Exchange rates AUD to USD

tregs · 03-12-2015, 07:21 PM

Hi Guys

Im heading to America on the 14th for a month and now in thinking about exchanging cash and getting a travel card before I leave. Looking at the current exchange rate its 73 cents to the dollar but when I look at exchanging online they are only offering 69-70 cents. Can anyone tell me why this is?.

**Ross 1** · 03-12-2015, 07:35 PM

That 3-4c difference in every dollar is the financial institution making money.

theunfairadvant · 03-12-2015, 08:49 PM

DO NOT DO NOT DO NOT get a travel card as their fees are much higher
and some of them are a absolute ripoff, the best is just to carry cash or your own credit card.
I carry UK pounds everywhere i go.

I have try out most of the travel card when i travel to the USA,
and in the end it ended out costing me more money in the end.

You can just Google it and you can find all the travel card is just a scam.

Make sure you go to Nordstrom for shopping and not discount outlets.

Pedro · 04-12-2015, 12:36 AM

Quote:

Originally Posted by theunfairadvant

DO NOT DO NOT DO NOT get a travel card as their fees are much higher
and some of them are a absolute ripoff, the best is just to carry cash or your own credit card.
I carry UK pounds everywhere i go.

I have try out most of the travel card when i travel to the USA,
and in the end it ended out costing me more money in the end.

You can just Google it and you can find all the travel card is just a scam.

Make sure you go to Nordstrom for shopping and not discount outlets.

Are you joking? If so I'm sorry for being slow on the uptake.
If not, I don't know where you're coming from. I used to go to the States every year up to a couple of years ago and always used ANZ travel card. The cash in it is what you put in there at the exchange rate of the day you put the money in, and there are no other charges.
And Nordstrom is the most expensive chain in USA ... yeah you were joking right?

brismike · 04-12-2015, 12:48 AM

Get yourself a GE Money 28 Degrees Mastercard. No yearly fee and No foreign transaction fees and the best exchange rate you will get. The rate will be almost as good as the rate you quoted and saw before you were disappointed by the ripoffs you have since found. Believe me I have travelled a lot and I have tried them all.

Cheers Mike

theunfairadvant · 04-12-2015, 01:59 AM

I have try this GE Money 28 Degrees Mastercard before and a few times
the server is down or for maintenance that my purchase can't be approve.

I try to login online but it just say maintenance and in the end i ended up
using the AMEX and Citibank card during my travel.

Amex centurion and platinum card or Citibank platinum card comes with a very very good travel insurance,
i found that out the hard way when i was really sick in the states and all i did was ring up Amex
they just take care of everything for me.

Yellow_Festiva · 04-12-2015, 12:52 PM

Why do you assume you need to get USD here? Are you worried that when you land there will be none left for you?

Yes, 'cash passport' style cards are a rip off, great for people who insist that they don't want to use their personal cards overseas and insist in carrying their passport with when 24/7. My friend is a travel agent and many of the %age fees are paid to the selling agents as commissions.

Of course they will advise you that it's a wonderful / safe option.

They charge you to get it, they charge you to load it, they charge you to use it.

I bet they charge you to close it to get your last few dollars back...

Yes, the 28 degree MasterCard is an outstanding product.

You are going for a month? Get the 28 degree card, tell your bank you are travelling and take 1000 AUD cash as a backup tucked away in your bag.

Use your regular ATM card to pull out USD, use your 28 degree card to pay for things.

adumb · 04-12-2015, 01:58 PM

Went earlier this year, used the 28 degree card it was great. Got some cash before hand found Australia Post had the best rate at the time.

xa_jg66 · 04-12-2015, 02:04 PM

If you draw money from your regular account overseas what rate does the balance convert at?

Yellow_Festiva · 04-12-2015, 02:17 PM

Quote:

Originally Posted by xa_jg66

If you draw money from your regular account overseas what rate does the balance convert at?

From my experience, generally a better rate than going with cash and using an exchange desk or a bank.

tregs · 04-12-2015, 08:48 PM

I went to my bank I will take a few grand in cash and I also ended up going with a travel card from the bank it is linked to my internet banking. There was no charge for the card but a $10 fee to load the card. Also no charge when I use the card or to cancel it when we get back.

MDS69 · 04-12-2015, 09:28 PM

I exchanged $4000.00AU last week when the cash rate was $0.7214 and got $0.7026. No fees or charges. This was from Travel Money Oz.
I am going to load more money on to a cash passport www.cashpassport.com.au. It is a debit card with a PIN. The exchange rate will be whatever it is on the day of loading it. If I had of done this at the same time as I got my cash it would have been the same rate as mentioned above.
There are some fees and charges for loading and reloading but thety appear to be minimal.

I just checked out the 28 degrees card and it is a Master card credit card. 55 days interest free then 20.99% interest. There are a few charges on this as well. It looks like the exchange rate will be whatever it is on the day of the transaction with no exchange rate fee.

I like the cash passport as the rate is whatever it was at time of loading. So if the dollar goes down while you are away you are safe but on the flip side if it goes up you miss out. Whilst the AU dollar is slightly up at the moment by the time we go away in Jan it will probably be down again. bit like the difference between a variable rate home loan or a fixed rate home loan.

Feathers · 06-12-2015, 12:38 PM

I've used the Aus Post travel card while I've been away, as my regular ATM card doesn't have a chip, so will not work outside Australia.

**ebxr8240** · 10-12-2015, 04:30 AM

Just use my ANZ debit Visa card.. I transfer just enough so it cant be ripped..
Spent 6 weeks there, hardly used any cash..

Simple6 · 10-12-2015, 07:14 PM

28 degrees and Citibank debit card for me when I went overseas.

Paid $0 in fees the whole time (except for Thailands ATM fees - unavoidable) and the rate was the daily MasterCard or VISA rate which works for me as I'm not into doing one big exchange and therefore gambling with exchange rates.

Paul22 · 10-12-2015, 07:30 PM

For travel cards Choice recommended either Qantas or Virgin as having the best overall benefits providing, of course, you are a member of the respective airline. Its easy to do as it can be done on-line. However, to obtain the best cash rate I've found UAE Money to be the best. Just Google UAE money and you'll see the rates. Cheers

ltd · 24-12-2015, 01:54 PM

Just use the ATM's in the USA - no fees and a much better exchange rate.
Or, something I used to do was take around 4 grand in AUD 50's to LAX, and exchange them there. I would routinely get 10c more per dollar than exchanging them in Oz, as they are wanting to buy our currency to sell to those heading here, and have limited supply.