Your Money Abroad: Travel Cards, Credit Cards & Getting Local Cash

Lu Nicholas
1 day ago
10 min read

Everything nervous travellers need to know before they leave home without the financial jargon.

Let me guess. You have spent weeks planning your trip - the flights, the accommodation, the must-see sights - and then suddenly remembered: how am I actually going to pay for things over there?

You are not alone. Money is one of those travel topics that feels more complicated than it needs to be, and a lot of first-time travellers either show up with the wrong card, get stung by fees they didn't know about, or end up exchanging cash at the airport at a terrible rate because they ran out of time to plan.

This post is going to change all of that. By the time you reach the end, you will know exactly which cards to consider, which fees to watch out for, how to use ATMs overseas without getting ripped off, and why there is one question the ATM will ask you that you should always say no to.

Quick note: I am an affiliate for Wise, one of the cards I recommend below. This means I may earn a small commission if you sign up through my link, at no cost to you. I only recommend products I genuinely believe in - and Wise is one I use myself.

First Things First: Why Your Everyday Bank Card Can Be Expensive Overseas

Most standard Australian bank cards - the ones you tap at the supermarket without a second thought - come with a hidden cost when used overseas. It is called an international transaction fee, sometimes called a foreign transaction fee, and it typically adds 2 to 3.5 per cent on top of everything you spend.

That might not sound like much, but on a two-week trip where you spend A$5,000, that is anywhere from A$100 to A$175 disappearing into your bank's pocket, and that is before any ATM fees on top.

There is also the question of the exchange rate. Even cards with "no foreign transaction fee" may still build a margin into the exchange rate they apply - meaning you are not getting the true mid-market rate (the one you see on Google or XE.com) but a slightly worse version of it.

Nervous traveller tip: Before your trip, check your current bank card's Product Disclosure Statement or call the bank and ask: "What is your international transaction fee, and what exchange rate do you use overseas?" You deserve a straight answer.

The Cards Worth Having in Your Wallet

The good news is that there are some excellent options available to Australians - some purpose-built for travel, others everyday bank accounts that happen to be brilliant overseas. Here is a rundown of the ones worth knowing about.

Wise Card - My Top Recommendation for Travellers

If I had to recommend just one card for nervous first-time travellers, this would be it. The Wise card is a prepaid debit card linked to a free multi-currency account, and it is built specifically for spending abroad.

Here is what makes it stand out:

No foreign transaction fees. You spend in local currency and Wise converts at the real mid-market exchange rate — the same rate you see on Google.
Hold 40+ currencies. Load Australian dollars and convert in advance when the rate looks good, or let Wise convert automatically when you pay.
Free ATM withdrawals up to A$350 per month across two withdrawals. After that, a small fee applies (currently A$1.50 + 1.75% per withdrawal). Great for those who want some cash on hand without committing to a lot.
No monthly or annual fees. You pay a one-off A$10 card fee to get your physical card. That is it.
Virtual card available immediately. Once your account is verified, you can add a digital card to Apple Pay or Google Pay and use it before your physical card arrives.
Freeze and unfreeze instantly in the app — a huge comfort for nervous travellers who worry about card security.
Accepted in 150+ countries on the Mastercard or Visa network.

The Wise card works best for card payments and lighter cash use. If you are planning to withdraw a lot of cash regularly, it is worth pairing it with another card for those moments.

Ready to get your Wise card? Sign up using my affiliate link and you can get started today. Click here to sign up.

ING Orange Everyday - An Australian Favorite

If you already bank with ING, or are looking for a fee-free everyday account that doubles as a great travel card, the Orange Everyday is one of the best options in Australia right now.

As of October 2024, ING removed the old monthly hoops you used to have to jump through to get the overseas fee waivers. Now it is automatic:

No ING international transaction fees on purchases overseas or online in foreign currencies.
No ING ATM withdrawal fees internationally (though third-party ATM operator fees may still apply - more on that shortly).
No annual fee.
Works anywhere Visa is accepted.

It is worth noting that while ING waives their own fees, the ATM you use overseas might charge its own operator fee regardless. The key is to keep withdrawals fewer and larger to minimise this cost.

Helpful habit: Set up a travel alert in the ING app before you leave. Go to Settings > Use card overseas and enter your travel dates and destinations. This reduces the chance of your card being flagged and temporarily blocked for unusual activity.

Bankwest Zero Platinum - Best No-Fee Credit Card for Travellers

If you prefer to pay on a credit card rather than a debit card - perhaps for added purchase protection or because some hotels require a credit card for deposits — the Bankwest Zero Platinum is worth a look.

No annual fee.
No foreign transaction fees.
Available as a digital card.
Up to 55 days interest-free if you pay your balance in full.

Important credit card caveat: never use a credit card to withdraw cash from an ATM overseas. You will be charged a cash advance fee (typically 3% or more), no interest-free period applies, and ATM operator fees still stack on top. If you need cash, use a debit card.

Revolut - Worth Considering for Frequent or Tech-Savvy Travellers

Revolut has a loyal following among Australian travellers, particularly those who enjoy managing their money through an app. The free standard plan offers no-fee currency conversion up to a monthly limit, with a small fee (0.5%) applied above that. Free ATM withdrawals are available up to A$350 per month.

Revolut also offers paid plans with higher limits and extra perks, which can be worthwhile if you travel frequently. That said, for most first-timers, the free tier alongside a Wise card covers most bases comfortably.

Other Cards Worth Mentioning

A few other Australian bank accounts also offer no-fee international spending:

Macquarie Transaction Account - no foreign transaction fee, no ATM fee from Macquarie.
Up Bank - no foreign transaction fees on the debit card.
HSBC Everyday Global Account - hold up to 10 currencies, no foreign transaction fee.

If you already have accounts with any of these providers, check whether you qualify for the travel benefits - you may already be set without needing a new card at all.

Rule of thumb: Always ensure you have at least 2 cards that can be used overseas. If you lose a card in an ATM or have unexpected charges due to being scammed you can confidently put one card on hold and use the other. Money transfer between accounts is easy so ensure everything is set up in your bank app to reduce stress if you do happen to need your secondary card.

Using ATMs Overseas: What You Need to Know

Most travellers these days rely almost entirely on card payments while overseas - and that is perfectly reasonable. But there will be moments when you need local cash: a small market that only accepts notes, a taxi driver who waves away your card, or a country where cash culture is simply the norm.

Here is how to handle ATMs overseas with confidence.

Withdraw Larger Amounts Less Often

ATM withdrawals - especially internationally - often comes with some kind of operator fee charged by the machine itself, regardless of what your own bank charges (or doesn't charge). The smart approach is to withdraw a useful amount of cash in one go rather than making multiple small withdrawals. Instead of taking out A$50 three times, take out A$150 once.

Rule of thumb: Think about how much cash you might realistically need for a couple of days, and withdraw that in one go. You can always spend down the balance before your next withdrawal.

Use ATMs Attached to Banks, Not Standalone Machines

Standalone ATMs - the ones you often find in tourist areas, convenience stores, airports, and shopping centres - tend to charge higher operator fees than ATMs attached to a physical bank branch. When possible, look for ATMs that belong to reputable local banks. They are generally more trustworthy, better maintained, and less likely to charge excessive fees.

In some countries, certain bank partnerships can help. For example, if you hold a card with a specific network, the ATM locator in your bank's app may help you find nearby low-fee or partner machines. The Wise app, for instance, includes an ATM locator showing machines that typically do not add fees on top of Wise's own charges.

Rule of thumb: Ensure you use the ATM attached to the bank during bank hours. If something happens and you lose your card in the machine it is easiely retreivable.

The Golden Rule of Overseas ATMs: Always Pay in Local Currency

This is the single most important piece of advice I can give you about using ATMs abroad, and it is worth reading slowly.

When you insert your card at an overseas ATM and enter the amount you want to withdraw, the machine may ask you a question along these lines:

"This ATM offers conversion to your home currency. Would you like to be charged in Australian dollars or in [local currency]?"

This feature is called Dynamic Currency Conversion, or DCC. And while it sounds like a helpful service - "great, I can see the price in Australian dollars!" - it is almost always a bad deal for you.

Here is why: when you accept DCC, you are handing the currency conversion over to the ATM operator or their bank. They set the exchange rate, and it is typically significantly worse than the rate your own card would apply. Studies have found DCC markups commonly range from 3% to 7% , and in some cases even higher. You are essentially paying for the "convenience" of seeing a familiar currency on the screen - and paying a lot for it.

The answer is always: decline DCC and pay in the local currency.

When you choose the local currency, your own bank or card provider handles the conversion. If you are using a Wise card, that means the mid-market rate. If you are using the ING Orange Everyday, it is ING's rate. Either way, it will almost certainly be better than letting the ATM do it.

What to do: When the ATM or card machine screen asks about conversion, look for the option that says "local currency", "continue without conversion", "decline", or simply shows the local currency amount. Select that. If the ATM does not offer you a choice, or only offers one option that converts to AUD, find a different machine.

What About Credit Cards at ATMs?

Avoid this entirely unless it is a genuine emergency. Using a credit card to withdraw cash at an overseas ATM is called a cash advance, and it comes with immediate interest charges (no interest-free period), a cash advance fee on top, and any ATM operator fees. The costs can stack up quickly. Stick to debit or prepaid travel cards for cash withdrawals.

What About Getting Cash Before You Go?

Exchanging currency before you leave is less common than it used to be, and for most destinations it is not necessary - your card (particularly a Wise card or ING Orange Everyday) will serve you just as well or better than pre-exchanged cash.

That said, there are situations where having a small amount of local currency in hand when you land can be useful:

Countries where cash is heavily used from the moment you arrive (such as Japan, Vietnam, or many parts of Eastern Europe and the Middle East)
To cover your very first transport from the airport, just in case
For peace of mind if you are a particularly anxious traveller

If you do want to exchange some currency before you leave, avoid airport exchange counters in Australia - they typically offer very poor rates. Your options are:

Your bank - convenient but rates vary. Order in advance rather than walking into a branch.
Currency exchange specialists such as Travelex or local currency exchanges in the CBD - rates are often better than banks.
Online currency exchange services - some offer competitive rates with home delivery.

If you are using a Wise card, you can also convert your Australian dollars to a foreign currency within the Wise app in advance, locking in the rate when it looks favourable. This removes the need for a physical currency exchange entirely. You can set up alerts in the Wise app so you are notified when the exchange rate is favorable.

For most trips: Skip the physical currency exchange and rely on your Wise card or a fee-free debit card for both card payments and ATM withdrawals. You will almost certainly get a better rate and save yourself the hassle.

Before You Leave: A Money Checklist

Here is a simple checklist to run through before you board:

Order your Wise card (allow a few business days for delivery, or use the virtual card immediately via Apple Pay or Google Pay).
Check your everyday bank card - does it charge international transaction fees? If so, try not to use it for overseas purchases.
Set up a travel notification in your banking apps (most Australian banks offer this) so your cards are not blocked for suspicious activity.
Save some cash for emergencies - a small amount of local currency or a backup card.
Know your PINs - many overseas ATMs do not support contactless and require a PIN. Make sure you know all your card PINs before you travel.
Screenshot or write down your bank's emergency numbers - if your card is lost or stolen, you will need to contact them quickly. You can often put your card onhold within your banking app.
Remind yourself: always decline DCC at ATMs and card machines. Local currency, every time.

Final Thoughts

Money management overseas is one of those things that gets simpler with experience - but you don't need experience to get it right from day one. You just need the right card, a basic understanding of fees, and the knowledge that a machine asking if you want to pay in Australian dollars is almost always trying to take more of your money.

My personal setup? A Wise card as my primary travel card for everyday spending and the odd ATM withdrawal, paired with a no-fee Australian debit card as a backup. That combination has served me well across close to fifty countries, and I've never had a moment where I couldn't access my money.

You've got this. Your wallet is ready. Now go book that trip.