Best place to exchange cash for foreign currency in Australia?

[PLANT]

So where is the best place before a trip?
Link please
Bank?
Any tips\tricks
Yes after 9am I understand.
Each State please

 

[Kefci2000]

Would help if you posted where you live.

I am in Melbourne and use the small exchange next to Westpac near corner Bourke and Elizabeth.

Good rates and no commission.

Very good rate for USD especially.

 

[Cruiser Elite]

Very good rate for USD especially.

Just how good we talking here?

Can you get a rate at a certain time and post it please?

 

[Kefci2000]

They are generally 2 US cents away from wholesale mid on USD and 3 away for EUR and GBP

Was there today and spot was 1.078 and they were 1.06

 

[medhead]

Westpac have dropped their fee? Last time I checked Westpac in Adelaide in 2010 they used Amex exchange and had an $8 fee. http://www.australianfrequentflyer....cy-exchange-in-adelaide-22146.html#post307436

I suggest that the OP can do no better than KVBKunlun or places like UAExchange, a small hole in the wall place. Ignore anyone who recommends travelex or prepaid currency cards. These either have excessive on going fees (currency cards) or they have a large spread between buy and sell rates - hence the fee is built into the exchange rate.

Do a search on AFF for currency exchange. Here is a recent thread to get you started :http://www.australianfrequentflyer.com.au/community/open-discussion/buying-usd-in-sydney-36424.html

 

[Kefci2000]

If you read my post you would have seen "next to Westpac" !!

It is actually called "Travel Money" 142 Elizabeth St

 

[kristophe]

There is a secret upstairs place in china town (Melbourne) near Russell that apparently has excellent rates for AUD to USD and Asian currencies (got the intel from my wife who works for a bank - the rates were better than what the bank could offer). Not sure what rates they give to buy foreign currency.

Apparently you need to speak Chinese, but worth a look if you're around and know the lingo. Would love to know the name & exact location of the place.

 

[Isochronous]

There is a secret upstairs place in china town (Melbourne) near Russell that apparently has excellent rates for AUD to USD and Asian currencies (got the intel from my wife who works for a bank - the rates were better than what the bank could offer). Not sure what rates they give to buy foreign currency.

Apparently you need to speak Chinese, but worth a look if you're around and know the lingo. Would love to know the name & exact location of the place.

Does anybody know where this is? And do they speak Mandarin or Cantonese or both?

 

[AVC]

If you read my post you would have seen "next to Westpac" !!

It is actually called "Travel Money" 142 Elizabeth St

Travel Money Oz: Currency Exchange and Cash Passport Cards

I'm going to check these guys out. I need some USD

 

[BAM1748]

I use Wespac on George St in the Sydney CBD, near Martin Place. They have dedicated forex tellers at the back of the main banking chamber.

 

[Rebekkap]

Would help if you posted where you live.

I am in Melbourne and use the small exchange next to Westpac near corner Bourke and Elizabeth.

Good rates and no commission.

Very good rate for USD especially.

I just called them to check their rate for HKD - substantially worse than Commonwealth, Westpac, NAB and the ANZ. So I'd take this advice with a grain of salt!

 

[Austman]

I suggest that the OP can do no better than KVBKunlun or places like UAExchange, a small hole in the wall place. Ignore anyone who recommends travelex or prepaid currency cards. These either have excessive on going fees (currency cards) or they have a large spread between buy and sell rates - hence the fee is built into the exchange rate.l

Travel Money Oz: Currency Exchange and Cash Passport Cards

I'm going to check these guys out. I need some USD

Today's USD rates (oanda.com AUD 1 = USD 1.04784)
Travelex (advance purchase, no fee, pick up at airport): AUD 1 = USD 1.0094
Travel Money Oz (no fee): AUD 1 = USD 0.9995
Post Office (no fee): AUD 1 = USD 1.0092

 

[Rebekkap]

Today's USD rates (oanda.com AUD 1 = USD 1.04784)
Travelex (advance purchase, no fee, pick up at airport): AUD 1 = USD 1.0094
Travel Money Oz (no fee): AUD 1 = USD 0.9995
Post Office (no fee): AUD 1 = USD 1.0092

You can grab an Amex preferred rate card at the Post Office, which will give you better than the advertised rate of the day - will probably bring it to around the same as Travelex.

 

[medhead]

Today's USD rates (oanda.com AUD 1 = USD 1.04784)
Travelex (advance purchase, no fee, pick up at airport): AUD 1 = USD 1.0094
Travel Money Oz (no fee): AUD 1 = USD 0.9995
Post Office (no fee): AUD 1 = USD 1.0092

And I am 100% certain UAExchange will get a better rate than any of those 3 you quote. At least 1.015 IME maybe 1.02+.

Don't believe me? Go check for yourself. Seriously I've done the rounds a number of times and my advice stands the test of time. If anyone wants the best rate do not go to travelex.


Sent from the Throne

 

[Austman]

You can grab an Amex preferred rate card at the Post Office, which will give you better than the advertised rate of the day - will probably bring it to around the same as Travelex.

Myanmar: Myanmar travel guide - Wikitravel

The currency of choice in Myanmar is the US$ nationwide. Due to EU and US sanctions, credit cards are rarely accepted in Myanmar. Some ATMs can be found in large cities, but these are purely for locals and cannot be used for withdrawing money. Travellers cheques are not accepted in Myanmar.

I just hope the Travelex USD are of good quality! :

Ensure that your dollars are the follwing:

• No marks, stamps, anti-counterfeit pen, ink or any other mark on them at all. Pencil can be removed with a good eraser, but any permanent marks will greatly decrease a bill's value and ability to be exchanged.
• Fresh, crisp and as close to brand new as possible. Moneychangers have been known to reject notes just for being creased and/or lightly worn.
• Undamaged. No tears, missing bits, holes, repairs, or anything of that sort.
• Preferably, the new designs, with the larger portrait, and the multiple-colour prints. Although, old-style US$1 are still commonly traded.
• For $100 bills, have no serial numbers starting "CB". This is because they are associated with a counterfeit "superbill" which was in circulation some time ago.

 

[Rebekkap]

Myanmar: Myanmar travel guide - Wikitravel

I just hope the Travelex USD are of good quality! :

The preferred rate card just gives you access to a better rate for the cash you're buying, it's not a credit card or anything like it.

 

[medhead]

The preferred rate card just gives you access to a better rate for the cash you're buying, it's not a credit card or anything like it.

But it I still not a good exchange rate.


Sent from the Throne

 

[PLANT]

Medhead....how does it work?
Do you just turn up with cash and exchange on the spot at Australia location?

 

[medhead]

Medhead....how does it work?
Do you just turn up with cash and exchange on the spot at Australia location?

Yes. It is a currency exchange place.


Sent from the Throne

 

[Rebekkap]

But it I still not a good exchange rate.


Sent from the Throne

I'm waiting for someone to call them and get today's rate/fee so we can do an accurate comparison...