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Australia – Forex Guides, Reviews & News

Welcome to BER Australia. Here we list useful guides and FX provider reviews plus market updates keep our customers aware of the latest AUD dollar exchange rates, charts and rate changes in the major AUD cross currency pairs.

 
Sending a LARGER foreign transfer? Request a Multi-Vendor Quote ▾
Foreign Transfer Providers
Ratings & Reviews
Receive USD($)Exchange RateFee AUDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
OFX (OzForex) logo
7,055 USD
Best Overall
0.70550^1.27%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
 
TorFX logo
7,048 USD
7 USD
0.704801.37%Bank Transfers - Online & Phone1-2 days
 
ANZ Bank logo
6,883.59 USD
171 USD
0.6896183.67%Online, Branch, Bank Transfers2-3 days
BankSA International Money Transfers
BankSA logo
6,882.2 USD
173 USD
0.689620.013.69%Online, Branch, Bank Transfers2-3 days
Bank of Melbourne International Money Transfers
Bank of Melbourne logo
6,881.52 USD
173 USD
0.6896213.7%Online, Branch, Bank Transfers2-3 days
 
Bank of Queensland logo
6,875.31 USD
180 USD
0.6896303.79%Online, Branch, Bank Transfers2-3 days
 
National Australia Bank (nab) logo
6,828.94 USD
226 USD
0.6844224.44%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
National Australia Bank (nab) logo Westpac logo ANZ Bank logo Commonwealth Bank (CBA) logo St George Bank logo Bank of Queensland logo Bank of Melbourne logo BankSA logo
6,823 USD
232 USD
0.6837154.51%Online, Branch, Bank Transfers2-3 days
 
Commonwealth Bank (CBA) logo
6,764.94 USD
290 USD
0.67696 5.33%Online, Branch, Bank Transfers2-3 days
 
St George Bank logo
6,748.48 USD
307 USD
0.6762205.56%Online, Branch, Bank Transfers2-3 days
 
Westpac logo
6,722.53 USD
332 USD
0.6736205.93%Online, Branch, Bank Transfers2-3 days
OFX (OzForex): Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:0^ - No fees for BestExchangeRates users (normally $15 for transfers over $10K)
Exchange Rate:0.7055 (1.27% from mid-rate)
USD amount:7,055 USD
Total Cost:1.27%
Time:
Rate Fetched: Thu Apr 18 2019 22:00:04 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
TorFX: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:0
Exchange Rate:0.7048 (1.37% from mid-rate)
USD amount:7,048 USD
Total Cost:1.37%
Difference:
7 USD less than using OFX (OzForex)
Time:0:00 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.7/5.0
Reviews:
ANZ Bank: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:18
Exchange Rate:0.6896 (3.5% from mid-rate)
USD amount:6,883.59 USD
Total Cost:3.67%
Difference:
171 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - Thu Apr 18 2019 22:03:04 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 3/5.0
Reviews:
BankSA: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:20.01
Exchange Rate:0.6896 (3.5% from mid-rate)
USD amount:6,882.2 USD
Total Cost:3.69%
Difference:
173 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - 0:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
Bank of Melbourne: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:21
Exchange Rate:0.6896 (3.5% from mid-rate)
USD amount:6,881.52 USD
Total Cost:3.7%
Difference:
173 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - 0:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
Bank of Queensland: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:30
Exchange Rate:0.6896 (3.5% from mid-rate)
USD amount:6,875.31 USD
Total Cost:3.79%
Difference:
180 USD less than using OFX (OzForex)
Time:
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 3/5.0
Reviews:
National Australia Bank (nab): Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:22
Exchange Rate:0.6844 (4.23% from mid-rate)
USD amount:6,828.94 USD
Total Cost:4.44%
Difference:
226 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - Thu Apr 18 2019 22:05:03 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2.1/5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:15
Exchange Rate:0.6995 (2.11% from mid-rate)
USD amount:6,823 USD
Total Cost:4.51%
Difference:
232 USD less than using OFX (OzForex)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Commonwealth Bank (CBA): Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:6
Exchange Rate:0.6769 (5.28% from mid-rate)
USD amount:6,764.94 USD
Total Cost:5.33%
Difference:
290 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - Thu Apr 18 2019 22:02:02 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1.2/5.0
Reviews:
St George Bank: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:20
Exchange Rate:0.6762 (5.37% from mid-rate)
USD amount:6,748.48 USD
Total Cost:5.56%
Difference:
307 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - 0:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1/5.0
Reviews:
Westpac: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:20
Exchange Rate:0.6736 (5.74% from mid-rate)
USD amount:6,722.53 USD
Total Cost:5.93%
Difference:
332 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - Mon Apr 15 2019 01:04:04 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2/5.0
Reviews:
 
Example of savings sending $10K AUD to USD
 

 

Sending a LARGER foreign transfer? Request a Multi-Vendor Quote ▾
Travel Money Providers
Ratings & Reviews
Amount USD($)Exchange RateFee AUDTotal CostCurrency ServicesDelivery/CollectDeal Links
 
Travel Money Oz logo
698.30 USD
Best Overall
0.6983$0 BPay, Credit Card 1%2.28%Online order, Branch pickup3-5 days
 
Travelex Online AU logo
698.10 USD
0.2 USD
0.6981$0 BPay, Card 0.72%-1%2.31%Online order, Branch pickup, Home delivery2-3 days
 
ANZ Bank logo
682.70 USD
16 USD
0.6896$104.46%Branch-
Bank of Melbourne Foreign Currency
Bank of Melbourne logo
679.26 USD
19 USD
0.6896$154.95%Branch-
BankSA Foreign Currency
BankSA logo
679.26 USD
19 USD
0.6896$154.95%Branch-
 
Commonwealth Bank (CBA) logo
676.86 USD
21 USD
0.6837$105.28%Branch-
Banks - Average Rate
Westpac logo ANZ Bank logo Commonwealth Bank (CBA) logo St George Bank logo National Australia Bank (nab) logo Bank of Melbourne logo BankSA logo
675.35 USD
23 USD
0.6837105.49%Branch-
 
St George Bank logo
672.76 USD
26 USD
0.683$155.86%Branch-
 
National Australia Bank (nab) logo
669.74 USD
29 USD
0.6765106.28%Branch-
 
Westpac logo
666.86 USD
31 USD
0.6736$106.68%Branch-
Travel Money Oz: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$0 BPay, Credit Card 1%
Exchange Rate:0.6983 (2.28% from mid-rate)
USD amount:698.30 USD
Total Cost:2.28%
Time:
Rate Fetched: Thu Apr 18 2019 22:00:05 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup
Delivery/Collect:3-5 days
Rating:
 
: 4.2/5.0
Reviews:
Travelex Online AU: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$0 BPAY, 0.77% MasterCard debit, 0.94% MasterCard credit, 0.72% Visa debit and 1% Visa credit
Exchange Rate:0.6981 (2.31% from mid-rate)
USD amount:698.10 USD
Total Cost:2.31%
Time:
Rate Fetched: Thu Apr 18 2019 22:00:04 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
ANZ Bank: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$10 AUD (1%)
Exchange Rate:0.6896 (3.5% from mid-rate)
USD amount:682.70 USD
Total Cost:4.46%
Time:
Rate Fetched: website - Thu Apr 18 2019 22:03:04 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 3/5.0
Reviews:
Bank of Melbourne: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$15 AUD (Minimum fee)
Exchange Rate:0.6896 (3.5% from mid-rate)
USD amount:679.26 USD
Total Cost:4.95%
Time:
Rate Fetched: website - 0:00 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
BankSA: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$15 AUD (Minimum fee)
Exchange Rate:0.6896 (3.5% from mid-rate)
USD amount:679.26 USD
Total Cost:4.95%
Time:
Rate Fetched: website - 0:00 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
Commonwealth Bank (CBA): Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$10 AUD (1%)
Exchange Rate:0.6837 (4.32% from mid-rate)
USD amount:676.86 USD
Total Cost:5.28%
Time:
Rate Fetched: website - Thu Apr 18 2019 22:02:02 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1.2/5.0
Reviews:
 

Banks - Average Rate

Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:10
Exchange Rate:0.6792 (4.95% from mid-rate)
USD amount:675.35 USD
Total Cost:5.49%
Currency Services:Branch
Delivery/Collect:-
St George Bank: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$15 AUD (Minimum fee)
Exchange Rate:0.6830 (4.42% from mid-rate)
USD amount:672.76 USD
Total Cost:5.86%
Time:
Rate Fetched: website - 0:00 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1/5.0
Reviews:
National Australia Bank (nab): Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:10
Exchange Rate:0.6765 (5.33% from mid-rate)
USD amount:669.74 USD
Total Cost:6.28%
Time:
Rate Fetched: website - 0:00 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2.1/5.0
Reviews:
Westpac: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$10 AUD (1%)
Exchange Rate:0.6736 (5.74% from mid-rate)
USD amount:666.86 USD
Total Cost:6.68%
Time:
Rate Fetched: website - Mon Apr 15 2019 01:04:04 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2/5.0
Reviews:
 
Example savings by ordering USD travel cash online
 

Australian Dollar Market Outlook

AUD/USD – 3 month chart

Improved risk appetite and thriving commodities markets helped lift the Australian dollar in April.

Per bank forecasts, the Australian dollar will strengthen slightly against the US dollar between now and mid-year, before weakening quite significantly into year-end.

In April, NAB predicted appreciation to US$0.74 before the end of June, from a mid-April rate of US$0.719.

In March, both Westpac and JP Morgan predicted an Aussie slide to US$0.68 in the second half of the year. Those banks were at least more optimistic than HSBC, which argued in February for US$0.66. ANZ said that the Aussie would lose value against resilient Asian currencies like the Chinese yuan and Singapore dollar.

In the second half of the year, major economic themes should re-emerge, many of which are negative; these include a housing market slump, the US-China trade spat and a weaker Chinese economy. In April, the Reserve Bank of Australia appeared to hint at a possible shift to a rate-cutting bias at its next meeting when it said it would “monitor developments and set monetary policy to support sustainable growth and inflation”—that would be an across-the-board negative for AUD.


 

Latest Currency News

SGD/MYR at 17-Month High; Ringgit Slumps on FTSE Index Deselection

What is arguably Southeast Asia’s most important exchange rate, Singapore dollar-Malaysian ringgit, leapt on Thursday to its highest level since November 2017, driven by FTSE Russell’s decision to reconsider Malaysia’s inclusion in an important bond index.

18 Apr, 2019 by Joel Wright

Commodities Boom Will Take Australian Dollar to US$0.74

The Australian dollar is forecast to climb to US$0.74 in the coming months, supported by a commodities boom that has seen the price of Australia’s largest export, iron ore, climb to a 5-year high.

15 Apr, 2019 by Joel Wright

Brexit This Year Now a Toss-Up, Bookmakers Say; What Next for Pound?

GBP Pound Sterling Brexit Deal on Financial Services

With the chance of a 2019 Brexit now reduced to 50 percent, the pound’s value is likely to remain capped for the time being, most likely near US$1.34, experts say. On the downside, US$1.24 is likely should the latest Article 50 extension be used to hold a UK general election.

14 Apr, 2019 by Joel Wright

Euro to Sink to US$1.08, Says ANZ

The euro hasn’t traded as low as US$1.08 since the early portion of 2017, but that’s where we’re heading within the next 3 months, analysts at ANZ believe.

7 Apr, 2019 by Joel Wright

 

US Dollar Market Outlook

USD/AUD – 3 month chart

In the third week of April the Dollar Index was rallying strongly towards the mid-97s, slightly below major resistance at 97.70, a break of which would be massively positive for the greenback. The index was up 1.7 percent year-to-date.

The dollar’s strength comes in spite of a dovish surprise in March from the Federal Reserve, which ditched two interest rate hikes from its 2019 projections. Fortunately for dollar holders, the rest of the world has problems and other important central banks also turned dovish, removing much of the incentive for selling USD.

Bloomberg research warned in April of potential for a large upcoming move in the US dollar, up or down. Over the past quarter-century, three prominent troughs in the JPMorgan Global FX Volatility Index were followed by dollar moves over 6-month periods worth 10-15 percent. The index was trading in mid-April at a 5-year low.

Compare AUD-USD Exchange Rates

 

 

Money Saving Guides

Comparing Australian Bank & FinTech Exchange Rates

We take a look at why not using your bank for foreign exchange is generally a good idea to save money. As an example, we show 6 tables to compare the 4 big Aussie banks to two currency exchange specialists, OFX and Travelex.

Updated: 25 Mar, 2019

Travelex vs TravelMoneyOz – Exchange Rates

To help you choose between Travelex and Travel Money Oz the following live exchange rates table shows who has the best exchange rate when ordering foreign currency online.

Updated: 5 Mar, 2019

Getting the best exchange rates sending money from Australia

The holy grail when you send money abroad is finding an organisation that you can trust and one that offers the best exchange rates along with transparent, smart and straightforward customer service.

Updated: 28 Feb, 2019

Prepaid Travel Cards – Comparing Features and Fees

We look at the Pros & Cons of using a Travel Card on your travels When planning an overseas trip figuring out how to access your money while away is complicated and often left to the last minute. You then end up paying high fees for changing foreign cash or with unexpected fees on your […]

Updated: 28 Feb, 2019

 

British Pound Market Outlook

GBP/AUD – 3 month chart

Update 14-April: The pound hovered between US$1.30 and US$1.31 (in line with 3-month averages) after the EU granted the UK a Brexit extension until the end of October. No-deal risk is gone for now and anything is possible, including a new British prime minister, a general election and/or second referendum.

Experts at MUFG said in April that sterling would likely trade between US$1.30 and US$1.34 until more clarity emerged.

If an election is called, the pound could depreciate to US$1.24, a UBS analyst said, due to “heightened uncertainty” (the opposition Labour party is consistently ahead in the polls).

Goldman Sachs said in April that sterling was set for a “big finish” (higher) once the gridlock in the UK parliament ends and a deal is agreed and certainty found.

Earlier this year, currency analysts at HSBC estimated that the pound would be valued at levels near US$1.10 in the event of no-deal, near US$1.45 with a deal and at US$1.55 if Brexit is cancelled.

Compare AUD-GBP Exchange Rates

 

Reviews – Money Transfer & Currency Exchange in Australia

TransferWise Borderless Account – BER Review

TransferWise’s Borderless Account allows users to hold and convert funds in 40 different currencies and send and spend internationally, all at the “real” exchange rate and with exceptionally low service fees. Users can also receive major-currency payments free of charge.

Updated: 7 Apr, 2019

TransferWise – BER Review

TransferWise has been making waves in the global payments market since it came on the scene back in 2011 and is undoubtedly one of the best services for sending money across borders.

Updated: 7 Apr, 2019

Commonwealth Bank Exchange Rates – BER Review

In this article we take a look at Commonwealth Bank and examine how CBA foreign exchange rates & international money transfer services compare to other providers available to you.

Updated: 5 Apr, 2019

 

Fintech FX News

TransferWise Announces PayNow Funding Option

TransferWise is now officially offering PayNow as a funding option for users in Singapore, the company has announced.

Updated: 29 Mar, 2019

Banking Sector Fights Back Against Fintech Rivals

Citigroup’s announcement this week of plans to develop its own consumer-payments platform is the latest indication of a fightback by the banking establishment against fintech rivals that threaten its most lucrative markets.

Posted: 27 Mar, 2019

Revolut Steps Up Brexit Preparations

Revolut CEO Nikolay Storonsky

Fintech hotshot Revolut has written to millions of its customers to warn that new verification documents will be needed in the event of a no-deal Brexit; it has also called on the UK government to get serious about post-Brexit tech visas.

Updated: 25 Mar, 2019

WorldFirst Owners Target European Expansion

Ant Financial, the Chinese fintech giant that recently acquired WorldFirst, has set its sights on Europe, where it plans to take its share of both cross-border and point-of-sale payments.

Updated: 25 Mar, 2019

 

Currency Exchange by Location in Australia

Best Travel Money Exchange Rates in the Sydney CBD – BER Guide
Best Currency Exchange Rates in the Melbourne CBD – BER Guide
Best Currency Exchange Rates on the Gold Coast – BER Guide
Best Currency Exchange Rates in Adelaide – BER Guide
Australia Post Exchange Rates Compared
Best Currency Exchange Rates in Brisbane CBD – BER Guide

 

Get a Better FX Deal when you Send and Spend Abroad.

 

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