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Travelex Money Card vs Wise Debit Card - Which one is best for you?

We compare both Travel Money Cards, looking at fees, features, security and ease of use to help you save money when travelling.
Updated 16 August 2025
Summary:
  • Travelex has long been the go-to travel money card, but our research below confirms the Travelex Money Card offers poor value exchange rates and high fees compared to Wise's Debit Card.​
  • Savvy travellers are also aware that Wise offers far better exchange rates than Travelex. Wise's business model eliminates the fees associated with exchanging currencies, something we argue Travelex makes a lot of money from. Overseas media is repeatedly negative about Travelex's practices, and we are no fans of their solution for travel money.
  • Wise is far simpler to use, and unlike Travelex, you don't need to lock in the exchange rate when you top up the card. You can keep your money in NZD and be charged whatever the FX rate when you make your purchases. This avoids the need to think about what the NZD will do, and unlike Travelex, there's no 4%+ penalty for keeping your money in NZD and making a foreign currency transaction.

To help you understand the differences between the card, our review covers:
Advertising disclosure: We may receive payment if you sign up for a card via MoneyHub - please read our advertising policy for more details.
MoneyHub Founder Christopher Walsh shares his views on Travelex and Wise:
"I've never been a fan of the Travelex Money Card for many reasons, but until Wise came along, there was no alternative. However, things have changed, and New Zealanders can benefit from their hard-earned Kiwi dollars go further overseas with a Wise debit card. Best of all, Wise is a big British company and isn't going anywhere, so their unique offering is here to stay".

"Unlike the Travelex card, Wise cardholders don't need to worry about locking in an exchange rate to avoid a penalty 4% charge if they don't fund a 'wallet'. Many New Zealanders, myself included, keep their Wise balance in NZD and enjoy ultra-low fees and top-tier exchange rates on every transaction. If you've used a travel money card before and fretted about when to lock in an FX rate or how to get a better deal, the Wise card solves all of these issues".

"I expect people to order Travelex Money Cards still - that's their decision but they will lose a lot of money as a result. As the video explains below, any comparison you do now will always show the Wise debit card giving you more forex for your NZD. This means everything you buy overseas will be cheaper".
MoneyHub Founder Christopher Walsh

Why We Favour the Wise Debit Card for Savvy Travellers

The Wise Debit Card stands out because it offers unbeatable benefits for New Zealanders travelling overseas:
  • Best Exchange Rates: Get the real exchange rate every time, beating all other cards on the New Zealand market.
  • No Hidden Fees: Spend abroad with peace of mind - no surprise fees, just low costs and transparency.
  • 54 Currencies: Hold, convert, and manage 54 currencies with the best conversion rates—far better than competitors like Travelex.
  • Go Cardless: Seamlessly integrate with Apple Pay and Google Pay for a fully digital experience.
  • Low One-Off Fee: Get the card for a one-off $14 with no ongoing surprises (or avoid the $14 fee and get a digital Wise account). 

Why Choose Wise Over Traditional Travel Cards?
Unlike traditional travel cards, the Wise Debit Card keeps it simple—no tricky fees, confusing rules, or poor exchange rates. With lower fees and superior functionality, Wise outperforms its competitors, especially the Travelex Money Card. Plus, it's highly rated by our readers for ease of use and reliability.

Our Verdict: The Wise Debit Card is a no-brainer for anyone travelling or spending overseas. Using it lets you avoid confusing and expensive travel cards and enjoy smarter, cheaper spending.

​Join Thousands of Happy Travellers Who Love Their Wise Card
With its top-notch benefits and rave reviews, the Wise Debit Card has become the go-to choice for New Zealanders who want to save money and avoid the hassles of traditional travel cards. Whether you're a frequent flyer or planning a one-off holiday, Wise is the smart and simple way to manage your money abroad.

Three Must-Know Travelex vs Wise Facts - Fees, Rates and Other Key Differences

Both cards, Travelex and Wise, are Multi-currency prepaid cards.

This means you can load several currencies onto either card, which is helpful if you're visiting multiple countries. So, for example, you could have AU$500, £1,000 and €1,000 stored on one card in different 'wallets'. Then, when you top the card up, you can lock in the exchange rate or leave a balance in NZD and move it into a currency when you need it.

What exchange rate do you get? It differs between cards

This is very important to distinguish between the two cards. Travelex uses the 'Travelex rate', which is well understood to be lower than the interbank rate. Articles from the Financial Times (How I was fleeced by Travelex) and our research (see this video overview) support this case. The differences can be significant and add up the more you spend. Wise uses the interbank rate and adds a small commission, around 0.35%, and you can see how much currency you'll get at any time by visiting their website and using the currency tool.

What fees and charges do you pay? Travelex and Wise have very different fees.

1. Travelex is arguably fee-heavy. There is a card fee - Travelex charges "the greater of 1.0% of the initial load/reload amount, or NZ$10". For example, if you purchase a Travelex Money Card and load NZD$2,000, you would be charged $20 (NZD$2,000 x 1.0%=NZD$20) given that NZ$10 is the minimum charge. The less you load initially, the lower the fee, which we find confusing.

You need to load at least NZ$250 (or currency equivalent) per transaction. This makes it less flexible than the Wise card which lets you top up as little as 1 cent (or any amount you want).

Travelex also charges a "Monthly inactivity fee" (NZ$4/month after 12 months of no transactions) and a "Travelex Money Card closure fee" of NZ$10 when you close or Cash Out your Travelex Money Card.

Warning: Travelex also charges a "Currency conversion fee" if you use the card in a currency not loaded. This is the "Mastercard rate" plus "4.00% of the transaction value". This means you'll need to constantly fund a currency every time you top up to avoid the risk of being stung by this high fee. In comparison, you can top up a Wise card with NZD and any transaction made is done at the interbank rate, so you'll get the best exchange rate and the standard Wise fee. We estimate this to save people 90%+ of the costs charged by Travelex for most currencies.

2. Wise, by comparison, is far more straightforward and has a one-off $14 card application fee. This is charged when you order the card and covers the costs of posting it to you. All subsequent renewals are free, so you only pay this fee once. After that, you can load 1 cent or up to a million dollars for free via your bank account (or pay a surcharge to use a debit or credit card). There are no closure fees, inactivity fees or penalty currency conversion fees.

Pro Tip: Wise is far simpler to use, and you don't need to lock in the exchange rate when you travel. You can keep your money in NZD and be charged whatever the FX rate is during your purchases. This avoids the need to think about what the NZD will do, and unlike Travelex, there's no 4%+ penalty for keeping your money in NZD and making a foreign currency transaction.

Travelex vs Wise Comparison Table

The table below shows the differences between the cards. However, it's hard to see how this makes a difference until you load money onto a card.

The video below explains how you'll pay much more using the Travelex Money Card when compared to the Wise Debit Card. And that's before you take into account Travelex's 'closure' fees, 'inactivity fees' and unloaded currency surcharges.
Card Name
Number of currencies
What exchange rate will you get?
Card issue fee
Load fees
Travelex Travel Money
9
Travelex's own rates
1% of the initial top-up value
Free (but cardholders pay the Travelex FX rate which is below-market)
Wise Debit Card
50+
Interbank rate + around 0.35%
$14
Free (bank transfers)

Topping up $1,000 into EUR, USD, AUD and GBP - Travelex vs Wise

  • The video below shows you how much foreign currency you will get with NZ$1,000.
  • Try it yourself now for whatever currency you need using the Travelex tool and the Wise tool. All prices are live.
  • The differences add up - this is the main reason why we favour Wise over Travelex. You're paying less for exactly the same thing.
  • We found that the difference is anywhere between 2% and around 5%, meaning Wise 'charges' a lot less for foreign currencies than Travelex.

Travelex vs Wise - Pros and Cons

Travelex

Pros:
  • Widely accepted around the world
  • Can lock in an exchange rate in advance for eight foreign currencies

Cons:
  • Poor value exchange rates (compared to Wise and even most credit cards and debit cards).
  • Several fees are charged, including a closure fee and penalty fee for spending in currencies not loaded into a wallet.
  • A minimum NZ$250 top-up (for every top-up) is inflexible.
  • Negative MoneyHub user reports about using the card overseas and the support offered.
  • The company behind the card has a troubled financial history and recently entered administration to save the business from going bust.

More details: Travelex Money Card
Wise

Pros:
  • Widely accepted around the world
  • Can lock in an exchange rate in advance for 50+ currencies.
  • Best exchange rates with no Travelex-type fees
  • You can load NZD into 50+ currencies or keep it in NZD and spend as you go
  • An innovative app that live-feeds all purchases lets you freeze/unfreeze the card and top up from your bank account or card.
  • Connects to GooglePay and Apple Pay.
  • Top up as little as 1 cent

Cons:
  • None that we can identify.

More details: Wise Debit Card

Alternatives to Travel Money Cards

Both Travelex and Wise offer a safe way to carry cash overseas. However, they are prepaid cards, so you can't borrow if you have an emergency, nor can you use them to hire rental cars. We have reviewed the best debit and credit cards for travel - this guide explains the best options and what you need to know.

Our view: A credit card with low (or zero) currency fees on overseas spending is arguably a sensible option for purchases made when you're travelling. However, you will need to pay off all of the balance every month to be cost-effective.

We believe banks are not competitive regarding the fees charged when using a debit or credit card for a foreign currency purchase. However, there are some exceptions that this guide outlines.

Frequently Asked Questions

Are either of these Travel Money Cards cards secure?

  • Wise: The Wise card offers contactless purchases and Apple Pay and GooglePay integration (see below). If you're withdrawing money, a PIN is required. 
  • Travelex: Travelex is secure via PIN and also offers contactless payments. However, in 2020 a hacking scandal disabled cards all over the world and forced the company to resort to using pen and paper.

Do either cards connect to GooglePay or Apple Pay?

Wise integrates to both, and the setup is very easy. Unfortunately, the Travelex Money Card doesn't offer any integration, so you will need the physical card to make purchases.Coming soon

Can I claim for a chargeback if something goes wrong with a purchase?

Wise had a anti-fraud support desk, Travelex suggests cardholders call their helpline. However, for chargeback specific information, we suggest following the MasterCard or Visa chargeback scheme, which we outline here.

What happens if Travelex or Wise goes bust?

This question is reasonable given the parent company of Travelex, Finablr, almost went bust in early 2020, before later going into administration. Had it gone bust, there is no protection for the deposits on the Travelex Money Card. It may be held in a ring-fenced trust account, but if it's not, you will become an unsecured creditor of the company. Unfortunately, Travelex offers no information about this very important question.

Wise states that it "uses two approaches to safeguard your funds". This includes depositing the funds at banking institutions and investing them in government-backed liquid assets, primarily government bonds".

Where can I use the Travelex and Wise travel money cards?

Anywhere Visa or Mastercard is accepted - so, effectively, in millions of places worldwide. Of course, this means any ATM and website as well. 

However, there are some exceptions. For example, hotels may require a credit card (but not always) as a pre-authorisation check. Car rental agencies also usually require a credit card, so be conscious of this when planning a trip. 

Should I pay in NZD or the local currency?

Too often, 'Pay in NZD' flashes up on a card machine or ATM when you're overseas. This is called dynamic currency conversion and is usually best avoided. It always uses a lower-than-market rate to make money for the retailer and/or the card machine operator. Our guide to foreign currency exchange has more details.

What happens if my travel money card is lost or stolen?

With Wise, you can freeze the card using the app to prevent contactless payments. You can unfreeze the card if and when you find it again. If you need a new card, it will be mailed to you. 

Travelex requests that anyone who has lost or had their card stolen should call their helpline - no further information is offered about the process. 

Why We Favour the Wise Debit Card for Savvy Travellers

The Wise Debit Card stands out because it offers unbeatable benefits for New Zealanders travelling overseas:
  • Best Exchange Rates: Get the real exchange rate every time, beating all other cards on the New Zealand market.
  • No Hidden Fees: Spend abroad with peace of mind - no surprise fees, just low costs and transparency.
  • 54 Currencies: Hold, convert, and manage 54 currencies with the best conversion rates—far better than competitors like Travelex.
  • Go Cardless: Seamlessly integrate with Apple Pay and Google Pay for a fully digital experience.
  • Low One-Off Fee: Get the card for a one-off $14 with no ongoing surprises (or avoid the $14 fee and get a digital Wise account). 

Why Choose Wise Over Traditional Travel Cards?
Unlike traditional travel cards, the Wise Debit Card keeps it simple—no tricky fees, confusing rules, or poor exchange rates. With lower fees and superior functionality, Wise outperforms its competitors, especially the Travelex Money Card. Plus, it's highly rated by our readers for ease of use and reliability.

Our Verdict: The Wise Debit Card is a no-brainer for anyone travelling or spending overseas. Using it lets you avoid confusing and expensive travel cards and enjoy smarter, cheaper spending.

​Join Thousands of Happy Travellers Who Love Their Wise Card
With its top-notch benefits and rave reviews, the Wise Debit Card has become the go-to choice for New Zealanders who want to save money and avoid the hassles of traditional travel cards. Whether you're a frequent flyer or planning a one-off holiday, Wise is the smart and simple way to manage your money abroad.
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