A Marketing Report on the ANZ Bank Cash Passport Product and Tourism

This report provides a comprehensive analysis of the ANZ Cash Passport product, focusing on its marketing strategies within the context of the travel and tourism industry. It begins with an introduction to ANZ Bank and the Cash Passport, a prepaid travel card designed for international use. The literature review explores the history of banking products, the competitive landscape, the nature of competitor products, and the evolution of travel payment methods, including traveler's cheques and the modern use of travel cards. The report delves into the marketing efforts of ANZ Bank, highlighting how the Cash Passport is promoted to attract customers and facilitate secure international transactions. Furthermore, the report includes an analysis of competitor products and the role of Cash Passport in the tourism sector, the report also examines customer satisfaction, evaluating the product's features, convenience, and benefits for travelers. The report concludes by summarizing the key findings and providing recommendations for enhancing the product's marketing and customer appeal.

Running head: MARKETING
Travel and Tourism
Name of the Student:
Name of the University:
Author Note:

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Table of Contents
Part B:..............................................................................................................................................3
1. Introduction:................................................................................................................................3
2. Literature Review:.......................................................................................................................4
3. Analysis of the Competitors Product:........................................................................................11
4. Discussion about Customer Satisfaction with Cash Passport Product, Service and Quality.....13
4. Conclusion.................................................................................................................................14
References:....................................................................................................................................15

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Part B:
1. Introduction:
The report aims at providing an insight into the ANZ Bank where I work as a service
consultant as part of the project that deals with Cash Passport Product. It is one of the leading
banks of Australia and New Zealand serving close to over 5 million customers. The bank
employees over 28,000 people and have assets close to about AUD$ 247 billion. The history of
the bank dated back to 1835 and operated based on building sustainable future for not only the
business but also the staff, shareholders, staff, communities and customers. The bank also makes
an effort of achieving and maintaining highest standards of continuous disclosure and corporate
governance. The bank offers various products that cater to the personal, business and the
corporate sectors. This particular report however concentrates on the Cash Passport Product of
the bank. The project concerning the Cash Passport Product is crucial for the not only the bank
but also the customers who takes immense interest in knowing more about the product.
Cash Passport Product is a reloadable prepaid money card used for the purposes of travel
allowing a person to top up currencies anytime and anywhere. The card can be reloaded online
either through the transfer of funds through debit card, bank transfer and Bpay. The Cash
Passport Product is also comes with various features like lock in rates of exchange, no fees, finds
acceptance at millions of locations and provides 24/7 assistance globally. The report focuses on
the how the product benefits the customers along with an analysis of the competitors product.

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2. Literature Review:
Theme 1: History of Banking Products and How its Change
Australia and New Zealand Bank also known as ANZ Bank represent the third largest
bank in Australia in terms of the market capitalization and is positioned after the Westpac
Banking Corporation and the Commonwealth Bank (anz.com, 2019). ANZ has several years of
experience across complete range of the banking products and services. Right from the
management of the cash flow to the financing of the complicated deals, ANZ is known for its
reliability and expertise (anz.com, 2019).
As far as the products are concerned, the Bank offers personal and business loans, credit
cards, insurance, foreign exchange, international payments and travel money (anz.com, 2019).
As report aims at providing an insight into tourism so the focus is primarily on the travel
products. The travel products of the bank included ANZ Travel Card, Foreign Currency Cash
and the ANZ Cash Packs.
ANZ Travel Card is a multicurrency prepaid Visa card that lets you access your own
money easily and securely while you're overseas. Load the currencies you want and lock in your
exchange rate for peace of mind. This travel card comes with the following features (anz.com,
2019)
 It locks the rate once the funds are loaded
 It comes with an additional back up card so that individuals can access money
even when the card gets lost

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 It does not require an issuance or reload fees.
 It allows an individual to travel with confidence as it comes with a PIN for
security.
Foreign Currency Cash: It represents wide range of the popular currencies and is a
convenient means of making money overseas (Belghitar, Clark & Mefteh, 2013). It however
comes with the following features:
 It offers a wider range of the popular overseas currencies
 It requires no exchange fees for the ANZ customers
 It offers lucrative exchange rates
 It allows conversion back to the Australian Dollars once an individual returns
ANZ Cash Packs are products that comprises of the pre –packaged mix of the foreign d
denominations for taking out the stress related to the exchange of the foreign currency. Some
of the features include(anz.co.nz , 2019):
 Convenience in pre-packaging
 Allows start enjoying the holiday without standing in a queue and waiting for exchange
money
 It offers smart exchange rates

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 The Cash Packs are available for multiple currencies like United States Dollars (USD),
Pounds, Euros, Thai Baht and Chinese Reinmimbi.
Over the years, banks have undergone a transformation in their products and ANZ being in this
category is no different. ANZ have now introduced Cash Passport Platinum Mastercard which is
basically a prepaid business card for expenses that could be used at innumerable number of ATMs
as well as merchants across the world for withdrawal of local currency or the purchase of the goods
or the services. It allows the companies in efficiently monitoring and managing the travel expenses
by centralizing all the expenditures (cashpassport.co.nz, 2019).
Theme 2: Competition with Other Company
 How it’s Related to Tourism
Description: Cash Passport Platinum represents a reloadable and prepaid pay facility
mostly for the domestic, online and the travel use which allows in accessing the money
loaded into the Cash Passport Platinum for either making purchase or withdrawing cash
in an overseas location or locally within New Zealand. An individual can use the money
by using the cash (Sarkar, 2017).
Status: It is an unsubordinated and unsecured debt security
Application: To apply for the card it is important to acquire a residential address in New
Zealand.
Charges and Fees: It involves fees and charges. Fees mostly includes cash out fees,
withdrawal fees of ATM, administrative fees, fees for currency conversion, transaction
fees of the individual merchant(Swartz, 2017).
Interest: An individual will earn on any amount of money loaded in the platinum card.

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Term: The Cash Passport Platimum will continue until the Travelex Card Services
Limited (TCSL) is asked for closing it and paying its balance to the concerned individual
or when either the balance on the Cash Passport Platinum becomes nil or the card is
expired (Selbach & Lana, 2015). Nevertheless, the card remains active for close to five
years and its validity is shown in the front of the card. Individuals will not be able to
access the card once it expires even when the card is loaded. In such instances, a
replacement card needed be requested to which the balance can be transferred.
Guarantee: The Cash Passport Platinum card is guaranteed solely by the TCSL for
repaying the money loaded into the card (Shaik, 2013).
Restrictions of Transfer: This particular card cannot be transferred.
 Competitor Nature of Product
The competitor Nature of the product is as follows:
Convenience: The Cash Passport Platinum represents a convenient means of
taking multiple currencies and spending the money overseas thereby enabling an
individual in managing money while being away from the home (Kizgin et al. 2013). It
can either be used online or used for directly paying goods and services or withdrawing
the local currency from the ATM displaying the acceptance mark of the Mastercard. With
this card there is no need for worrying about the bank hours or standing in the lengthy
queues.
Contactless Feature Enabled: The card is Mastercard contactless-enabled. It
represents a faster means of paying for the purchases under the mentioned limit of the
transaction without the PIN or signature (Roland & Langer, 2013). The transaction limit

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for the contactless however changes with time and different limits of transaction apply
for the different countries.
Easier to Budget: The Cash Passport enables an individual in loading foreign as
well as local currencies into a single payment facility. This implies that individuals can
exchange the New Zealand dollars into one or more currencies that might be required
before the travel (Friman, Ettema & Olsson, 2018). With the prepaid facility of payment,
an individual is able to track his spending while being away from the home.
Reloadable: This Cash Passport Platinum card can be reloaded innumerable
times within its application limit at any distribution outlet of New Zealand by providing a
valid photo identity. While travelling, the card can be re-loaded with additional funds by
undertaking a Bank Transfer.
Emergency Assistance On Global Scale: On losing the card or in an instance of
stealing, individuals become eligible for receiving emergency cash disbursement. For
accessing the emergency assistance the individual needs to make a call to the in the
helpline number. Once the representative of the customer service establishes that the
individual have sufficient ways of payment, TCSL arranges for the money at the
convenient location of disbursement
Theme 3: Evolution of People Use
 Traveler’s cheque, Thomas Cook who invented: Traveler’s cheque referred to the
exchange medium that could be used instead of the harder currency (Abbas & Abd Kadir,
2013). These are fixated amount cheque designed for allowing the person to sign in order
to make unconditional payment to an individual thereby paying the issuer for the

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privilege. They were mostly used by the people in the foreign countries instead of the
cash. Traveler’s cheque has been first issued in the January 1st 1772 by London Credit
Exchange Company for the use in close to 90 countries. In the year 1874, Thomas Cook
issued circular notes that had similar operation like that of traveler’s cheques.
 History of Travel: Travel refereed to movement of the people in the distant geographic
locations. Reasons for travel included tourism, vacationing, recreation and the research
travel. Travelers might use human-powered transport like the automobiles, trains, public
transport and the airplanes(Wang, 2018). The motives behind the travel included
relaxation, exploration and discovery, knowing other cultures and building the
interpersonal relationships. During this time people either opted for traveler’s cheque or
carried sufficient liquid cash for meeting the travelers need.
 What People use nowadays: People have nowadays completely become technology
freak and makes use of various travel apps. Nowadays every single person not only
carries a Smartphone, laptop, camera or tablet (Brynjolfsson & McAfee, 2014). People
have however opted ebooks in the form of travel guides and prefer reading books in the
Kindle format. Besides, people have also becomes smarter and prefer using cash passport
cards or travel card for financing their passports.
 Cash Passport: It is a prepaid money card used for the travel. Cash Passports can be
used for paying services and goods, in store, online and in million locations across the
world (anz.com, 2019). While buying the card, individuals have the option for paying
either via the debit card or BPay. Individuals can however use the Cash Passport in
making purchase and withdrawing overseas cash. It can be used either over phone or
online at the merchants that uses accept only Master Card. The Cash Passport can be

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reloaded by completion of bill payment, via transfer of cash or by visiting the branch of
ANZ bank.
 Travel Card: This represents a card that allowed the individuals to lead international
currency so as to use it during the overseas travel (Ma et al. 2013). It allows withdrawing
cash from the ATM, online, in store and over phone. It can be used across thirty six
million locations across the world simply by choosing credit option.
Theme 4: Travel & Tourism Marketing
In order to ensure success in the tourism business, business relies on the
marketing professionals for linking the potential customers to the necessary operations and
service (Hudson & Thal, 2013). Nevertheless marketing for the travel and the tourism operations
involves the designing of the advertisements or the promotional offers that would attract the
customers towards the travel business.
ANZ Bank has promoted travelling international through easy, faster and secure money.
The bank thus undertakes the following steps(anz.com, 2019).
 Sending the money securely and quickly with the International Money Transfer
 Making payments to close to 99 countries across the word.
 Sending of the foreign currency via the internet banking of ANZ without any
charges for making payments of $ 10,000 and more. However, charges of $12
apply for payment under the $10,000.
 Ensures a reduced transfer fees for international money transfer from Australia to
all the other countries available on the Internet Banking
However, the tools and apps put forward by the bank include:

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 Currency converter: It is used for keeping a track on the currency conversions and the
exchange rates and thereby adopting strategies for aiding in travel and tourism marketing
(Blanc & Fare, 2013).
 Internet Banking: It is necessary to order the foreign currency while an individual travels and
then checking and making international payments with the internet banking of ANZ.( Martins,
Oliveira & Popovič, 2014)
 Currency through ANZ app: It is intuitive and simple and is a must have application for the
information related to foreign exchange information and conversion of currency (anz.com,
2019). It is also an important determinant of the strategies adopted for the travel and tourism
marketing.
3. Analysis of the Competitors Product:
Travel money card like the Cash Passport product of ANZ Bank is a hassle free, safe,
prepaid reloadable card that is accepted by the shops, restaurants and the bars across the world.
Such cards can be ordered online or can be picked up from the branches of the local Post Office.
Prepaid travel card can store close to thirteen currencies. If an individual is travelling and is
planning for money then the travel card serves as the good idea.
In this report, a competitor analysis of Cash Passport is undertaken taking into
consideration similar travel cards of Commonwealth Bank, Qantas Card, Travelex, Australia
Post and Velocity Frequent Flyer. This can be represented in a tabular form as mentioned below:
Provider Product Available Purc Reload Closure Cross Minimum Maximum

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Currencies hase
Fee Fee Fee
Currency
Conversion
Load Amount
Commonw
ealth Bank
Travel
Money
Card
13 15 0 0 5.25 % Aud$ 1 Aud$
50000
ANZ Travel
Card
11 $ 11.
And
$0 for
memb
ers
1.1 % 0.00 3% Aud$ 200 Aud$
80000
Travelex Money
Card
10 1.1 %
of the
initial
load
or a
mini
mum
of
$15
1%
using
the
BPay
$5
using
the
debit
card
10.00 5.95% Aud$ 100 Aud$
1000000
Quantas
Card
Qantas
Card
with
Qantas
Cash
11 0.00 0 %
and
1%
using
debit
0.00 0% Aud$ 50 Aud$
100000

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card
Australia
Post
Go&
Load
Travel
Card
5 0.00 0.00 15.00 3% Aud$ 100 Aud$
10000
Velocity
Frequent
Flyer
Global
Wallet
11 0.00 0.00 0.00 2.25% Aud$ 1 Aud$
25000
4. Discussion about Customer Satisfaction with Cash Passport Product, Service and
Quality
ANZ Bank is dedicated towards making the multi-currency Cash Passport product
enjoyable for the trip. Customers have been immensely satisfied with the service and quality of
the card that many of them have recommended it friends. Customers are satisfied by the fact on
how the budget for the trip or a dreamy inspiration on hottest destination can be explored with
the help of the card. Besides, the customers also find satisfaction in some of the features of the
card offered by the card. These features include:
1. Protection: The card is not PIN protected and not linked to the bank account. It is also
supported across the world via 24/7 emergency assistance. This card is also available with an
additional back-up card and is replaced for free once stolen or lost.
2. Adaptable: This card helps in avoiding currency fluctuations through loading of funds
in the foreign currency and thereby helping in using the currency in corresponding region or

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country. The card allows the usage of the multiple currencies and the customers finds
convenience in reloading the card as many times as per his convenience.
3. Convenience: The card allows withdrawal of the local currency from across 1.9 million
ATMs across the world. It also helps in using the unspent funds for the next trip or helps in
cashing out the card. It allows the consumers in making the necessary purchase. Besides, the card
allows easy allocation of the funds across the different currencies.
4. Easier Management of Account: This card helps the customers in not only checking
the balance and allocates the funds across the different currencies.
4. Conclusion
On a concluding note, it can be said that the ANZ Bank touches the lives of every New
Zealander. Through the report one can get an insight into the Cash Passport and its various
features. The report also discusses about the various themes and how they relate to the aspect of
tourism. There is also a competitor analysis of the Cash Passport product taking into account
products from similar categories. The reports also provide an insight into the customer
satisfaction regarding the products. From, the discussion the project concerning the Cash
Passport product seems successful due to the immense benefits it provides. ANZ Bank is also
believed to apply the sustainable practice that helps in delivering better outcomes for the staffs,
customers, communities and environment.

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