best place for currency exchange in melbourne

Discussion in 'Your Questions' started by brennan, Aug 8, 2010.

  1. brennan

    brennan Newbie

    Jul 27, 2010
    3
    0
    Hi

    I will be heading to the US in a fortnight and would like to know what is the best place to change AUS to USD in Melbourne? I did a search and most of the places are for Brisbane and Sydney.

    Thanks
     
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  2. Sprucegoose

    Sprucegoose Senior Member

    Aug 20, 2003
    6,560
    896
    SE Aust
    not sure but look at the total cost and dont do it with travelex at the airport. check ur bank as well maybe a better rate and no commission depending on which account you have.
     
  3. Boof1

    Boof1 Member

    May 17, 2010
    141
    29
    Have a look at the rates and the fees then check with your bank as to the fee for withdrawal using a US ATM. Sometimes instead of converting at the bank here it is so much easier to just withdraw when you arrive in the US, and you might get a better rate than the retail providers such as Amex, Travelex etc;

    Also I second the Travelex Airport advice. I don't use them as the rates are shocking and the fees are obscene. They pray on people who need to use them or feel like they have to have cash in pockets prior to departure.

    Boof
     
  4. ranger

    ranger Junior Member

    Nov 2, 2009
    35
    0
    Post Office.
    We ordered USD500 one working day...paid in AU$540......we received US$ the next working day.
    That was back in ?April.
     
  5. brennan

    brennan Newbie

    Jul 27, 2010
    3
    0
    Thanks everbody.

    Boof1, you have a point there. I was thinking of converting it when I arrive in the US. Its strange that the country you visit have a better rates. It happen to me when I went to europe last year. Converted AUD to euro in Germany instead and I ended up better off then when converting it here.


     


  6. Sprucegoose

    Sprucegoose Senior Member

    Aug 20, 2003
    6,560
    896
    SE Aust
    Money is a commodity bought and sold subject to supply and demand which can in part explain why it would be a different price in another market.
     
  7. Sprucegoose

    Sprucegoose Senior Member

    Aug 20, 2003
    6,560
    896
    SE Aust
    Yes agree. I just got a NAB GOLD VISA DEBIT CARD which doesnt have ATM fees and some other favourable benefits. I got it for OS FX trans.

    NAB - NAB Gold Banking
     

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