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Best current exchange rates...

Travel Forums Australia / New Zealand & The Pacific Best current exchange rates...

1. Posted by lanchutt (Inactive 58 posts) 10y

HI I wondered if anyone knew of the best place to get $ASD, like the best places with UK>ASD with the cheapest commission ?. I have £1000 to convert this week! Or would travellers cheques be better? I don't know what to do!

Thanks

2. Posted by Sam I Am (Admin 5588 posts) 10y

Hmm, tough call. I assume you are not going to trek half way across the country to transfer this money, so what city are you looking at doing this transfer in? Generally I don't think there'd be that big of a difference, but I tend to prefer banks for this type of transaction.... either way, someone is going to get you with some fees (whether clear like a fixed amount or hidden like an exchange rate that is just a cent or so off...).

3. Posted by james (Travel Guru 4136 posts) 10y

My tip when changing money is to ignore the quoted exchange rates and also ignore the commission.

Simply say to the cashier, I have x number of whatever currency and I want to change it to y currency. How much of y currency will I get?

That way, you don't have to read through the fine print of rip-off commission rates, nor do calculations, etc. You simply get the amount of the new currency that you will get (and can then divide one by the other and get the true, net, exchange rate).

If you do that at a number of exchange locations, you can then do a true, transparent, comparison to determine which one offers the better (net) rate.

4. Posted by maba (Inactive 227 posts) 10y

Why not bank the money & just take a smaller ammount of $A as cash to use on arrival. When you want more, do a withdraw on your bank account (Visa!) when in Australia.
To save fees, buy something (anything) at a supermarket, just ask for extra cash at the time of that transaction. The exchange rate of that day will be applied.