Travel debit cards to use overseas

What is a travel debit card?

A travel debit card is a regular debit card with features designed for travel. For example, the card may charge no international transaction fees on overseas purchases or no overseas ATM fees. Or, it may allow you to hold different currencies as well as AUD.

The debit card is attached to a bank account with your own money, and you can only spend what's available in the account. You can use the debit card to make purchases in stores or to withdraw cash from ATMs while you're overseas, just like you would here in Australia.

What's the best debit card to use overseas?

These debit cards either won or were named as finalists in the 2024 Finder Banking Awards for the Best Travel Debit Card category:

Winner: HSBC Everyday Global Account

The HSBC Everyday Global Account has no account keeping fees, no international transaction fees and access to free ATMs around the world. However what really makes this account a great travel option is that you can hold up to 10 different currencies in the one account.

Finalist: Macquarie Transaction Account

The Macquarie Transaction Account and debit card has no account keeping fees, no international ATM fees and pays a refund on any local ATM fees charged. Plus, you can earn a high interest rate of 2.75% p.a. on balances up to $250,000 in your account without needing to meet any conditions. So you can earn interest while you travel.

Finalist: Suncorp Everyday Options Account

This account has no monthly account keeping fees, no international transaction fees and no overseas ATM withdrawal fee by Suncorp (the ATM operator fees may still apply though). You can also link up to 9 sub accounts to your main account which could help you budget and manage your travel expenses and budget for your holiday.

Our expert says

"The good part about the ability to hold multiple currencies is that you can transfer money before you go. So when the Australian dollar is strong against a particular currency, I transfer money into that account, and then when I go, I just spend in local currency. That way, I'm not getting hit with a potentially higher exchange rate, or being forced to spend in AUD and charged for the conversion."

Alanna Glenn

Publisher

How to compare travel debit cards

Account keeping fees

Look for a debit card with no monthly account keeping fee.

Overseas ATM fees

This is charged by your bank when you use your card at an overseas ATM, and can be as much as $5 (or more) per transaction on top of the fee charged by the ATM operator. It's best to look for a debit card without this fee, if possible.

International transaction fees

This is charged by your bank when a currency conversion is needed (e.g.: when using your AUD card to make purchases in the UK). This fee can be as high as 4% of the transaction value. Luckily, there are several Australian debit cards that don't charge this fee.

Account accessibility

It's handy to choose a debit card from a bank that has a good mobile baking app, which you can use overseas to keep an eye on your account and transfer money if needed.

Multiple currencies

Some debit cards allow you to hold multiple currencies at once. This is handy for travelling as it allows you to load up on the currency you need ahead of your trip while the exchange rate is good.

Contactless payment options

Being able to link the debit card to Apple Pay or Google Pay could be helpful while you're travelling if you don't want to keep your physical debit card on you.

Safety features

Some debit cards will come with a 'card lock' feature in the attached mobile banking app that allows you to temporarily freeze or lock your card if you've misplaced it while travelling.

Is it better to use a debit card or credit card overseas?

Unlike debit cards which only allow access to the money in your account, a travel credit card offers a line of credit for you to spend what you need and then repay at the end of the payment period (usually monthly). This can be helpful to manage cashflow while you're travelling, so you know you'll always have money available.

However, if you don't repay it in full, you'll be charged interest at a fairly high rate. There are also annual fees and other charges for credit cards that debit cards don't have.

Some credit cards allow you to earn points or other rewards as you spend, which could end up allowing you to upgrade your flights from economy or use a special airport lounge. Some credit cards also offer things like complimentary travel insurance, which isn't offered with a debit card.

Frequently asked questions

• Should I use a prepaid debit card?

  Debit cards are not prepaid, they use the money that's available in your bank account. A prepaid card, instead, allows you to load up on currency before you leave. However, prepaid travel cards can often come with extra fees and charges.

• Do Australian banks have ATMs overseas?

  Some of the big banks do have ATMs overseas, or they'll be part of a global alliance or network of partnering banks. For example Westpac's global ATM alliance allows you to access tens of thousands of ATMs overseas.

• Do debit cards come with travel insurance?

  Debit cards typically don't come with travel insurance, this is more commonly offered with a credit card. There are a few debit cards that do offer insurance, for example the NAB Platinum visa Debit Card, however they usually also have a monthly account fee.

• Can you use a travel debit card online?

  Yes you can, and it's a great idea to do so. If you make an online purchase from a retailer located outside of Australia, you'd usually need to pay a foreign transaction fee of 3.5% (or more) on the value of your transaction. However if you opt for a debit card that waives this fee, you can save a fair bit of money.

Written by

Alison Banney

Editor

Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full bio

Alison's expertise

Alison has written 626 Finder guides across topics including:

• Superannuation
• Savings accounts, bank accounts and term deposits
• Budgeting and money-saving hacks
• Managing the cost of living