What Are The Best Travel Money Cards For Canada

Best Travel Money Cards For Canada

Making payments while abroad can be pretty expensive, from bank fees and ATM charges to hidden currency conversations.

However, a good travel money card can offset these extra expenses.

This card, just like debit cards, credit cards, and prepaid cards, can be used to make payments and withdraw cash from ATMs throughout your trip.

The best travel money cards allow travellers to carry local currencies that can be accessed instantly with a swap. This makes them ideal for international travel.

So, for instance, if you intend to visit Canada, you will definitely be making transactions in Canadian dollars.

Here is a guide to the best travel money cards for Canada to help you get the most out of all monetary transactions during your trip.

The 6 Best Travel Money Cards for Canada

Travel Cards For Canada

1. Wise Multi Currency Prepaid Card

Pros

  • Over 40 currencies are available
  • Best exchange rates globally
  • No foreign transaction fees or hidden fees
  • Low conversation fees
  • Low cost of sending money internationally

Cons

  • No credit facilities
  • Daily and monthly limits on spending category
  • A one-time $9 (USD) fee to get the card
  • ATM fees may apply after three or more withdrawals worth more than $100 (USD) per month.

The Wise Multi Currency Prepaid Card is a travel money card linked to a Wise multi-currency account.

This travel money card uses mid-market exchange rates and is accepted in over 200 countries.

The Wise Travel Card is ideal for frequent travellers due to the several currencies available, including Canadian dollars and Australian dollars.

2. Travelex Money Card

Pros

  • $0 fees for international ATM cash withdrawals
  • Lock in exchange rates
  • Free card, both initial and replacement
  • 24/7 Emergency Assistance

Cons

  • Fees apply for ATMs in Australia
  • High cross-currency conversion plus extra charges like inactivity and closing fees
  • Limited number of currencies are available

Travelex Money Card has a reasonable lock-in rate and better online rates than most banks.

This money card also comes with free WiFi, making it a great choice for organised travelling, and it can be used wherever Mastercard is accepted.

Travelex has a minimum load of $100 and a maximum load of $100,000.

Additionally, if the card is lost or stolen, the cash on it can be accessed through Moneygram or Western Union agents at no extra charge.

3. HSBC Everyday Global Travel Card

Pros

  • Multiple currencies on a single debit card
  • Lock-in real-time rates
  • $0 international ATM fee and monthly fees
  • No cross-currency conversion fees
  • Cash can be withdrawn from any Visa ATM

Cons

  • Maintain a minimum balance of $2,000 or pay a $5 fall-below fee
  • Pre-loading and holding of only ten currencies
  • Local operator fees

This option is best for travellers who prefer withdrawing local cash, as the HSBC card can be used to withdraw cash from an ATM just like the everyday debit card.

Additionally, there is no maximum balance for any currency on the HSBC travel card.

With this travel card, you are entitled to a daily maximum ATM withdrawal of $2,000.

The card can be used anywhere VISA is accepted and offers a great exchange rate for Canadian dollars minus the hefty international ATM fees.

4. Bankwest Breeze Platinum Credit Card

Pros

  • The low-interest rate of 9.90%
  • No foreign transaction fees
  • Up to 55 days interest-free on purchases
  • Up to 95% of the approved credit limit can be transferred
  • A free annual fee on the first year
  • Complimentary travel insurance for overseas

Cons

  • Cash advance rates of 21.99% p.a.

Next on the list is the Bankwest Breeze Platinum Credit Card, with a minimum card credit limit of $6,000.

The Bankwest travel money cards can be used wherever Mastercard is accepted.

This card is accepted in most places in Canada and provides the option of Canadian dollar conversion, making it ideal for your trip there.

5. ING One Low-Rate Credit Card

Pros

  • $0 annual fee
  • No fees on international transaction purchases
  • Low cash advance interest rates
  • Installation payment option available for payment of purchases

Cons

  • No balance transfers
  • The free international transaction fees are conditional.

The ING One Low-Rate Credit Card is another travel money card you can operate on your trip to Canada.

This card can be used anywhere Visa is accepted.

Additionally, ING One charges a low cash advance rate compared to other travel money cards and the minimum credit card load is $1,000.

6. Revolut

Pros

  • 0% purchase fees, load, and reload fees
  • Good exchange rates
  • It can be used to transfer money across borders.

Cons

  • 2% ATM withdrawal fee on cash over $350 per month on the Standard account
  • $10.99 fee per month on the premium account

With Revolut, you get a foreign currency account for multiple currencies linked to a debit card.

This is another excellent travel money card you can use. However, the Revolut money card is the best option for large withdrawals.

Foreign Xchange Best Travel Money Card Tips

How Do I Pick the Best Travel Money Card for Me?

To pick the best travel money card for you when travelling overseas, consider the following:

  • Exchange rates (to avoid poor exchange rates), fees, or charges
  • Spending conditions and deposit and withdrawal limits
  • Security.

Are Travel Money Cards Worth It?

Yes, they are. Travel money cards are a safe option for making purchases conveniently overseas.

They remove the hassle of monitoring exchange rates and carrying huge amounts of cash around.

Other features that you get are:

  • You can load multiple foreign currencies onto one card and use it for ATM withdrawals.
  • Travel money cards are cost-effective, unlike travel credit or debit cards that charge currency conversion fees on purchases of international currencies.
  • A travel money card is not linked to your existing bank account, so if it’s lost or stolen, you can freeze it and still have access to other funds.

Can I Use Dollars in Canada?

In Canada, you can only use Canadian dollars, not American or the Australian dollar.

Thus, a travel money card is a suitable option.

Travel Money Smart With Foreign Xchange

Foreign Xchange can resolve any foreign currency conversion fee or other foreign currency issues you may have, whether you’re at home or abroad.

Contact us today for inquiries and assistance.

2024-05-24T03:13:23+00:00