Skip Navigation

Cash Passports

Travel Forums Europe Cash Passports

1. Posted by chalkers (Full Member 51 posts) 11y

Hey All,

I have heard something about cash passports through a friend of mine and was wondering if anyone has ever used one. Are they worthwhile and easy to use??

Thanks,
Chalkers

2. Posted by Wocca (Inactive 3745 posts) 11y

Can you tell us just a little more of what you know about them ...

3. Posted by chalkers (Full Member 51 posts) 11y

I found this information on the web;

Cash Passport is a pre-paid, PIN-protected card that enables you to obtain local currency from over 800,000 VISA and PLUS ATM’s around the world - in effect, a plastic travellers cheque.

What's great about a Cash Passport Card?

Convenience

Cash Passport offers all the convenience of plastic with the security of travellers cheques. Cards can be purchased in any amount from $250 to $25,000, and give 24 hour access to funds with no daily withdrawal limits. You don’t have to be over 18 or have a credit rating (so it's ideal for students), and extra funds can be added whenever required.

Security

No value is kept on the card (all funds are retained on VISA’s host system), so if a card is lost or stolen, no-one can access your money (provided the PIN remains secret). For added convenience, you will receive a second card free of charge, so even if one is stolen you can still access your funds. 24 hour support is available, together with a cardholder website providing card balances, ATM locations etc.

Budgeting

With a Cash Passport there is no danger of overspending, which means that there are no unpleasant bills to come home to.

Im just wondering is anyone has used one before??

4. Posted by james (Travel Guru 4136 posts) 11y

I've never heard of it, and don't see the need when your bank's card (CBA, ANZ, etc) will work perfectly well in most ATMs around the world. Also bring a credit card.

5. Posted by GregW (Travel Guru 2635 posts) 11y

I have heard of these and looked into them before.

As far as I could tell, they have no advantage over having a regular ATM debit card. You still have to pay the international withdrawl fee (PLUS or CIRRUS fee). Exactly like your ATM card, your money is safe unless someone knows your PIN code. No withdrawl limits aren't really that useful - my ATM withdrawl limit is $700 a day, I think. If I am spending over $700 a day, I am on the WRONG vacation! And these cash passport cards only work in ATMs where your card would work anyway.

As well, you have locked your money into an inaccessible format. With my ATM card and my chequing account, I can access my account via telephone or the internet to move money around, pay off bills (VISA or AMEX) and put money in my chequing account from my savings if it starts to get low.

I suppose if you don't have a bank and ATM card, then it could be worthwhile. But if you already have an ATM card, what's the point?