When you travel overseas, you don’t want to look at the exchange rate you are getting on your credit card. And because you don’t want to look at it most people don’t. In fact, with most traditional routes you lose a ton exchanging currencies.
OzForex are a great Australian innovation. Basically, they are doing what is surely easy to do: offering currency conversion at a very, very low effective commission. I used it to transfer my vast wealth to Canada because the exchange rates offered were very close to spot and they had incredibly reasonable forward contracting.
Well now, you can take advantage of that as a traveller for smaller transactions with a pre-paid MasterCard. This seems well worth checking out. Sadly, they don’t offer this in Canada so I can’t try it out myself.