Are you also heading overseas soon? Here’s a tip: your travel plan is incomplete without sorting your currency exchange in Australia.
Many Australians lose hundreds to bad exchange rates and hidden fees every day without even realising it. You can avoid that and save more by comparing rates early and using a foreign exchange platform that cuts out bank and airport markups.
With over 10 years in the Australian currency industry, experts know where and how travellers waste money. Banks and airport kiosks often run away with big cuts on every traveller. This guide shows you exactly how to find the best currency exchange rates in Australia so more of your cash stays in your pocket for the trip itself.
Getting Currency Exchange at the Right Time Matters
Small rate changes make a big dent in your wallet.
Let’s say you’re exchanging $10,000 AUD for Euros. At today’s mid-market rate, you’d get about €6,000. When you use a bank offering 1% worse rates, you lose €60 on the spot.
Add a $15 bank fee and you’re down nearly $120 AUD before you’ve even left the Sydney Airport.
That’s money better spent on dinner in Paris or a reef tour in Cairns.
Here’s what most travellers pay for:
- Commission fees: banks charge $10–$20 per transaction, sometimes more.
- ATM withdrawal charges: up to $5 per overseas withdrawal, plus foreign ATM fees.
- Airport kiosks: rates can be 5–10% worse than market value.
That’s money you could be spending on food tours in Rome or diving lessons in Bali.
Where to Get the Best Currency Exchange Rates in Australia
Here are the options you’ve got:
Online Currency Exchange Platforms
Here’s the thing: online platforms like Foreign Xchange typically offer the best rates. They skip the shopfront overheads so that they can offer better rates. Many updates occur every 10–15 minutes, based on real-time market data.
Most online providers now offer:
- Home delivery via insured couriers.
- 24–48 hour rate lock-ins so you can grab a good price.
- No commission fees for most major currencies.
For example, the AUD hit US$0.69 in July 2025 after RBA interest rate comments. Travellers who locked in online saved 3–5% compared to those using airport kiosks that week.
Banks vs. Currency Exchange Stores
Banks feel familiar but often give 1–3% weaker rates than online providers. They also charge flat transaction fees, which sting on small amounts.
Currency stores in big shopping centres sometimes beat banks on the day’s rate. But read the fine print; commission fees or “service charges” often apply.
Airport Currency Kiosks
Airport kiosks are convenient but brutal on your wallet. Kiosks at Sydney Airport charge more than mid-market rates. Only use them in an emergency. Here are more tips to get the best Currency Exchange at Sydney Airport.
Tips to Maximise Your Money and Reduce Fees
- Buy when the AUD is strong. Check the RBA site or live rate trackers. A jump from US$0.66 to US$0.70 on $5,000 AUD means an extra $200 USD in your pocket. A rate tracker can help you with this.
- Compare rates online before buying. Most platforms have free calculators showing exactly what you’ll get after fees.
Order early. Two to four weeks before flying gives time to watch rates and lock in a good one. - Exchange bigger amounts at once. Remember, each transaction fee adds up.
- Use multi-currency cards for tap-and-go payments overseas without foreign transaction fees.
- Skip the airports. Rates there are consistently the worst in Australia.
Frequently Asked Questions
Where can I get the best currency exchange rates in Australia?
Online currency platforms like Foreign Xchange usually beat banks by 3–5%. Airport kiosks are the most expensive by far. Always check live rates before paying.
Is it better to exchange money in Australia or overseas?
It’s often better to exchange in Australia before travelling. Buying before you travel locks in rates and avoids unpredictable overseas fees.
How far in advance should I buy foreign currency?
Start checking rates 2–4 weeks before departure. Lock in if the AUD jumps after strong economic news or RBA announcements.
The Best Travel Experiences Start With Smarter Currency Exchange
The right moves can save you hundreds on currency exchange in Australia. Compare rates, avoid fee traps, and plan early. That means more cash for experiences instead of banks. If you want today’s best rates, check live prices and lock in here: Buy currency.