multi currency travel debit card

The smarter way to travel

Multi-currency Cash Passport™. One Card, Ten Currencies.

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Multi-currency Cash Passport

10 currencies, locked in rates.

Lock in exchange rates each time you load and top up. Load up to 10 different currencies on one card. Pound Sterling, Euros, US Dollars, Australian Dollars, Canadian Dollars, New Zealand Dollars, South African Rand, Turkish Lira, Swiss Francs and Emirati Dirhams.

Stay in control

Manage and track your Cash Passport on the go via your mobile, tablet, laptop or PC. Login to  My Account  and stay in control of your money. 

Accepted at millions of locations

Preload your Cash Passport and use like you would a credit or debit card in-store, online or to withdraw local currency at ATMs.

Global assistance

Help is only a call away. If your card is lost, stolen or damaged, we can replace it quickly or provide you with emergency cash up to the available balance on your card (subject to availability).

Today's exchange rates*

Running low on travel money.

Multi-currency Cash Passport is reloadable, allowing you to top up any of your currencies, anywhere, anytime.

You can top up in 5 ways:

• Bank transfer (via phone or internet banking)
• Via the mobile app
• Over the phone
• In participating branches

Learn more about your top up options.

Keep track of your travel money

You can use your mobile, tablet, laptop or PC to login to My Account  and stay in control of your travel money.

Register for My Account , so you can:

• Track your spending
• Top up your card
• Transfer between currencies
• Retrieve your PIN number
• Suspend your card temporarily

You can also download the Cash Passport mobile app, available for iOS and Android devices.

Travel with confidence

Safe and secure access to your money

Cash Passport uses Chip and PIN technology which means you can rest assured you have additional security making your card safer than carrying cash. Accepted at millions of locations and cash machines worldwide.

Looking for a back-up card for safe keeping? Simply purchase an additional card when ordering online or in-store.

We're here to help

We're only a call or email away at all times. Our global assistance team will help you if your card is lost, stolen or damaged.

We can replace your card quickly or provide you with access to emergency cash up to the available balance on your card (subject to availability), so you can keep enjoying your holiday.

Need further help?

View our frequently asked questions or feel free to contact us .

Cash Passport™ app

The new Cash Passport app has an improved design that makes managing your travel money faster and easier.

Start travelling smarter in just a couple of taps. Activate your Cash Passport card from your mobile, download the app from the iOS or Android store, log-in, and load up with your preferred currency. Simple!

Now you can securely store your payment card details in the Cash Passport app, so whenever and wherever you are, you can top up with up to 10 currencies, including Euros, US, Australian and Canadian Dollars and British Pounds at the touch of a button.

Stay in control the smart way. The new message centre feature lets you stay on top of tailored notifications, including low balance and transaction alerts. Keeping you up to date with your own personal need to know information.

Move money between your currencies with just a couple of taps – it’s that simple! Quickly move money between 10 currencies and spend more time enjoying your holiday.

Priceless Cities

Priceless Cities is a program available exclusively to Cash Passport cardholders and provides access to unforgettable experiences in the cities where you live and travel.

There’s a world of possibilities waiting for you to explore, so why not break free from your routine for a moment, a night, or even a weekend? Fuel your passions. Make memories to last a lifetime. Start Something Priceless.

Find out more

Multi-currency Cash Passport is issued by PrePay Technologies Limited pursuant to license by Mastercard  International. PrePay Technologies Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN: 900010) for the issuing of electronic money and payment instruments. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

*Foreign exchange rates can fluctuate and the rate that applies one day will not necessarily be the same on any other day. The exchange rates set out on this website apply to top-ups that are made via this website only and that are applied to your card account within four hours. We will provide you with the applicable exchange rate at the time you top up.

Apple and the Apple logo are trademarks of Apple Inc. registered in the U.S. and other countries. App Store is a service of Apple Inc. registered in the U.S. and other countries. Google Play and the Google Play logo are trademarks of Google LLC.

Today’s exchange rates*

Wise Travel Debit Card Review: Fees, Exchange Rates, Limits and How to Use It

There are many things you need to keep track of as a digital nomad, such as visas , travel documents, and accommodation , to name a few.

But one of the most important things to work out is your finances. As a digital nomad, you are likely constantly moving between countries and switching currencies, so having a travel debit card is imperative .

The Wise debit card is an easy financial solution for frequent travelers, digital nomads, and expats . So, what is the fuss about this Wise travel card? How does it work? And most importantly, should you hop on the bandwagon and sign up for it?

I have been using the Wise Travel Card for quite some time now and, in this article, I will give you my honest opinion about it.

What is a Wise Travel Debit Card?

If you travel often, you have probably used or at least heard of Wise (formerly Transfer Wise) .

This UK-based tech company was founded in 2011 by Estonian businessmen Kristo Käärmann and Taavet Hinrikus on the principle of providing fast and fair exchange rates for international transfers without any sneaky fees or below-par exchange rates.

I have been personally using their Wise multi-currency account for years now, and it is still the primary way I transfer money abroad. But, I recently started using the Wise travel card , which added an entirely new dimension to my travels.

Can I Use The Wise Card For Traveling Abroad?

The Wise travel card it's not a credit card and functions pretty much like a regular debit card. You simply add funds to the account and insert, swipe, or tap to pay for items.

The main difference? With Wise, you can hold money in more than 40 different currencies and pay like a local for items in more than 160 countries worldwide without having to worry about hefty fees or markups on conversion rates.

Your Wise Travel Card is connected directly to your Wise account, so you can spend funds from your balances.

Who is the Wise Travel Card for?

Obviously, this is a “travel” card, so its primary purpose is for spending abroad while traveling . That said, you could totally use this for your day-to-day expenses. Traditional banks aren’t really designed to cater to frequent travelers or digital nomads , and the Wise Travel Card fills this gap.

For example, my wages are paid from the US, but I live abroad permanently, so I can easily transfer from my US-based bank to Wise and then simply use my Wise card for most of my daily expenses.

You should consider using the Wise Travel Card if one or more of the following applies to you:

• You frequently transfer funds from another country that uses a different currency.
• You travel internationally often and need a card with low currency conversion fees.
• You often shop online with international retailers that sell their products in a foreign currency.
• You own a business and need a card for international expenses.
• Your current bank card has high currency conversion fees and you want to get away from a traditional bank account
• Your current bank card has high fees for using international ATMs.

Wise Card Features for Traveling Abroad

If you have used a travel prepaid card like Revolut , Chime , or Monzo in the past, you can expect similar features from the Wise Travel Card. Let's see which ones are those:

• Low fees on conversions with the mid-market exchange rate
• Hold, spend, and exchange more than 40 different currencies in your Wise account
• Available to citizens and residents of more than 30 countries , including the UK, Canada, EU, USA, and Australia
• Manage, top up, freeze, and view your card balance in the Wise App
• Use at over 2 million ATMs with free monthly withdrawals up to certain limits.
• Create up to 3 digital virtual cards for free
• Auto currency convert feature to automatically convert your funds at your set rate
• Ability to make Contactless payments
• Connect to most popular eWallets like Google Pay, Apple Pay, and more
• Free spending of any currency you hold in your Wise account
• Biodegradable and eco-friendly card design

Pros and Cons of the Wise Debit Card for Travel

When I first started my digital nomad journey, I quickly came to a rude awakening when I found that my bank was charging exorbitant markups on foreign exchange and fees for ATM withdrawals .

If the same is happening to you, you’ll want to get your hands on this gem of a travel card . But before you sign up, let’s go over some of the upsides and downsides of the Wise Travel Card.

Pros and cons:

What to love about the wise debit card.

For me, the Wise card's standout features are the app's user-friendliness , the multi-currency account , and the low markup on exchange rates .

Being able to hold more than 40 currencies is a game changer. Transferring funds to different currencies in their app when I travel abroad is super easy. To give you an example, I spend quite a bit of time in Europe, the USA, and New Zealand. And with Wise , I can have separate accounts for USD, EUR, and NZD, which makes my life SO much more manageable when traveling to these countries!

On top of that, while there is a small markup fee on currency exchange, it is extremely minimal compared to other banks I have used .

What Could Be Improved About the Wise Debit Card?

The obvious downsides of the Wise Travel Card lie with ATM withdrawal limits , longer card delivery timeframes , and the lack of a premium option .

I am based in the USA, and my card took more than 2 weeks to arrive. Most digital nomads don’t spend too much time in each place, so this can make it difficult to receive your card initially if you are a frequent traveler .

Also, while card transactions are becoming the norm in many countries, cash is still king in several countries I have traveled to in the past few years. The Wise card is NOT exactly the ideal card for withdrawing cash . You’ll only get two transactions for free , and then you’ll be paying a usage fee as well as a 1.75% to 2% markup . This definitely isn’t a dealbreaker, but I hope Wise will improve this in the future.

What Currencies Can You Use With the Wise Travel Card?

One of the main reasons Wise has kept me on board as a customer all these years is their multi-currency account . This is truly the crown jewel of all of Wise’s features.

You can store 40+ currencies in various wallets in your Wise account , but this doesn’t mean you are limited to spending in those currencies. In fact, you can use the Wise debit card in more than 160+ countries ! If the currency you are spending in doesn’t have a wallet option, the Wise card will simply exchange the money into the payment currency at the time of your purchase .

For example, I was recently in Guatemala, and, unfortunately, I was not able to store Quetzal (the local currency) in my multi-currency account. But when I bought something, my funds were automatically converted from USD to Quetzal at the mid-market rate (plus 0.5%).

There are also 11 currencies for which you get account details to make bank transfers . This means you can transfer funds in the following currency balances directly from your Wise account to another bank account.

This is a feature of Wise that I use often. If I need to transfer funds from my US bank account to one in another country, I almost always use Wise as a “middleman” in order to avoid unexpected transfer fees .

While you won’t be able to make bank transfers in other currencies, you can hold them in your Wise account and spend with your travel card.

How Does the Wise Card Exactly Work?

As you can see, the Wise Travel Card is a wise decision for any traveler (see what I did there?), but how does it exactly work?

As with any new bank account or credit card, there is a bit of a learning curve when first using your Wise travel card . That said, using this card isn’t rocket science, so you’ll be saving money on exchange fees in no time!

How to Use the Wise Travel Card Abroad

The Wise travel card is specifically designed for spending money outside of your home country, so as you would expect, it is pretty easy to use abroad.

All you need to do is order your card , activate it, create a PIN, add money to your account, and you will be all set to use the card in a different country!

The Wise App

There is nothing more annoying than an app that is built for developers and not for the general public. Your banking and financial app should be easy to navigate and access.

I personally find the Wise app to be extremely user-friendly and intuitive . All features are easy to find, and when navigating through the app, I rarely got stuck or failed to find a setting.

I was easily able to change personal settings, connect bank accounts, exchange money, and send transfers from the app.

How to Order Your Wise Travel Card

Ordering your Wise Travel Card can take some time (mine took more than 2 weeks to arrive), so I recommend getting on this as soon as possible to ensure you have the card for your next trip!

These are the 3 simple steps you will need to go through:

Step 1: Create a Multi-Currency Account

If you don’t have one already, your first step will be to sign up for a Multi-Currency Account with Wise

Step 2: Start Using Your Virtual Card Immediately

After making an account and verifying your details, you will then be directed to choose a digital/virtual card or a physical card . Digital cards are free and can be added to Google/Apple Pay or used for online payments immediately!

Step 3: Order a Wise Debit Card (Recommended)

If you want instead a physical card, you can do so by clicking on the “Card” tab on the main page and then click on “ Order a Debit Card ”. Physical cards cost a one-off fee of 7 GBP/7 EUR/10 USD , and it will take 7 to 21 business days for the card to arrive, based on your location.

If you'd like to visualise the entire process, watch the instructional video below:

How to Activate Your Wise Card

Once your Wise travel card arrives, it is time to activate it and start spending ! Luckily, for most Wise account holders, you won’t need to take any steps to activate the card, simply make a chip and PIN payment, and the card is ready to go !

Activate Your Wise Card (for US and Japan Customers Only)

As I mentioned above, Wise customers in the USA or Japan must activate the card separately . This isn’t too much of a headache, just don’t forget you need to be in your home country .

Here is a step-by-step breakdown of activating your card if you are a US and Japan customer.

• Log into the Wise app and tap on “ Card ”.
• Then tap on “ Activate Card ”.
• You’ll then be prompted to enter a 6-digit code that you’ll find on your card.
• After entering the code, you’ll create your PIN .

If you'd like to visualise the steps to activate your Wise card for your region, watch the instructional video below:

How to Change the PIN for Your Wise Card

Did you forget your PIN? Don’t worry, it happens to the best of us!

Luckily, if you are a US card holder, you can easily change your PIN in the Wise app :

• Tap on “ Card ” in the Wise app
• Select “ Change PIN ”
• Enter your new PIN 2 times, and you are all set!

If you are a non-US Wise card holder , you cannot change your PIN in the app , unfortunately. Instead, you’ll need to change it using an ATM that supports PIN changes .

My best advice? Choose a PIN you’ll never forget, or keep it written down somewhere secure.

How to Add Money to Your Wise Travel Card

Your Wise travel card is linked to your Wise Multi-Currency account , so you’ll need to top up your Wise account with funds before using the card.

This is a pretty straightforward process:

• Logging into your account
• Choose which currency balance you want to add money to.
• Click “ Add ”.
• Choose which currency you want to use to top up the account.
• Type in the amount of money you want to add.
• Choose your payment method (bank transfer, debit card)
• Confirm the top-up and verify the money arrives in your balance.

Watch the instructional video below to visualise how to top up your Wise balance:

How to Freeze/Unfreeze Your Wise Card

One of the downsides of constant travel is that you put yourself at risk of fraud or losing your card. If you notice potential fraudulent transactions from your Wise card, or you believe your card is lost/stolen, you should freeze your card immediately . This way, you’ll avoid more fraud on your account.

Here are the steps to take to freeze your Wise Travel Card.

• After logging in to your Wise account, tap on “ Card .”
• Then simply click “ Freeze Card ”, or if you want to unfreeze, “ Unfreeze Card .”
• Fill out this transaction dispute form and contact customer support right away. They will be able to help you determine what to do next.

How to Replace a Lost or Stolen Wise Card

If you can confirm that your card has been lost or stolen, you’ll want to cancel the card and then order a new one.

• Log in to your Wise account and click on “ Card .”
• Tap “ Replace Card .”
• You’ll then be prompted to answer why you need a replacement card.
• Wait for the new card to arrive.

How to Use an ATM with Your Wise Travel Card

As mentioned above, ATM withdrawal is not the strongest feature with the Wise card, but you can definitely still use the card to take out cash. Spending with your Wise card is simple since the card can make contactless, chip, and swipe payments and is eligible for Google, Apple, Fitbit, and Garmin Pay. But how do you use an ATM with the Wise card?

Using an ATM with the Wise Travel Card is the same as using any other bank card. Simply insert your card into the machine, enter your PIN, determine how much cash you want to withdraw, and take your cash. Don’t forget to take your card back when you are done (I have made this mistake too many times…).

Wise Card ATM Limits

One of the biggest downsides with the Wise card is that you’ll have limited free ATM withdrawals. For all accounts, you’ll have 2 free ATM withdrawals each month, after which you will be charged an ATM usage fee and a percentage markup on the amount of cash you withdraw.

I use the Wise Travel Card for many of my day-to-day travel expenses, but I use my Charles Schwab Investor Checking account for ATMs. This card not only has a 0% ATM markup, but it also refunds any fees the ATM provider charges. This includes international withdrawals!

Wise Card Delivery Timeframe

Once you order your Wise Travel Card, you can expect it to take between 3 and 21 days to arrive, depending on your location. If you live in Singapore, you’ll get your card SUPER fast. Unfortunately for Americans like me, this isn’t the case.

Wise Travel Card Fees and Exchange Rates

One thing I really love is that using Wise itself is free, and you won’t have to pay an ongoing fee to Wise to use the card. In fact, there isn’t even a Premium account feature, so all users get 100% of the features for free. All this said, there are some charges and exchange rates you should know about before you start using the Wise Travel Card.

Comparison: How Does the Wise Card Holds Up Against Other Travel Cards?

Wise is a leader in the travel account realm, but it still has some major competitors. While all of these different companies vary, they all cater to digital nomads and frequent travelers. The table below will compare some key factors with Wise, Revolut, N26, and Chime.

You may also be interested in:

So, What Travel Card is the Best?

This is a close call and pretty dependent on where you are located. For example, N26 and Chime are awesome choices if you live in the EU or USA (respectively). But, with these options, you can’t hold different currencies like with Revolut and Wise.

For most digital nomads, Wise or Revolut will be the best option. You can hold a huge number of currencies, and they are available to many different nationalities. I have personally used both Wise and Revolut and can say they are both excellent options.

Spending Limits for the Wise Travel Card

The Wise Travel Card has set daily and monthly spending limits for all types of transactions. While these limits won’t be a deal breaker for the vast majority of users, they are still worth noting.

Keep in mind the above limits are for US Wise customers. The amounts will differ slightly for customers based in different regions.

Is It Safe to Use the Wise Travel Card?

Wise is a trusted and safe travel card provider, so you can rest assured that your funds will be protected when using the Wise Travel Card. A licensed and regulated financial institution, your funds are safeguarded in Wise. It is, however, worth noting that since Wise is not considered a bank, it is not FDIC insured. FDIC insures up to $250,000 of bank customer's money, but Wise works a bit differently. Wise safeguards users’ money and is required to ensure all customers have access to all of their funds.

So, is Wise safe to use? Yes, absolutely! We don’t recommend keeping all of your money in Wise, but in general, it is a perfectly secure financial institution.

Additionally, the company uses several security features to protect your data, including HTTPS encryption, a two-step login process, and 24/7 fraud prevention.

What to Do If Your Wise Card Is Lost, Stolen, or Compromised

If you lose your Wise card or suspect it to be stolen or compromised, you’ll need to act quickly to prevent any further fraud. Below, we will go over a step-by-step process for what to do if your card is lost, stolen, or compromised.

• Freeze your card in the Wise app.
• Contact Wise support if you suspect the card to be compromised.
• Cancel the card in the app if you confirm the card is lost or stolen or if fraud charges have been made.
• Order a new card.
• Wait for the new Wise card to arrive.

Bottom Line: Is the Wise Travel Card Worth it?

Time for the 1 million dollar question: Should you get the Wise Travel Card?

If you are a frequent traveler like me and you don’t already have a solid travel card with fair exchange rates, low ATM fees the answer is a resounding yes !

The Wise Travel Card is one of the best cards for digital nomads and expats, as it allows you to seamlessly spend money, withdraw cash, and transfer funds from anywhere around the globe without having to worry about excessive fees. The best part? After paying a one-time card order fee, your Wise account is completely free to use!

Ready To Save Money Abroad with Wise?

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Heymondo Review: Is It a Good Travel Insurance?

How to beat your post-travel depression: your guide to feeling better, how to create a healthy work-life balance while working remotely.

MASTERCARD BENEFIT INQUIRIES

Within the U.S.: 1-800-Mastercard (1-800-627-8372) | Outside the U.S.: Mastercard Global Service Phone Numbers

Availability of insurance benefits on your card may vary by card issuer. Please refer to your issuing financial institution for complete insurance benefit coverage terms, conditions and exclusions.

*Card registration required. Certain exceptions apply. Click here for terms and conditions .

†Requirements may vary. See card packaging for details or contact card issuer.

Here Are the Four Best Travel Money Cards in 2024

François Briod

Co-Founder of Monito and money transfer expert, François has been helping Monito’s users navigate the jungle of money transfer fees, bad exchange rates and tricks for the last ten years.

Jarrod Suda

A writer and editor at Monito, Jarrod is passionate about helping people apply today’s powerful finance technologies to their lives. He brings his background in international affairs and his experiences living in Japan to provide readers with comprehensive information that also acknowledges the local context.

Links on this page, including products and brands featured on ‘Sponsored’ content, may earn us an affiliate commission. This does not affect the opinions and recommendations of our editors.

From the multitude of bank fees and ATM charges to hidden currency conversion fees, there's no question that spending your money abroad while travelling can be costly — and that's saying nothing about the cost of the holiday itself!

As you prepare for your trip abroad, the golden rule is that you'll save the most money by using the local currency of your destination. This means withdrawing local cash at foreign ATMs and using a debit card to pay directly in the local currency. For example, if you're from the UK, using your bank's debit card that accesses your British pounds will likely lose you money to hidden fees at ATMs abroad and at local merchants.

In general, we rate Revolut as the best travel card all around. Its versatile account and card can be used to spend like a local pretty much anywhere in the world. ✨ Get 3 months of free Revolut Premium as a Monito reader with our exclusive link .

If you're from the EU, UK, or US, here are a few more specific recommendations to explore:

• Best for travelling from the UK: Chase
• Best for travelling from the US: Chime ®
• Best for travelling from the Eurozone: N26

If it's not possible for you to spend in the local currency when travelling abroad, then spending in your home currency while using a card that doesn't charge any hidden exchange rate markups from your bank (e.g. only the VISA or Mastercard exchange rates to convert currency) is still a good bet for most people.

In this guide, we explore cards that waive or lower ATM fees and that hold multiple currencies. Spend on your holiday like a local and enjoy peace of mind after each tap and swipe!

Best Travel Cards (And More!) at a Glance

Best travel money cards.

• 01. What is the best best multi currency card? scroll down
• 02. Are prepaid currency cards really it? scroll down
• 03. Monito's best travel money card tips scroll down
• 04. FAQ about the best travel cards scroll down

Revolut: Best All-Rounder

Revolut is one of the most well-known fintechs in the world because it offers services across Europe, the Americas, Asia, and Oceania.

• Trust & Credibility 8.9
• Service & Quality 7.9
• Fees & Exchange Rates 8.3
• Customer Satisfaction 9.4

Revolut is available in many countries. You can double-check if it's available in yours below:

Here's an overview of Revolut's plans:

Revolut Ultra is currently only available in the UK and EU.

Like Wise, Revolut converts your currency to the local currency of your travel destination at an excellent exchange rate (called the 'Revolut Rate', which, on weekdays, is basically on par with the rate you see on Google), making it a good way to buy foreign currency before travelling abroad. As always though, bear in mind that Revolut's exchange rates might be subject to change.

Revolut's Standard Plan only allows currency exchange at the base mid-market exchange rate for transfers worth £1,000 per month. ATM withdrawals are also free for the first €200 (although third-party providers may charge a withdrawal fee, and weekend surcharges may also apply). These allowances can be waived by upgrading memberships.

N26: Good Bank For EU Travellers

One of the most well-known neobanks in Europe, N26 and its debit card operate in euros only. However, N26 is a partner with Wise and has fully integrated Wise's technology so that you never have to pay foreign transaction fees on your purchases outside of the eurozone. While N26 does not have multi-currency functionality, N26 will apply the real exchange rate on all your foreign purchases and will never charge a commission fee — making N26's card a powerful card for EU/EEA residents who travel across the globe.

• Trust & Credibility 7.9
• Service & Quality 8.0
• Fees & Exchange Rates 9.3
• Customer Satisfaction 8.1

These are the countries in which you can register for an N26 account:

And here is an overview of the various plans and account:

This low-fee option for banking is also ideal for travellers who do not belong to a European bank but frequent the Eurozone. For example, N26 is available for residents and citizens of Switzerland, Norway, and other European Economic Area countries that do not run on the Euro.

These citizens, who are in close proximity to the Eurozone, will save each time they spend with an N26 card while in Europe. N26 provides three free ATM withdrawals per month in euros but does charge a 1.7% fee per ATM withdrawal outside of Europe.

Take a look at our guide to the best travel cards for Europe to learn more.

Wise: Best For Multi-Currency Balances

Load up to 54 currencies onto this card at the real exchange rate, giving you access to truly global travel.

• Trust & Credibility 9.3
• Service & Quality 8.9
• Fees & Exchange Rates 7.6
• Customer Satisfaction 9.6

These are the countries in which you can order a Wise debit card:

Unlike banks, credit unions, airport kiosks, and foreign ATMs, Wise is transparent about never charging a hidden exchange rate margin when you convert your home currency into up to 54 currencies. The live rate you see on Google or XE.com is the one you get with Wise.

An industry-low commission fee per transaction will range from 0.35% to 2.85%, depending on the currency.

Chase: Great UK Bank For Travel

A recent arrival from the USA, Chase is one of the UK’s newest digital challenger banks and comes with a rock-solid reputation and no monthly charges, no currency conversion charges, no withdrawal fees, and no other charges for everyday banking from Chase. It’s a simple, streamlined bank account with an excellent mobile banking app and a great cashback offer. However, it doesn’t yet offer more advanced features like international money transfers, joint accounts, business banking, overdrafts and loans, and teen or child accounts.

• Trust & Credibility 10
• Fees & Exchange Rates 10
• Customer Satisfaction 8.7

Chime: Great Account For US Travelers

Chime  is a good debit card for international travel thanks to its no foreign transaction fees¹. Unlike multi-currency accounts like Revolut (which let you hold local currency), Chime uses the live exchange rate applied by VISA. This rate is close to the mid-market rate, and Chime does not add any extra markup to your purchases, although out-of-network ATM withdrawal and over-the-counter advance fees may still apply.

• Trust & Credibility 9.5
• Service & Quality 8.8
• Fees & Exchange Rates 9.8

While Chime waives ATM fees at all MoneyPass, AllPoint, and VISA Plus Alliance ATMs within the United States, this fee waiver does not extend to withdrawals made outside the country. For withdrawals abroad, Chime applies a $2.50 fee per transaction, with a daily withdrawal limit of $515 or its equivalent. This is in addition to any fees charged by the ATM owner. Therefore, we recommend Chime primarily for card purchases rather than relying on it for withdrawing cash while traveling internationally.

• No  foreign transaction fees ¹;
• Uses VISA's exchange rate ( monitor here ):
• A $2.50 fee per ATM withdrawal made outside of the United States;
• More info:  Read our  Chime review  or  visit their website .

Best Travel Money Cards in 2024 Compared by Country

In the table below, see our comparison summary of the four best travel cards for 2024 by country:

Last updated: 8 January 2024

What's The Best Prepaid Card to Use Abroad?

Travel cards come in many varieties, such as standard credit cards or debit cards with no foreign transaction fees or cards that waive all foreign ATM withdrawal fees.

What is a Multi-Currency Card?

Multi-currency cards are a specific type of travel card that allows you to own all kinds of foreign currencies, which you can instantly access when you pay with your card abroad. By spending the local currency in the region of travel , you bypass poor foreign exchange rates. ATMs and cashless payment machines will treat your card like a local card.

We have already mentioned a few multi-currency cards in this review, but we will also introduce Travelex . Travelex's Money Card also allows you to top up several foreign currencies — albeit at exchange rates slightly poorer than the real mid-market rate .

Wise Account

Wise has one of the best multi-currency cards available on the market.

Read our full review for more details.

Revolut is impressive for its vast options in currencies and its additional services.

Our in-depth review explores Revolut's services in detail.

Travelex offers a prepaid travel money card that supports 10 currencies and waives all ATM withdrawal fees abroad.

• Trust & Credibility 9.0
• Service & Quality 5.8
• Fees & Exchange Rates 7.1
• Customer Satisfaction 9.3

Travelex charges fees, which fluctuate according to the exchange rates of the day, in order to convert your home currency into the currencies that it supports. But once the currency is on the card, you'll be able to spend like a local. Learn more with our full review .

Don’t Let Banks, Bureaux de Change, and ATMs Eat Your Lunch 🍕!

Are you withdrawing cash at an ATM in the streets of Paris? Exchanging currencies at Gatwick airport? Paying for a pizza with your card during a holiday in Milano? Every time you exchange currencies, you could lose between 2% to 20% of your money in  hidden fees . Keep reading below to make sure you recognize and avoid them.

Currency Exchange Fees Eating My Lunch? What’s That?

You’re often charged a hidden fee in the form of an alarming exchange rate.

At any given time, there is a so-called “ mid-market exchange rate ” — this is the real exchange rate you can see on  Google . However, the money transfer provider or bank you use to exchange currencies rarely offers this exchange rate. Instead, you will get a much worse exchange rate. They pocket this margin between the actual rate and the poor exchange rate they apply, allowing the bank or money transfer provider to profit from the currency exchange. 

In other words, you or your recipient will receive less foreign currency for each unit of currency you exchange. All the while, the provider will claim that they charge zero commission or zero fees.

So the question now is… how can you avoid them? Thankfully, the best travel money cards will allow you to hold the local currency, which you can access instantly with a tap or swipe. Carrying the local currency avoids  exchange rate margins  on every purchase.

Top Travel Money Tips

• Avoid bureaux de change. They charge between 2.15% and 16.6% of the money exchanged.
• Always pay in the local currency and never accept the  dynamic currency conversion .
• Don't use your ordinary debit or credit card unless it's specifically geared toward international use. Doing this will typically cost you between 1.75% and 4.25% per transaction. Instead, use one of the innovative travel money cards below.

By opting for a travel card without FX fees, you can freely swipe your card abroad without worrying about additional charges. However, saving money doesn't stop there. To make the most out of your travel budget, consider using  Skyscanner , one of the most powerful flight search engines available that allows you to compare prices from various airlines and find the best deals.

With Skyscanner's user-friendly interface and comprehensive search options, you can discover cheap flights and enjoy your holidays with peace of mind and more money in your pocket.

Best Travel Money Card Tips

When you convert your home currency into a foreign currency, foreign exchange service providers will charge you two kinds of fees :

• Exchange Rate Margin:  Providers apply an exchange rate that is poorer than the true  "mid-market" exchange rate . They keep the difference, called an  exchange rate margin .
• Commission Fee:  This  fee  is usually a percentage of the amount converted, which is charged for the service provided.

With these facts in mind, let's see what practices are useful to avoid ATM fees, foreign transaction fees, and other charges you may encounter while on your travels.

Tip 1: While Traveling, Avoid Bureaux de Change At All Costs

Have you ever wondered how bureaux de change and currency exchange desks are able to secure prime real estate in tourist locations like the Champs-Élysées in Paris or Covent Carden in London while claiming to take no commission? It’s easy: they make (plenty of) money through hidden fees on the exchange rates they give you. 

Our study shows that Bureaux de Change in Paris charges a margin ranging from 2.15% at CEN Change Dollar Boulevard de Strasbourg to 16.6% (!!) at Travelex Champs-Élysées when exchanging 500 US dollars into euros for example. 

If you really want cash and can’t wait to withdraw it with a card at an ATM at your destination, ordering currencies online before your trip is usually cheaper than exchanging currencies at a bureau de change, but it’s still a very expensive way to get foreign currency which we, therefore, would not recommend.

Tip 2: Always Choose To Pay In the Local Currency

Don’t fall for the dynamic currency conversion trap! When using your card abroad to pay at a terminal or withdraw cash at an ATM, you’ve probably been asked whether you’d prefer to pay in your home currency instead of the local currency of the foreign country. This little trick is called dynamic currency conversion , and the right answer to this sneaky question will help you save big on currency exchange fees.

As a general rule, you always want to pay in the local currency (euros in Europe, sterling in the UK, kroner in Denmark, bahts in Thailand, etc.) when using your card abroad, instead of accepting the currency exchange and paying in your home currency. 

This seems like a trick question - why not opt to pay in your home currency? On the plus side, you would know exactly what amount you would be paying in your home currency instead of accepting the unknown exchange rate determined by your card issuer a few days later.

What is a Dynamic Currency Conversion?

However, when choosing to pay in your home currency instead of the local one, you will carry out what’s called a “dynamic currency conversion”. This is just a complicated way of saying that you’re exchanging between the foreign currency and your home currency at the exact time you use your card to pay or withdraw cash in a foreign currency, and not a few days later. For this privilege, the local payment terminal or ATM will apply an exchange rate that is often significantly worse than even a traditional bank’s exchange rate (we’ve seen margins of up to 8%!), and of course, much worse than the exchange rate you would get by using an innovative multi-currency card (see tip #3). 

In the vast majority of times, knowing with complete certainty what amount you will pay in your home currency is not worth the additional steep cost of the dynamic currency conversion, hence why we recommend always choosing to pay in the local currency.

Tip 3: Don't Use a Traditional Card To Pay in Foreign Currency/Withdraw Cash Abroad

As mentioned before, providers make money on foreign currency conversions by charging poor exchange rates — and pocketing the difference between that and the true mid-market rate. They also make money by charging commission fees, which can either come as flat fees or as a percentage of the transaction.

Have a look at traditional bank cards to see how much you can be charged in fees for spending or withdrawing $500 while on your holiday.

These fees can very quickly add up. For example, take a couple and a child travelling to the US on a two-week mid-range holiday. According to this study , the total cost of their holiday would amount to around $4200. If you withdraw $200 in cash four times and spend the rest with your card, you would pay $123 in hidden currency exchange and ATM withdrawal fees with HSBC or $110 with La Banque Postale. With this money, our travellers could pay for a nice dinner, the entrance fee to Yosemite Park, or many other priceless memories. 

Thankfully, new innovative multi-currency cards will help you save a lot of money while travelling. Opening an N26 Classic account and using the N26 card during the same US holidays would only cost $13.60.

Need Foreign Cash Anyway?

In many countries, carrying a wad of banknotes is not only useful but necessary to pay your way since not every shop, market stall, or street vendor will accept card payments. In these cases you'll have two options to exchange foreign currency cheaply:

1. Withraw at an ATM

As we've explored in great depth in this article, withdrawing money from a foreign ATM will almost always come with fees — at the very least from the ATM itself, and so it's therefore the best strategy to use a travel debit card that doesn't charge in specific ATM withdraw fees on its own to add insult to injury. That said, if you need cash, we recommend making one large withdrawal rather than multiple smaller ones . This way, you'll be able to dodge the fees being incurred multiple times.

2. Buy Banknotes (at a Reasonable Rate!)

As we've also seen, buying foreign currency at the airport, at foreign bank branches, or in bureaux de change in tourist hotspots can be surprisingly expensive. Still, not all exchange offices are equally pricey . If you're looking for a well-priced way to exchange your cash into foreign currency banknotes before you travel, Change Group will let you order foreign currency online and pick them up at the airport, train station, or a Change Group branch just before you leave for your holiday. A few pick-up locations in the UK include:

• London centre (multiple locations),
• Glasgow centre,
• Oxford centre,
• Luton Airport,
• Gatwick Airport,
• St. Pancras Station.

(Note that Change Group also has locations in the USA, Australia, Germany, Spain, Sweden, Austria, and Finland!)

Although its exchange rates aren't quite as good as using a low-fee debit card like Revolut, Change Group's exchange rates between popular currencies tend to be between 2% to 3%, which is still a lot better than you'll get at the bank or at a touristy bureau de change in the middle or Paris or Prague!

FAQ About the Best Travel Money Cards

Having reviewed and compared several of the industry's leading neobanks, experts at Monito have found the Wise Account to offer the best multi-currency card in 2024.

In general, yes! You can get a much better deal with new innovative travel cards than traditional banks' debit/credit cards. However, not all cards are made equal, so make sure to compare the fees to withdraw cash abroad, the exchange rates and monthly fees to make sure you're getting the best deal possible.

• Sign up for a multi-currency account;
• Link your bank to the account and add your home currency;
• Convert amount to the local currency of holiday destination ( Wise and Revolut convert at the actual mid-market rate);
• Tap and swipe like a local when you pay at vendors.

Yes, the Wise Multi-Currency Card is uniquely worthwhile because it actually converts your home currency into foreign currency at the real mid-market exchange rate . Wise charges a transparent and industry-low commission fee for the service instead.

More traditional currency cards like the Travelex Money Card are good alternatives, but they will apply an exchange rate that is weaker than the mid-market rate.

The Wise Multi-Currency Card is the best money card for euros because unlike banks, credit unions, airport kiosks, and foreign ATMs,  Wise  is transparent about never charging a hidden exchange rate margin when you convert your local currency into euros with them.

The live rate you see on Google or XE.com is the one you get with  Wise . An industry-low commission fee will range from 0.35% to 2.85%. USD to EUR transfers generally incur a 1.6% fee.

Learn more about how to buy euros in the United States before your trip.

There are usually three types of travel cards, prepaid travel cards, debit travel cards and credit travel cards. Each have pros and cons, here's a short summary:

• Prepaid travel cards: You usually need to load cards with your home currency via a bank wire or credit/debit card top-up. You're then able to manage the balance from an attached mobile app and can use it to pay in foreign currencies or withdraw cash at an ATM abroad tapping into your home currency prepaid balance. With prepaid travel cards, as the name indicates, you can't spend more than what you've loaded before hand. Some prepaid card providers will provide ways to "auto top-up" when your balance reaches a certain level that you can customize. On Revolut for example, you can decide to top-up £100/£200/£500 from your debit card each time your balance reaches below £50.
• Debit travel cards: Some innovative digital banks, like N26 or Monzo, offer travel debit cards that have the same advantages than a Prepaid Travel Cards, except that they're debit card directly tapping into your current account balance. Like a Prepaid travel card, you can't spend more than the balance you have in your current account with N26 or Monzo, but you can activate an overdraft (between €1,000 or €10,000 for N26 or £1,000 for Monzo) if you need it, for a fee though.

Note that even if they're Prepaid or Debit cards, you can use them for Internet payments like a normal credit card.

• Credit travel cards: You can find credit cards made for international payments offering good exchange rates and low fees to withdraw money abroad, but you'll need to pay interests in your international payment if you don't pay in FULL at the end of every month and interest on your ATM withdrawals each day until you pay them back.

Why You Can Trust Monito

Our recommendations are built on rock-solid experience.

• We've reviewed 70+ digital finance apps and online banks
• We've made 100's of card transactions
• Our writers have been testing providers since 2013

Other Monito Guides and Reviews on Top Multi Currency Cards

Why Trust Monito?

You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe. Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.

Monito is trusted by 15+ million users across the globe.

Monito's experts spend hours researching and testing services so that you don't have to.

Our recommendations are always unbiased and independent.

Best Multi-Currency Accounts: Top Personal & Business Accounts for 2024

Ever found yourself out of pocket because of high currency conversion fees or volatile exchange rates most banks offer? If this happens to you, then you could benefit from a multi-currency account.

Maybe you’re a frequent traveler or doing business across borders . Either way, you can save money by holding foreign currencies until you need them or the exchange rate improves.

We believe Wise has the best multi-currency account . This is because it offers market-beating exchange rates, free ATM withdrawals, and even pays interest.

Discover below what else Wise offers and which other providers made the cut as the best multi-currency accounts in the US!

Top Multi-currency Bank Accounts - Our Recommendation

Best multi-currency accounts reviewed & compared.

Wise: Best Overall

Revolut: Best for Travellers

Payoneer: Best for Freelancers

HSBC Global Money: Best for Traditional Banking Services

OFX: Best Business Account for Customer Service

Airwallex: Best for Businesses Accepting Payments

There’s a reason Wise is king when it comes to converting currencies—it doesn’t add any markup to the mid-market exchange rate . In fact, in most cases, you’ll struggle to find a better exchange rate anywhere else.

The fees are another boon. It’s completely free to open an account , hold over 40 currencies, and add and receive money. The currency conversion fee is affordable. Some competitors like Revolut may offer slightly cheaper currency conversions in many cases. But Wise still wins out for converting large amounts (or small amounts of certain currencies).

Wise’s new Interest feature means you can earn daily returns on your GBP, USD, and EUR at seriously attractive annual rates (4.7%, 5.1%, and 3.65%, respectively). You can still send or spend these funds at any time.

Talking of spending, the Wise debit card lets you spend like a local when abroad. ATM withdrawals are free up to $100 , though after that there’s a 2% fee. You can use a digital card, and for peace of mind, you’ll get spending notifications, with the ability to instantly freeze and unfreeze your card in the app. The one downside is that the physical card costs $9.

• Take advantage of the best exchange rates on the market
• Send and spend over 40 currencies
• Earn attractive interest rates on GBP, USD, & EUR
• Wide range of business features, too
• Getting hold of the debit card will cost you $9
• There’s no FDIC protection
• No facility for overdrafts or loans
• You can only receive money in 9 currencies

If you’ve caught the wanderlust bug, a Revolut account could be your perfect sidekick for international adventures. You can book millions of holiday properties and activities through the Revolut app and pay later. And the best part? Revolut offers up to 10% cashback .

You can pay like a local on your trips with the Revolut card in 29+ currencies . This might be fewer than Wise, but it’s still a decent range. Just make sure to plan ahead if you want to enjoy free currency exchange—Revolut adds a mark-up at weekends .

There are a host of other travel benefits, such as airport lounge access . Revolut also provides insurance for a variety of circumstances. This includes trip cancellation, global medical care, trip delay, and lost luggage. Be advised, though, that you won’t get these perks on the free plan—you’ll need to pay for Premium or Metal.

With so many features, Revolut can help you at every stage. Set money aside for a big trip with budgeting tools. Grow it faster with a savings Vault . Send money to your fellow travelers for free if they have Revolut. And easily split the bill for shared holiday expenses.

• Get cashback on Stays & Experiences
• Access to 1400+ lounges worldwide
• Exchange $1k per month for free Mon - Fri
• Competitive interest rates on GBP, USD, & EUR
• Exchange rate markups at weekends
• The best perks and rates come with a monthly fee
• Fewer currencies than Wise

If you want to grow your business , a Payoneer multi-currency account can help you reach new markets. You’ll be able to set up local receiving accounts to get paid like a local in GBP, USD, EUR, JPY, AUD, CAD, SGD, HKD, and AED.

You can do what you like with these funds. Hold onto foreign currencies, convert to over 70 currencies , withdraw funds locally, or pay VAT and sellers’ fees for free. If you want to use them to make business payments, it’s free if the recipient has Payoneer. You can even save time with batch payments .

Payoneer is already connected to 2,000 marketplaces, platforms, and networks around the world. This makes it seamless to get paid by Amazon, eBay, Fiverr, Upwork, Airbnb, and many more. You can even accept card payments on your personal website with no conversion fees for USD and EUR .

There are tools for invoicing, billing, scheduling, tracking, reporting, and much more. Payoneer even offers a capital advance to help your business grow.

• Pay VAT for free
• Can be integrated with accounting software
• Capital advances are available
• Seamlessly connect with marketplaces
• Receiving accounts are only available in 9 currencies
• There’s a fee for inactivity
• No free ATM withdrawals

Not everyone is comfortable using new challenger banks and FX services. If that’s the case, you might want to look to HSBC for a full-service bank account. A major benefit is that your balance will be insured by the Federal Deposit Insurance Corporation (FDIC).

With the HSBC Global Money Account, you can hold up to 8 currencies and send money in 19 currencies with a daily limit of $50,000 . There are no fees for sending money abroad, but HSBC adds a margin to the exchange rate.

A downside of the HSBC Global Money Account is that the application process is a bit involved if you’re not already an HSBC customer. Before you can apply for a Global Money Account, you’ll first need to apply for an HSBC Premier checking or savings account, which have somewhat exclusive eligibility criteria. This is in contrast to Wise and Revolut where anyone can open an account in minutes.

This downside also has an upside, though. As an HSBC customer, you’ll get access to a range of other services that you won’t get with other multi-currency accounts. This includes a variety of savings accounts , investment products, financial advice, insurance, and borrowing facilities such as credit cards , loans , and mortgages .

• Insured by FDIC
• Access to other banking services - savings, loans, etc
• Send up to $50k/day internationally
• Fewer currencies than competitors
• Only available if you have an HSBC Premier account
• HSBC applies an exchange rate markup
• No multi-currency debit card offered

The OFX Global Currency Account makes it simple to do business in multiple currencies. You’ll get account details for receiving payments in 7 currencies, and you can exchange to over 50 currencies .

OFX offers a professional and accessible service. If you’re undecided, you can request a demo of the Global Currency Account, and OFX’s expert support is only a phone call away 24/7.

There are plenty of features to streamline your business operations and save you money. Paying taxes and suppliers with your virtual accounts will save you money on currency conversion. You can even set up exchange rate alerts to make sure you convert at favorable rates.

You can also benefit from mass payments and payment gateway connections. Meanwhile, a Xero integration will simplify your invoicing and accounting.

There are no set-up, maintenance, or receiving fees with OFX, but making transfers involves an exchange rate mark-up and varying fees.

• Integrated with Xero
• Mass payments of up to 500 at once
• You can set up rate alerts
• 24/7 phone support
• Exchange rate markup plus fee for transfers
• Provides fewer currency accounts than Payoneer
• No debit card available
• No FDIC insurance

The Airwallex Global Account lets you instantly create local currency accounts in 12 currencies . This is more receiving accounts than you’d get with Payoneer, but Airwallex supports fewer currencies for sending money .

It’s easy and secure to accept payments worldwide with Airwallex. You can create a shareable payment link or integrate with popular eCommerce platforms .

The Airwallex payments API means you can accept more than 160 payment methods from over 180 countries. There’s built-in fraud prevention to reduce chargebacks and you can lock in exchange rates for up to 72 hours to minimize FX risk. Other benefits include optimization to boost conversion rates and the ability to save customer payment details .

Making payments is also a breeze with Airwallex. There are no transaction limits or hidden fees. Automate your workflow by batching up to 1,000 transfers and integrating with accounting software.

You can even spend the funds in your multi-currency account with company cards. They come with a 0% foreign card transaction fee and let you easily track and control expenses from the app.

• More receiving accounts than Payoneer or OFX
• Integrated with 160+ payment methods
• No transaction limits
• Batch transfers to up to 1,000 recipients
• Supports fewer currencies than Payoneer or OFX for sending money
• May be a bit complicated for most freelancers
• The verification process isn’t the quickest

How We Rate & Review the Multi-Currency Accounts

When choosing which multi-currency accounts to include on this list, we considered a variety of aspects that impact how useful and affordable the accounts are for users. Some of the most important considerations were:

Currency coverage: We checked how many currencies were supported by each account. This included the range available for local currency-receiving accounts, as well as how many currencies users can convert to.

Exchange rates: If you need to make currency conversions, you don’t want to lose money on exchange rates. We looked for multi-currency accounts with competitive rates.

Fees: Costs such as conversion fees, subscription fees, and card issuance fees can quickly eat into your or your business’ funds. We looked for multi-currency accounts that keep fees to a minimum.

Extra features: Whether you need a personal or a business account, it’s really useful to find one that goes beyond the basics. We selected foreign currency accounts that offer extras such as interest, cashback, airport lounge access, company cards, accounting software integration, and more.

What Is a Multi-Currency Account?

At a basic level, a multi-currency account is simply an account with a bank or financial services provider where you can hold more than one currency.

Being able to receive and send foreign currencies without having to exchange them for USD in between will save you money on conversion fees and exchange rates. This is why multi-currency accounts can be particularly useful for frequent travelers and businesses with links abroad.

How Does a Multi-Currency Account Work?

Let’s drill down into how the inner workings of a multi-currency account differ from other accounts.

Multi-currency account providers have links with local banks around the world. This means you can have foreign currency accounts that work just like if you lived there. So you could have a EUR account with your own IBAN code , or a GBP account with the necessary details to receive Faster Payments.

Imagine you have a friend or customer in France who sends you €100. With a regular bank account, this would be converted to USD at the current exchange rate, plus a markup and a conversion fee.

That might not be a huge deal if you never use euros. But what if you’re planning to take a trip to France? Or maybe you need to pay a German supplier? In that case, it would be better to keep the €100 in EUR so that when you later need to spend EUR, you don’t waste time and money on unnecessary currency conversions.

A multi-currency account is a place to hold your EUR and other foreign currencies until you need them. You’ll have separate balances for different currencies that you can easily view and manage from your app or computer.

What Can You Do With a Multi-currency Bank Account?

As well as holding foreign currencies, a multi-currency account will typically enable you to do other things, such as:

Make international payments: You’ll be able to send your currencies worldwide much cheaper than with a regular bank account. Business multi-currency accounts will even let you make batch payments.

Receive international payments: Having your own foreign currency account details means you can get paid like a local. Business multi-currency accounts can also integrate with payment methods like PayPal or platforms like eBay.

Deposit and withdraw: Just like any other bank account, you’ll be able to add money to it and withdraw it through accepted payment methods. The difference is that you can deposit and withdraw multiple currencies.

Spend with a multi-currency debit card: Many multi-currency accounts (OFX and HSBC excluded) come with a debit card to withdraw and spend foreign currencies like a local when abroad.

Convert currencies: Multi-currency accounts enable you to convert between currencies whenever you want. They typically offer better exchange rates and fees than regular banks.

Multi-currency accounts may offer some useful features, but there are other functionalities that they typically lack . For example:

Interest: Most multi-currency accounts won’t pay you interest, meaning they’re not great for savers. However, Wise and Revolut are exceptions that will pay users interest on GBP, USD, and EUR.

Overdrafts: Most multi-currency accounts aren’t provided by banks, which means they’re not licensed to provide overdrafts. A notable exception is HSBC, which requires you to have a checking account or savings account as well as a multi-currency account, meaning you’ll have access to traditional banking services like an overdraft.

Credit cards: Although most multi-currency accounts come with a debit card, most don’t have a banking license so can’t offer credit cards . However, HSBC users can apply for a credit card.

Pros and Cons of a Multi-currency Account

• Better exchange rates than banks
• Save on currency conversion costs
• Spend like a local when you’re abroad
• Unlikely to provide access to credit cards, loans, or overdrafts
• Most aren’t insured by the FDIC
• Many don’t offer interest for savings

Who Is Qualified for a Multi-Currency Account?

To open a foreign currency account online, you’ll usually need to be at least 18 years old and have a photo ID in order to verify your identity.

The exact eligibility criteria can vary by provider. For example, to be eligible for an HSBC Global Money Account, you’ll need to already have an HSBC Premier Checking account, Premier Savings, or Premier Relationship savings. These accounts, in turn, require a balance of $75,000, monthly deposits of $5,000, or a mortgage of $500,000.

As for business accounts, again, it depends on the provider. Payoneer serves freelancers as well as businesses, while the others are more aimed at businesses.

What Fees Are Associated With a Multi-Currency Account?

The fees charged can vary greatly between different accounts. Some might charge you a monthly or annual fee while others don’t. Some may charge every time you make a transfer while others don’t. Here are the most common fees you’ll encounter.

Account Management Fees

This is a fee that you pay at regular intervals simply for having a multi-currency account. Plenty of multi-currency accounts won’t charge you this fee—Wise, HSBC, and OFX, for example.

Other multi-currency accounts may charge you each month or each year. With Revolut, unless you opt for the free Standard plan you’ll pay a monthly fee with tiered pricing. Meanwhile, Payoneer will charge you an annual fee, but only if you have a card or are inactive for a year.

Currency Conversion Fees

You’ll pay foreign transaction fees when you make a transfer between currencies. The form it takes varies from one account to another. For example, OFX charges a flat fee while Airwallex charges a percentage fee and other accounts may base the fee on volume.

Wise, on the other hand, charges both a flat and percentage fee, while HSBC doesn’t charge a fee at all. You should bear in mind that providers which don’t charge a currency conversion fee may not be the cheapest option as they may well add a markup to the exchange rate.

Card Issuance Fee

Most multi-currency accounts provide a debit card or multiple company cards, but they will likely charge you for this. An exception is Airwallex, which provides company and employee cards for free.

However, Wise charges $9 for card issuance, and Revolut doesn’t charge for the card itself but may charge you for posting it.

You may need to pay an additional charge to replace a lost or stolen card.

ATM Withdrawal Fee

Withdrawing cash with your multi-currency debit card may be free up to a limit, but after that, you’re likely to incur a charge. Wise and Revolut Standard let you withdraw up to $100 and $400 a month for free, respectively. After that, they charge a 2% fee.

Other accounts may not offer free withdrawals at all. For example, Payoneer charges $3.15 per ATM withdrawal.

Who Can Benefit from Opening a Multi-Currency Account?

Anyone who regularly needs to deal with foreign currencies could benefit from having a multi-currency account. For example:

Frequent travelers: If you spend lots of time abroad, you might want to hold onto your foreign currencies between travels or until the exchange rate is in your favor.

Expatriates: You might need to send and receive money from your family in another country. This is easier and cheaper when you have an account to hold the currency of that country.

Freelancers with foreign customers: If you have clients or customers abroad, you might want to be able to receive payments in their local currency. This gives you the freedom to hold the funds until the exchange rate improves.

Businesses with global operations: With customers, suppliers, and tax obligations in multiple countries, it makes a lot of sense to have an account that can deal in multiple currencies.

When to Choose a Multi-Currency Account

You should opt for a multi-currency account if you need to make significant and/or frequent transactions in foreign currencies. In this case, you’ll be able to save a lot of money by avoiding currency conversions or holding currencies until the exchange rate improves.

It could be a good choice for frequent travelers or global businesses as they’ll be dealing with large amounts of money and/or transacting regularly, so the potential savings are significant.

When Not to Choose a Multi-Currency Account

On the flip side, there’s no point in getting a multi-currency account if you don’t deal with foreign currencies. If you just want to make a one-off international transfer, it’s probably not worth it. If you’re planning a holiday abroad, a multi-currency account could save you money, but you should compare it with your bank account and decide whether the potential cost savings are worth the effort.

Managing Your Multi-Currency Account

Most multi-currency accounts come with a user-friendly app or web platform, which should make managing them reasonably easy. You can log into your account to see your balances in the currencies you hold and initiate transfers. Here are a few tips to help you manage your account wisely and cost-effectively.

Monitoring exchange rates

If you need to convert between currencies, you could save money by finding a favorable exchange rate. Checking rates regularly could help you find the cheapest opportunity to convert.

Depending on which multi-currency account you opt for, there may be other features you can take advantage of. For example, OFX lets you set up rate alerts so you’ll be notified when the exchange rate hits your target.

Set up notifications

Notifications may be enabled automatically, but it could be worth turning them on if they’re not. Spending alerts could help you see if you’re running out of money or if your card has been used fraudulently.

If your business issues company or employee cards, spending notifications could give you more transparency and control over expenses.

If your multi-currency account enables you to set limits, this could be a beneficial thing to do. Giving yourself spending limits could help you avoid running out of money on holiday.

Meanwhile, businesses can set limits for employee cards to avoid unexpected expenses.

Use integrations

Your multi-currency account might come with integrations to websites and software, which can be especially useful for freelancers and businesses. For example, OFX can be integrated with Xero to make invoicing and accounting easier.

Batch payments

If you need to send multiple payments at regular intervals—say you need to pay lots of employees or suppliers—it could be pretty time-consuming to send all the payments individually. Instead, you can take advantage of the batch payments feature offered by business multi-currency accounts.

Opening a Multi-Currency Account With a Traditional Bank vs Fintechs

Many fintechs have sprung up, aiming to rival traditional banks with efficient and innovative services. But are they a better choice for multi-currency accounts? Well, this really depends on your priorities. Some of the key differences are outlined below.

How To Choose The Best Multi-Currency Account In 2024

Which multi-currency account is best will depend on what’s most important to you. To help you find the right fit, here are some of the essential aspects you’ll need to consider.

Currencies Available

This one could be pretty key. If you’re opening a multi-currency account because, say, you want to transact with family in Mexico , then you’ll need to choose an account that supports pesos, which may rule out a few.

Or if you need a business account that will enable you to expand globally, you might opt for the one with the biggest range of currencies. However, if you only deal in major currencies, this consideration won’t be your top priority.

We’d all like to save money when we can. To work out which multi-currency account will save you the most on fees, you’ll need to compare the different types of fees. Some will charge you a fee for every transfer, while others might charge a monthly or annual fee. You could also be charged for other things like physical card issuance and ATM withdrawals.

Think about exactly what you’ll be doing with your multi-currency account and which fees might apply. Perhaps you just want to receive the occasional transfer. In this case, a monthly fee would be a waste of your money, but you wouldn’t be impacted by a card issuance or ATM fee.

On the other hand, if you’re going to be using lots of features on a regular basis, it would probably be cheaper to just pay a monthly or annual fee than to pay a fee for each individual action you take.

Exchange Rates

You’ll find that different multi-currency accounts offer different exchange rates. This is something you should check if you want to avoid losing money on currency conversions. Some providers will add a markup to the mid-market exchange rate.

You’ll need to take the currency conversion fee into account as well to work out which provider is the cheapest. Some may charge a fee but use mid-market rates, while others may offer fee-free conversions but add a markup to the exchange rate.

Another thing to look for is features that will help you get better exchange rates, such as rate alerts and forward contracts.

Your multi-currency account should be easy and enjoyable to use. If you’re not very tech-savvy, this might mean choosing a simple multi-currency account without all the bells and whistles. Or if you manage all your finances from your mobile, you’ll need to choose an account with a fully functional and smooth mobile app .

Extra Features

Think about what else you’d like to do with your multi-currency account. If you want to meet all your banking needs under one roof (savings, investments, borrowing), then you’ll need to opt for a traditional full-service bank account.

But maybe you already have a bank account and you want a separate multi-currency account to provide you with travel perks, in which case you should consider Revolut. Or if you’re a freelancer who wants to connect to eBay, pay seller’s fees, and invoice, schedule, and track payments, then Payoneer could provide the extra features you need.

The speed at which transfers are completed can vary from one multi-currency account to the next depending on the transfer methods they use and which payment networks they’re integrated with.

If you need to make transfers quickly, look for providers that offer instant or same-day transfers. One thing to bear in mind though: faster transfers could cost you more.

Naturally, where money is concerned, you want to be sure that it’s in safe hands. All the multi-currency accounts on this page are regulated by organizations such as FinCEN or FINRA, but the security features they offer may vary.

For example, banks are insured by the Federal Deposit Insurance Corporation, meaning your funds are protected up to $250,000. Fintechs often aren’t FDIC-insured but will take other steps to protect your money.

Other useful safety features to check for include 2-factor authentication, fraud monitoring, and spending notifications.

How To Apply for a Multi-Currency Account in the US

The exact process could vary for different multi-currency accounts. But here’s a general outline.

Step 1: Choose a multi-currency account

Choose the personal or business multi-currency account that best suits your needs. Our top choice is Wise, but you can find links to our other choices at the top of this page.

Step 2: Sign up

Create an account by providing your email address and password. You may be required to give some other information, such as your contact details, location, and date of birth.

Step 3: Verify your identity

You’ll need to prove your identity before you can start using the account. This can often be done in a matter of minutes through your phone by taking a photo of your passport and yourself. If you’re opening a new account with a bank, it could take longer if you need to send them your documents or take them to a branch.

Step 4: Add money

You’ll be able to fund your account in a variety of currencies. Just select your preferred currency and payment method and follow the instructions.

Step 5: Start using your account

Now, your account is ready to use as you like. You can convert to other currencies, hold foreign currencies, give out local bank details to receive payments, or take advantage of any of the other features on offer.

Is it Possible to Open a Multi-Currency Account in the US?

Absolutely! All the providers reviewed on this page will enable you to open an account and hold foreign currencies in the US.

Which Bank Is Free for International Transfers?

The HSBC Global Money Account won’t charge you a fee for international transfers. But be warned: the markup added to the exchange rate means you won’t necessarily get the best deal with HSBC.

How Do I Open a Foreign Currency Account?

Click on a link to any of the providers at the top of this page. You’ll just need to fill in some personal details and verify your identity in order to open an account.

What are digital multicurrency bank accounts?

Digital multi-currency bank accounts let you hold more than one currency at once. They have a website or app that allows you to manage your accounts digitally rather than needing to phone up or visit a branch.

Which bank is best for multi-currency accounts?

If you want a traditional bank, HSBC is probably the best option as it offers a good range of currencies and other useful services like savings and borrowing.

Related Content

Contributors

Alice Leetham

Idil Woodall

Wise Travel Card Review: The Multi-Currency Debit Card For Travellers

By: Author Angela Price

Posted on Last updated: March 26, 2024

The Wise Travel Card is a Visa Debit card designed for international travellers and individuals who frequently make multi currency transactions. I was first introduced to the Wise card by another travel blogger who had been using it for a few years and could vouch for its credibility.

At the time, I was looking for a money transfer account that would allow different currencies to be paid into it without incurring the hefty conversion fees my high street bank was charging me. I also wanted an easy-to-use, app-based money card that I could use during my travels to check, top-up and convert balances whenever needed.

The Wise Travel Money Card sounded perfect because it would allow me to have one debit card holding credit balances in USD, EUR, and GBP, all in separate currency wallets. I could then use my Wise Euro credit balance to buy items charged in Euros and likewise for USD. My transactions would be like-for-like, with no hefty currency conversion fees appearing on a statement.

I could also exchange one currency wallet balance for another at any time via the Wise App. The app is easy to use, and with a press of a button, I can auto-convert my USD or EUR balances for GBP, which appear in my online GBP currency wallet immediately. Simple!

Wise also allows me to send, add, or request money at any time and even set up direct debits through the app.

In the time I have been using my Wise Travel Card, I have been very pleased with its functionality and am happy to let other travellers (and non-travellers) know about it. For transparency, please see the Wise Card Fees and Pricing.

This travel guide may contain affiliate links – please read my  disclaimer and privacy policy for more information.

Table of Contents

What Is The Benefit Of Using Wise?

• The Wise Debit Visa is linked to a Wise multi-currency account, allowing you to manage money in multiple currencies.
• One of the key features of Wise is its use of the real exchange rate, providing users with rates close to the mid-market rate without additional markups. This can result in cost savings compared to traditional banks.
• The card offers interest on your multi-currency balances, which is great if you don’t intend to withdraw your funds immediately.
• Wise typically offers transparent and competitive fees for international money transactions and currency conversions. Users may benefit from lower fees compared to traditional banks.
• The card supports contactless payments, allowing for quick and convenient transactions at merchants that accept contactless payments.
• The Wise Debit Card is a Visa, which means it’s an international debit card widely accepted globally. Users can use the card for online, in-person, and ATM withdrawals worldwide. It’s all you need in one card.
• Wise provides a mobile app that allows users to manage their multi-currency accounts, monitor transactions, and receive notifications. The Wise app also features such as spending analytics and budgeting tools.
• The card can be used to withdraw cash from ATMs around the world. Wise has partnerships with specific ATMs to offer fee-free or reduced-fee withdrawals up to a specific limit.
• Visa provides standard security features, and Wise offers additional security measures through its app, such as the ability to lock/unlock the card and receive instant transaction notifications.
• Users can activate and manage their Wise Debit Visa through the Wise mobile app.

Wise Card For International Travel

I recently used my Wise travel card while on holiday in Lanzarote, Spain . I paid for entrance fees and food and drink in Euros, which was debited from the Euro currency wallet in my Wise account. The debit card was so easy to use, and I knew I wasn’t going to be charged any additional fees as the transaction was made in EUR rather than being converted from GBP.

I also just purchased a flight online and paid in USD. This came from my Wise USD currency wallet, which was straightforward with no added foreign transaction fees.

How To Get Your Wise Card

I hope this post has helped outline the benefits of getting a Wise Travel Card. The details I have provided are a brief overview, so please visit the official Wise website for more in-depth details before signing up.

You can access a digital card in your app as soon as Wise accepts your application, but if you prefer a physical card like me, you can apply for one below.

The physical Wise card costs a one-off fee of £7. And yes, the card really is the same colour as Kermit the Frog from The Muppet Show!

APPLY FOR YOUR WISE TRAVEL DEBIT CARD

I am not a financial expert, nor did Wise pay me to write this article; however, I am now part of their affiliate scheme, and I will receive a small commission if you sign up through my link. This is at no extra cost to you and helps me keep this travel blog running.

The opinions in this review are based entirely on my own experiences using my Wise Debit Card. Before you sign up for a Wise Card, please be sure to do your own due diligence.

 I would like to receive occasional updates and new travel posts.

Notify me of follow-up comments by email.

Travel money card

Spend like a local and explore the globe with a travel debit card. Whether it's a virtual or a physical card, we've got all your travel money needs covered.

Need an international travel card? Take us all around the world

Exchange currencies, send money abroad, and keep 36 local currencies in-app. These are just some of the reasons why our customers love their travel debit cards.

Built-in security features

Set spending limits, get payment notifications, and freeze or unfreeze your card in-app.

Add it to Google Pay or Apple Pay

No need to wait for your physical card to arrive — spend instantly with a virtual card.

Withdraw without ATM fees

Get fee-free ATM withdrawals, up to £2,000 per rolling month, depending on your plan type.¹

Manage travel money in-app

Manage everything for your holiday money card in the Revolut app, from top-ups to transfers.

¹No ATM withdrawal fees within plan limits on a rolling monthly basis. Third-party providers may charge a withdrawal fee. Currency and ATM fair-usage fees apply. Currency exchange fees may apply. Weekend markups on currency exchange will apply. Plan fees and T&Cs apply.

Spend like a local in 150+ currencies

No ATM fees up to £2,000 per month²

²No ATM withdrawals fees within plan limits on a rolling monthly basis. Third-party providers may charge a withdrawal fee and ATM fair-usage fees. Weekend markups will apply.

Spend right away with Apple Pay or Google Pay

How to get your travel money card in the UK

Get your currency debit card in 3 steps

Get revolut.

Join 40+ million people worldwide saving when they spend abroad with Revolut.

Order your card

Order your free travel money card to spend in 150+ currencies. Delivery fees may apply.

Spend like a local

Start spending around the world. That's your travel money, sorted.

Get instant payment notifications

Spend with confidence

Built-in security measures

How to save money with travel currency cards

Tips for saving with a money travel card

Don't exchange at airports or at home.

Don’t exchange cash before you travel. Use your travel money card to spend or withdraw money from an ATM (just watch out for ATM fees).

Always choose the local currency

Choose the local currency when spending with your card in shops and restaurants.

Save on travel spending with a Revolut card

Spend in the local currency at competitive rates on your next trip from the UK.

For life, not just for holidays

This is not a prepaid card you just throw away after your trip. Trust us, you’ll want to use Revolut for future adventures and everyday spending.

Rating as of 19 May 2024

713K Reviews

2.8M Reviews

Spend your holiday money in 150+ currencies

Need a little more help?

Holiday money card FAQs

What is a travel money card, what currencies can i spend in when i use a travel money card, what are the limits for spending with a travel card, how can i manage my travel money card, is a travel money card safe and secure, how can i order a travel money card.

• Download the Revolut app : find it in the Apple or Google Play Store.
• Sign up for Revolut : apply for an account and verify your identity.
• Add a debit card : go to Cards and follow the instructions to start your order.
• Set your PIN : choose a PIN that you'll remember.
• Arrange delivery : enter your delivery address and select your delivery method before proceeding to checkout (delivery fees may apply).

Don’t worry, there's no need to wait for your physical card to arrive — you can also use virtual travel cards with Revolut. Just connect your card to Google Pay or Apple Pay, and use it immediately.

Is a travel money card better than travel money?

• Don’t exchange cash at the airport. It’s much cheaper to withdraw money from an ATM with your travel money card.
• Don't carry more cash than you need. When you return home from your trip, you’ll need to re-convert this cash back to GBP, which can take time and cost you in fees.
• Always choose the local currency when spending with your card in shops and restaurants.
• Sign up for Revolut so you can manage your balance and get instant notifications on what you spend.

What is the best bank to use when travelling abroad?

• exchanging currencies before you go or while you're there
• withdrawing money from ATMs
• using your card in shops, restaurants, and more

Traditional banks aren't your only option. Financial apps often have similar features to traditional banks without the hassle.

With Revolut, you can do everything in-app and save on your transactions and withdrawals abroad. You get ultimate flexibility and control over your money.

What's the difference between using prepaid travel cards and travel debit cards for spending abroad?

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Global Money 

Access the world with one account

Spend, send and manage your currencies in one place using the HSBC UK Mobile Banking app.

Join the many customers who are benefitting from HSBC UK's best exchange rates, and access to more than 200 countries and regions worldwide.

Spend money at home or abroad using your Global Money debit card, or simply add it to your digital wallet for spending free from HSBC fees. Non-HSBC fees may apply.

Your currency balances are protected up to £85,000 by the Financial Services Compensation Scheme.

Available exclusively via the latest version of the HSBC Mobile Banking app.

Here's what you get with a Global Money Account

Send money internationally without any HSBC or intermediary fees

• Send money abroad via the HSBC UK Mobile Banking app with a Global Money Account with no HSBC or intermediary bank fees
• Send money free from HSBC fees in more than 50 currencies to 200 countries and regions with Global Money transfers. You can also hold up to 18 currencies securely to use at any time
• Live exchange rates during market hours so you know exactly how much you're sending
• Send up to GBP50,000 per day (or currency equivalent)
• See the estimated arrival time on screen when you send a payment

More than just a travel money card

• Order your Global Money multi-currency debit card when you apply at no extra cost and add it immediately to your digital wallet. It can be used at home, abroad and online
• With your Global Money debit card, you can spend or withdraw cash with no HSBC fees. Check for other non-HSBC charges, for example when using cash machines
• Use your card abroad and spend like a local. We'll debit the payment from your currency balance if funds are available. If not, or if the transaction is in a currency you can't hold a balance in, we'll debit your GBP balance

HSBC UK's best exchange rates

• Benefit straight away from our competitive live exchange rates
• You can view these rates in the HSBC UK Mobile Banking app before you convert
• You can add or convert currency at any time, storing it until you need it. Convert on the go or when the rate is right for you
• When you're using your card abroad and have the funds in the currency balance you are spending in, there won't be a conversion
• If there aren't enough funds in the right currency balance, but you have funds in GBP and spend in one of the currencies you can hold with us, the conversion will be done using the HSBC Global Money Exchange Rate. Any other currencies will be converted using the VISA exchange rate

Before you apply

Who can apply.

You can apply for an HSBC Global Money Account if you have:

• an active HSBC UK current account (excluding Basic Bank Account, Amanah, Appointee and MyAccount)
• a valid email address that's on our records
• the HSBC UK Mobile Banking app (Global Money is only available via the app)

Find out how to add or update your email address .

You must also read the important documents.

Important documents 

• HSBC Global Money Account Terms and Conditions (PDF, 582 KB) HSBC Global Money Account Terms and Conditions (PDF, 582 KB) Download
• HSBC Global Money Account fee information document (PDF, 181 KB) HSBC Global Money Account fee information document (PDF, 181 KB) Download
• UK FSCS Information Sheet and Exclusions List (PDF, 106 KB) UK FSCS Information Sheet and Exclusions List (PDF, 106 KB) Download
• Privacy notice (PDF, 498 KB) Privacy notice (PDF, 498 KB) Download

Apply for a Global Money Account

Already an hsbc customer.

On your mobile and have our app?

New to HSBC?

If you're not yet an HSBC customer with an eligible current account, find out more about our current accounts and how to apply.

Not on your mobile?

Scan the code to get started.

Frequently asked questions

What is an hsbc global money account .

It's a digital account you can use to hold money in different currencies. It's also an easy-to-use instant payment service that lets you manage, send and spend money in different currencies securely. It's free from HSBC fees. Non-HSBC fees may apply. If a payment is sent to your Global Money Account in a non-GBP currency it will be received, but will be converted into GBP. In the future you’ll be able to receive foreign currency into your account without it being converted to GBP.

What currencies can I hold and use with an HSBC Global Money Account? 

You can send and spend payments more than 50 currencies to 200 countries and regions. If you don't hold a balance in the currency you are spending in, simply ensure funds are available in your GBP wallet.

You can hold balances in these currencies:

• GBP - pound sterling
• USD - US dollar
• AUD - Australian dollar
• ZAR - South African rand
• PLN - Polish zloty
• CAD - Canadian dollar
• NZD - New Zealand dollar
• CHF - Swiss franc
• SEK - Swedish krona
• HKD - Hong Kong dollar
• AED - UAE dirham
• CZK - Czech koruna
• NOK - Norwegian krone
• DKK - Danish krone
• SGD - Singapore dollar
• JPY - Japanese yen
• CNY* - Chinese yuan renminbi

*Whilst you can hold a CNY balance, there are are regulatory restrictions that prevent you being able to send or spend inside or outside China. Chinese regulations only allow for payments in GBP, USD or EUR, so you will need to ensure you have funds available in these currencies.

How do I use my Global Money card? 

Simply add GBP or any supported currency to your HSBC Global Money Account. Use your debit card as you would at home. We'll debit payment from your currency balance if funds are available. If not, or if the transaction is in a currency you can't hold a balance in, we'll debit your GBP balance.

If using local currency where you don't hold a balance, this will debit your GBP balance and not any other currency balance. For example, if you use Mexican pesos this will be debited from your GBP balance and not your USD balance.

Please bear in mind spending limits may apply.

Is a Global Money debit card the same as a travel money card? 

Global Money is more than just a travel card. You can convert currency as and when you need to, even on the go. You can use your Global Money debit card like a local, at home or abroad with no HSBC fees including at cash machines. Non-HSBC fees may apply. We'll debit payments from your currency balance if funds are available. If not, or if the transaction is in a currency you can't hold a balance in, we'll debit your GBP balance.

If using local currency where you don't hold a balance, this will debit your GBP balance and not any other currency balance. For example, if you use Mexican pesos this will be debited from your GBP balance and NOT your USD balance.

Are my balances in Global Money protected? 

Yes, they're covered up to £85,000 by the Financial Services Compensation Scheme. You can find the UK FSCS Information Sheet and Exclusions List under Important documents on this page where you can, view, print and download the document.

What exchange rate will I get when I use my Global Money Account? 

The HSBC Global Money Exchange Rate is made up of the cost to HSBC and a foreign currency conversion margin that we include.

Sending money - international payments

The HSBC Global Money Exchange Rate is a live rate updated by the second during market hours. This means we can always offer our most up-to-date rate. This provides you with visibility and certainty of how much you're sending. The exchange rate will be displayed in the mobile app before you confirm your payment and will be valid for 40 seconds before refreshing. This rate is quoted to you before you complete any foreign currency transaction using Global Money.

Spending - card transactions

If you have enough funds in the currency of the transaction, no exchange rate will apply. If you don't have any or enough funds in the currency of the transaction, but have funds available in GBP, we will auto convert the funds to cover the transaction using HSBC Global Money Exchange Rate.

Is the Global Money debit card a prepaid debit card? 

No, but you can convert currency before you go, and hold it in your currency balance ready to use at any time. This can help you control your budget by choosing how much you want to spend. Alternatively, you could choose to convert currency as and when you need it.

Are there any fees for using a Global Money Account? 

You can send money internationally without any HSBC or Intermediary fees. However, other banks may charge to receive a payment.

With your Global Money debit card, you can spend or withdraw cash with no HSBC fees. Check for other non-HSBC charges, for example when using cash machines.

You might also be interested in

Using your card abroad vs travel money  , using your card outside the uk  , starting a new journey  , customer support.

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• Travel Money

The savvy way to pay on holiday Travel Money Card

A safe-to-use, prepaid, reloadable, multi-currency card that’s not linked to your bank account

No charges when you spend abroad*

Make contactless, Apple Pay and Google Pay™ payments

Manage your account and top up or freeze your card easily with our Travel app

*No charges when you spend abroad using an available balance of a local currency supported by the card.

Why get a Travel Money Card?

Carry up to 22 currencies safely.

Take one secure, prepaid Mastercard® away with you that holds multiple currencies (see ‘common questions’ for which).

Accepted in over 36 million locations worldwide

Use it wherever you see the Mastercard Acceptance Mark – millions of shops, restaurants and bars in more than 200 countries.

Manage your card with our travel app

Top up, manage or freeze your card, transfer funds between currencies, view your PIN and more all in our free Travel app .

Safe and secure holiday spending

Manage your holiday funds on a Travel Money Card with our free travel app. Top it up, freeze it, swap currencies, view your PIN and more.

It’s simple to get started

No need to carry lots of cash abroad. Order a Travel Money Card today for smart, secure holiday spending.

Order your card

Order online, via the app or pick one up in branch and load it with any of the 22 currencies it holds.

Activate it

Cards ordered online and in-app should arrive within 2-3 working days. Activate it by following the instructions in your welcome letter.

It’s ready to use

Spend in 36 million locations worldwide, and top up and manage your card in the app or online.

What is Post Office Travel Money Card?

Discover how easy our Travel Money Card makes managing your spending aboard

New-look travel app out now

Our revamped travel app’s out now. It makes buying, topping up and managing Travel Money Cards with up to 22 currencies a breeze. Buying and accessing Travel Insurance on the move effortless. And it puts holiday extras like airport hotels, lounge access and more at your fingertips. All with an improved user experience. Find out what’s changed .

Order a Travel Money Card

Order your card online – or through the Post Office travel app – and we'll deliver it within 2-3 days. Just activate it and go.

Need it quick? Visit a branch

Pick up a Travel Money Card instantly at your local Post Office. Bring a valid passport, UK driving licence or valid EEA card as ID. 

Need some help?

We’re here to help you make the most of your Travel Money Card – or put your mind at ease if it’s been lost or stolen

Lost or stolen card?

Please immediately call: 020 7937 0280

Available 24/7

To read our FAQs, manage your card or contact us about using it:

Visit our Travel Money Card support page

Common questions

How can i order my card.

There are three ways that you able to obtain a Travel Money Card, each very simple.

Please note, you must be a UK resident over the age of 18 to obtain a Travel Monday Card.

• Via our travel app: you can order and store up to three Travel Money Cards in our free travel app . Delivery will take 2-3 working days.
• Online: follow our application process  to order your card online. Your card will take 2-3 working days to be delivered. Once it arrives you can link it to our Travel app to manage on the go. 
• In branch: simply find a nearby Post Office branch and pop in to get your Travel Money Card there. Please remember to take a valid passport, UK driving licence or a valid EEA card in order to obtain your card, and you can take it away the same day.

Whichever way you choose to order your card, don't forget to activate it once it arrives. Full details of how to activate your card will be provided in your welcome letter, to which your card will be attached if it’s been sent in the post.

How do I use my card?

Travel Money Card is enabled with both chip & PIN and contactless, so you can make larger and lower-value value payments with it respectively. For convenience, you can also add it to Apple Pay and Google Wallet.

You can load it with between £50 and £5,000 (see more on load limits below). You can use it to pay wherever the Mastercard Acceptance Mark is displayed. And you can withdraw cash with it at over 2 million ATMs worldwide (charges and fees apply, see 'Are there top-up limits?' below).

Your Travel Money Card is completely separate from your bank account so it’s a safe and secure way to pay while you’re abroad.

How can I manage my card?

After you've activated your card, you can manage it using our travel app or via a web browser. You can check your recent transactions, view your PIN, transfer funds between different currency ‘wallets’, top up your card, freeze your card and more.

Our travel app brings together travel essentials including holiday money, travel insurance and more together in one place. As well as managing your Travel Money Card you can buy cover for your trip, access your policy documents on the move, book extras such as airport parking and hotels, and find your nearest ATM while overseas or Post Office branches here in the UK.

Which currencies can I use?

The Post Office Travel Money Card can be loaded with up to 22 currencies at any one time. You can top up funds on the card and transfer currencies between different ‘wallets’ for these currencies easily in our travel app or online.

Currencies available:

• EUR – euro
• USD – US dollar
• AUD – Australian dollar
• AED - UAE dirham
• CAD – Canadian dollar
• CHF – Swiss franc
• CNY – Chinese yuan
• CZK – Czech koruna
• DKK – Danish krone
• GBP – pound sterling
• HKD – Hong Kong dollar
• HUF – Hungarian forint
• JPY – Japanese yen
• NOK – Norwegian krone
• NZD – New Zealand dollar
• PLN – Polish zloty
• SAR – Saudi riyal
• SEK – Swedish Krona
• SGD – Singapore dollar
• THB – Thai baht
• TRY – Turkish lira
• ZAR – South African rand

What are the charges and fees?

Full details of our charges and fees can be found in our   Travel Money Card terms and conditions .

The Post Office Travel Money Card is intended for use in the countries where the national currency is the same as the currencies on your card. If the currency falls outside of any of the 22 we offer on your card, you’ll be charged a cross-border fee. For example, using your card in Brazil will incur a cross-border fee because we do not offer the Brazilian real as a currency. 

Cross border fees are set at 3% and are only applicable when you use your currency in a country other than the ones we offer. 

For more information on cross border fees, please visit our cross border payment page.

There are no charges when using your card in retailers in the country of the currency on the card. This means that a €20 purchase in Spain would cost you €20 and will be deducted from your euro balance. 

To avoid unnecessary charges to your card, wherever asked, you should always choose to pay for goods or withdraw cash in the currencies of your card. For example, if you are using the card in Spain you should always choose to pay in euro if offered a choice; choosing to pay in sterling (GBP) in this example would allow the merchant to exchange your transaction from euro to sterling. This would mean your transaction has gone through two exchange rate conversions, which will increase the total cost of your transaction. 

For loads in Great British pounds, a load commission fee of 1.5% will apply (min £3, max £50). A monthly maintenance fee of £2 will be deducted from your balance 12 months after your card expires. Expiration dates can be found on your TMC; all cards are valid for up to 3 years. 

A cash withdrawal fee will be charged when withdrawing cash from a UK Post Office branch or from any ATM globally that accepts Mastercard.  

We have listed all available currencies and their associated withdrawal limits and charges below: 

EUR – euro Max daily cash withdrawal: 450 EUR Withdrawal charge: 2 EUR

USD – US dollar Max daily cash withdrawal: 500 USD Withdrawal charge: 2.5 USD

AED – UAE dirham Max daily cash withdrawal: 1,700 AED Withdrawal charge: 8.5 AED

AUD – Australian dollar Max daily cash withdrawal: 700 AUD Withdrawal charge: 3 AUD

CAD – Canadian dollar Max daily cash withdrawal: 600 CAD Withdrawal charge: 3 CAD

CHF – Swiss franc Max daily cash withdrawal: 500 CHF Withdrawal charge: 2.5 CHF

CNY – Chinese yuan Max daily cash withdrawal: 2,500 CNY Withdrawal charge: 15 CNY

CZK – Czech koruna Max daily cash withdrawal: 9,000 CZK Withdrawal charge: 50 CZK

DKK – Danish krone Max daily cash withdrawal: 2,500 DKK Withdrawal charge: 12.50 DKK

GBP – Great British pound Max daily cash withdrawal: 300 GBP Withdrawal charge: 1.5 GBP

HKD – Hong Kong dollar Max daily cash withdrawal: 3,000 HKD Withdrawal charge: 15 HKD

HUF – Hungarian forint Max daily cash withdrawal: 110,000 HUF Withdrawal charge: 600 HUF

JPY – Japanese yen Max daily cash withdrawal: 40,000 JPY Withdrawal charge: 200 JPY

NOK – Norwegian krone Max daily cash withdrawal: 3,250 NOK Withdrawal charge: 20 NOK

NZD – New Zealand dollar Max daily cash withdrawal: 750 NZD Withdrawal charge: 3.5 NZD

PLN – Polish zloty Max daily cash withdrawal: 1,700 PLN Withdrawal charge: 8.5 PLN

SAR – Saudi riyal Max daily cash withdrawal: 1,500 SAR Withdrawal charge: 7.50 SAR

SEK – Swedish Krona Max daily cash withdrawal: 3,500 SEK Withdrawal charge: 20 SEK

SGD – Singapore dollar Max daily cash withdrawal: 500 SGD Withdrawal charge: 3 SGD

THB – Thai baht Max daily cash withdrawal: 17,000 THB Withdrawal charge: 80 THB

TRY – Turkish lira Max daily cash withdrawal: 1,500 TRY Withdrawal charge: 7 TRY

ZAR – South African rand Max daily cash withdrawal: 6,500 ZAR Withdrawal charge: 30 ZAR

Are there top-up limits?

Yes, all currencies have top-up limits and balances. See full information below, which is applicable to all currencies available on the Travel Money Card.

• Top-up limit: minimum £50 – maximum £5,000
• Maximum balance: £10,000 at any time, with a maximum annual balance of £30,000
• Read more Travel Money Card FAQs

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Find out more information by reading the  Post Office Travel Money Card's terms and conditions .

Post Office Travel Money Card is an electronic money product issued by First Rate Exchange Services Ltd pursuant to license by Mastercard International. First Rate Exchange Services Ltd, a company registered in England and Wales with number 4287490 whose registered office is Great West House, Great West Road, Brentford, TW8 9DF, (Financial Services Register No. 900412). Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Post Office and the Post Office logo are registered trademarks of Post Office Limited.

Post Office Limited is registered in England and Wales. Registered number 2154540. Registered office: 100 Wood Street, London, EC2V 7ER. 

These details can be checked on the Financial Services Register by visiting the  Financial Conduct Authority website  and searching by Firm Reference Number (FRN).

Comparing Digital Multi-Currency Accounts: Wise, YouTrip, Revolut, and Others

Comparing multi-currency accounts in singapore (2023), dbs multi-currency account, how to apply for dbs mca, pros of  dbs mca.

• 12 foreign currencies
• No foreign exchange fees or debit card fees
• ATM cards can be used overseas
• Free ATM withdrawal at Westpac Group ATMs in Australia (Plus/Cirrus Card only) and DBS ATMs in Hong Kong (Plus/Cirrus Card only), India and Indonesia.
• No account fees

Cons  of  DBS MCA

• $7 per ATM withdrawal

HSBC Everyday Global Debit Card (linked to Everyday Global Account)

How to apply for the  hsbc everyday global debit card, pros of the  hsbc everyday global debit card.

• Exchange and store 10 foreign currencies
• Account and card are free with no fees and charges
• No fees at HSBC ATMs
• High ATM withdrawal limit of 10,000 SGD
• Possibility to earn bonus interest if you satisfy requirements

Cons  of the  HSBC Everyday Global Debit Card

• 1.5% fee for non-HSBC ATM withdrawals

UOB MightyFX

How to apply for  uob mightyfx, pros of  uob mightyfx.

• 11 foreign currencies
• ATM card can be used overseas

Cons  of  UOB MightyFX

• Overseas ATM fee of 5 SGD per withdrawal
• Annual fee of $18 after 3 years if 12 Mastercard transactions not made per year

Citibank Debit Mastercard (linked to Citibank Global Foreign Currency Account)

How to apply for the  citibank debit mastercard, pros of the  citibank debit mastercard.

• Exchange and store 14 foreign currencies
• No fees at Citibank ATMs
• High transaction limit of 2,000 SGD per day

Cons of the  Citibank Debit Mastercard

• 2.5% fee for non-Citibank ATM withdrawals

YouTrip card by EZ-Link

How to apply for a  youtrip card, pros of the  youtrip card.

• Pay in 150+ currencies
• -0 foreign currencies supported by in-app exchange
• Lets you pay using your credit/debit card

Cons of the  YouTrip card

• 2% withdrawal fee after the first S$400

Revolut card

How to apply for the  revolut card , pros of  the  revolut card.

• 30+ foreign currencies supported by in-app exchange
• ATM card can be used overseas for free

Cons of the Revolut card

• Withdrawal limit of 350 SGD or 5 withdrawals per month, otherwise must pay 2% or $1.49, whichever is higher.

Wise’s borderless debit card

How to apply for wise’s borderless debit card, pros of  wise’s borderless debit card.

• Exchange and store 53 foreign currencies

Cons of Wise’s borderless debit card

• Withdrawal limit of S$350 per month, otherwise must pay S$1.50 per withdrawal and 1.75% on any amount withdrawn above S$350.

Instarem’s Amaze Card

The good thing about linking your credit card is that you don’t have to miss out on the cashback, rewards, and air miles from your credit cards’ programmes., how to apply for instarem’s amaze card, pros of instarem’s amaze card.

• Exchange and store 9 foreign currencies
• ATM card can be used overseas with high withdrawal limit of 1,000 SGD per day
• Earn InstaPoints as you spend

Cons of Instarem’s Amaze Card

• ATM withdrawal fee of 2%

Note: Paying by credit card is not always an option in certain countries

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The 6 Best Prepaid Travel Cards for Australians 2024

Here is a list of the 6 best prepaid cards you can take with you on your travels and the positives and negatives for each one:

• Wise - our pick for prepaid cards

Revolut - low fees

• Citibank - good for use at home
• Travelex - no fees for ATM withdrawals
• Australia Post - lock in exchange rates

HSBC - no international transaction fees

Prepaid travel money cards let you load money - either in AUD or the foreign currency you need - in advance, which you can then use as you travel , for spending and withdrawals. Lots of cards let you top up and manage your account through an app, which means you can always keep up with your money, even when you’re away from home.

Picking the right prepaid card can mean you get more convenient ways to spend and withdraw when you’re abroad - and lower overall costs, too. Let’s look at some of the best prepaid travel cards  for Australians , so you can pick your perfect match:

Wise - our pick for prepaid travel card

• Top up for free in AUD using PayID or bank transfer
• No annual fee, hidden transaction fees or exchange rate markups
• No minimum balance requirements
• Allows you to make payments and withdrawals wherever you are in the world in over 40 currencies
• Local bank account details in Australia (AUD), the UK (GBP), the USA (USD), Europe (EUR), Canada (CAD) and New Zealand (NZD)
• Available in the US, UK, Europe, Australia, Singapore, Japan and New Zealand

Find out more about the Wise card .

With this card:

• It's very easy to set up and order
• Available as a  virtual card
• You can receive foreign currency into a multi-currency account linked to the card
• Pay with your Wise card in most places overseas where debit cards are accepted
• You can transfer money to a bank account overseas

It's not all good news though

• There is a 2% ATM withdrawal fee when you withdraw over $350 during a month
• It takes 7-14 days for delivery

Go to Wise or read our review .

• No hidden fees or exchange rate mark-ups (except on weekends)
• Very easy to use app
• Free to set up account and top up
• You can use it to transfer money to a bank account overseas

Read the full review

• No purchase fee, load fee, reload fee, exchange rate margin or minimum balance requirements
• Unlike other Travel Cards, its free and easy to use the balance of your currency or convert it back to AUD
• The exchange rates are unbeatable. They use the same rate you see on XE or Google with no hidden mark-up
• For the free Standard account, there is a 2% ATM withdrawal fee when you withdraw over $350 during a month
• The premium account costs $10.99 a month, which can really add up if you are not using it often
• Additional fees for using the card on a weekend
• 2% ATM fee once you withdraw more than $350 in any 30 day period
• 3-4 business days before you receive your card

Click here to see the full list of cards and how Revolut compares

Australia Post Prepaid Travel card - lock in exchange rates

• Load up to 11 different major world currencies
• Spend and withdraw easily around the world
• Get access to extras like free wifi when you travel
• Manage your card in online and via an app
• Transfer instantly to another Travel Platinum Mastercard

• Load up to 11 different currencies for easy spending and withdrawals
• Lock in exchange rates so you know what your travel money budget is in advance
• Get extra perks like free wifi when you load 100 AUD or more
• Get fraud protections from Mastercard
• 3.5 AUD international ATM fee, or 2.95% domestic ATM fee
• Exchange rates to add money in a foreign currency or spend a currency you don’t hold are likely to include a markup
• Some fees apply depending on how you top up your account

Travelex - no fees for international ATM withdrawals

• Load up to 10 major currencies at a time
• Spend and withdraw anywhere Mastercard is accepted
• Contactless payments so you can just tap and go
• No Travelex fees for international ATM withdrawals
• Free to spend currencies you hold in your account
• Order online and have it delivered to your home - or collect in store

• Top up and hold up to 10 currencies at a time
• View and manage your account online
• Spend online and in person, and make withdrawals as you travel
• No membership or account fees to pay
• Get exclusive Mastercard discounts and perks
• Inactivity fees apply if you don’t use the card for a year
• Not all major currencies are supported for holding - double check they have the currency or currencies you need

Go to Travelex or read our review .

Citibank Saver Plus - best for use at home

• No international ATM or transaction fees
• Fee-free international money transfers to any account worldwide
• SMS notifications through Citi Alert

With this card you can:

• withdraw money for free at over 3000 ATMs Australia-wide and overseas
• take advantage of no foreign transaction fees, monthly fees, or minimum opening balance
• transfer money to friends and family anywhere in the world for free
• Cash deposits available within 24-48 hours
• Can’t have two cards active at the same time
• $5 account closure
• Hold and exchange 10 currencies: AUD, USD, GBP, EUR, HKD, CAD, JPY, NZD, SGD, and CNY 
• No account opening or annual fees to pay
• No foreign transaction fee and no HSBC ATM fee at home or abroad
• Some cashback earning opportunity on local spending 
• Easy online overseas transfers - 8 AUD fee and exchange rate markups apply

• Hold and exchange 10 currencies
• No account opening fee, no ongoing fees 
• Get up to 2% cashback on eligible card spend
• No HSBC ATM fee
• No international transaction fee
• 8 AUD fee for sending money overseas
• Cashback on low value transactions made in Australia only
• Limits apply on how you can use CNY within your account

Read our HSBC Everyday Global Account review .

What are Prepaid Travel Cards?

Prepaid travel cards are a good international card alternatives to carrying cash. They look like credit or debit cards, but they function differently.

You're able to load the card with a set amount of money in the currency you need and can use it to make purchases online, in stores and to withdraw money at ATMs.

Most travel cards allow for multiple currencies to be loaded onto the card. So it's important to know what currency you'll be using on your travels. Airlines also offer prepaid cards so the money you spend can earn you reward points.

Find out how our 5 best prepaid travel cards for Australians compare in our best and worst travel cards article .

Looking for something different?

Read our guides on:

• The best travel debit cards
• The best travel cards for Europe
• The Wise debit card review
• Best virtual debit cards for Aussies

How does a prepaid travel card work?

Order a prepaid travel card online, through a provider app , or - in some cases - pick one up at a physical location or store. Generally to get your card you’ll need to show or upload some ID documents for verification - this is to keep your account safe and is a legal requirement.

Once you have your card account open , you can load funds . Different cards have their own supported methods for topping up, which usually include bank transfer, PayID, credit and debit card, and which may also allow you to deposit cash in some cases. Once you have funds on your card, you can switch to the currency you need for overseas spending. In some cases you can also leave your funds in AUD and just allow the card to convert for you - but do check that no additional fees will apply in this case.

Prepaid travel cards can then be used to tap and pay , make withdrawals and shop online . You can often also add them to mobile wallets like Apple Pay for convenient spending. Because your card isn’t attached to your everyday account it’s secure, and you can only spend the funds you’ve loaded, which means there’s no chance of accidentally blowing your budget.

Advantages and disadvantages of prepaid cards

Prepaid cards can be a handy addition when you’re abroad, as they are secure and convenient to use for payments and withdrawals. However, they’re not the only option. If you’re not sure about whether a prepaid card is right for you, check out these advantages and disadvantages to help you decide:

Advantages:

• More convenient than carrying cash, with easy access to ATMs to withdraw when you need to
• Not linked to your primary day to day account, which can be more secure and make budgeting easier
• Some accounts let you buy currency in advance to lock in exchange rates when they’re good
• You may be able to access better exchange rates and lower fees compared to using a regular bank card

Disadvantages:

• Some prepaid cards have fairly high fees - including charges when you add money to the account. Read more on how to find the best travel cards with no foreign transaction fees
• Not all prepaid cards support a broad range of currencies - check the currencies you need are covered
• Prepaid cards aren’t always accepted for things like paying security deposits - so it’s safest to have a credit card as well

Who is a prepaid debit card for?

A prepaid debit card is handy for many different customer needs. For example, you may choose a prepaid debit card in the following situations:

• You’re planning travel and want to set your budget in advance with no chance of accidentally overspending
• You want to be able to hold and exchange a selection of foreign currencies all in the same account
• You want to increase security by using a payment card that’s not linked to your main everyday account when you travel
• Some cards also offer other perks like ways to receive foreign currency payments conveniently, or cashback 

How can I get a prepaid travel card?

Different prepaid cards have their own order and activation processes. However, to comply with local and international law, providers will usually need to see some ID before you’re able to get a card - this verification step may be available online by uploading images of your paperwork, or in person by visiting a branch. 

Here’s an outline of the basic steps you’ll take to get a prepaid travel card:

• Pick the right card for your needs
• Visit the provider’s website or app - or call into a branch if you’d prefer a face to face service
• Complete a travel card order from, which will include your personal information
• Get verified - usually this involves showing or uploading ID like a passport or driving licence
• Add money to your card, which could be in cash, with a bank card, or by bank transfer
• You can now get your card, and manage your account online or in the app

If you’re ordering a card in person you’ll be able to start using it right away. If you’ve ordered online for delivery, you’ll need to wait a few days, to a couple of weeks, depending on the provider you’ve picked, for your card to be available. You might be able to access virtual card details in the meantime, to start spending right away.

How to choose a prepaid debit card

There are many different prepaid debit cards on the Australian market - so picking the best one for you will require a bit of research. Starting with this guide, compare a few different prepaid debit cards based on features and fees. Here are a few pointers to think about:

• Make sure you know about any opening or card delivery fee which will apply once you order your card
• Check how long it’ll take to get your card if you’re ordering online for home delivery
• Make sure the card you pick can hold a broad selection of currencies, so you can use it for more than one trip away
• Check the fees for adding funds, making ATM withdrawals and converting currencies
• Look to see if there are any account close, cash out or dormancy fees that apply once you stop using the card
• Make sure the card is well rated by other users, and from a trustworthy provider

Where can I get a prepaid debit card?

Generally you can order your prepaid debit card online or by downloading your preferred provider’s app. Some cards, like the Auspost card, can also be collected in physical branch locations.

FAQ - 6 Best Prepaid Travel Cards

Are prepaid cards free.

Prepaid cards may be free to order, or you may pay a small one time fee, depending on the provider and card you pick. Once you have your card you may also pay transaction fees such as exchange rate markups when you switch currencies, and ATM withdrawal charges. Read the card’s terms and conditions carefully so you’re aware of the costs involved.

What are the best prepaid debit cards for international travel?

There’s no single best prepaid debit card - it’ll come down to your personal preferences, where you’re travelling, and the type of transaction you need to make. Pick a prepaid card which is easy to use, which supports the currency you need, and which offers a good balance of low fees and good exchange rates.

What is the best reloadable prepaid card?

There’s no single best reloadable prepaid debit card. Use this guide to compare a few options to pick the one that’s right for you, thinking about features, fees and the range of supported currencies you’ll need.

Should I use a Mastercard or Visa for overseas?

Both Visa and Mastercard are very broadly accepted globally. It’s often a good idea to have a prepaid, debit or credit card on each of these networks, so you’ll always have a backup if for some reason one network isn’t available wherever in the world you are.

Are prepaid currency cards worth it?

Picking the right prepaid currency card can help you save money on currency exchange and access low fee international transaction services. You might also get extra perks like easy ways to lock in exchange rates in advance, so you can get a good deal and fix your travel budget before you go away.

Your currency knowledge centre

5 Best Debit Cards for Australians Travelling Overseas

Travel debit cards are a good alternative to carrying cash. They also offer the convenience of a credit card, but work differently. Here is a list of the 5 best travel debit cards you can take with you on your travels and the positives and negatives for each one.

• Read more ⟶

Wise Debit Card Review

The Wise Debit card give customers an easy way to spend their balances in multiple countries. With interbank rates and low fees, this product is available in Australia for both personal and business customers.

8 Travel Traps to Avoid If You're Heading to Europe

To help you avoid spending money unnecessarily, here are some pretty important travel money traps you want to avoid if you travel to Europe.

• Easy Banking
• Premium Banking
• Priority Banking
• Priority Private
• Private Banking
• Business Banking
• Commercial Banking
• Corporate Banking

Cross Border

• Greater Bay Area Banking
• International Banking

Digital Banking

• Digital Banking Service Guide
• SC Mobile App download
• Payments and Transfers
• Brunei Darussalam
• Cote d'Ivoire
• Falkland Islands
• Philippines
• Sierra Leone
• South Africa
• South Korea
• United Arab Emirates
• United Kingdom
• United States

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The hyperlink is provided for your convenience and presented for information purposes only. The provision of the hyperlink does not constitute endorsement, recommendation, approval, warranty or representation, express or implied, by the Bank of any third party or the hypertext link, product, service or information contained or available therein.

The Bank does not have any control (editorial or otherwise) over the linked third party website and is not in any way responsible for the contents available therein. You use or follow this link at your own risk. To the extent permissible by law, the Bank shall not be responsible for any damage or losses incurred or suffered by you arising out of or in connection with your use of the link.

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Limited-time travel reward offer – HKD300 Klook e-vouchers

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A world of benefits exclusive for Priority Banking and Priority Private clients

​Convenient access to 11 major currencies

• Prepare sufficient foreign currency deposits via SC Mobile at your preferred rate ²³ . Spending & withdrawal will be directly debiting from the corresponding deposits.
• Currencies supported: HKD, RMB, AUD, CAD, CHF, EUR, GBP, JPY, NZD, SGD and USD

​Fee– free spending & withdrawal

• Enjoy 0.5% rebate on all local & overseas spending
• 0 handling fees on foreign currency spendings, saving 1.95% Fx markup.
• Free cash withdrawal ⁵ worldwide from ATMs carrying MasterCard © or Maestro logos ¹⁵⁶⁷ .

• Apply for the Standard Chartered Multi-Currency Mastercard Debit Card; and
• Spend once with the Multi-Currency Mastercard Debit Card; and
• Perform foreign exchange transactions of HKD10,000 equivalent or more
• Terms and Conditions apply

Tips for travelling with your card

Set your limits, check your funds, select the right account, promptly deactivate your overseas withdrawal.

How to apply?

Apply now in a few taps via your SC Mobile App

Login to your SC Mobile app and tap "Request Debit Card" under your Integrated Deposits Savings Account

Read and accept the terms and conditions.

Choose your desired ATM Language on Screen and select up to 2 additional accounts to be linked to the card. Click "Apply for New Card".

You have successfully applied for the Debit Card. Before receiving your physical card, you can access your virtual card details in the SC Mobile app to make online payments⁴

Useful Materials

Priority Private Multi-Currency Mastercard Debit Card User Guide

Priority Banking Multi-Currency Mastercard Debit Card User Guide

Managing your Debit Card

You can now activate your card and set PIN, manage overseas withdrawal,  temporarily block a card , report a lost card and replace a card via SC Mobile App. Click here to learn more.

You may also submit the following form to our branch for daily withdrawal limit adjustment. Please refer to below form:

Banking Plan and Banking Services Maintenance/Termination Form

Dispute resolution

Please click here to learn more on dispute resolution.

• If there is insufficient available foreign currencies in the Account to settle the full amount of the transaction, or the transaction made is denominated in a currency outside of the supported 11 currencies of the Account, the transaction amount will be converted into HKD at an exchange rate we reasonably consider appropriate and the equivalent converted amount in HKD will be debited from the linked HKD Account. A foreign exchange rate mark-up fee of 0.95% on the full amount of the transaction will be charged to the Account. Please note that in case you have insufficient funds in HKD, the transaction will be rejected. For details, please refer to the Service Charges and Standard Chartered Multi-Currency Mastercard Debit Card Terms and Conditions.
• Foreign exchange involves risks. Fluctuation in the exchange rate of a foreign currency may result in gains or significant losses in the event that the customer converts deposit from the foreign currency to another currency (including Hong Kong Dollar).
• Renminbi (“RMB”) exchange rate, like any other currency, is affected by a wide range of factors and is subject to fluctuations. Such fluctuations may result in gains and losses in the event that the customer subsequently converts RMB to another currency (including Hong Kong dollars); and RMB is currently not freely convertible and conversion of RMB through banks in Hong Kong is subject to restrictions specified by the Bank and regulatory requirements applicable from time to time. The actual conversion arrangement will depend on the restrictions prevailing at the relevant time.
• Before physical card activation, you can use the virtual card for online shopping only at websites which require SMS One-Time Password (OTP) to validate your transactions.
• The overseas cash withdrawals may also be subject to fees and charges imposed by the overseas local bank which provides the ATM service. Please pay attention before making cash withdrawal.
• Only HKD and RMB are available for cash withdrawals in local Standard Chartered ATMs and JETCO ATMs.
• Please pay attention to the relevant fees and charges when using ATM services at Mastercard® ATM network in Hong Kong. For details, please refer to the Service Charges or contact our staff.
• Terms & conditions applies. For details , please click here .

Terms and conditions

Terms and conditions.

• Standard Chartered Multi-Currency Mastercard Debit Card Terms and Conditions
• Standard Chartered Multi-Currency Mastercard Debit Card Cash Rebate (“Cash Rebate”) Terms and Conditions
• Standard Chartered Multi-Currency Mastercard Debit Card Travel Reward

What Is the Charles Schwab Visa Platinum Debit Card?

This debit card saved me multiple times while backpacking around the world, how i use the charles schwab investor checking account , is the charles schwab investor checking account worth it if you don’t travel, i traveled to 36 countries this past year. the card i reached for the most surprised me.

Travel credit cards are a must. But I would have missed out on valuable experiences without this debit card.

Contributor

Raina He is a contributor to CNET Money. She previously worked as an editor at CNET, focusing on credit cards, banking and loans. She graduated from the University of North Carolina at Chapel Hill with a B.A. in Media and Journalism. Before coming to CNET Money, she was an editor at NextAdvisor, a personal finance news site that shared a parent company with CNET Money.

Courtney Johnston

Senior Editor

Courtney Johnston is a senior editor leading the CNET Money team. Passionate about financial literacy and inclusion, she has a decade of experience as a freelance journalist covering policy, financial news, real estate and investing. A New Jersey native, she graduated with an M.A. in English Literature and Professional Writing from the University of Indianapolis, where she also worked as a graduate writing instructor.

The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.

Last year, I left my job as a personal finance editor to backpack across the world . Since I’d written about dozens of credit cards, I put my skills to the test to find the best travel credit cards to use on my trip. But the card that I found the most useful surprised me.

I signed up for different credit cards with large welcome bonuses that I used to pay for my flights and hotels. These cards came with travel protections to insure my purchases and some offered perks that upgraded my experience . But the most helpful card in my wallet turned out not to be a credit card at all -- the debit card that came along with my Charles Schwab High-Yield Investor Checking Account was the unsung hero of my travels.

Yes, my credit cards helped fund my trip and were a big reason why I was able to take this year off. But my Schwab Visa Platinum debit card fulfills an incredibly useful and necessary niche that my credit cards don’t. Here’s why this dark horse of a card is a must-have for international travelers.

Unlike a credit card, the Charles Schwab Visa Platinum Debit Card isn’t a separate card you can apply for on its own. Rather, it’s the debit card associated with the Charles Schwab Investor Checking Account .

As checking accounts go, however, this Schwab account is compelling. The Investor Checking Account is a free checking account with no minimum deposits or minimum balance requirements, no monthly fees, no overdraft fees and a 0.45% APY on your account balance -- just a few reasons why it won CNET’s Editors’ Choice award for best checking account . Best of all, there are no foreign transaction fees and you get unlimited ATM fee rebates for cash withdrawals worldwide. 

The card also comes with some nice benefits from Visa , such as extended warranty protection, price protection and travel accident insurance (when you pay with the card). The ability to set travel alerts and lock and unlock your card directly from the app, as well as add your card to mobile wallets, make it easy to use while traveling. 

I’ve also found this bank’s customer service to be excellent. Most account actions, like setting a travel notice or locking and unlocking your debit card, can be accomplished in Schwab’s banking app. But the few times I’ve needed to call customer service, I’ve always been able to reach a human quickly and have my problem resolved without issue.

To open an Investor Checking Account, you also need to open a brokerage account with Charles Schwab. But Charles Schwab’s brokerage accounts are free to open and maintain, and you don’t need to actively use it for investing if you don’t want to. So although it’s an extra step, there’s really no downside. 

The biggest benefit of this debit card is that you can withdraw money from any ATM without worrying about foreign transaction fees or ATM fees. Even if you’re used to a cashless lifestyle at home, when you’re traveling, you need cash. 

This card came in handy when I went to Oktoberfest in Munich and at multiple Christmas markets in Vienna. In both places, most of the food vendor stalls were cash only. There were typically ATMs available in the near vicinity, but they were often run by third-party companies that charged fees.

Even if you travel to a country where credit cards are widely accepted -- like most of western Europe -- many smaller businesses and street vendors will take only cash, or require a minimum purchase amount to use a card.

Certain parts of Southeast Asia were similar. At the night markets of Kuala Lumpur, for example, most of the food hawker stalls took only cash or QR code mobile wallets (a different system from the mobile wallets in the US). Without a steady supply of cash, I would’ve missed out on a lot of experiences while traveling. 

Some countries don’t widely accept credit cards. In Morocco, I often found that many restaurants, shops, museums and even locally run hotels and hostels accepted only cash. Basically, unless a place was a chain store or some high end establishment, I needed cash. It’s not too hard to keep $20 or $50 USD worth of local currency on hand to cover small purchases like street food or souvenirs, but needing to pay for week’s worth of lodging with cash can make for a hefty ATM withdrawal or currency exchange -- not to mention the commensurate fees, if you’re being charged for a percentage of the transaction. 

Taxis and public transportation in some countries are also cash-only. And it’s also good to have some cash for emergencies if your credit cards are ever declined or if you lose access to them. 

Is the Charles Schwab debit card the only way to get cash while traveling? Of course not. You can use your regular debit card at foreign ATMs -- but you might be charged a fee. You can also change dollar bills into the local currency of your destination at a bank in the US before you leave, or at a currency exchange service once you arrive. But then you’re stuck carrying all of your cash on you, which can be risky.

For me, being able to withdraw cash from any ATM, any time, without worrying about fees (after the reimbursement from Schwab) has made my travel experience much smoother. Specifically, it means:

• I can use the nearest ATM available, even in airports and “tourist trap” areas, without worrying about high fees.
• I don’t have to calculate how much money I need or carry large amounts of cash because I can withdraw cash in smaller quantities and go back for more without paying extra. This also means I’m less likely to end up with a large amount of foreign currency when I leave the country.
• I never worry about exchanging currency or finding the best exchange rate. I withdraw cash in the currency I need at a standard exchange rate every time.

During my eight-months-and-counting backpacking across Europe, Morocco and Asia, my Schwab checking account has been invaluable for managing my finances and accessing cash on my travels. And it’s not even my primary checking account .

Since I knew I wanted to use the Schwab debit card overseas, I decided to keep my money in my primary high-yield checking account that didn’t have an active debit card attached to it. As a tourist who was out and about all day in unfamiliar areas, I wanted to be cautious in case I was pickpocketed or lost my debit card. If my card was compromised before I had a chance to lock down my account, I didn’t want to risk losing more than a few hundred dollars.

So, I transferred a few hundred dollars into my Schwab account at a time and topped off the balance as I used it. I put all non-cash expenses on my credit cards -- both to earn rewards and for increased security. And of course, I made sure my credit cards were paid in full each month from my primary checking account.

This system has worked well for me so far and has helped me keep my money safe while traveling.

Even if you’re not jet setting across the globe, the Charles Schwab Investor Checking Account is still worth considering. Its ATM fee rebates work in the US as well, and while your bank likely has a domestic network of fee-free ATMs, it’s still nice to be able to use the most convenient ATM regardless of if it’s in-network. Even though credit cards are ubiquitous in America, there are still times and places you need cash.

Reimbursements aside, this account is a great checking account in and of itself, with no account fees, minimums or overdraft fees . Although its APY isn’t as high as some other high-yield checking accounts and it lacks some of the benefits of newer fintech banks (like early direct deposit ), it’s a solid option from a large and reputable institution. 

Plus, if you’re interested in investing, having a Charles Schwab brokerage account linked to your checking account makes it easy to transfer money between the two. Charles Schwab’s brokerage accounts have no opening and maintenance fees and no commissions on online stock and ETF trades. 

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Home > Blog > Travel > Visa > Best Forex Card for Dubai – Make the Most of Your Money

Best Forex Card for Dubai: Maximizing Your Money on Every Swipe

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Ensure a financially savvy and hassle-free trip to Dubai by choosing the best Forex card from India. Discover the benefits of forex cards, designed for international travellers to save on forex mark-up fees. Explore the advantages, including zero forex markup charges, global acceptance, convenient currency conversion, and enhanced security. Uncover the top forex cards for Dubai, such as Niyo Global Card, BookMyForex YES Bank Forex Card, Axis Bank Multi-Currency Forex Card, HDFC Bank Regalia ForexPlus Card, and more. Consider factors like joining fees, foreign currency markup, and travel benefits when selecting the ideal forex card.

Introduction

Planning a trip to Dubai can be exciting, but managing your finances while travelling is crucial. Using your regular credit card might not be the smartest choice due to additional forex mark-up fees. That’s where forex cards come in. These prepaid cards are specifically designed for international travellers, offering convenience and cost savings.

In this article, we’ll explore the best Forex card for Dubai from India , providing you with the information you need to maximise your money on every swipe.

What is a Forex Card and Why Do You Need One?

Before diving into the best Dubai forex card options, let’s first understand what a forex card is and why it’s essential for your trip to Dubai. A forex card is a prepaid card that allows you to load money in various currencies and use it like a regular debit or credit card. The primary advantage of a forex card is that it eliminates the need to carry large amounts of cash or rely on your regular credit card, which may incur hefty foreign transaction fees.

Benefits of Forex Cards for Travelers in Dubai

Using a forex card while travelling in Dubai offers several benefits that can enhance your overall experience. Here are some key advantages:

• Zero Forex Markup Charges: Top forex cards let you load money in INR, enabling fee-free payments in multiple currencies, and reducing transaction costs.
• Global Acceptance: Widely accepted at millions of establishments and ATMs worldwide, including tourist hotspots like Dubai.
• Convenient Currency Conversion: Lock in favourable exchange rates when loading the card, avoiding fluctuations for predictable trip budgeting.
• Enhanced Security: Forex cards feature chip-and-PIN technology for advanced security. Many cards also offer insurance coverage for lost or stolen cards, ensuring peace of mind during your travels.

So when you are planning your Dubai itinerary , be sure to secure a forex card.

Top Forex Cards for Dubai from India

Now that we understand the benefits of using a forex card in Dubai, let’s explore the top options available for Indian travellers:

1. Niyo Card by Equitas Bank

• Joining Fees: Nil
• Travel Benefits: Load card in INR and make payments in over 150 currencies worldwide at zero forex markup charges; global ATM locator and currency converter for live forex rates
• Foreign Currency Markup: Nil

2. BookMyForex YES Bank Forex Card

• Travel Benefits: Load it in 14 major currencies; zero forex markup rates; free international SIM card; free and faster reload on the go; free insurance cover of 1.5 lacs; manage spending via BookMyForex app, and more
• Foreign Currency Markup: Exact interbank rate with no added margin

3. Axis Bank Multi-Currency Forex Card

• Joining Fees: Rs. 300 (plus applicable taxes)
• Travel Benefits: Can be loaded in 16 different currencies; up to Rs. 1,000 cashback on Vodafone India international roaming packs; 24×7 emergency assistance by TripAssist
• Foreign Currency Markup: 3.50% of the transaction amount on cross-currency usage

4. HDFC Bank Regalia ForexPlus Card

• Joining Fees: Rs. 1,000 (plus applicable taxes)
• Travel Benefits: Complimentary lounge access at international airports in India; complimentary lounge access in case of flight delays

5. HDFC Bank Multicurrency Platinum ForexPlus Chip Card

• Joining Fees: Rs. 500 (plus applicable taxes)
• Travel Benefits: Can be loaded in 22 different currencies; comprehensive insurance plan with multiple travel-related insurance benefits; discounted online forex rates
• Foreign Currency Markup: No mark-up fee on transactions made in the currency loaded on the card, a cross-currency mark-up fee of 2% on transactions made in a different currency

6. Axis Bank Club Vistara Forex Card

• Travel Benefits: Can be loaded in 16 different currencies; no forex mark-up charge on transactions made in the loaded currency; cashback on VI international roaming packs; 24×7 global assistance by TripAssist

7. ICICI Bank Student Forex Prepaid Card

• Joining Fees: Rs. 499 + GST
• Travel Benefits: N/A
• Foreign Currency Markup: Cross currency markup fee of 3.5%

How to Choose the Best Forex Card for Dubai?

With several options available, choosing the best forex card for Dubai can seem overwhelming. Consider these factors before making your decision:

• Exchange Rates and Markup Charges: Compare the exchange rates offered by different cards and choose one with minimal or zero forex markup charges.
• Multi-Currency Support: Opt for a card that allows you to load multiple currencies, including AED (United Arab Emirates Dirham), the local currency of Dubai.
• Card Issuance and Delivery: Look for a forex card that offers a smooth and hassle-free application process, with quick card delivery options.
• Customer Support and Assistance: Check if the card issuer provides round-the-clock customer support and emergency assistance services.
• Additional Benefits: Consider any additional benefits offered by the forex card, such as complimentary lounge access, travel insurance coverage, or cashback rewards.

Ready to save on every transaction? Get Your zero Forex Card Now to enjoy exclusive travel benefits.

Scan QR Code To Download The App

Tips for Maximizing Your Forex Card Experience in Dubai

To make the most of your forex card while travelling in Dubai, keep these tips in mind:

• Load Sufficient Funds: Estimate your expenses and load an adequate amount of money onto your forex card to avoid frequent reloads or currency exchange hassles.
• Keep a Backup Card: Carry a spare forex card in case of loss, theft, or malfunction of your primary card to ensure uninterrupted access to funds.
• Use ATMs Wisely: Opt for ATMs that are affiliated with your forex card provider to avoid unnecessary withdrawal fees.
• Monitor Your Transactions: Regularly check your transaction history using the Niyo app or online banking to detect any unauthorised activity and manage your expenses effectively.

Key Takeaways

Choosing the best forex card for Dubai is crucial for maximising your financial convenience and cost savings. Consider factors like exchange rates, multi-currency support, customer support, and additional benefits when selecting a forex card. By following these tips and choosing the best forex card for Dubai , you can ensure a hassle-free and financially savvy travel experience.

Download the Niyo App today to unlock additional features and manage your forex card effortlessly during your trip to Dubai. Maximise your money on every swipe and enjoy your trip to Dubai to the fullest!

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Good, bad and ugly of currency exchange

By mitch strohm  • bankrate.com.

If you're not careful, currency conversion fees can cost more than you expect. To get the best bang for your U.S. dollar abroad, update your knowledge of currency exchange.

According to Douglas Stallings, senior editor for Fodor's Travel, travelers need to be aware of currency exchange options abroad because of costs. "Many options carry extraordinary hidden fees, and some places are just more difficult to negotiate since they are more cash-based than the typical American is used to," Stallings says.

In lieu of foreign currency exchange desks at airports and major hotels, there are more convenient and cheaper ways to exchange currency, Stallings says. While some desks advertise "no-fee" exchanges, they still build in a hefty profit by offering a high rate.

Before your next trip, take a look at the best and worst methods of currency exchange by following Bankrate's "thumbs-up" or "thumbs-down" rating:

Credit card: Thumbs up

Credit cards offer some of the lowest currency exchange rates. Card companies base their exchange rates on wholesale prices offered to bigger institutions, so you're bound to get a fair rate. Foreign transaction fees are a different story.

"Most people have multiple credit cards, and each could have a different fee structure. You can save money on fees by making some calls before you go and knowing which cards to use," says Tom Meyers, editor in chief of EuroCheapo.com, a guide to budget travel in Europe.

Some major card companies have eliminated foreign transaction fees on all of their cards. Others are just offering a few cards without foreign fees.

In addition to cards without fees, think about getting a card with the latest technology. Maria Brusilovsky, spokeswoman for Travelex Currency Services, says chip and PIN technology is now the preferred way of making credit card and debit card transactions in Europe, and some vendors only accept chip and PIN cards.

The "chip" refers to a microchip embedded into the card to secure account information. The "PIN" refers to a personal identification number that the cardholder enters to authorize payment.

Debit card: Thumbs up

Using your debit card at ATMs is one recommended way to get cash when traveling abroad. "We consider the ATM to be the best choice in terms of convenience, exchange rates and fees," Meyers says.

Fees vary by institution. Some charge a flat rate, others charge a percentage, and still others charge both, Meyers says. To save money, keep ATM trips to a minimum.

"If your bank charges a flat rate for the withdrawal, you should certainly minimize your trips to the ATM by withdrawing larger sums each time you go," Meyers says.

And do your homework. Stallings says if you take money out of a bank that has a relationship with your bank, you may be able to avoid some fees.

Heads up:  Meyers advises to call your bank before you go to ask about fee structures for ATM withdrawals. Each bank has its own fees for ATM debit card withdrawals.

Prepaid card: Neutral

Prepaid cards for foreign use are becoming more widespread. For example, one major card company has started to offer prepaid cards free of the typical recurring fees. It also snubs foreign transaction fees, and it charges the same rate as its regular credit card when converting currency.

Another company offers a prepaid chip and PIN card, which allows travelers to load up on euros or pounds and use it like a debit card. They can be a good option for Americans traveling without a card using chip and PIN technology.

Stallings says one upside to chip and PIN prepaid debit cards is they can be used in an automated payment machine to buy train tickets and to pay at unstaffed gas pumps and highway toll booths in Europe. You lock in the exchange rate at the time you load or reload it.

Prepaid cards are also convenient and safe since they reduce the need to carry as much currency and because a PIN is usually required to take out funds, Stallings says.

Heads up:  Stallings warns that some prepaid debit cards can come with substantial fees, may not be usable everywhere and can leave you without funds if stolen. He advises to read the fine print before purchasing.

Airport or hotel exchange desk: Thumbs down

Airport exchange desks have some of the highest currency exchange rates, which means you pay more in dollars for conversion.

Meyers of EuroCheapo.com recommends walking straight past the currency exchange counter upon arrival or in the airport baggage claim area. "These companies pay a lot of money to rent those spaces, and they make it up through service fees and lousy exchange rates," he says.

Airport exchange desks depend on their convenience to make money. You'll be better off finding an ATM in the airport and using your debit card to get cash.

Hotel exchange desks are just as pricey but for a different reason. "The hotels that still offer this service usually give awful exchange rates because the entire process is a hassle for them," Meyers says.

Heads up:  Don't be duped by the sign at the currency exchange counter claiming "no fees, no commissions." Meyers says they'll make their money through higher exchange rates, even if they don't charge you a direct fee.

Dynamic currency conversion: Thumbs down

Some credit card companies give U.S. consumers the option of paying in U.S. dollars or the local currency during a transaction abroad. It's called dynamic currency conversion. If you're not careful, dynamic currency conversion could cost you big time.

"Primarily in Europe, dynamic currency conversion allows your credit card purchase to be charged in your home currency. While this seems convenient, it is one of the worst deals in travel and should always be avoided," Fodor's Stallings says.

According to Meyers, it's always better to pay in the local currency when traveling. "The local bank there will convert it back into euros, and then your U.S.-based bank will convert it again into dollars. This adds an extra conversion, which is good for the banks but not for you," says Meyers.

The extra conversion means you will pay more in fees. "You basically pay twice for every dynamic currency conversion transaction -- once to your own bank for the privilege of using your card abroad and once to the company processing the transaction," Stallings says.

Heads up:  According to Stallings, you should insist that your transaction be charged in the local currency or just pay in cash.

Traveler's checks: Thumbs down

Sales of traveler's checks are in decline as travelers adopt new technology and more convenient methods of payment, says Brusilovsky of Travelex Currency Services. According to the U.S. Federal Reserve, traveler's checks peaked in the 1990s but have declined in use ever since. At their peak, there were more than $9 billion in traveler's checks outstanding. Now, there are only about $4 billion.

But they can still provide a safety net, Meyers says. "Many businesses abroad still accept traveler's checks, if they're made out in euros," he says. But, if they are made out in dollars, you'll need to convert them at a bank or currency counter, which can mean a fee or a lousy conversion rate.

Heads up:  A few hundred dollars in traveler's checks can be a good emergency fund if you have any trouble with your cards or lose your wallet, Meyers says.

Cash advance: Thumbs down

Getting a cash advance on your credit card is an easy way to break the bank, whether you're abroad or in the U.S.

Your card might offer a fair currency exchange rate, but the interest rate on cash advances can be high. Cash-advance interest rates are more than 20 percent on some cards, and the interest starts accruing as soon as you take out the advance. For example, one bank's reward card has a cash advance annual percentage rate, or APR, of 24.9 percent. There's also a fee tacked on for taking out the advance.

"Before you leave, call your bank and ask what it charges for cash advances abroad," Meyers says.

Heads up: If you're in a bind, it might be worthwhile to take a cash advance. Just make sure to pay it off before the interest has time to accrue.

CURRENCY CONVERTER RESOURCES

• Foreign transaction fee credit card chart
• 4 ways to minimize foreign currency risk
• Opening a foreign currency account