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For those who have recently visited Sydney from the US did you exchange your $ before or after getting to Australia? Just wondered if it would be a better rate to exchange it here at our airport or wait till arriving in Sydney. Going in a month! Thanks!

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I purchased Australian currency from my local Bank before leaving the US. And because I purchased from my bank there was no fee and the exchange rate was calculated based on the rate on that day.

If you are thinking of purchasing before you leave the US from your Bank then make sure you give yourself 5 to 7 business days.

 

Sent from my SM-G950U using Forums mobile app

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Exchange rates are always better in the country you are arriving in. But don't bother with cash. Just pay by cards or get out of an ATM when needed. We are practically a cashless society these days. I haven't carried cash in 5 or 6 years.

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Use an ATM. Just make sure it is a bank ATM ... not one belonging to an exchange service like Travelex.

 

The ATM transaction should look just your transaction at home. If it doesn't, such as telling you how much it will "cost" you in US$, cancel and find another ATM

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I purchased Australian currency from my local Bank before leaving the US. And because I purchased from my bank there was no fee and the exchange rate was calculated based on the rate on that day.

If you are thinking of purchasing before you leave the US from your Bank then make sure you give yourself 5 to 7 business days.

 

Sent from my SM-G950U using Forums mobile app

 

Which bank? The exchange rate at a bank is likely their best exchange rate that day but probably not the best exchange rate available if you use an ATM or credit card. Local banks generally make a few % on exchanges even if they don't charge you a fee.

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As others have said, the most cost-effective way to get Australian dollars is through an ATM in Australia. And you don't have to worry about not having cash before you land--there are several ATMs in the airport.

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ATM.

 

I don't think I've used a bank or foreign exchange outfit for Australian dollars for something like 20 years now.

 

Same - I think the last time I actually walked into a bank was to sign mortgage papers in 1992. All mortgages since then were done online, along with loans etc. Have never used a bank to exchange FOREX. There are ATMs all over the world and the one time I did find I needed some cash in a teeny town in South America that had a single broken ATM - the hotel reception desk gave me what I needed and just added it to my bill.

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  • 1 month later...

We were in Sydney this past February.

 

We used the ATM machines several times. They worked out very well. We will try to use ATM Machines as well as Charge Purchases using Credit Cards that do not have foreign transaction fees.

 

Keith

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