Changing AUD to USD

[N860CR]

Off to HNL shortly and was after some advise on where is best to change my Aus $ to USD. Should I do it at the bank here before leaving, or will I get a better rate in HNL? Is the airport worse than at banks in town? Thanks

 

[littl_flier]

I would avoid the airport if possible unless it's $50 to get you around until an ATM can be found. The big banks in the city do offer much better rates than the airport but usually charge a minimum $8-10 commission (sometimes waived if you're a customer- not CBA though) so it depends how much you're after. You can check the rates online at Commonwealth Bank Group - Home Page for a bank rate (and I found that CBA usually had the best rates of the Big 4 when I was looking late last year) and Travelex Australia – Foreign Exchange to get an approximation of the airport rate.

You could just take the money out from an ATM in HNL (but note the fees applicable to your account) or you could pre-lock in the rate by purchasing one of the Cash Cards from the major banks in USD.

Personally, I grab cash in Oz for everyday small expenses and then stick the shopping, accomodation etc onto a credit card. You get the TT rate, less a commission to AMEX or MC and then a bank fee depending on the card. SWMBO took a cash card with the rate locked in and a known amount of USD to spend so there was no uncertainty for her.

 

[stryker]

My advice (based on personal experience) is to use your credit card once in HNL. Usually it's the best deal available, and many banks in HNL don't charge commission.

If you don't like that, Just get CBA Amex TT's and exchange them (use as cash) wherever you go. If you're a CBA gold card holder there's no commission fees.

Quite simple really...

 

[Mal]

I've always found Travellers checks (the smaller denominations like the $50 ones) nearly as good as cash when travelling in the US. Ask if someone will accept a TC, they'll normally say yes, hand it over (they might ask for your passport), sign it and you'll get the change back.

If going down the TC path, make sure you do your research. I got bored one day and did a mini-review of some different cash/TC providers in Australia which may help:

http://www.frequentflyer.com.au/community/your-tips/comparison-some-australian-online-11790.html

Like has been mentioned, various cards with banks entitle you to free Traveller's Cheques. Commbank Gold/Plat, Amex Gold/Plat etc all get certain benefits at the home organisation.

 

[drron]

I always use a combination of cash and TCs in the USA.I have never had a problem using TCs,ID can be your drivers licence.Using a CC I have been asked for ID more often than when using TCs.As a gold card CBA holder I get commission free TCs at the bank rate.Now I often use the online facility as I can pay by CC and the FF points I get cost less than 0.5cents per point which i think is good value.I do have to pay commission if ordered online.

 

[littl_flier]

Using a CC I have been asked for ID more often than when using TCs.

Gettin a little OT but I was wondering why they seem to check ID more in the US? I noticed I was checked 100% of the time in LA (about 25 transactions) and was asked a few times in New York. (about the same) But in places like Century 21, you simply swipe your card and sign with a digital pen and no-one checks the signature at all. One seems to protect from fraud whilst the other seems to provide little deterrent.

Just something I found interesting and was after some thoughts. I've never been asked in Oz, the UK, France NZ or Thailand but that's just an aside.

 

[serfty]

Getting cash in OZ before departing is quite expensive.

I simply research for an airport atm where I'm entering the contry and pull out cash there; it's generally cheaper than most currency exchanges.

 

[N860CR]

Thanks serfty thats what i was after. I'm in BKK a lot and obviously its much better to exchange AUD to THB on arrival, however I thought USD might not be the same but it would appear I'm better off just waiting til I get to HNL to change my cash

Thanks guys for the other advice, i'll use the credit card in most places (Earth+ has pretty good rates), so it's probably not worth getting TC's (I'll take a few hundred AUD cash and ATM the rest)

 

[Mr_Gimlet]

Getting cash in OZ before departing is quite expensive.

I simply research for an airport atm where I'm entering the contry and pull out cash there; it's generally cheaper than most currency exchanges.

I work on this principle as well, but there are many countries where USD is the de facto currency, despite what the local currency is. For example, the visa desks at both Egypt and Jordan only take USD.

 

[mainly tailfirst]

Gettin a little OT but I was wondering why they seem to check ID more in the US? I noticed I was checked 100% of the time in LA (about 25 transactions) and was asked a few times in New York. (about the same) But in places like Century 21, you simply swipe your card and sign with a digital pen and no-one checks the signature at all. One seems to protect from fraud whilst the other seems to provide little deterrent.

Just something I found interesting and was after some thoughts. I've never been asked in Oz, the UK, France NZ or Thailand but that's just an aside.

Welcome the US method of 'to be seen to be going through the motions is enough'.
Though the places that really care about getting stiffed go more for the ID and the places that want you to get in and out are electronic signature. Really though, these days most of the banks and credit agencies rely on their sophisticated 'habit tracking' to prevent excessive fraud, so it depends on how paranoid the merchant is.

What's really fun is when you have a Aust DL, the date is ambiguous (like 12/1/..) and you try and buy grog. Much hilarity ensues (3rd hand experience - I've been too old for that problem myself

mt