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Managing your Travel Card
The OzForex Travel Card makes it simple to manage multiple currencies within our online customer portal. The card can be loaded with Australian Dollars (AUD), which can converted into any of the following currencies:
- US Dollars (USD)
- Euros (EUR)
- Great British Pounds (GBP)
- New Zealand Dollars (NZD)
- Hong Kong Dollars (HKD)
- Singapore Dollars (SGD)
- Canadian Dollars (CAD)
- Japanese Yen (JPY)
Once you have loaded AUD onto your card, log into your card account to convert into any of these currencies. Go to 'My Currencies' and 'Create New Wallet' and select the currency you wish to convert to.
Go to 'Convert My Money' and follow the prompts to convert your money.
Why are the exchange rates for the Travel Card different to the rates I get when using your money transfer service?
a) When you make an international transfer or payment we are sending the money from one bank account to another, it is a straightforward process that involves only OzForex and its banks.
b) The OzForex Travel Card is a different product or service which allows you to transact globally in any of the 31m locations that MasterCard is accepted. This flexibility and convenience does incur a cost, for example, payment processing fees and card production costs and is reflected in the exchange rates. Despite this, the OzForex Travel Card exchange rates remain competitive in the Travel Card Industry.
c) The OzForex travel card is a competitive way to pay for your purchases overseas when you compare it to getting cash in advance from your credit card, using travellers cheques or using your debit or credit card – plus you know the rate you have locked-in in advance.
d) Of course if your trip involves large payments for things like hotels and you have the opportunity to pay for them before you leave you can always use the normal OzForex service to pay for these.
What happens if I don’t have enough money in my wallet?
a) When you have not loaded the currency of the country you are using your card in one of the wallets
There is no need to worry if you travel to a country where the currency is not offered on the card. The OzForex Travel Card will automatically take the funds from one of your other wallets so long as you have enough funds in one of them to cover the transaction and convert to the currency of the country that you are in. The order in which the funds are taken are as follows: Australian Dollar, US Dollar, Euro, Great British Pound, New Zealand Dollar, Hong Kong Dollar, Singapore Dollar, Canadian Dollar and Japanese Yen.
For example you are in Thailand and your card is loaded with New Zealand Dollars (NZD) and Hong Kong Dollars (HKD). Any transaction on your card will automatically use whatever currency is highest in the currency order and convert them to Thai Baht. In this situation, your New Zealand Dollars will be converted to pay for the transaction. Note that a currency conversion fee will apply as Thai Baht is not offered.
Note the full transaction amount needs to be converted from one wallet only. This means the transaction will be declined if you do not have enough in any one single wallet to cover the transaction, even if the combined total balance of all your wallets is enough to cover the transaction.
b) When you do not have enough in the local currency, but have enough in another currency to cover the transaction.
Say you are buying a t-shirt in New York and you do not have enough US Dollars (USD) to cover the transaction, but hold enough Australian Dollars (AUD). Instead of declining the transaction, we will convert the amount in AUD to USD to cover your transaction. A currency conversion fee will not apply as AUD is offered on your card.
Note the full transaction amount needs to be converted from one wallet only. This means the transaction will be declined if you do not have enough in any one single wallet to cover the transaction, even though your combined total balance of all the wallets is enough to cover the transaction.
c) When a fee applies (e.g. card replacement)
When a fee applies it will be converted and charged from AUD to the currency which is highest in your default currency order, so long as it has enough balance to cover the fee.
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Disclaimer
The OzForex Travel Card is issued by Macquarie Bank Limited ABN 46 008 583 542, AFSL No. 237502 (MBL). This information is for general information purposes only. It does not take into account any of your potential personal objectives, financial situation or needs. Before acting on this information, you must consider its appropriateness having regard to your own objectives, financial situation and needs and obtain your own independent advice about whether to obtain or continue to hold a Card. You should read and consider the current Product Disclosure Statement ("PDS") available at www.ozforex.com.au/travel-card (which you agree to be provided by accessing this link) before making any decision about whether to acquire or continue to hold a Card. Full terms and conditions are set out in the PDS. Fees and charges may apply if you obtain or continue to hold a Card. OzForex Pty Ltd's (ABN 65 092 375 703, AFSL No. 226 484) Financial Services Guide is available at www.ozforex.com.au/travel-card and you agree to its provision to you by accessing this link. MasterCard® and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated. BPAY® Registered to BPAY Pty Ltd ABN 69 079 137 518.
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