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New Zealand Post, Kiwibank and Visa are today launching “Loaded for Travel”, the world’s first reloadable multi-currency Visa TravelMoney prepaid card, set to change the way Kiwis pay when travelling overseas.
The Loaded for Travel card allows travellers to load up to five different currencies (NZ$, AUD$, US$, Euro and GBP) on the same card and it can be used for purchases at millions of retailers and for withdrawing cash at 1.6 million ATMs worldwide. It is the first multi-currency card in New Zealand and the world’s first multi-currency Visa TravelMoney prepaid card.
The card will provide travellers with a number of benefits over cash including the security of Visa and the ability to lock in exchange rates. Because cardholders lock in an exchange rate when they load funds onto the card, they can try to take advantage of favourable rates and limit currency conversion fees to the time they load money onto the card, not every time they use it.
”Visa TravelMoney prepaid cards offer a convenient and secure payment option for travelers around the world. The introduction of first multi-currency Visa Prepaid Travel card by the New Zealand Post and Kiwibank makes it even easier for Kiwis to manage their finances when abroad and is a great example of how innovation continues to enhance the ability of prepaid cards to meet consumer needs,” says Visa’s New Zealand Country Manager Sean Preston.
New Zealand Post (Kiwibank) Payment Services General Manager Terese Tunnicliffe says the Loaded for Travel Card is a smart way to pay when you’re travelling overseas.
“By marrying the cost control and security of a Visa Prepaid card with the ability to lock in the exchange rates when they load their card, cardholders will be able to enjoy safe and convenient spending abroad. And, to make things easier for customers they can also add on travel insurance and put their mail on hold when they purchase their card,” says Ms Tunnicliffe.
Loaded for Travel cards can be purchased at any of the 320 PostShops around the country and foreign currency can be loaded in-store via cash, EFTPOS, credit card and debit card, and re-loaded here and overseas via the internet. Kiwibank customers can also order and pay for their card on internet banking.
Cardholders can check the balance on their card and transaction information online at www.loadedfortravel.co.nz on a service called ‘My Account’, via ATMs or via TXT and email alerts.
The Loaded for Travel Card costs $12 and comes with one free currency load with each additional initial currency load costing $2. The card is valid for three years and can be reloaded any number of times for a $10 reload fee.
Loaded for Travel Visa TravelMoney prepaid card
New Zealand Post, Kiwibank and Visa have launched “Loaded for Travel”, the world’s first reloadable multi-currency Visa TravelMoney prepaid card.
Key features include:
The Loaded for Travel card allows travellers to load up to five different currencies (NZ$, AUD$, US$, Euro and GBP) on the same card.
The card will automatically access the appropriate currency when making purchases overseas. If you’re spending in a currency that’s not loaded, the amount of your purchase or ATM withdrawal will be converted and deducted from the currency or currencies you have loaded, in this order: New Zealand dollars, Australian dollars, USA dollars, Great Britain pounds and Euros1.
The Loaded for Travel card can be used for purchases at millions of retailers and for withdrawing cash at 1.6 million ATMs worldwide.
The Loaded for Travel Card costs $12 and comes with one free currency load, with each initial load costing $2.
It is active for three years so you can reload the same card with the currency you need for each trip within those three years for a $10 reload fee.
Cardholders lock in their exchange rates on the day they load the funds onto the card which allows them to try to take advantage of favourable exchange rates when they arise.
Money can be loaded onto the card via internet banking or by EFTPOS, debit card or credit card at your local PostShop.
Money can be reloaded onto the card both here and overseas via the internet.
The following limits are applied in NZ$ or the foreign currency equivalent:
Minimum load per wallet NZ$100
Maximum load per day NZ$9,500
Maximum balance any one time NZ$20,000
24 hour ATM withdrawal limit* NZ$2,500
24 hour purchases limit* NZ$5,000
*ATM withdrawals and purchases combined cannot exceed NZ$5,000 per day.
Balance and transaction information is available through www.loadedfortravel.co.nz on a service called ‘My Account’, via ATMs or via TXT / email alerts.
Loaded for Travel cards can be purchased at any of the 320 PostShops around the country.
Cardholders have a choice of two card designs.