TID Travel Money Card

[Mattg]

Travel Insurance Direct seems to have a new Travel Money Card product. Does anyone have an opinion on it?

I've done a small amount of research myself. As far as I can tell, there are no load fees or any other ongoing fees as such. However, I compared the exchange rates to those used by Qantas Cash and Virgin Global Wallet, and the TID card fares slightly worse. Right now, AU$100 would get you USD$67.97 with QF Cash, or USD$67.65 with the TID card. Considering that you can also earn points with Qantas Cash and Virgin Global Wallet, I won't be rushing out to get this card personally.

However, the rates do seem slightly better than what you'd get with the major banks. $100 would convert to USD$67.47 on the Commonwealth bank travel card at this moment in time.

 

[Cynicor]

I guarantee its bad compared to Ctitidebit unless you want to lock in a rate because you believe the AUD will fall. These cards are all out to make money and either gouge on fees or the rate.

If you are aiming to compare travel cards, then fee free will be the best if you are loading and withdrawing small amounts, high (fixed) fee-better rate is obviously better if you are loading large amounts.

 

[Pushka]

I know this is unrelated but if going on a cruise the cruise line sets the exchange rate at the beginning of the season. Currently Princess exchange rate is 76 cents Aud to USD. I am buying onboard credit and prepaying a lot of things.

I received the email but when a product's only use is to load up cash (and not a credit card with merchant fees etc) then the only way for them to make a profit is in the hidden stuff that they extract from me.