Commonwealth Bank and MasterCard has launched the first prepaid travel card, enabling travelers to lock in the exchange rate of up to six prominent currencies on one card.
The Travel Money Card is accepted at more than 28 million locations worldwide, including more than one million ATMs and wherever MasterCard is accepted.
The new card can be loaded with US dollars, British pounds, Euros, Australian, New Zealand and Canadian dollars.
The card will allow holders to avoid fluctuating exchange rates, international transaction fees and keep track of their spending with phone and online support. It attracts a flat ATM withdrawal fee and has no fee for customers using the card in-store, online or over the phone, at Point of Sale merchants, and transferring between currencies on the card does not attract a fee.
