ANZ Bank Cash Passport: A Detailed Analysis

The study provides a detailed analysis of ANZ Bank and its product Cash Passport. The product is specially designed for the customers that travel across the world. The study is focused towards understanding the product through systematic analysis of the various aspects that are connected with it.

Running head: ANZBANK: CASH PASSPORT
ANZBANK: CASH PASSPORT
Name of the Student
Name of the University
Author Note

1ANZBANK: CASH PASSPORT
Table of Contents
Introduction......................................................................................................................................2
Literature Review............................................................................................................................6
Project:.............................................................................................................................................9
Discussion......................................................................................................................................11
Conclusion.....................................................................................................................................14
References......................................................................................................................................15

2ANZBANK: CASH PASSPORT
Introduction
The study is focused towards providing a systematic and detailed analysis of the
organization ANZ Bank and its product Cash Passport. Cash passport is an effective way to carry
travel money at various travel destinations across the world. The study is focused towards
understanding the product through systematic analysis of the various aspects that are connected
with it. A project is created for the better evaluation of the product and enhancing its market
effectiveness subsequently. It is important to focus on the significant aspects that form part of the
product and which define its ultimate value in the market. The product value and analysis would
be done through the consultation of relevant literatures. This would help in the essential analysis
of the entire subject matter in a better way. The Australia and New Zealand banking group or
ANZis headquartered in Melbourne. It offers banking and financial services to the resident of
both Australia and New Zealand.
ANZ is a multinational banking company operating across the world. As of now the
company is located across 34 countries globally (anz.com, 2019). The bank was established in
1951 with the merging of the Bank of Australia and the Union Bank of Australia.Presently it is
considered as one of the top four banking institutions of Australia. The larger part of the business
of ANZ bank takes place in Australia. The dominance is of the retail banking and commercial
banking. The bank has won many accolades in the past including the most sustainable global
bank in 2008 as per the sustainability index of Dow Jones. The current revenue of the bank is
1.07 Billion Australian Dollars. Shayne Elliot is the current CEO of the bank (anz.com, 2019).
The product that is being offered by the bank is a special card called the Cash Passport. The
product is specially designed for the customers that travel across the world. The card can be said

3ANZBANK: CASH PASSPORT
to be a prepaid currency card. The customers can put funds into the card account before actually
venturing out of travel. It is a pre-paid service. The most effective feature of the card is that it
can be used across various world locations. The card can be used to take out money from any
normal ATMs that are available across the various cities around the world. The card can be
reloaded at the various ANZ banks across the world and the partner organizations of the bank at
the travel destinations. The card can be loaded with any currency be it the Australian Dollar,
USD, GBP or any other currency. It is important that the customer keeps on checking the balance
from time to time. There is also the added facility to transform one type of currency to the other.
If the customer wants to change the currency as a result of the cancellation of travel plans a fee
might be applicable in that case. The currency converter helps to transform the leftover balance
useful by converting it into the required currency. It is an easy and secure way to carry travel
money at various international destinations.
The purpose of the bank is to provide essential financial services to customers that ensure
their optimal growth and development. The bank values sustainable development of the
environmental, social and economic aspects. The bank is focused towards helping all the
essential financial needs of the customers. The focus is on better performance with passing time.
Figure 1: ANZ Logo
(Source- anz.com, 2019)

4ANZBANK: CASH PASSPORT
Figure 2: ANZ building
(Source- ANZ Tower- The Skyscraper Center, 2019)

5ANZBANK: CASH PASSPORT
Management Structure
(Source- Provided by the Author)
Board of Directors
Principal Board
Audit
Committee
HR
Committee
Risk
Committee
Governance
Committee
Technology
Committee
CEO
Key Management Committees
Management Board

6ANZBANK: CASH PASSPORT
Literature Review
Travel and tourism marketing
According to Ali, Kim & Lee (2016) electronic payment systems have dramatically
grown in popularity in the present world environments. Especially, cards come in handy when
availing public transportation in any foreign countries. Additionally, accurate travel data can be
generated from the usage of these cards. It was found that smart cards can be effectively used to
generate simulated travel environments where exact travel oriented costs can be calculated. The
data can then be used to make financial data based travel plans. As opined by Spurr et al. (2015)
travel oriented survey responses of people can be collected to be effectively validated by the
usage of smart cards. Hence, gathering information about transit and transit costs become easier
as a result of this factor. The transit costs can then be evaluated to form travel oriented data that
can be used across varied fields. It can be said that the growth of travel costs across the world
and the constant question of security has increased the usage value and potential of the travel
oriented cards (Liu et al., 2015).The cash passport and related products have been known to
provide travels with financial freedom when they travel abroad. Empirical literatures point to the
fact that people are not comfortable with using real cash as they tend to travel.
Evolution of Usage
Travelling abroad creates further risks for taking cash in hand as there are be instances of
theft, robbery or similar kinds of risks. Hence, travel cards have become very important products
for the customers. The cash passport would actually be very beneficial for the tourism sector.
With more financial power to the tourists, international tourism is bound to increase as a result of
it. It is important that the tourists use this card towards benefiting themselves as well as advise

7ANZBANK: CASH PASSPORT
others to do the same. This will generate better acceptability of the cash passport among the
tourist community. International frequent travelers would be greatly benefited and frequent
travels would increase. Travel can be done easily with better currency to cater to the various
requirements that people tend to have at the tourist spots. The exchange rates are also important.
Without a service like this people need to be very much aware of the exchange rates to have the
exact amount of money that is required to keep track of the expenses that can be endured in such
trips. Travel behaviors can greatly change if travel money is in control of the traveler. This is
exactly the facility that is provided by travel cards and similar products. In regards to the services
that ANZ are offering, the customer can make payments in almost 99 countries of the world.
International payments of upto 10 thousand Australian dollars can be done without incurring any
extra costs.The bank is providing optimal services where all the requirements are getting met
with a single card.
History of Banking Products
The Traveller’s cheque has a long history. It was invented by Thomas Cook and was first
offered by the Credit Exchange Company of London in 1772. Circular notes were made by
Thomas Cook that had the exact functions of the traveler’s cheques and could be used across 90
countries. The present literatures available on travel currency and travel finances have
considered greatly the usage of the travel apps. These applications can be effectively integrated
within the travel oriented cash passport systems for providing a wide range of services to the
travelers. The most important function of the cards are that the traveler can use it to both
withdraw cash from the ATMs of various international locations. Additionally, the cards like
these also provides the travelers to make cashless transaction abroad. Travel cards are a similar
kind of product in which the card is optimized in order to incorporate a range of functions such

8ANZBANK: CASH PASSPORT
as ATM usage, online payments, in store and phone based money usage. People often find it
difficult to cope with the pressure of money in the various travels destinations. It is due to this
that the travelers are unable to take much money in hand.
The travelers are more inclined towards these products of the banks not only because they
are more secure and convenient but also as they provide the freedom of mind to change travel
routes it they want to do so.The fees of the travel destination can also be very effectively to use
for the miscellaneous expenses that the customers tend to endure at the various travel destination.
However, the only thing that needs to be considered are the destinations that are to be covered
within the policy of the card. There are various exotic travel destinations that might not get
incorporated within the travel destinations that are provided by the card. Hence, a major
identified challenge with regards to this area is that many travelers are focused on travelling to
more exotic and undiscovered places internationally that might actually render the feature of the
card less productive for the travelers.
Competition with other companies
The competition in the sector concerning cash passport is limited to some companies.
Travel and tourism market nonetheless have been affected by the availability of these types of
cards that are being provided by the various banking companies. The most important competitors
are Travelex and Commbank. An important factor is the term of the card as most of the users are
bound to use it for longer periods of time as Travel oriented customers travel different places
after certain amount of time. Some of the cards like the Travelex premium platinum cards can be
used for longer periods of time. The validity of these cards is around five years (Gupta & Shukla,
2017). The markets of these kinds of cars are also highly competitive. The main factors that tend
to guide the market propositions of the cards are convenience, contact, budget friendliness,

9ANZBANK: CASH PASSPORT
reloadable features, emergency access and ease of handling. An important competitive feature of
the cards is the fact that the cards are the number of destinations that are covered within the
given services. The features of the cards tend to determine the values for the customers (Bachas
et al., 2018). However, card providers like the ANZ generally focus on covering the most visited
destination for increasing profitability. It is important to consider that cards are getting smarter,
multifunctional and greatly increasing in terms of consumer’s utility. With services like these,
people need to be very much aware of the exchange rates and have the exact amount of money
that is required to keep track of the expenses that can be endured in such trips (Glaesser et al.,
2017). The customers are very focused towards achieving essential utility value as they travels
across the globe.
Project:
The project under study delves into the marketing of cash passport, one of the premium
financial products marketed by ANZ Bank. The present project is the successor of two preceding
projects which have laid down the ground for the project under progress. The first project title A
introduced ANZ and its salient features. The second project titled B introduced the product cash
passport, which is the indispensable necessity of international tourism industry. The present
project C delves deeper into the second project by taking a tour of the previous works on
marketing of products in travel and tourism taking into account the role cash passport plays in
the industry. It is clear from the discussion that international tourism market has become
extremely competitive with many other financial and non-financial organisations marketing
similar products. The project would hence take into account the main competitors of ANZ Bank
in term of cash passport using the table already created in the previous project titled B. The
current project would refine the table by adding more findings like logos to it.

10ANZBANK: CASH PASSPORT
Provid
er
Pro
duc
t
Avail
able
Curr
encie
s
Pur
chas
e
Rel
oa
d
Clo
sur
e
Cros
s
Curr
ency
Mini
mu
m
Loa
d
Max
imu
m
Amo
unt
Advantag
es Disadvantages
Fee Fe
e Fee
Conv
ersio
n
Comm
onweal
th Bank
Tra
vel
Mo
ney
Car
d
13 15 0 0 5.25
%
Aud
$ 1
Aud
$
5000
0
1. The
product is
backed by
Common
wealth
Bank of
Australia,
one of the
largest
companeis
in
Australia.
2. Can
hold upto
13 foreign
currencies.
3. Comes
with card
loss
insurance
and
purchases
loss
insurance
4. Offers
more
currencies
compared
to ANZ
Bank
1. Higher
charges
2. Suffers from
high cyber
threats levels.
ANZ Tra
vel
Car
d
11
$
11.
And
$0
for
me
mbe
rs
1.1
0% 0 3%
Aud
$
200
Aud
$
1. Lower
charges.
1. Limited
number of
foreign currency8000
0

11ANZBANK: CASH PASSPORT
Travele
x
Mo
ney
Car
d
10
1.1
% of
the
initi
al
load
or a
mini
mu
m of
$15
1%
usi
ng
the
BP
ay
$5
usi
ng
the
deb
it
car
d
10 5.95
%
Aud
$
100
Aud
$
1. Smooth
foreign
exchange
services
1. Accepts only
siz currencies.
1000
000
Qantas
Card
Qan
tas
Car
d
wit
h
Qan
tas
Cas
h
11 0
0
%
and
1%
usi
ng
deb
it
car
d
0 0% Aud
$ 50
Aud
$
1.Offers
10
currencies
2. Not a bank
and hence
dependent on
third party
bankers
1000
00
Austral
ia Post
Go
&
Loa
d
Tra
vel
Car
d
5 0 0 15 3%
Aud
$
100
Aud
$
Onwed by
the
governme
nt of
Australia
Provides
11 foreign
currencies High charges
1000
0
Velocit
y
Freque
nt Flyer
Glo
bal
Wal
let
11 0 0 0 2.25
%
Aud
$ 1
Aud
$
More
facilities
like
redeeemin
g amount
Dependent on
third party
bankers
2500
0

12ANZBANK: CASH PASSPORT
Discussion
The project concerned the job role of the service consultant of the ANZ bank. Remaining
within the scope of the job role the project concerns the creation of an effective strategy to
market the cash passport product. Subsequently, the focus would be towards improving the value
that is added for the users of the services. In order to achieve its objectives, the project focused
on some essential aspects. Firstly, analysis of the products of the competitors were necessary for
understanding the organizational environment where the company would work. Secondly, the
customer satisfaction related factors were considered to improve upon the primary analysis. The
competitor analysis revealed that although ANZ bank was in a good position in the market, it did
had many essential competitors. The products of the competitors that were identified were
similar cards that are provided by Commonwealth Bank, Qantas, Travelex, Velocity frequent
flyer and Australia Post.
Travel money was found to be an important competitor to look out for. The card
provided 13 available currencies. On the other hand the ANZ bank card only provides around 11
destinations. The minimum load value of Travel money card was found to be 1 Australian as
compared with the minimum load value of 200 Australian Dollars by ANZ. Added to this the
Travel Money Card did not charge any reload fee to the customers. Another close competitor of
the card was found to be the Travelex Money Card. The card provided the value of 10 currencies
and had a minimum load of 100 Australian Dollars. Added to this is the maximum value amount
of 1 million Australian Dollars by the company.
The customer satisfaction value was analyzed through the trust the company has been
able to garner over the long history of its market operations. Hence, the value was applied in
terms of the customer satisfaction that can be effectively generated through engaging with the

13ANZBANK: CASH PASSPORT
customers through provision of financial services over longer periods of time. An important
factor was the multicurrency functional aspects of the products and services that were offered.
The discussion of the project in this case was concerned with some essential services that
focused on some essential elements of the customer services that were provided by ANZ.
Protection was found to be of essential value as the card was not linked to the bank account or
pin protected. The card was adaptable and not greatly affected by the fluctuation in the currency.
The card was convenient to use and almost 1.9 million ATMs across the globe could be used to
withdraw money with the help of the card. Additionally, there was found to be the added feature
of easier card management.
All the factors that were found through the project can be linked with the empirical
studies that are available in regards to the services that are being offered by the various banking
organizations. The currency aspects have become important in the light of the increased number
of destinations that the travelers in the current world travel to. The larger number of currency
availability has the power to influence a large number of customer (Bielefeld, 2018). The
connection between the project and the studies show that the banks are increasingly engaged in
competitive market functions. It is important to note that the banks are engaged in constant
competition with essential focus towards improving the effectiveness of their offered
services.The strength of the banks in terms of competitiveness if the context of the travel cards
are considered lies in their international reach. The more number of partnerships they can have
with their international counterparts can enable them to widen the scope of their offered services.
ANZ being one of the largest organization in the country with a good international base,
helps to form an effective framework for the services that are being offered. It should be
remembered that the larger portion of the global travelers should be attracted through the offered

14ANZBANK: CASH PASSPORT
services of the bank. This means that the card would have to be optimized as per the requirement
of the business customers as well. The business customers form a bulk of the target customers if
the operational area of the ANZ bank Cash Passport is considered. In this case the most
important desirable features for the customers would be the adaptability, convenience and easier
account management. The fact that the business customers need to travel more frequently in the
world is to be considered while provision of the services (Aloni et al., 2017). The cards can be
optimized as per their requirement. A growing number of youngsters are also more travel
oriented in the current world scenario. Effort should be made even to tackle these types of
consumer segments. Gathering information about transit and transit costs become easier as a
result of this factor. This is an important part of the project that was considered. The evaluation
of the costs associated with the travel patterns of the customers can help to establish a smoother
and more effective service. The transit costs can then be evaluated to form travel oriented data
that can be used across varied fields. It can be said that the growth of travel costs across the
world and the constant question of security has increased the usage value and potential of the
travel oriented cards(Bachas et al., 2018). The cash passport and related products have been
known to provide travels with financial freedom when they travel abroad. It becomes the part of
the service consultant to ensure that the cards are provided to conveniently accommodate the
usage patterns of the travelers throughout the globe. It is important to note that the customers are
the central figures in determining the success of the travel cards. The project points towards the
fact that mutually beneficial service needs to be formed.
Conclusion
The implication of the study points towards the fact that cash passport is an effective way
for people to carry their travel money. It has been found that the constant evolution of the

15ANZBANK: CASH PASSPORT
traveler’s cheque has now made sure that more locations around the world can be travelled
hassle free. It is important to note however that this is not a unique service that is being offered
by the organization. There are other competitors that are trying hard to get a market share like the
commonwealth bank cards and Travelex. However, cash passport has been able to create a
significant position among the rivals to strive towards stronger future growth.

16ANZBANK: CASH PASSPORT
References
Ali, A., Kim, J., & Lee, S. (2016). Travel behavior analysis using smart card data. KSCE Journal
of Civil Engineering, 20(4), 1532-1539.
Aloni, R. L., Axelrod, B. T., Bowman, J. L., Funda, J. J., Polon, J. S., &Tiku, S. V. (2017). U.S.
Patent No. 9,665,879. Washington, DC: U.S. Patent and Trademark Office.
ANZ Tower- The Skyscraper Center. (2019). Retrieved from
http://www.skyscrapercenter.com/building/anz-tower/10699
anz.com (2019). Retrieved from http://www.anz.com/corporate/products-services/
anz.com (2019). Retrieved from https://www.anz.com.au/personal/travel-international/travel-
money/travel-card/
anz.com (2019). Retrieved from
www.anz.com/australia/aboutanz/corporateinformation/company.asp
Bachas, P., Gertler, P., Higgins, S., &Seira, E. (2018). Digital financial services go a long way:
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17ANZBANK: CASH PASSPORT
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