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Australia Post Exchange Rates Compared

In this article we take a look at Australia Post exchange rates and foreign currency services. Getting your travel money from the local Auspost branch is convenient but with a little planning (and ordering online) you can also save money for your next trip abroad.

#Reviews #AUD #Currency-Exchange
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Exchange Rates 4.7
Customer Service 2.3
Ease of Use 3.7

Australia Post Exchange Rates – How do they Compare?

Australia Post branches are a one stop shop, providing tons of helpful services to help you prep for an overseas trip. Australia Post provides foreign currency exchange, travel money cards, traveller’s cheques and foreign money transfer to bank accounts or cash pickup. You can also get international travel insurance from Australia Post, international mobile SIMs and they can hold or redirect your mail until you get back from your trip.

Australia Post Currency Exchange Rates vs the Banks

The below live travel money comparison table shows how much you could save on your next travel money purchase by ordering online for Auspost pickup vs the Average Bank Rate. This example shows you the situation where you want to change $AUD 2,000 for foreign cash, note the margins are compared to the current market mid-rate.

 
Travel Money ProvidersAmount USD($)Exchange RateFee AUDTotal CostDeal Links
Australia Post logo
661.20 USD
Compare
0.6612$0 BPay, Card 0.72%-1%3.5%
Travel Money Oz logo
668.60 USD
7.4 USD
0.6686$0 BPay, Credit Card 1%2.42%
Westpac logo
666.86 USD
5.66 USD
0.6736$102.68%
ANZ Bank logo
656.47 USD
4.73 USD
0.6631$104.19%
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
652.06 USD
9.14 USD
0.6601104.84%
Bank of Melbourne Foreign Currency
Bank of Melbourne logo
651.28 USD
9.92 USD
0.6612$154.95%
BankSA Foreign Currency
BankSA logo
651.28 USD
9.92 USD
0.6612$154.95%
Commonwealth Bank (CBA) logo
650.13 USD
11 USD
0.6567$105.12%
St George Bank logo
646.16 USD
15 USD
0.656$155.7%
National Australia Bank (nab) logo
642.21 USD
19 USD
0.6487106.27%
Australia Post: 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:0.6612 (3.5% from mid-rate)
USD amount:661.20 USD
Total Cost:3.5%
Time:18:24 Local
Currency Services:Online order, Branch pickup, $10 fee for orders under $1000
Delivery/Collect:2-3 days
Rating:
 
: 4/5.0
Reviews:
Travel Money Oz: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$0 BPay, Credit Card 1%
Exchange Rate:0.6686 (2.42% from mid-rate)
USD amount:668.60 USD
Total Cost:2.42%
Time:
Rate Fetched: Mon Jun 17 2019 18:00:07 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup
Delivery/Collect:3-5 days
Rating:
 
: 4.2/5.0
Reviews:
Westpac: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$10 AUD (1%)
Exchange Rate:0.6736 (1.69% from mid-rate)
USD amount:666.86 USD
Total Cost:2.68%
Time:
Rate Fetched: website - Mon Apr 15 2019 01:04:04 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2/5.0
Reviews:
ANZ Bank: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$10 AUD (1%)
Exchange Rate:0.6631 (3.23% from mid-rate)
USD amount:656.47 USD
Total Cost:4.19%
Time:
Rate Fetched: website - Mon Jun 17 2019 18:03:05 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 3/5.0
Reviews:
 

Banks - Average Rate

Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:10
Exchange Rate:0.6513 (4.95% from mid-rate)
USD amount:652.06 USD
Total Cost:4.84%
Currency Services:Branch
Delivery/Collect:-
Bank of Melbourne: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$15 AUD (Minimum fee)
Exchange Rate:0.6612 (3.5% from mid-rate)
USD amount:651.28 USD
Total Cost:4.95%
Time:
Rate Fetched: website - 18:24 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:0.6612 (3.5% from mid-rate)
USD amount:651.28 USD
Total Cost:4.95%
Time:
Rate Fetched: website - 18:24 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:0.6567 (4.16% from mid-rate)
USD amount:650.13 USD
Total Cost:5.12%
Time:
Rate Fetched: website - Mon Jun 17 2019 18:02:01 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1.2/5.0
Reviews:
St George Bank: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$15 AUD (Minimum fee)
Exchange Rate:0.6560 (4.26% from mid-rate)
USD amount:646.16 USD
Total Cost:5.7%
Time:
Rate Fetched: website - 18:24 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:0.6487 (5.33% from mid-rate)
USD amount:642.21 USD
Total Cost:6.27%
Time:
Rate Fetched: website - 18:24 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2.1/5.0
Reviews:
 
Snapshot 06/17/2019 - See full table
Auspost currency exchange rates vs bank average
 

Australia Post Exchange Rates – Savings Tip – Order Travel Cash Online for Better Currency Rates

Auspost provides an extensive and convenient branch network for people who prefer to do their foreign exchange in person. This “Australia Post Exchange Rates convenience” comes at a cost with higher exchange rate margins, however, these can be minimised by pre-ordering your foreign cash online for pickup at the Auspost branch or another convenient location.

Australia Post Exchange Rate service is provided by Travelex. The important thing to know here is that you can get better rates online than available in branch.

To prove this point, the author went to his local AusPost branch to check the Australia Post Exchange Rates available in branch versus ordering online for pick-up at the very same branch.

For this trip, I would need 500 of each US dollars, Euros, British Pounds, NZ Dollars and 50,000 of Japanese Yen.

As you can see from the table below I would save around 3% by ordering online (note exchange rates were valid for 21st July, 2018).

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%
Table showing Online vs In-branch Savings with AusPost
Click on the link below to order your travel money online from Travelex and select to pick up at your foreign cash at your nearest located Auspost branch.

Australia post logo Australia Post Travel Money Travelex logo

Order travel money online

Save money for your trip by ordering your foreign cash online from Travelex, you can still pickup your money in person at any AusPost branch.

Note a $10 collection fee applies for Australia Post foreign currency collections or Travelex home delivery orders that are under $AUD1,000.


Sending money abroad with AusPost

Australia Post is an agent for Western Union, as such all the exchange rates and fees you will get from a visit to an Auspost branch to send money overseas will be those of Western Union.

Western Union are really only a good option if you are in a rush or you and/or the recipient do not have bank accounts.

BestExchangeRates recommends:

  • For bank to bank transfers, it is always better to use a FX specialist.
  • Find the best provider and rates with our comparison calculator.
  • Consider much cheaper and better options such as TorFX, OFX and World First.

Order foreign cash online via Travelex for pick-up at your local Auspost branch – Save Time & Money.

 

Further Reading

 

Booming Commodities Can’t Save Australian Dollar

The Australian dollar is at or near multi-month lows against a number of major currencies in spite of a rampant iron ore market — once a great influence on AUD.

Last update: 15 Jun, 2019

Revolut Card in Australia – Review

We review Revolut, a digital bank that allows users to receive, send and spend money at the interbank exchange rate.

Last update: 17 Jun, 2019

Sterling Nears 5-Month Low Versus Euro

The UK economy is shrinking, as is the pound, which is buying less than 1.12 euros for the first time since mid-January. Investors are becoming increasingly unsettled over Brexit, particularly with Boris Johnson a hot favourite to become the UK’s next prime minister.

Last update: 11 Jun, 2019

  

Posted to: Reviews

 

3 Reviews for “Australia Post Exchange Rates Compared”

  1. Avatar Bill says:

    I am giving 5 stars for the exchange rates when ordered Online has recommended here, 2 stars for the customer service in branch (they mean well but foreign exch is not a knowledge strength!) and 5 stars for Ease of use, when order via the Travelex website. I will order this way again, Thx.

    4
  2. Avatar jess says:

    The staff at my local post office just told me to order online! Good rates and easy to use if you order online.

    3.3
  3. Avatar Sophie says:

    Am glad I read this post before I bought currency from Oz Post, the staff were helpful but took a long time to figure out how to use their system to give me an exchange rate. Much easier to order online and less ugly looks from the long queue behind me while I was asking my “silly” questions.

    3.3

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