Forex at sydney airport
This will be my first time exchanging currency. I looked online and I can exchange my US dollars charged to a credit card with no foreign transaction fee for Australian dollars at Travelex prior to my visit and pick up the Australian cash at the Sydney airport Travelex.
The exchange rate looks good and there is no commission fee. This sounds too good to be true.
Am I missing something? Does anyone know what the commission fee is if I wait until I arrive at the airport? I assume using Travelex is less expensive than using an ATM and paying ATM fees and foreign transaction fees. You can get around 1. Sometimes with commissions added. But if you decide to go with travelex, then order online. It is more expensive at the airport itself when you arrive.
Avoid money changers in Australia, and especially Travelex. The exchange rates are usually very poor. Use the Travelex site to find out how many AUD you would get for USD, then go to Google and search " USD IN AUD". Bring a debit card and use it at ATMs to get money out of your bank account, just like at home. You can make withdrawals as needed, so you don't have the risk of carrying a substantial amount of cash.
Use a credit card for larger transactions. Actually I have to disagree with 2.
Travelex exchange rates at a branch away from the airport are VERY competitive - I recently purchased GBP, Euros, Jordanian dinars and Fiji dollars from my local Travelex branch at Kotara and I got a better exchange rate than I would have gotten by going through either of my banks both of which, by the way, buy their cash from Travelex. Travelex has had to become competitive with the banks in order to get their share of business.
Their exchange rates used to be terrible, but they have improved ALOT. OP, the best place to purchase your Australian dollars is from your bank in Ohio before you depart the US. It can be extremely difficult to buy or sell obscure currencies like AUD in the US. Travellex or the options of waiting until arriving here and using a card may be the only options.
Travelex Currency Exchange at Airpot - Sydney Forum - TripAdvisor
Find out who your banks Global Partners are in Australia and use that bank's ATMs to avoid paying the ATM fee. For example, when I travel in the US I only use Bank of America ATMs and pay zero fees for ATM withdrawals because that's my banks partner in the US. Maybe so, but the banks give very poor rates when changing cash.
Comparing different rates for changing cash is just comparing places that give poor exchange rates.
Get the Best Exchange Rate at Sydney Airport
You have to compare with the official inter-bank rate as reported by Google. I realized I was looking at something wrong on the Travelex website. I will plan on using an ATM. This topic has been closed to new posts due to inactivity.
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