Post Office Travel Money Card review

Our verdict
Get instant access to a multi-currency travel money card — but beware of the fees
There are lots of fees to watch out for with this card. Many other multi-currency cards won’t charge you to withdraw cash or top-up your account in pounds sterling, so there might be more cost-effective options to consider.
But the upside is if you’re just about to go abroad, you can get a Travel Money card almost instantly by visiting one of the thousands of Post Office branches around the UK.
The Post Office account also doesn’t feature on our list of best prepaid currency cards so it might be worth comparing these other options.
Pros
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Offers 20+ currencies, more than some multi-currency cards
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Get a card instantly in branch
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Manage account online or via the app
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24/7 support if card is lost or stolen
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Emergency replacement card sent to you while abroad
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Have up to three cards at any one time
Cons
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Fee for cash withdrawals (varies per currency)
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Commission fee to top-up the card in pounds sterling
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Maintenance fee if card is unused for 12 months
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Minimum £50 requirement
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Cross-border fee for using a non-supported currency
Post Office’s Travel Money Card doesn’t charge foreign transaction fees when you use it abroad and it allows you to hold multiple currencies. It may sound like the perfect travelling companion, but just keep in mind it has other charges you should be aware of.
What is the Post Office Travel Money Card?
The Post Office is offering a prepaid card which lets you convert and store over 20 currencies. The account can be managed online or through the Post Office travel app.
It can be used like a normal debit card and is accepted in more than 200 countries, wherever you see the Mastercard logo.
However, it does charge fees for withdrawing cash, topping up in pounds sterling and leaving the account dormant for a year.
How does it work?
When you apply, you will have to load at least £50 if applying in-branch and £10 if applying online or in-app onto the card in the first instance. You can either convert into the currency of your choice right away or add pounds to start with and exchange later on.
You will also automatically get sent your travel money card, which has to be activated before you use it.
To manage the account and transfer between currencies, you log in to the Post Office website or its Travel Money app. You can load more money onto the card online or by visiting a Post Office branch, though bear in mind there are fees for topping up the account with pounds sterling.
Loading the card with GBP incurs a 1.5% commission fee, with a minimum charge of £3 and a maximum of £50. To avoid this fee, it’s recommended to load your card directly in the foreign currency you’ll be using.
You then spend using contactless or by entering your pin (your welcome letter will include details of how to set one up).
The card can also be used to make cash withdrawals from machines that have the Mastercard logo or at Post Office branches in the UK. But a word of warning, you will be charged an ATM fee by the Post Office. How much varies between currencies, so make sure you check before you travel.
When you spend on the card, money will automatically be deducted from the wallet containing the relevant currency. If you don’t have a wallet containing that currency, the money will be deducted from another wallet at a conversion rate set by Mastercard at the time.
If you spend money in a currency other than the 20+ currencies that are supported by your card then you could be charged a cross-border fee.
If your card remains unused for 12 months, a monthly inactivity fee may be applied. This fee can deplete your balance over time if the card isn’t actively used.
What currencies can you hold?
You can load over 20 currencies onto the card. On the app, you have different wallets for holding each type of currency.
You can also transfer currency between different wallets through the travel app or online.
The full list of available currencies is available on the Post Office’s website.
What are the eligibility requirements?
To apply you just need to be over 18 and a UK resident.
If you want to pick up a card from a Post Office branch then you also need to show a valid ID like a passport, driving licence or EEA card.
How to open an account
There are 2 ways of applying for a Post Office Travel Money card:
- Order online through the Post Office website or via its Travel Money app. You just have to fill in your details and the card will usually arrive in 2 to 3 days
- Or if you don’t want to wait for the card to be delivered, you can pick one up at a Post Office branch. Make sure you bring a form of ID, such as a UK driving licence, passport or valid EEA card.
Once you’ve got the card, you just need to activate it. You should have been given a welcome letter which will explain how to do this. After you have followed the steps, your card is ready to use.
Pros and cons of Post Office Travel Money Card
Pros
- Offers 20+ currencies, more than some multi-currency cards
- Get a card instantly in branch
- Manage account online or via the app
- 24/7 support if card is lost or stolen
- Emergency replacement card sent to you while abroad
- Have up to three cards at any one time
Cons
- Fee for cash withdrawals (varies per currency)
- Commission fee to top-up the card in pounds sterling
- Maintenance fee if card is unused for 12 months
- Minimum £50 requirement
- Cross-border fee for using a non-supported currency
Our verdict: Is the Post Office Travel Money Card any good?
There are lots of fees to watch out for with this card. Many other multi-currency cards won’t charge you to withdraw cash or top-up your account in pounds sterling, so there might be more cost-effective options to consider.
But the upside is if you’re just about to go abroad, you can get a Travel Money card almost instantly by visiting one of the thousands of Post Office branches around the UK.
The Post Office account also doesn’t feature on our list of best prepaid currency cards so it might be worth comparing these other options.