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Money Travel Awards 2016

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TRAVEL AWARDS COVER 2016Money Travel Awards Methodology

As well as flights and hotels, anyone heading overseas needs to think about the best way to take spending money, stay in touch and make sure they are protected but finding the best products can be hard.

Money teamed with research group finder.com.au to do the hard work for you and we're proud to bring you our inaugural Travel Awards.

Money reveals the best products in nine categories. Here is a look at the categories and the methodology. For the list of travel awards winners pick up a copy of the November issue.

money travel awards

TRAVEL MONEY

Best Travel Transaction Accounts

Transaction accounts were excluded from this category if they charged a monthly account-keeping fee that was unavoidable, and those that were not publicly available. Rankings were based on lowest overseas ATM withdrawal fee, followed by lowest overseas (EFTPOS) transaction fee.

Best Travel Money Cards

Rankings were based on the following:

  • Exchange Rate (based on the average of two AUD:USD exchange rates checked on September 15tand 16th September 2016) - 25%
  • ATM Fee - 25%
  • Establishment Fee - 20%
  • Reload Fee - 20%
  • Number of Currencies - 10%

Best Travel Credit Cards

Rankings were based on the following:

  • Foreign currency conversion fee - 30%
  • Annual fee (first year) - 20%
  • Purchase interest rate - 20%
  • Cash advance interest rate - 15%
  • Overseas ATM withdrawal fee- 10%
  • Number of interest free days - 5%

GLOBAL ROAMING

Best Global Roaming Service

Products were assessed on:

  • Cost of 100MB of data (as a typical daily usage figure based on ACMA data)
  • Cost of accessing the roaming service, including service fees and additional data bundles
  • Cost of making calls to/receiving calls from Australia.

Best International SIM

Products were assessed on:

  • Cost of 100MB of data (as a typical daily usage figure based on ACMA data)
  • Cost of accessing the service, including SIM cost and general call/bundle costs and duration
  • Cost of making calls to Australia
  • Cost of sending SMS to Australia

TRAVEL INSURANCE

Best International Travel Insurance

Rankings were based on the following:

  • Premium cost (Quotes were obtained on June 3, 2016, for a solo trip for a 30 year old, to travel on January 1-14,2017, to five separate destinations -USA, England, China, Italy and New Zealand. Ski and cruise coverage was excluded.) - 50%
  • Overseas medical expenses coverage 25%
  • Luggage and personal effects coverage 25%

Best International Travel Insurance Family

Rankings were based on the following:

  • Premium cost (Quotes were obtained on June 3, 2016, for a trip for four people aged 35, 35, 5 and 7, to travel on January 1-14, 2017, to five separate destinations - USA, England, China, Italy and New Zealand. Ski and cruise coverage was excluded.) - 50%
  • Overseas medical expenses coverage 25%
  • Luggage and personal effects coverage 25%

Best International Travel Insurance MultiTrip

Rankings were based on the following:

  • Premium cost (Quotes were obtained on June 3, 2016, for an annual worldwide multi trip for a 30-year old to travel from January 1, 2017. Ski and cruise coverage were excluded.) - 50%
  • Overseas medical expenses coverage 25%
  • Luggage and personal effects coverage 25%

Best International Travel Insurance Family Multitrip

Rankings were based on the following:

  • Premium cost (Quotes were obtained on June 3, 2016, for an annual worldwide multi trip for four people aged 35, 35, 5 and 7, to travel from January 1, 2017. Ski and cruise coverage were excluded.) - 50%
  • Overseas medical expenses coverage 25%
  • Luggage and personal effects coverage 25%

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