These are our live retail rates which are updated between 9 and 9.30 am daily, Monday to Friday. Our Friday rates are used on weekends and public holidays.
To find out the rates that we sell currency and Cash Passports to you, use the tab labelled "I want to purchase foreign currency".
To find out how much you will get in Australian dollars for your foreign currency, use the tab labelled "I have currency to exchange".
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This table shows how much it would cost to purchase $500 worth of currency from our stores in Brookvale and Wollongong and how much extra you would be charged in the major banks or at an American Express office for the same amount. The bank totals were calculated using their current online rates and including their relevant commission fees. As you will see, on this amount it is cheaper for you to purchase your currency from us than from any of our competitors based on their listed prices.
This table was last updated on May 26 2010. Bank Prices are taken from their relevant websites and include their relevant commission fees. We have not included any delivery fees that may be charged on top of this in certain bank branches. Our price is the current daily rate as advertsised on our website www.thecurrencyexchange.com.au and is updated daily. The above table shows a comparison between our prices and those at the banks listed. These institutions list their rates online which is where these prices are sourced. The IMB, Suncorp and the credit unions do not have their rates online so it is harder to do price comparisons. It is also worth noting that we have come across instances where bank’s online rates are not the same as in their branches, so the price differential may even be higher. The ANZ also have an outlet at the airport and their prices there are usually around 5-7% more expensive there – but again these rates are not listed online. We used $500 as this is approximately the average amount that our customers exchange in cash. The currencies shown are our top selling currencies in 2010 to date. When comparing rates online it is important to include the relevant commission fees (as we have done here). Some of the banks make it difficult to find their commission charges online but as a general rule they charge 1% with a minimum of $8. The exceptions are the NAB who charge a minimum of $10 and American Express outlets inside Westpac who charge a flat $8. It is our understanding that American Express charge 1% when their stores are outside of Westpac. Commission charges are subject to fluctuations and these are correct at the time of producing this table. Margins do fluctuate and we will keep this table up to date over time. These prices are a snapshot of 26 May 2010, but they do reflect recent margins. These prices are reproduced in good faith but are subject to fluctuations as with all currency rates. Recently we have also been getting more customers letting us know that they are being told incorrect rates by banks and credit unions when asking about buying currency. From what we can tell they are being quoted the banks buy rate instead of their sell rate. When customers go to purchase the currency at this rate they are told about the mistake. This is almost certainly by accident as their staff are not given much training in what is just an add on product for them, not the core product that it is for our business. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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The Travelex Currency Exchanges in Brookvale and Wollongong are operated as Franchises by Ian Spight Pty Ltd trading as "The Currency Exchange". The information on this website pertains to our two stores only and does not relate to the stores operated and owned by Travelex Pty Ltd. This includes pricing, products offered and general information. |
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