You've got your flights booked you know where you're staying and you've made
sure your passport is ready to go. So you're set to travel, right?
What about currency? While there are many ways to manage money while you're
overseas, some are much more expensive than others. So in this video we're going
to show you how to easily exchange currency with Travelex. From the
products they offer and ways you can exchange, at the end we'll share our
top six tips for getting the most out of currency with Travelex.
Travelex is one of the most well known names in currency exchange. They're responsible
for the kiosks you see at major airports and have more than 120 locations
australia-wide. You can either order currency online through their website or
walk into one of their stores and they have the option of buying cash or a
prepaid travel card.
Let's have a look at the best way for you to get your hands
on currency from Travelex.
If you're travelling in the next few days and need
currency in a hurry going into a Travelex store is the way to go. You can
simply walk in and exchange most popular currencies on the spot. Depending on what
you need, you can either purchase cash or put it onto a prepaid currency card.
There are some things you need to be aware of if you're heading into store.
Firstly, while Travelex don't charge a commission fee there is a fee if you
want to pay with EFTPOS. So if you want to avoid fees altogether it's best
to withdraw cash before you go in. The other thing you may need to have with
you is your ID. You may not need it for all transactions, but it's best to have
it with you just in case.
Now you might think the rates are the same across all
the Travelex stores but this isn't the case. As a standard rule the rates in the
CBD are more competitive because there are more currency exchange shops in the
vicinity. As well as this, the Travelex stores at
the airport are far worse than anywhere else so it's best to avoid buying
currency there.
If you're travelling in a week or more ordering online with Travelex
is an easy and convenient way to exchange money. You can order up to five
thousand dollars and they have more than 80 currencies available. On their home
page you can enter the currency you need and the amount and it will give you an
estimation of the cost. The next page lets you add currencies and gives you
options to buy cash, a Travelex Money Card or both. If you pay with BPay you
won't be charged any fees but if you want to pay with card there's a fee of
about 1% depending on the card you're using. You can choose to pick up
the order from any Travelex store including the ones in the airport or at
an Australia Post outlet. They also have home delivery in some parts of Australia.
Generally with Travelex, your order will be ready within five business days but
this depends on how you're paying and where you're picking it up from.
If you decide to order currency this way Travelex offer better rates for some currencies
when you're buying more than $2,000AUD. This means if you order
US Dollars, Euros, Pounds or Yen the rate gets better when you order more. Worth
keeping in mind if your order is less than $2,000AUD.
If you don't want to carry cash while you travel the Travelex Money Card allows you to
preload up to ten popular currencies which we have listed here. You can
purchase the card online or in store and top-up in the same way. Now while the
card is technically free, there are some things you need to know about. The
initial load fee is $15 or 1.1% of the amount of you're loading
and there are also conversion fees you need to know about.
You really want to avoid converting between currencies this is where the
card becomes costly with a conversion fee of almost 6% it can really hurt if
you're doing it frequently. Make sure you're loading it with enough of the
currencies you need so you can avoid this. For a more detailed outline of the
Travelex Money Card's fees charges and rates, you can read our review which
we'll link below. When deciding the best option for you keep these six tips in
mind; think about when you're traveling if it's in the next few days going into
store is your best option. This way you can buy currency on the
spot. If you are going into store the rates in your CBD are better than stores
further out and the rate makes more of a difference the larger the amount you're
exchanging. If you're traveling in a week or more ordering the currency online is
a great option. Avoid card fees when you do this by
paying with BPay. If you're exchanging currency online it's worth buying $2,000AUD.
Travelex offer better rates for US Dollars, Euros, Pounds and Japanese Yen when you do this.
Travelex sometimes have promotions for
when you're buying currency in store. We'll keep the description below up to date
with any that are running so make sure you have a look there before you go into
store. Finally, the Travelex Money Card can be a good option if you don't want
to carry cash but make yourself aware of all the fees involved and avoid
converting between currencies where possible.
At the end of the day
exchanging currency with Travelex is an easy and convenient way to do it. With
lots of options it helps you get your hands on currencies safely and easily
before your trip. Just be aware of the fees on the Travelex Money Card and when
you need the currency by. Now go and enjoy your holiday!