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Best Exchange Rates

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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.

 

Why are Bank Exchange Rates so Poor?

While banks can handle international transfer of funds it is often not the main focus in their relationship with customers.

Banks are especially bad at offering payments to smaller countries or currencies that are not among of the most popular ie: AUD, USD, EUR, CAD, NZD etc.

Banks value the reltionship they have with their customers in terms of taking deposits and making loans, but less so in terms of payments especially international payments.

 

Latest Rates from the Big Four Aussie Banks

These four table show the latest rates from the big four Ausrtalia banks (CBA, ANZ,NAB 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.

CBA , 1AUD=Foreign TransfersTravel Money
AED - UAE dirham2.4592 (6.34%)2.4495 (6.76%)
ARS - Argentine peso26.01 (11.57%)
BRL - Brazilian real2.5008 (8.45%)
CAD - Canadian dollar0.8976 (6%)0.9007 (5.64%)
CHF - Swiss franc0.6673 (5.98%)0.6716 (5.3%)
CLP - Chilean peso439.13 (7.88%)
CNY - Chinese yuan4.5494 (4.79%)4.4941 (6.08%)
CZK - Czech Republic koruna15.09 (6.43%)14.89 (7.86%)
DKK - Danish krone4.4056 (6.07%)4.4282 (5.52%)
EUR - Euro0.5937 (5.47%)0.5967 (4.94%)
FJD - Fijian dollar1.4423 (4.49%)1.4169 (6.37%)
GBP - British pound sterling0.5147 (5.52%)0.5179 (4.87%)
HKD - Hong Kong dollar5.2707 (6%)5.3125 (5.17%)
HRK - Croatian kuna4.3042 (7.88%)
HUF - Hungarian forint191.17 (2.99%)182.58 (7.83%)
IDR - Indonesian rupiah9445.95 (6.3%)9196.87 (9.18%)
ILS - Israeli New Sheqel2.4161 (6.08%)2.3771 (7.82%)
INR - Indian rupee46.58 (5.05%)
JPY - Japanese yen74.85 (5.46%)75.13 (5.07%)
KRW - South Korean won763.63 (5.24%)746.87 (7.6%)
KWD - Kuwaiti dinar0.2045 (5.57%)0.2007 (7.57%)
LBP - Lebanese pound1018.45 (5.36%)
LKR - Sri Lankan rupee121.37 (4.5%)117.67 (7.78%)
MUR - Mauritian rupee22.11 (10.76%)22.7 (7.89%)
MXN - Mexican peso12.43 (7.96%)
MYR - Malaysian ringgit2.7317 (5.43%)
NOK - Norwegian krone5.7014 (5.61%)5.6935 (5.76%)
NPR - Nepalese rupee67.62 (15.53%)
NZD - New Zealand dollar0.9827 (5.18%)0.9867 (4.75%)
OMR - Omani rial0.2579 (6.24%)0.2549 (7.49%)
PGK - Papua New Guinean kina2.2441 (7.09%)
PHP - Philippine peso35.71 (4.79%)34.74 (7.71%)
PLN - Polish zloty2.5216 (6.32%)2.4887 (7.72%)
QAR - Qatari rial2.4101 (7.56%)
SAR - Saudi riyal2.5133 (6.24%)2.4827 (7.55%)
SBD - Solomon Islands dollar5.2765 (9.13%)5.1328 (12.18%)
SEK - Swedish krona6.2017 (5.15%)6.1801 (5.52%)
SGD - Singapore dollar0.906 (5.99%)0.9121 (5.28%)
THB - Thai baht21.15 (6.76%)21.33 (5.86%)
TOP - Tongan paanga1.4353 (12.09%)
TRY - Turkish lira3.7929 (2.71%)3.5569 (9.53%)
TWD - New Taiwan dollar20.39 (7.65%)
USD - U.S. dollar0.6754 (5.4%)0.6841 (4.06%)
VND - Vietnamese Dong15800.4 (4.75%)15206.9 (8.84%)
VUV - Vanuatu vatu73.89 (7.08%)71.6 (10.5%)
WST - Samoan tala1.6728 (10.99%)
XPF - CFP franc70.62 (5.81%)68.93 (8.4%)
ZAR - South African rand9.5976 (5.55%)9.5661 (5.89%)
Fri Mar 22, 2019 2:05 AEDT
CBA Exchange Rates - % margins to midrate
 
ANZ , 1AUD=Foreign TransfersTravel Money
AED - UAE dirham2.5041 (4.43%)2.5041 (4.43%)
BDT - Bangladeshi Taka56.632 (5.89%)
CAD - Canadian dollar0.9146 (4.03%)0.9146 (4.03%)
CHF - Swiss franc0.68 (4%)0.68 (4%)
CNY - Chinese yuan4.5417 (4.97%)
CZK - Czech Republic koruna15.3178 (4.85%)
DKK - Danish krone4.47 (4.54%)4.47 (4.54%)
EUR - Euro0.6009 (4.21%)0.6009 (4.21%)
FJD - Fijian dollar1.4915 (1.05%)1.4915 (1.05%)
GBP - British pound sterling0.5184 (4.76%)0.5184 (4.76%)
HKD - Hong Kong dollar5.41 (3.27%)5.41 (3.27%)
HUF - Hungarian forint187.3549 (5.08%)
ILS - Israeli New Sheqel2.4543 (4.42%)
INR - Indian rupee47.059 (3.98%)
JPY - Japanese yen75.99 (3.88%)75.99 (3.88%)
KRW - South Korean won756.0826 (6.29%)
KWD - Kuwaiti dinar0.2058 (4.91%)
LKR - Sri Lankan rupee121.347 (4.52%)
MUR - Mauritian rupee23.471 (4.34%)
MXN - Mexican peso12.8056 (4.8%)
MYR - Malaysian ringgit2.7458 (4.89%)
NOK - Norwegian krone5.798 (3.85%)
NZD - New Zealand dollar0.9989 (3.47%)0.9989 (3.47%)
OMR - Omani rial0.2593 (5.67%)
PGK - Papua New Guinean kina2.028 (18.5%)1.957 (22.8%)
PHP - Philippine peso35.976 (4.01%)
PLN - Polish zloty2.5587 (4.78%)
QAR - Qatari rial2.4836 (4.37%)
SAR - Saudi riyal2.559 (4.34%)
SBD - Solomon Islands dollar5.3628 (7.37%)
SEK - Swedish krona6.238 (4.54%)
SGD - Singapore dollar0.928 (3.48%)0.928 (3.48%)
THB - Thai baht21.71 (4.01%)21.71 (4.01%)
TOP - Tongan paanga1.5448 (4.14%)
TRY - Turkish lira3.6961 (5.4%)
USD - U.S. dollar0.6892 (3.29%)0.6892 (3.29%)
VUV - Vanuatu vatu76.1187 (3.94%)
WST - Samoan tala1.723 (7.76%)
XPF - CFP franc70.456 (6.05%)
ZAR - South African rand9.697 (4.47%)9.697 (4.47%)
Fri Mar 22, 2019 2:05 AEDT
ANZ Exchange Rates - % margins to midrate
 
NAB , 1AUD=Foreign Transfers
AED - UAE dirham2.4778 (5.54%)
BDT - Bangladeshi Taka56.75 (5.67%)
BHD - Bahraini dinar0.2568 (4.52%)
CAD - Canadian dollar0.9103 (4.53%)
CHF - Swiss franc0.677 (4.46%)
CNY - Chinese yuan4.5432 (4.93%)
CZK - Czech Republic koruna15.33 (4.76%)
DKK - Danish krone4.4685 (4.57%)
EUR - Euro0.5988 (4.58%)
FJD - Fijian dollar1.4197 (6.16%)
GBP - British pound sterling0.5193 (4.58%)
HKD - Hong Kong dollar5.3518 (4.39%)
HRK - Croatian kuna4.4417 (4.54%)
HUF - Hungarian forint188.4 (4.5%)
IDR - Indonesian rupiah9752 (2.96%)
ILS - Israeli New Sheqel2.4511 (4.56%)
INR - Indian rupee47.31 (3.42%)
JPY - Japanese yen75.36 (4.75%)
KES - Kenyan shilling68.51 (4.74%)
KWD - Kuwaiti dinar0.2061 (4.75%)
LKR - Sri Lankan rupee121.23 (4.62%)
MAD - Moroccan Dirham6.5334 (4.48%)
MUR - Mauritian rupee23.36 (4.84%)
MXN - Mexican peso12.82 (4.68%)
NOK - Norwegian krone5.7634 (4.48%)
NZD - New Zealand dollar0.9889 (4.52%)
OMR - Omani rial0.2624 (4.42%)
PGK - Papua New Guinean kina2.2361 (7.47%)
PHP - Philippine peso35.76 (4.64%)
PKR - Pakistani rupee94.56 (5.53%)
PLN - Polish zloty2.5576 (4.82%)
QAR - Qatari rial2.4823 (4.43%)
SAR - Saudi riyal2.5575 (4.4%)
SBD - Solomon Islands dollar5.2462 (9.76%)
SEK - Swedish krona6.2453 (4.42%)
SGD - Singapore dollar0.9189 (4.51%)
THB - Thai baht21.86 (3.29%)
TOP - Tongan paanga1.5152 (6.18%)
USD - U.S. dollar0.682 (4.38%)
VUV - Vanuatu vatu75.81 (4.37%)
WST - Samoan tala1.7136 (8.35%)
XPF - CFP franc70.86 (5.45%)
ZAR - South African rand9.6831 (4.62%)
Fri Mar 22, 2019 2:05 AEDT
NAB Exchange Rates - % margins to midrate
 
Westpac Exchange Rates - % margins to midrate
 

 

Now Compare the exchange rates from OFX and Travelex

If you’re still using your Australian bank to make money transfers chances are you’re paying excessive fees and receiving inferior exchange rates.

To illustrate the point, the two tables below let you can compare the above bank exchange rates (and margins) to those currently being offered by two of our FinTech partners – OFX for foreign transfers and Travelex for online travel money purchases.

OFX , 1AUD=Foreign Transfers
AED - UAE dirham2.5903 (0.93%)
BND - Brunei dollar0.9228 (4.19%)
CAD - Canadian dollar0.9436 (0.84%)
CHF - Swiss franc0.7001 (1%)
CNY - Chinese yuan4.6286 (2.98%)
CZK - Czech Republic koruna15.7832 (1.69%)
DKK - Danish krone4.6228 (1.06%)
EUR - Euro0.6209 (0.82%)
FJD - Fijian dollar1.4788 (1.89%)
GBP - British pound sterling0.5391 (0.74%)
HKD - Hong Kong dollar5.5202 (1.19%)
HUF - Hungarian forint194.6493 (1.13%)
IDR - Indonesian rupiah9743.9235 (3.02%)
ILS - Israeli New Sheqel2.533 (1.15%)
INR - Indian rupee47.9665 (2.01%)
JPY - Japanese yen78.1513 (1.01%)
KRW - South Korean won777.7135 (3.31%)
KWD - Kuwaiti dinar0.2132 (1.27%)
LKR - Sri Lankan rupee122.9466 (3.13%)
MAD - Moroccan Dirham6.6157 (3.16%)
MGA - Malagasy ariary2444.1023 (3.56%)
MXN - Mexican peso13.2942 (0.87%)
MYR - Malaysian ringgit2.8208 (2.07%)
NOK - Norwegian krone5.9573 (1.05%)
NZD - New Zealand dollar1.0252 (0.84%)
OMR - Omani rial0.2713 (1%)
PEN - Peruvian Nuevo sol2.2963 (2.04%)
PGK - Papua New Guinean kina2.2882 (5%)
PHP - Philippine peso36.4047 (2.79%)
PKR - Pakistani rupee95.1792 (4.82%)
PLN - Polish zloty2.6558 (0.93%)
SAR - Saudi riyal2.6032 (2.56%)
SBD - Solomon Islands dollar5.0738 (13.47%)
SCR - Seychellois rupee9.0293 (7.8%)
SEK - Swedish krona6.451 (1.07%)
SGD - Singapore dollar0.9501 (1.05%)
THB - Thai baht22.342 (1.02%)
TOP - Tongan paanga1.445 (11.31%)
TRY - Turkish lira3.8482 (1.21%)
TWD - New Taiwan dollar21.2028 (3.48%)
USD - U.S. dollar0.707 (0.68%)
VND - Vietnamese Dong15462.0815 (7.01%)
VUV - Vanuatu vatu74.8427 (5.69%)
WST - Samoan tala1.6787 (10.57%)
XOF - West African franc396.3799 (3.6%)
XPF - CFP franc72.4965 (3.04%)
ZAR - South African rand10.0348 (0.95%)
Fri Mar 22, 2019 2:05 AEDT
OFX Exchange Rates - % margins to midrate
 
Travelex , 1AUD=Travel Money
AED - UAE dirham2.4399 (7.18%)
ARS - Argentine peso8.377 (246.42%)
ARS - Argentine peso24.0657 (20.59%)
BHD - Bahraini dinar0.2349 (14.26%)
BND - Brunei dollar0.8881 (8.26%)
BRL - Brazilian real2.4386 (11.22%)
CAD - Canadian dollar0.8911 (6.78%)
CHF - Swiss franc0.6625 (6.75%)
CLP - Chilean peso429.3346 (10.34%)
CNY - Chinese yuan4.4252 (7.73%)
CZK - Czech Republic koruna14.4074 (11.47%)
DKK - Danish krone4.3551 (7.29%)
EGP - Egyptian pound11.4662 (7.18%)
EUR - Euro0.5988 (4.58%)
FJD - Fijian dollar1.4302 (5.38%)
GBP - British pound sterling0.5185 (4.74%)
HKD - Hong Kong dollar5.2718 (5.98%)
HRK - Croatian kuna4.198 (10.61%)
HUF - Hungarian forint176.0213 (11.85%)
IDR - Indonesian rupiah9312.389 (7.82%)
ILS - Israeli New Sheqel2.3086 (11.02%)
INR - Indian rupee42.1322 (16.13%)
JPY - Japanese yen74.9175 (5.37%)
KRW - South Korean won736.4414 (9.12%)
KWD - Kuwaiti dinar0.1938 (11.4%)
LKR - Sri Lankan rupee113.1549 (12.09%)
MAD - Moroccan Dirham5.8845 (16%)
MOP - Macanese pataca4.9598 (16.06%)
MUR - Mauritian rupee22.1144 (10.74%)
MXN - Mexican peso12.0793 (11.1%)
MYR - Malaysian ringgit2.6749 (7.67%)
NOK - Norwegian krone5.5809 (7.89%)
NZD - New Zealand dollar0.9992 (3.44%)
OMR - Omani rial0.2473 (10.8%)
PGK - Papua New Guinean kina2.1527 (11.63%)
PHP - Philippine peso33.5824 (11.43%)
PKR - Pakistani rupee87.6311 (13.88%)
PLN - Polish zloty2.4013 (11.64%)
QAR - Qatari rial2.3377 (10.89%)
RUB - Russian ruble40.2136 (12.87%)
SAR - Saudi riyal2.4732 (7.96%)
SBD - Solomon Islands dollar4.9775 (15.68%)
SEK - Swedish krona5.9908 (8.85%)
SGD - Singapore dollar0.9043 (6.19%)
THB - Thai baht21.1555 (6.73%)
TOP - Tongan paanga1.4167 (13.56%)
TWD - New Taiwan dollar19.8079 (10.81%)
USD - U.S. dollar0.6902 (3.14%)
VND - Vietnamese Dong13962.6325 (18.54%)
VUV - Vanuatu vatu72.8784 (8.56%)
WST - Samoan tala1.6469 (12.74%)
XPF - CFP franc68.4775 (9.12%)
ZAR - South African rand9.4495 (7.2%)
Fri Mar 22, 2019 2:05 AEDT
Travelex Online Exchange Rates - % margins to midrate
 

You can use our foreign transfer calculator which ranks FX providers and banks according to customer service, use feedback plus most importantly the exchange rate costs compared to the mid-market rate and to the banks.

Making overseas transfers via your bank’s online banking service is often convenient and relatively easy. But Banks know this so the exchange rates and fees they charge are very expensive – often 5% to 6% more than you can get by using an Online Payment Provider.

So it is important next time you are looking to send money abroad that you Compare the Exchange Rates of your bank to our recommended BER FinTech partners.

 

How to Compare Travel Money Rates and Fees

In this section we look at how you can pay fewer fees and avoid common traps when you’re buying Travel Money.

The fees & costs for buying foreign cash comes in three forms:

  1. Minimum charges – which can be expensive if you’re only exchanging small amounts of money.
  2. Flat fees – which can actually be good value because they don’t change, even if you’re exchanging large sums of money.
  3. Handling fees – which are what the currency seller charges for its exchange services.

Some currency sellers advertise commission-free foreign exchange, but while this may sound like a good deal, be aware they could be making up for the loss of commission with higher exchange rates. As a result, this could actually be more expensive than if you’d just paid commission.

If you plan ahead by a few days and order your travel money online you can get upto 10% better exchange rates probably end up extending your travel budget by a couple of precious days.

Our travel money rate & fee calculator is programmed with these various fee models to make it easy for you to find the best deal for your particular foreign exchange needs.

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

 

 

Further Reading

 

US Dollar Plunges After Fed Signals No Rate Hikes This Year

The US dollar crumbled on Wednesday after the Federal Reserve signaled it would keep interest rates unchanged throughout 2019, thereby backtracking on the two rate hikes it predicted in December.

Updated: 20 Mar, 2019

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 the low fees that TransferWise is renowned for. Users can also receive major-currency payments free of charge.

Updated: 20 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: 19 Mar, 2019

CBOE Ditches Bitcoin Futures Amid Reduced Interest

Amid declining interest, the Chicago Board Options Exchange, or CBOE, has announced it will no longer offer bitcoin futures contracts once current contracts expire in June.

Updated: 19 Mar, 2019

Canadian Dollar to Lose a Further 5 Percent, Will Soon Buy Only US$0.71 (TD Securities)

Prospects for the Canadian dollar have turned “considerably to the downside” and the currency is likely to lose 5 percent of its value this year, TD Securities has said.

Updated: 19 Mar, 2019

  

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

 

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