe this is cheaper than just paying your banking fees.
This needs to be regulated.
Stranded in Canada BC
Prior to travelling to Canada for a 2 week holiday I loaded up my card with Canadian dollars. Spent several hours in a shop buying ski boots and racked up a $1,200 bill to then be told my card was declined. It had expired! Why was I able to load up my card with MY money and not be informed that it had expired??? Very embarrassing! Then rang customer service and was told I could get $1,000 at any Western Union agency. Got the girl to look it up and was told there was one in the resort I was staying at. They just had to send me a code which I would use to get the money. Waited till the next day - still no code. Rang again. Went through the whole process again. I asked could I just get a replacement card and was told yes, it would take 10 to 15 days. No good, I won't be here then!! Got the code this time, however when I got to the Western Union agency was told I needed more details than just the code and that Travelex always does this to their customers! Was luckily able to get the $1,000 but I'm going to go through the whole process again tomorrow to get more of MY money. Won't be using Travelex any more after I somehow get the rest of my money out. Never again!
We have used the cash delivery service (ie you order foreign currency notes, pay for them by BPAY or credit card, and pick them up from your local post office or it gets delivered to your home) twice and we have found the service to be reliable and cheap.
In this occasion I ordered through the website, which took a couple of goes. The rate received was better by 1.5 cents to what I would have gotten from my bank (who would also have charged a fee of 1%) although they charged a 1% fee for paying by credit card. However, as they do not charge commission, this was balanced by the fee that my bank would have charged.
They also offered free home delivery and I elected for this option. However, the courier decided to simply drop it off at the nearest post office (and did not actually come to my home although I am sure that they will say that they did). This was quite annoying because the whole idea of getting the cash home delivered was to avoid the (admittedly low) possibility of being robbed when picking it up from the local post office. I did complain to Travelex and the operator who took my call noted my complaint and apologised. He did not attempt to argue with me about the fact that the courier did not come and handled the complaint in a very professional manner.
I note the overall poor reviews of the cash card service and I will be sure not to use it! We have used our bank overseas card on three previous trips overseas and have yet to experience a problem although there is a USD2.50 fee for withdrawing cash. Purchases are free and have never been problem.
Unreliable and expensive
I purchased a Travelex card and loaded it with USD on the understanding the money would be accessible without charge from the mainstream bank ATMs in the US. My 1st attemp was using a Bank of America which cost me US$19.75 for withdrawing US$200 ( they applied an exchange rate even though my money on the card wa# in US$). I found the most efficient way of reducing fees was to maximise the withdrawal amount which was US$800 at Wells Fargo for a fee US$5. Attempts to withdraw US$800 from any bank other than Wells Fargo failed with a referral to Travelex. This restricted me to using Wells Fargo banks which was highly inconvenient as they are not as widespread as some other banks.
The card was also used to make a payment at Macy’s San Francisco which went through without issue, however the Secondary card did not work for making purchases at Macy’s New York (Manhattan) or at multiple other stores.
Overall I found using cash (whic( I got from Travelex as they provide a good exchange rate) and my credit card for payments was the most effective way of working. Using the Travelex card for ATM withdrawals is expensive and very restrictive. The other issue I noticed was that there is no statement for your card use so reconciling your balance relies on you keeping your transaction receipts which isnt ideal.
My final grievance with the Travelex card is that the Travelex sales people do not know the product they are selling and provide false information about its capability. I would not have used the card had I known the true details of the card as I now do having travelling across the US and used or attempted to use it in multiple cities.