More travellers more prepaid cards

first_imgOutbound tourism in Australia, matched with the strength of the Aussie dollar has seen an increase in the popularity of travel cards. With over seven million outbound Australian tourists and figures expected to exceed 10 million by 2020, Australian company OzForex is set to launch its new online prepaid travel card. Offering free currency reloads, low ATM fees, heightened transparency and greater exchange rates; OzForex said it is determined on shaking up the industry. “Most travel cards are seen as a lucrative product, but poor exchange rates and high or even hidden fees mean that they don’t deliver good value for travellers,” OzForex chief executive Neil Helm said. “At OzForex, we’re ready to change that. Because we are a currency specialist, not a bank, we are able to offer rates at much tighter exchange rates than other providers.” The main difference between OzForex’s new product and similar cards on the market is the inclusion of fee-free online reloads. “Instead of paying an extra 1 – 1.1 percent for every currency reload, customers will be able to recharge the OzForex Prepaid Travel Card as much and as often as they like, paying only the basic exchange rate while enjoying considerable savings,” Mr Helm said. Independent financial comparison website Mozo said the card is suitable for all travellers, especially those planning on visiting multiple destinations. “The OzForex Travel Card is one the most competitive multicurrency cards on the market, mainly due to the absence of reload fees. It is 100% online so it offers flexibility and convenience that other cards don’t,” Mozo representative Kirsty Lamont said.“We offer nine different currencies on the card as we recognise that business and leisure travellers visit a wide range of destinations and therefore need a card that supports multiple currencies,” Mr Helm added. Source = e-Travel Blackboard: P.Tlast_img

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