Best place to exchange cash for foreign currency in Australia?

[gojun]

I've always used KVB. I think the fees for under $2000 is $10. I can't remember, but give them a call and they can tell you. Even if it's $10, it's very low compared to other places.

 

[cityloop]

I've always used KVB. I think the fees for under $2000 is $10. I can't remember, but give them a call and they can tell you. Even if it's $10, it's very low compared to other places.

How does it work with KVB? Do you need to set up any account? Do you simply call them and work out an exchange and then walk up to their office to exchange cash?

 

[robd]

How does it work with KVB? Do you need to set up any account? Do you simply call them and work out an exchange and then walk up to their office to exchange cash?

No need to set up an account. Just phone them and make sure they have the currency you want. I thought the fee was anything under $1,000, but maybe that has changed? Then you can just rock up and exchange at spot rate.

Personally, I found United Currency Exchange had slightly better rates than KVB. Just phone a couple of places and compare.

 

[clazman]

I have found Australia post cost effective in the past

 

[Dr Ralph]

I have found Australia post cost effective in the past

Aus Post is probably the worst place to go. You need to shop around!

 

[clazman]

Aus Post is probably the worst place to go. You need to shop around!

Twice I have used them, and twice they have come top of the comparisons

Explain your definition of the worst, rate? fees? service?

 

[Dr Ralph]

Twice I have used them, and twice they have come top of the comparisons

Explain your definition of the worst, rate? fees? service?

I change currency around 40 times a year so have a fairly good understand of the market.

When ever I have used them in the past or thought about using them again they don't have the best rate, often have a lack of currency on hand and very long wait times in store.

As I said, much better value elsewhere. It wont take you very long to find some where else.

 

[Cynicor]

Yeah, I can't see you having looked very far if Aus post come out tops, tbh. Probably beats the banks and travelex, but who doesn't?

 

[clazman]

I change currency around 40 times a year so have a fairly good understand of the market.

When ever I have used them in the past or thought about using them again they don't have the best rate, often have a lack of currency on hand and very long wait times in store.

As I said, much better value elsewhere. It wont take you very long to find some where else.

So who are the top three you use to compare rates

 

[yld200]

In the past I've ordered off Travelex online to pick up at a booth and just recently I checked out Travel Money Oz in Camberwell Vic as it's close to work. They have a little booth in the Escape Travel travel agent on Bourke Rd and I just went in to check out the USD rates and they were very competitive, I even negotiated a slightly better rate.

 

[Freq Flier 2013]

Another vote for Travelex from me.

 

[Caito]

Best place in Adelaide currently for USD?
I too, use Auspost because it's easy and Travelex only gives me $2 more
(That and I can pick small mix)

 

[subboy]

I use travelex for smaller amounts, however found FX4YOU (American Express) to be far better for larger amounts.
Looking at todays rates for a $500USD amount, found travelex to be $677.04AUD and fx4you to be $672.60 .. its only a few dollars, but its my money lol

AND they deliver the cash to your local post office, the only thing is that it has to be over $500AUD worth to use the service. (which at this point is easy to do)

 

[travelislife]

Has anyone been in to KVB Kunlun in Melbourne recently? Is it still now fees for transactions >$1000? Anyone have some crystal ball predictions on the Yen?? Pretty keen to jump on it at anything 85+ really.

 

[Bernster]

Found a place today in Pitt street sydney that's offers a better rate of exchange than Travelex. Called Change Group. I got £600 for under $1000. Record high today. back in match this year you would ignore got £499

 

[Purkulator]

Hi guys,

Just wondering is there any option to exchange currency to be stored in like a debit card to which allows withdrawal in a bank in the destination country? E.g. AUD to HKG then withdrawal at HSBC in HKG?

 

[zainman]

I have some USD cash that I want to send over to the states, what is the best way of doing this? Obviously I can convert into AUD and then deposit and use transferwise/westernunion.

Is there a facility where I can hand they would accept cash USD and transfer to my account in USA?

 

[JessicaTam]

Hi guys,

Just wondering is there any option to exchange currency to be stored in like a debit card to which allows withdrawal in a bank in the destination country? E.g. AUD to HKG then withdrawal at HSBC in HKG?

Have a look here: http://www.australianfrequentflyer....tibank-everyday-plus-free-overseas-48640.html

 

[Purkulator]

That seems like a really good deal!
Can I ask though is there a way to withdraw money at a counter for a bigger amount and also to reduce local ATM fees as well?
So my thoughts are to exchange currency locally then deposit it into Citibank and then withdraw a lump sum at a counter in HKG

 

[JessicaTam]

That seems like a really good deal!
Can I ask though is there a way to withdraw money at a counter for a bigger amount and also to reduce local ATM fees as well?
So my thoughts are to exchange currency locally then deposit it into Citibank and then withdraw a lump sum at a counter in HKG

Umm, as per the thread title I linked to, there are generally no ATM fees for using the Citibank Plus card. Load it in AUD and withdraw the local currency at will.