Comparing Yondr Money and Travel Money Oz: Which is the Best Travel Money Solution for You?

When it comes to travel finance, there are a few different options available. You can use your regular debit or credit card, but this can often result in high transaction fees and poor exchange rates. You can also exchange your cash for foreign currency before you travel, but this can be inconvenient and risky, especially if you're carrying a lot of money.

Two great travel money card solutions are Yondr Money and Travel Money Oz. Both of these services offer travel money cards that you can use to pay for goods and services overseas.

But which one is a great fit for you?

Which provider offers more currencies?

One of the key differences between Yondr Money and Travel Money Oz is the number of currencies you can load onto your card. Yondr Money allows you to load up to 25 different currencies, while Travel Money Oz only offers up to 10 different currencies.

This is an important consideration if you're planning on travelling to multiple countries with different currencies.

You get more money with a better exchange rate.

Another important difference is the exchange rates offered by each service. Yondr Money generally offers better exchange rates than Travel Money Oz.

For example, as of today (26/10/2023), the exchanged value of 1 AUD to GBP is 0.51224 with Yondr and only 0.4953 with Travel Money Oz.

This means that you would get more for your money if you used Yondr Money.

Example. If you were to convert AUD 10,000 to GBP.

• Yondr: AUD 10,000 * 0.51224 = GBP 5122.40 
• Travel Money Oz: AUD 10,000 * 0.4953 = GBP 4953.00 

Difference: GBP 5122.40 - GBP 4953.00 = GBP 169.40

You would get GBP 169.40 (AUD 324) more if you converted your AUD 10,000 using Yondr.

Account Creation and Spending

You can create an account and start spending in minutes with Yondr Money. You'll get instant virtual cards that you can use straight away before your physical card arrives.

This is ideal if you need to start spending money overseas immediately.

Travel Money Oz, on the other hand, takes a bit longer to get started with. You'll need to order your card online and wait for it to arrive in the mail, which can take up to 2 weeks.

What other features should you consider?

Yondr Money also offers a host of features to help you stay on top of your money while you travel, such as:

• Spend analytics: Track your spending by category and currency to see where your money is going.
• Budgeting tools: Set budgets for each trip and track your progress.
• Split, Request or send money: Split bills with friends or request money from them easily in the app.

Travel Money Oz has a more simplistic app.

Notable Fees

• Reload fees: Yondr Money has no reload fees, while Travel Money Oz has a 1.1% of the total amount reload fee for any reloads completed online.
• International ATM withdrawal fees: Yondr Money charges a flat fee of $5 for international ATM withdrawals, while Travel Money Oz charges a variable fee depending on the country you're in.
• Domestic ATM withdrawal fees: Yondr Money has a flat fee of $3.00 for ATM withdrawals, while Travel Money Oz charges a fee that is 2.95% of the amount withdrawn.

For the avid traveller seeking value and convenience, Yondr Money stands out as an exceptional option. With the ability to load up to 25 different currencies, superior exchange rates, and an intuitive app that allows for easy money management while on the move, Yondr provides significnt value. Its additional features like spend analytics and budgeting tools further elevate the user experience, making financial tracking a breeze during travels.

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Join thousands of Australians who have already downloaded Yondr

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Things you should know

This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice.

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