Hi guys!
I'm wanting to buy a prepaid card which I can load up in USD. I've researched all of the ones available in Australia (AUD) but the currency conversion fee is too high to justify for me.
Is there any place in Australia where I can buy prepaid cards with USD loaded up?
Please don't say get a Citibank Plus account, I desperately want one but my income is too low :(
Minimum monthly transfer is $3000
transfer where ?
To the account
Err that is just a "special extra" they have currently
"Get 5% cashback on your Visa payWave purchases under $100, for four months, when you deposit $3,000 or more each month into a new fee-free Citibank Plus transaction account. Each monthly cashback is capped at $150".
Nothing to do with what you need that is just a BONUS if you did use it for that.
What you need to know before applying:
You must be over 18 years old
You need a valid email and Australian residential address
If applying for a joint account, you'll need your joint applicants details as well
The account can only be used as a personal account (not as a business account)
A Tax File Number (TFN). While it is not mandatory to provide your TFN, without this we are required to deduct tax at the top marginal rate
At least two of the following forms of identification - Australian drivers licence, Medicare card or Passport, so we can verify your identity electronically
I'm even going to say it again - Citibank Plus account
Have you seen the Commonwealth Travel Card? You can load USD on it.
If you're a student there's no application issue fees. Student Travel Card
https://www.commbank.com.au/personal/can/going-on-holiday/us…
Edited: OP will still need to eat CBA's exchange rate as they will need you to convert AUD to put USD in the card.
Thanks for the tip!
ok i edited my post. Just to restate what i wrote. And also please do check with the bank if the policy has changed.
"Last time I tried to load USD cash directly on it, they say they will have to convert my USD to AUD then back to USD (apparently it is SOP for them as CBA only allow changing foreign currency from AUD) and I will eat the spread twice.
So the work around is to open a USD business account (no ABN needed), load USD cash directly fee free and transfer the USD to the Travel Card. Till date I still got the USD business account for this purpose.
That is what I did for my US trip the last time."
Thanks, this is just what I was looking for.
You can also look into the Qantas Cash Card.
Wait on…
it is a DEBIT card not a CREDIT card
So just apply already ;)
your welcome.