Travelex improves cash passport card

Travel money specialist Travelex has relaunched its foreign currency pre-paid card, Cash Passport, with new features and sharper pricing. Cash Passport is now a multi-currency card that allows users to load up to seven different currencies on to one card. The new facility will automatically draw on a second currency to complete a transaction if there are insufficient funds in the selected currency.

Travelex has removed its ATM and point of sale fees, which it claims is an industry first. The travel money market, with estimated sales of A$3.5 billion a year, has become a hotly contested market. Last year American Express launched its Global Travel Card with no expiry date and no inactivity fee. Commonwealth Bank has offered a multi-currency facility on its travel card for a couple of years.

Source: Banking Day