The card includes free currency reloads, competitive exchange rates and online accessibility, which OzForex CEO Neil Helm said existing cards aren’t offering to busy travellers.
“Most travel cards are seen as a lucrative product, but poor exchange rates and high or even hidden fees mean that they don’t deliver good value for travellers,” Helm said.
The OzForex prepaid travel card has less fee charges than other providers, including no card issue fee, no reload fees, no monthly fees, no transaction fees for EFTPOS or purchases online and no transfer between currency fees.
“Instead of paying an extra 1-1.1 per cent for every currency reload, customers will be able to recharge the OzForex prepaid travel card as much and as often as they like, paying only the basic exchange rate while enjoying considerable savings,” Helm added.
Users will need to pay a one-off initial load fee of $AU15.00, but the travel card does offer low ATM withdrawal fees and balance enquiry fees. Safety and security is a priority, so OzForex has included a CHIP and PIN security, so if the card is lost or stolen it can be blocked and a free back-up card is issued.
To celebrate the launch of its new pre-paid travel card, OzForex is running a competition in which travellers can win a travel card loaded with $1000 each week, for eight weeks.