2. Wise
Wise, formerly TransferWise, is a popular prepaid travel card Australia option for customers who want a simple account with an upfront fee structure. It’s well-known for using the mid-market exchange rate for all conversions. Wise is useful for travellers visiting multiple countries because it supports various currencies and automatically converts them when needed. However, its no-fee ATM withdrawal allowance is relatively limited, which may be a drawback for those who rely heavily on cash.
- Monthly fee: $0.
- Exchange rate: mid-market rate. Wise charges a small, transparent conversion fee, which varies depending on the currencies you’re exchanging.
- ATM withdrawal limits: you can make 2 withdrawals per month with a total value of up to $350 without fees. After that, a fee of $1.50 per withdrawal — as well as 1.75% of the amount over the limit — applies.
- Foreign transaction fee: 0% as long as you have the currency in your account or use their auto-conversion feature.
3. Up Bank
Up is a fully licensed Australian digital bank that combines everyday banking with travel-friendly features, making it helpful for customers who prefer an all-in-one financial solution. Unlike prepaid travel cards, it operates as a standard bank account with a BSB and account number, allowing seamless integration into daily life.
For international use, Up keeps things simple by charging no foreign transaction fees and using the Mastercard exchange rate without mark-ups. While it doesn’t charge for overseas ATM use, customers should still expect potential fees from ATM operators.
- Monthly fee: $0.
- Exchange rate: Up uses the Mastercard exchange rate without adding any additional mark-ups.
- ATM withdrawal limits: Up doesn’t charge any internal fees for ATM use abroad. However, like most Australian banks, they have a combined daily withdrawal limit of $1,000 for ATM and card purchases.
- Foreign transaction fee: 0%.
4. Latitude 28° Global Platinum Mastercard
The Latitude 28° Global Platinum Mastercard is a travel-focused credit card designed for overseas spending, offering flexibility through access to credit rather than prepaid funds. It is particularly useful for travellers who want added security, purchase protection, or the option to cover larger expenses.
While it offers competitive exchange rates and no foreign transaction fees, it isn’t suitable for cash withdrawals due to high fees and immediate interest charges on cash advances. This makes it best used strictly for purchases, with balances paid off promptly.
- Monthly fee: $8 per month (waived for the first year or if spending criteria are met)
- Exchange rate: Mastercard exchange rate
- ATM withdrawal limits: while there’s no specific fee for the withdrawal itself from Latitude’s side, cash advances on a credit card incur a fee of 3.5% or $4 (whichever is greater), as well as high interest rates from the moment of withdrawal
- Foreign transaction fee: 0%
5. CommBank Travel Money Card
The CommBank Travel Money Card is a traditional prepaid option backed by a major Australian bank, making it appealing to those who prefer in-branch support and a familiar provider. It allows customers to preload multiple currencies before travelling, helping with budgeting and reducing your chances of dealing with exchange rate fluctuations.
- Monthly fee: $0.
- Exchange rate: CommBank sets its own retail exchange rates, which include a mark-up.
- ATM withdrawal limits: $0 at CommBank and ASB ATMs. Fees apply for other international ATMs. Daily withdrawal limits apply to protect your balance.
- Foreign transaction fee: 0%.
