Travelex money card review: Is it good for overseas use?

Traditionally, it’s been tricky to spend money when you’re abroad without racking up big charges; both your home bank and foreign ones can end up charging you if you use an Australian debit or credit card when you’re out of the country. That’s where travel money cards come in.

One popular option for Aussie travellers is from travel money specialist Travelex. This guide is going to break down the Travelex Travel Money Card, including what it is, if it’s safe, and how it all works. You can also learn more about the Wise card, an easy way to stretch your dollars when paying in foreign currencies.

What is the Travelex Money Card?

The Travelex Money Card is an extremely well-rated travel card, designed for overseas spending. It supports 10 currencies for holding but can be used to spend online or in-store at locations around the world.

Is the Travelex Money Card safe?

The Travelex Money Card comes with several features to help ensure your funds are secure, making it a relatively safe choice to store your holiday spending money.

• Monitored daily for unusual activity
• Access to emergency funds
• Protected by Mastercard’s Zero Liability
• 24/7 Mastercard Global Support
• Temporarily lock the card if lost or stolen
• Not linked to a bank account, so your main balance can’t be compromised

Travelex Money Cards are issued by EML Payment Solutions Limited, who hold an Australian Financial Services License, number 404131. This means they have to comply with any regulations that are relevant to the services they offer.

How does the Travelex Money Card work?

Using the Travelex Money Card is relatively straightforward for Australian travelers.

1. Order your Travelex card online or in-store, making sure you have a passport or driver's license on hand.
2. Wait up to 7 business days for the card to be delivered to your home or collect it from a Travelex store.
3. Activate your card by registering for an account online or via the Travelex app.
4. Manage and check your balance online or through the app, topping up the account as needed.

Once funds are loaded, you can use the card anywhere Mastercard prepaid cards are accepted. This includes millions of merchants worldwide, from restaurants, shops, and hotels, to online retailers and tourism operators. The app also lets you track your spending as you go.

Key features

The Travelex Money Card is designed to be simple and user-friendly, though it’s less comprehensive than multi-currency solutions like Wise. Here are the key features:

• Hold funds in 10 currencies
• Manage online or through the Travelex mobile app
• Compatible with Google Pay and Google Wallet
• Able to earn cash rewards with Mastercard Travel Rewards
• Hold a balance worth up to 50,000 AUD

The 10 currencies the card can hold balances in are the following: EUR, GBP, USD, JPY, NZD, THB, CAD, SGD, HKD, and AUD. This is great for people travelling to places that use those currencies, but less so when going to places with other currencies, such as Indonesia, Vietnam, or China. If you're looking for a card with more currency options, the Wise card allows you to hold and manage currencies.

Fees and charges

The Travelex Money Card is marketed as a low-fee option, but it’s important to understand the costs involved. Here are some of the main fees associated with having a Travelex card.

As you can see, the charges are very reasonable, but with travel money cards in particular, the exchange rate can be just as important to consider when comparing costs.

Travelex Money Card’s exchange rate

Travelex has a few different exchange rates that are used depending on the transaction type.

• Exchange rate that applies when spending in currencies not supported for holding on the Travelex Money Card
• Exchange rate that applies to currencies held on the Travelex card when converting less than $2,000
• Exchange rate that applies to currencies held on the Travelex card when converting more than $2,000

By comparison, Wise keeps things simple. Wise uses the mid-market exchange rate with no hidden markups, essentially the rate you see on Google. To show how this compares, here’s a look at the exchange rates offered by Wise and Travelex for a few major currencies when converting under 2,000 AUD.

*As seen on 26 July 2025

As you can see, for these currencies, Wise was consistently better. Since Wise uses the mid-market rate, it indicates that Travelex adds a markup to the exchange rate. As you convert and spend money while you travel, this exchange rate difference can quickly add up, possibly costing you more overall.

Is the Travelex Money Card good?

Travelex is generally well-regarded by its customers. On Trustpilot, it’s rated 4.5 with over 20,000 reviews. Many first-time users appreciated the straightforward instructions and overall simplicity of using the Travelex Money Card.

Taking a look at the pros and cons:

The Travelex Money Card is a simple and convenient way to manage spending in multiple currencies while travelling, especially if you want a straightforward, prepaid option. However, as the rate comparison shows, Travelex’s exchange rates can come with a markup, which means you might pay more without realising it.

If you want more transparency and access to the mid-market rate, as well as virtual cards, Wise may be worth considering.

Bring the Wise card to spend in 150+ countries at mid-market-rate

The Wise card is a simple way to save up to 7x when you're spending internationally. You can spend in 150+ countries at mid-market rate — basically the rate you see on Google. With no foreign transaction fees and low, transparent pricing, Wise usually gives you the best value for your money.

Simply create a Wise account for free, order a card and top-up AUD to get started. Having a physical Wise card allows you to make chip and pin payments, as well as make some free ATM withdrawals each month for when you're abroad. You can get digital cards and add to your Google or Apple Pay wallet for instant use. Spend directly with the Wise account in AUD and let auto-conversion do the trick or convert in advance to your desired currency. You can hold and exchange 40+ currencies in your Wise account and spend the currencies you hold for free.

Wherever your travel takes you, the Wise card makes spending money abroad cheaper and easier.

🚀 Get your Wise card