Foreign Currency Exchange

[Tha Jack]

I need to get some currency changed to US Dollar and want to know where is the best place in Melbourne to exchange it?
I want to exchange it while the American dollar is still pretty high and I don't want to go through my travel agent as their fees are shocking.
Any advice would be appreciated.

Cheers
Jack

[The Yeti]

not a silly idea, steer clear of the travel agents and airport, do a bit of a phone arround depending on how much you want, your local bank may be able to do you right

[Homer1]

Try ANZ bank, I usually go through them and they offer to change your remaining USD back to AUD free of charge after your trip (keep the receipt). But any currency exchange will shaft you anyway.

[Charliewool]

Originally Posted by Homer1

Try ANZ bank, I usually go through them and they offer to change your remaining USD back to AUD free of charge after your trip (keep the receipt). But any currency exchange will shaft you anyway.

Not wrong there!!... I know this is pretty trivial, but 2 weeks ago I traveled to NZ for work. Thought I'd better have a few NZ $ even though I put everything on company Visa. I changed $150Au at ANZ, received $167Nz.
On return 3 days later (with receipt) I changed what I had left.. $150Nz and received $113 Au
So, that $17Nz I'd spent on 3 beers, in reality cost $37Au!... Trivial as I said, but what if we put 2 or 3 zeros on the end??

[The Yeti]

strouth you would have been better going to the ATM and taken a 50 out in NZ and keepen the chaing till next time

[EgoFG]

A Bank is often best - especially if they have the currency in stock. ANZ and St George I have had the most success with - But figuring how to ring the Branch can be fun !

[SBR_1]

U also might be able to get the amount sent to your local bank.I know both my parents work in the bank dad in the major one in the city mum in a local one.All they need to do is all and they send what they have,they normaly call round other branches to, untill they have the amount you need.

[Geez Louise]

I rang around a few of the major banks today..Fees for exchanging cash can be really high. NAB was the worst!

We ended up going to the ANZ as they had USD at the branch and could get it at today's exchange rate. NAB would have to order it in and it would take 5 days and the rate would be set on the day it arrived at the branch. Bit of a gamble if the dollar drops but ok if it goes up! Didn't want to take the risk.

[AUXRVIII]

If you have online banking, sometimes the bank will do a deal and not charge any fees on currency ordered online, also checkout your local post office, they do American Express travellers checks commission free. Remember to spend all you take, don't bring any back as you will lose out when you convert back.

[exrtnz]

Just dont leave it till you are at the airport, crazy fees theres.

[Geez Louise]

Originally Posted by AUXRVIII

If you have online banking, sometimes the bank will do a deal and not charge any fees on currency ordered online, also checkout your local post office, they do American Express travellers checks commission free. Remember to spend all you take, don't bring any back as you will lose out when you convert back.

I dont think there will be any to bring back knowing my spending so conversion on the way back is not going to be an issue

Thanks everyone for your advice. Jack and I appreciate it. 10 days to go! :

[ltd]

Take $A to LA, exchange it there. The same exhorbitant rate they give you in our airports is reversed over there, as they have less of it. I never exchange currency here, last week I was paid US$ 1.08 per Australian Dollar at LAX. Also, your ATM card will work over there, and you get a better rate than exchanging currency or travellers cheques.