Currency Exchange

[johntoo]

Well, what a dill I feel, just went into my bank and asked for a travel card, "$1:04 for each Oz dollar, please", I said. Sorry, they said, you can have 0:0997, (ANZ) and Suncorp offered 1.001...WTF!


What's the use of Kochie telling us the exchange rate every morning when it doesn't apply to us Frequent (or very seldom) Flyers?? Or does it? I aked for the rate for cash, and it was exactly the same. I just don't get it, obviously.

Does any one know how to get that bonus four cents for my Aus dollar????


John.

 

[NM]

Get yourself a card (credit card, bank account etc) that does not impose any foreign currency exchange fees. There are many threads discussing products like 28 Degrees Master Card and Citibank Plus account.

 

[Cynicor]

If you are able to transit through singapore (or most of SE asia), change your money there. They operate on wafer thin margins.

 

[robd]

Get yourself a card (credit card, bank account etc) that does not impose any foreign currency exchange fees. There are many threads discussing products like 28 Degrees Master Card and Citibank Plus account.

I second what NM says here. Still getting great rates on 28 degree MC and Citibank card; negligible +/- on XE.com rates. Saved $$$.

 

[Archphoto]

2 rates apply - buying and selling. They sell at a higher rate than they buy, and that's normally the rate you see bandied about on TV, radio etc. My local paper used to show the Buy/Sell rate - I always used the lower rate for calculations on OS purchases so that there were no surprises.

Do banks still have their rates advertised somewhere in AU? Here in BKK they have an LED board or TV screens showing Buy/Sell and Travellers Cheques - currently the AUD is about 31.12 if they buy it from you, but 32.23 if they sell it to you. (Travellers cheques are better value - but you would have got stung with a poorer rate when buying them, so you lose out regardless.)

What really killed me last time I was in AU, was the bank working out how much I'd get back, and then happily informing me that I would be charged $6 per currency exchanged!! Politely told them "forget it" - and promptly walked out. (They already make $$$ out of the rate and I could live with $6 per exchange, but per currency.:evil