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Best Currency Exchange Rates in the Melbourne CBD – BER Guide

In this article we show you how to save money if you find yourself looking for Foreign Cash in the Melbourne CBD.

Locations AUD Currency Exchange Travel
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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 Travelex, Post Office or HSBC branch.

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%
Table showing Online vs In-branch Savings with AusPost (exchange rates were valid for 21st July, 2018)
 

Melbourne CBD Currency Exchange Rates vs the Banks

The below live travel money comparison table shows how much you could save on your next foreign transfer or 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.

 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Travel Money Providers
Ratings & Reviews
Amount USD($)Exchange RateFee AUDTotal CostCurrency ServicesDelivery/CollectDeal Links
 
Travelex Online AU logo
692.10 USD
Best Overall
0.6921$0 BPay, Card 0.72%-1%2.27%Online order, Branch pickup, Home delivery2-3 days
 
Travel Money Oz logo
690.80 USD
1.3 USD
0.6908$0 BPay, Credit Card 1%2.46%Online order, Branch pickup3-5 days
 
ANZ Bank logo
679.04 USD
13 USD
0.6859$104.12%Branch-
Bank of Melbourne Foreign Currency
Bank of Melbourne logo
673.15 USD
19 USD
0.6834$154.95%Branch-
BankSA Foreign Currency
BankSA logo
673.15 USD
19 USD
0.6834$154.95%Branch-
 
Commonwealth Bank (CBA) logo
672.11 USD
20 USD
0.6789$105.1%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
670.86 USD
21 USD
0.6791105.27%Branch-
 
St George Bank logo
668.03 USD
24 USD
0.6782$155.67%Branch-
 
Westpac logo
666.86 USD
25 USD
0.6736$105.84%Branch-
 
National Australia Bank (nab) logo
663.70 USD
28 USD
0.6704106.28%Branch-
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:0.6921 (2.27% from mid-rate)
USD amount:692.10 USD
Total Cost:2.27%
Time:
Rate Fetched: Sat Mar 23 2019 04:00:04 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
Travel Money Oz: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$0 BPay, Credit Card 1%
Exchange Rate:0.6908 (2.46% from mid-rate)
USD amount:690.80 USD
Total Cost:2.46%
Time:
Rate Fetched: Sat Mar 23 2019 04:00:05 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup
Delivery/Collect:3-5 days
Rating:
 
: 4.2/5.0
Reviews:
ANZ Bank: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$10 AUD (1%)
Exchange Rate:0.6859 (3.15% from mid-rate)
USD amount:679.04 USD
Total Cost:4.12%
Time:
Rate Fetched: website - Sat Mar 23 2019 04:03:04 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:0.6834 (3.5% from mid-rate)
USD amount:673.15 USD
Total Cost:4.95%
Time:
Rate Fetched: website - 6:05 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:0.6834 (3.5% from mid-rate)
USD amount:673.15 USD
Total Cost:4.95%
Time:
Rate Fetched: website - 6:05 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:0.6789 (4.14% from mid-rate)
USD amount:672.11 USD
Total Cost:5.1%
Time:
Rate Fetched: website - Sat Mar 23 2019 04:02:02 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:0.6732 (4.94% from mid-rate)
USD amount:670.86 USD
Total Cost:5.27%
Currency Services:Branch
Delivery/Collect:-
St George Bank: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$15 AUD (Minimum fee)
Exchange Rate:0.6782 (4.24% from mid-rate)
USD amount:668.03 USD
Total Cost:5.67%
Time:
Rate Fetched: website - 6:05 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1/5.0
Reviews:
Westpac: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$10 AUD (1%)
Exchange Rate:0.6736 (4.89% from mid-rate)
USD amount:666.86 USD
Total Cost:5.84%
Time:
Rate Fetched: website - Sat Mar 23 2019 04:04:04 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2/5.0
Reviews:
National Australia Bank (nab): Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:10
Exchange Rate:0.6704 (5.34% from mid-rate)
USD amount:663.70 USD
Total Cost:6.28%
Time:
Rate Fetched: website - 6:05 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2.1/5.0
Reviews:
 
Online currency exchange rates vs bank average
 

 

Travelex logo

Get $10 Off at Travelex stores (exchanging foreign cash to AUD)

To save you money exchanging foreign cash to AUD we have organised a special coupon that will save you $10 when you exchange more than $500 equivalent of AUD.

Get your $10 Coupon

Make sure you only unlock your discount code and present to a salesperson once you are in a Travelex store as you will only have 30 minutes to redeem this promotion.

 

Melbourne CBD Currency Exchange Locations

 

Pre-Order Foreign Cash & Save

Travelex logo Australia Post logo HSBC logo

Order travel money online

Get better rates than available to you by walking into Travelex, Auspost or HSBC branches by pre-ordering online from Travelex, you can still pick up in person at any Travelex, Auspost or HSBC branch.

 

Further Reading

 

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Updated: 20 Mar, 2019

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Updated: 19 Mar, 2019

Australian Dollar Still Struggling; AUD/GBP at Lowest Since 2016

A slight advance in AUD/USD this week to $0.705 is hardly cause for celebration; however, the stability this represents following 3 weeks of losses would normally signify reduced currency pessimism—in this case, it doesn’t even do that.

Updated: 19 Mar, 2019

  

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