Using a Post Office Travel Money Card can be a convenient and secure way to manage your finances when you’re abroad. Like any financial service, it’s important to understand the fees and charges associated with the card to avoid any surprises and make the most of your travel budget. This guide breaks down the different types of fees you might encounter when using your Post Office Travel Money card, helping you travel smarter and spend wiser.
One of the most appealing features of the Post Office Travel Money Card is the absence of transaction fees when you spend in a local currency that is supported by the card and you have sufficient balance in that currency. For example, if you’re in France and have loaded Euros onto your card, a €50 purchase will simply deduct €50 from your Euro balance, with no extra charges. This transparent pricing makes budgeting while travelling much easier.
To ensure you benefit from these fee-free transactions, always choose to pay in the local currency of the country you are in whenever you are given the option, whether you’re paying in a shop or withdrawing cash. This avoids something called ‘dynamic currency conversion’, where a foreign bank or retailer converts the currency for you, often at a less favorable exchange rate and with added charges. Sticking to the local currency ensures you remain in control of your spending and avoid unnecessary costs.
However, it’s important to be aware of cross border fees. These fees apply when you use your Post Office Travel Money Card in a country whose currency is not supported by the card. For instance, if you were to use your card in Brazil, where the currency is the Brazilian Real, you would incur a cross-border fee because the Brazilian Real is not a currency option loaded onto the card. This fee is set at 3% of the transaction amount and covers the cost of currency conversion and administrative expenses. To minimize these charges, try to use your card in countries with supported currencies, or consider using alternative payment methods when travelling to regions with unsupported currencies. You can find a comprehensive list of supported currencies on the Post Office website.
Beyond transaction-related fees, there are also maintenance fees. To cover administrative costs, a monthly maintenance fee of £2 is applied to any remaining balance on your card 12 months after the card’s expiry date. To avoid this charge, it’s a good idea to either renew your card if you plan to travel again, or withdraw any remaining balance before this period. No maintenance fee will be charged if your balance is zero. Remember to check the expiry date on the back of your card, as Travel Money Cards are typically valid for up to 3 years.
Another fee to consider is the load commission fee. When you initially load your Post Office Travel Money Card with pounds sterling (GBP), a load commission fee of 1.5% is applied. This fee has a minimum charge of £3 and a maximum of £50. Factor this in when you are initially budgeting and loading funds onto your card.
Finally, be aware of cash withdrawal fees. A fixed cash withdrawal fee is applied each time you withdraw cash from an ATM, whether it’s at a UK Post Office branch or any ATM globally that accepts Mastercard. Additionally, it’s important to note that some ATM operators may also charge their own separate fees for cash withdrawals. These are independent of Post Office fees. The specific withdrawal fee varies depending on the currency. For example, withdrawing Euros has a different fixed fee than withdrawing US Dollars.
To help you plan your spending, here’s a summary of withdrawal charges for some popular currencies:
- EUR – Euro: Withdrawal charge: 2 EUR
- USD – US Dollar: Withdrawal charge: 2.5 USD
- GBP – Great British Pound: Withdrawal charge: 1.5 GBP
- AUD – Australian Dollar: Withdrawal charge: 3 AUD
- CAD – Canadian Dollar: Withdrawal charge: 3 CAD
For full details on all fees, including a complete list of available currencies, their associated withdrawal limits and charges, it’s essential to consult the official Travel Money Card terms and conditions. Understanding these potential fees empowers you to use your Post Office Travel Money card effectively, avoid unnecessary charges, and enjoy smoother, more cost-conscious travels.
