Exchanging Money

AeroStyle

Hi Ladies,

I'm leaving for my honeymoon in a few weeks. I imagine I should bring Aussie cash with me...but where is the best place to exchange. Here or there? Bank or currency exchange company?

Thoughts?

daria24

Whenever I travel outside of the US, I get a small amount of local currency BEFORE I travel (about $50 worth usually-in small bills and coins). We usually get it from AAA-they have these "go packs" you can buy that are a pretty decent rate.

You can also order currency from any bank but they usually charge some pretty hefty fees. Wellsfargo charged $20 flat, no matter how much you were changing. However I have heard any Chase branch does it for a $5 flat fee.

Avoid using the currency exchanges at all cost-it's highway robbery. 

I hit the ATM as soon as I arrive, but charge everything I possibly can because AMEX uses a really good exchange rate, and only charges a 2% fee usually. Call your debit card and any credit card companies and find out what their foreign currency fee is, and also when you get to your destination, always ask if they will charge you in American dollars instead of local currency. A lot of big department stores and other places frequented by tourists will do that.

Happy travels!

j_jaye

Change a bit before you come- you will need to for taxis etc when you arrive (no tipping required btw). The airport exchanges here in Australia are really bad rates. I would check out the exchange rates before you go and keep an eye on it. The most popular chain of exchanges here is travelex and they have a website so I would check it out to compare the difference between the rate in USA and Aust.

Just a note on using ATM's- one of the biggest rip offs that face Australians is the fees charged by Aussie banks to use ATM's- it is even worse for overseas accounts. I would check with your bank who their affiliate is in Australia and only use their ATM's if you can help it. Banks here have ridiculous exchange rates. Exchanges also charge a commission fee and not a flat rate (not sure if that is the same in the USA)

When we came to the USA for our wedding we exchanged all our money before we left Australia (it was during the period when the Aussie dollar was really strong) and we exchanged all of ours at an Australia Post outlet (they are everywhere). They do not charge a fee for changing the money (the trade off is their rate is ususally 1 - 2 cents worse) but when we worked it all out the fact that we weren't paying a commission fee outwieghed the worse rate.

Another thing to note is that depending on where you are going ATM's may not be readily available or dispense a high amount of cash (talking outback/remote places here).

If you have a visa or mastercard debit card then that should work fine everywhere.

alithebride

not for australia but any other country a small amount of their currency before I go and then i use the ATMs when I get there. I avoid exchange booths at all costs. be sure you contact your bank to make sure your card wil work and that they know you'll be using your card abroad.

[Deleted User]

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_honeymoon_exchanging-money?plckFindPostKey=Cat:Wedding%20BoardsForum:11Discussion:9f18d408-1637-40e2-86d6-8cf061f9473bPost:182ff3b6-852e-45a2-8952-71b2e445d9c2">Re: Exchanging Money</a>:
[QUOTE]I'm sure they will take American money. I've never cashed money when going out of the country.
Posted by almost-a-bride[/QUOTE]

<div>
</div><div>Are you for real?  If so you haven't been many places and Aus. for sure will not take American money.  I guess you only go to a small circle of places.  Holy crap.</div>

butterflyjumper1

when i went to australia, i exchanged a small amount of money prior to departing just so i would be able to take care of any necessities, pay a cab driver, etc. when i landed. then i was easily able to exchange more in australia at local banks as i needed it. i definitely do not recall anywhere in australia acceping USD...

aerostyle where are you headed to in aussie?!? i would love to go back, i am so jealous of your honeymoon!

j_jaye

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_honeymoon_exchanging-money?plckFindPostKey=Cat:Wedding BoardsForum:11Discussion:9f18d408-1637-40e2-86d6-8cf061f9473bPost:182ff3b6-852e-45a2-8952-71b2e445d9c2">Re: Exchanging Money</a>:
[QUOTE]I'm sure they will take American money. I've never cashed money when going out of the country.
Posted by almost-a-bride[/QUOTE]

I know it will be a shock but no USD is not legal currency here in Australia!

[Deleted User]

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_honeymoon_exchanging-money?plckFindPostKey=Cat:Wedding BoardsForum:11Discussion:9f18d408-1637-40e2-86d6-8cf061f9473bPost:ab961ac6-0c18-4a03-8374-24d012065991">Re: Exchanging Money</a>:
[QUOTE]In Response to Re: Exchanging Money : I know it will be a shock but no USD is not legal currency here in Australia!
Posted by j_jaye[/QUOTE]

Yes, contrary to popular belief, the rest of the world does not revolve around the US.  I'm happy to see that *most* of the other posters on here are much more open minded than that though!

butterflyjumper1

i was in brisbane and traveled around the gold coast!! would have LOVED to have made it up to sydney but didn't get a chance to as i was there for a competition. have so much fun!! when i was there a number of years ago the exchange rate for us was great so i got some super deals on cute clothes

carynlwerner

Totally agree. Wells Fargo is great and using your charge card (I've used my Amex card) gives you a great exchange rate normally. On occassion, USD may be preferred actually.