Damon Mcknight
If you're planning a trip to Australia, you may be wondering whether to get some Australian dollars before you leave or simply rely on your cards when you arrive. This guide will explain how to order Australian dollars, as well as the pros and cons of each method. You can order Australian dollars online or in-store, and there are several options for each approach.
| Characteristics | Values |
|---|---|
| Currency Nicknames | Buck, Dough, the Aussie |
| Printing Method | First currency to adopt the polymer printing method |
| Currency Exchange in the US | Xchange of America, CXI, Wells Fargo, Wise, Revolut |
| Currency Exchange in the UK | ManorFX, Australia Post, Currency Exchange International |
| Exchange Rate (as of 17 October 2023) | 100 Australian dollars = £52.19 |
| Average Hotel Costs in Australia | Starting from $140 |
| Coffee in Sydney | £3-£5 (6-10 AUD) |
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What You'll Learn
Ordering Australian dollars online
Step 1: Compare Exchange Rates and Choose a Provider
Start by comparing exchange rates offered by different providers. Websites like Exiap, Fexco Currency, ManorFX, No1 Currency, and Interchange Financial offer competitive exchange rates for Australian dollars. Consider the delivery costs, as some providers offer free delivery for larger orders. Additionally, look for providers that offer 0% commission on online orders, allowing you to maximize the amount of Australian dollars you receive.
Step 2: Place Your Order
Once you've selected a provider, it's time to place your order. Decide on the amount of Australian dollars you need and proceed to the secure online ordering platform of your chosen provider. You will need to provide your personal and payment information to complete the order. Some providers may offer multiple payment options, including credit or debit cards.
Step 3: Choose Delivery or Collection
Most providers offer the option of having your Australian dollars delivered to your home or office. This option offers convenience and saves you a trip to a physical store. However, keep in mind that someone will need to be available to sign for the delivery. Alternatively, you can choose to collect your order from a local branch or bureau, which may be located near major travel hubs like Heathrow Airport.
Step 4: Plan Your Trip
After receiving your Australian dollars, it's essential to plan how you'll use them during your trip. Australian dollars are the currency of the Commonwealth of Australia, including mainland Australia, Tasmania, Christmas Island, Cocos Islands, Norfolk Island, and some Pacific Island states. Remember that prices for accommodation, food, and activities can be relatively high in Australia, so budgeting is crucial. Consider using a mix of cash and cards to manage your expenses effectively.
Step 5: Buy-Back Services
If you have leftover Australian dollars after your trip, consider using buy-back services offered by some providers. These services allow you to convert your unused currency back into your local currency, such as USD or EUR. However, be aware that the exchange rate for buy-back services may differ from the original exchange rate.
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Ordering Australian dollars in-person
If you are in the US and want to buy Australian dollars in person, you can do so at an exchange office. Simply pick the exchange office that's most convenient for you and head there with some cash in US dollars. Some exchange offices also accept card payments. However, it's important to note that currency exchange offices set their own exchange rates and fees, so shopping around is essential. You may also lose out when you sell back unused travel money.
Another option is to check with your bank. Some banks allow account holders to purchase Australian dollars in person, but you may need to order online in advance and wait for your order to be prepared before you can collect it. It's a good idea to call ahead to ask if they have Australian dollars in stock to avoid a wasted trip.
If you're in a hurry, many major airports have currency exchange desks that stock major currencies for instant conversion. However, keep in mind that due to a lack of local competition, prices at the airport can be high, with exchange rate markups adding significantly to the overall cost.
In Australia, you can order foreign cash in-store at Australia Post and have it ready for collection by 4 pm the next business day in metro areas. Regional areas can take up to two business days. You'll need to bring the same form of identification that you used to place your order, and only you can collect your order.
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Using a travel money card
There are several providers that offer travel money cards, including Wise, CommBank, and Revolut. Wise, for example, offers a Multi-Currency Card for a one-time fee of $9 USD. You can order the card online and have it delivered to your home, or get a virtual card immediately on your phone. The card can be used with mid-market rates and low, transparent fees in 150+ countries. Similarly, Revolut offers a travel money card that can be ordered in the United States, allowing you to add money in USD and use your balance to purchase Australian Dollars within your multi-currency account.
CommBank also offers a Visa Prepaid Travel Card that can be ordered online or in-branch, with $0 international transaction fees. This card allows you to load up to 15 foreign currencies, including AUD, so you can shop with confidence everywhere Visa is accepted – in-store, online, or over the phone, and use ATMs. CommBank also provides Purchase Security Insurance Cover and access to Visa travel offers.
When deciding whether to use a travel money card, it is important to consider the benefits and drawbacks. One advantage of using a travel money card is that it can be blocked if lost or stolen, and you can get a replacement card quickly. Additionally, travel money cards offer competitive exchange rates and low fees, and you can manage your balance on your phone. However, it's important to be mindful of any additional charges that may occur from independent ATM networks.
Overall, using a travel money card is a safe and flexible option for ordering Australian dollars, allowing you to access your funds conveniently and securely during your travels.
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Using a credit card
Credit cards are widely accepted in Australia, and you can use them for most purchases. Visa, Mastercard, and American Express are commonly used and accepted by most merchants and ATMs. However, it is good to carry some cash, especially when visiting smaller towns or rural communities, as some restaurants or shops may not accept card payments or may charge extra for their use.
When using a credit card for purchases in Australia, be mindful of foreign transaction fees. These fees can add up, and some cards may offer more favourable exchange rates than others. Some credit cards may even offer complimentary benefits like Purchase Protection Insurance or Extended Warranty Insurance for certain purchases.
If you want to avoid foreign transaction fees, consider using a prepaid travel card loaded with Australian dollars. These cards are not linked to your bank account, providing extra security against theft. However, travel cards can come with their own set of fees, so it is essential to research your options.
Another option is to use a multi-currency travel card, such as Revolut, which allows you to hold and spend in multiple currencies, including Australian dollars. With Revolut, you can order a physical debit card or add it to your digital wallet and start spending like a local. ATM withdrawals with Revolut are subject to fair-usage fees, and you can save money by avoiding currency conversion at the ATM and declining any additional fees.
When using your credit card in Australia, be sure to notify your bank beforehand to avoid any unexpected blocks or security holds on your account due to international transactions.
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Using a bank draft or money wire
Bank drafts and money wires are two of the most secure ways to send or receive money. Bank drafts are better for larger transactions, while money wires are perfect for smaller payments (usually under $1,000).
Using a Bank Draft to Order Australian Dollars
When using a bank draft to order Australian dollars, you will need to go through a bank. You can get a bank draft in foreign currencies, making them suitable for international payments. The issuing bank guarantees certified cheques.
Using a Money Wire to Order Australian Dollars
Money wires are a reliable, convenient, and speedy method of transferring funds between banks within Australia. This method does not involve an intermediary bank, and the commission is lower than for an international wire transfer. Payouts are processed within three business days on the Smartcat side and within one to two business days on the bank side.
To use a money wire to order Australian dollars, you will need to provide the following details:
- The BSB and bank account number the money will be sent to
- The full legal name on the bank account
- The street address (home or business) linked to the account
- The branch address of the bank where you opened the account
- The BIC or SWIFT code
Please note that when moving money into or out of Australia, you must declare cash and non-cash forms of money in Australian and foreign currency if the combined value is AUD10,000 or more.
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Frequently asked questions
You can order Australian dollars online or in person at an exchange office.
Ordering online is convenient and can be reasonably priced if you order a few weeks in advance. You can also compare rates from different providers.
Ordering in person at an exchange office is usually instant, so you don't have to wait for delivery.
Ordering Australian dollars in cash gives you the advantage of not having to rely on ATMs or shops that accept card payments. However, a travel money card is a safer option because it can be blocked if lost or stolen, and you can get a replacement card quickly.
