In this article we show you how to save money if you find yourself looking for Foreign Cash in the Melbourne CBD.
David Brown Australia’s second biggest city is a hive of activity that has a special appeal to those seeking to satisfy their arts and cultural apetites as well as their discerning palates. With reason, (but without conclusive data – just plenty of anecdotal evidence), the neighbourhoods of Fitzroy, Collingwood, and Brunswick as well as the CBD, have been touted as serving the best coffee in the world.
The curious thing behind the huge success of the cafe culture in Melbourne, is there is no template for a “Melbourne cafe”. Each cafe and neighbourhood in which it has been cultivated, has it’s own unique vibe. This in itself provides a great underlying mission for exploring Melbourne.
If not for food or coffee, you may also be in the Melbourne CBD doing some last minute shopping; picking up a backpack for an overseas trip or perhaps ducking out of work to grab some foreign cash for a business trip. Before you hit the streets you are better off ordering your foreign cash online from Travelex and then picking up the cash at a Post Office branch near to where you live or work.
You will find that you can save a couple of percent on the exchange rate margin by pre-ordering your cash. Our Review of Auspost exchange rates includes the following table that shows you an example of how much you can save.
Whatever your reason for visiting, and there are so many possible reasons, before you hit the streets you are better off ordering your foreign cash online from Foreign Xchange or Travelex and then picking up the cash at a Post Office branch near to where you live or work.
You will find that you can save a couple of percent on the exchange rate margin by pre-ordering your cash. Our Review of Auspost exchange rates includes the following table that shows you an example of how much you can save.
| Currency | Amount | Branch Rate | Online Rate | Branch Cost | Online Cost | Online Saving | Saving % |
|---|---|---|---|---|---|---|---|
| USD | $500 | 0.6924 | 0.7138 | $722.14 | $700.48 | $21.66 | 3% |
| EUR | €500 | 0.5852 | 0.6033 | $854.41 | $828.78 | $25.63 | 3% |
| GBP | £500 | 0.5239 | 0.5401 | $954.39 | $925.75 | $28.63 | 3% |
| JPY | ¥50,000 | 75.372 | 78.5122 | $663.38 | $636.84 | $26.54 | 4% |
| NZD | $500 | 1.0223 | 1.0539 | $489.10 | $474.43 | $14.67 | 3% |
| Total | $4,698.21 | $4,698.21 | $129.85 | 3% |
These tables show the latest rates from some major Australian banks (CBA, ANZ and Westpac) for foreign transfers and travel money. The percentages with the rates show how much margin the bank is charging compared to the market mid-rate.
The tables are updated hourly, for the latest comparison goto our comparison calculators for Foreign Transfers and Travel Money.
You can click the rates to goto directly to the comparison table for the currency and transaction type of your choice – the percentage margins for each rate are to the latest market midrate
Get better rates than available to you in-branch by first ordering online from Foreign Xchange for home delivery, you can still pick up in person at any Australia Post branch.
Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors or users should not be taken as a reference to buy or sell any financial product.