Are you planning a holiday, sending money overseas, or just looking for the cheapest currency exchange rates? Every dollar counts.
Let’s say you’ve saved up for a dream trip to Bali. You’ve not had your Australian dollars changed to Indonesian rupiah (IDR). After all, there are countless Bureau de Change and Forex kiosks at the airport. Now you’re at the SYD or MEL, excited. But then you realise you’re getting ripped off at the currency exchange counter, compared to what’s offered on Foreign Xchange. The rates are terrible, and the fees even worse.
Want the cheapest currency when exchanging money? First, it’s best to change your money before you travel. Making your currency exchange online gives you access to live exchange rates and low fees, without the hassle. Here’s how you can get the best exchange rates—every time, whether in Australia or while abroad.
5 Ways to Get the Best Foreign Currency Exchange Rates – Home & Abroad
Would you like to stretch your dollar further? Whether you’re exchanging Aussie dollars for US dollars, Vietnamese dong, or the Swiss franc, knowing how to shop for the best exchange rates can save you heaps. Here’s how to do it right.
1. Order Foreign Cash Online
There are a whole host of reasons as to why you should order foreign cash online. Not only will you be able to shop around and find the best rate. You can also track currency exchange rates on a day to day basis. When you think the rate is peaking or better than what it was previously, you can lock your rate in with your chosen provider making you exchange cheaper.
Buying foreign currency online also allows you to save time and avoid the hassle of visiting a physical store. Foreignxchange.com.au offers a safe and secure home delivery service that takes the headache out of having to take the time out of your day to head into the CBD to get your travel money sorted.
You can also pre-order cash online and get it at the airport. Ordering your foreign cash online will usually give you a much better rate than getting your travel money sorted at a local bank before you head overseas. Many online currency providers offer very low or no commission fees. Meaning that you can get more for your money when it comes to exchanging your Aussie dollars.
At Foreign Xchange, we make it simple. Order from home and get better rates.
2. Exchange Currency At Your Local Bank
Local banks can be a good port of call when you’re looking to get your foreign cash. It is worthwhile comparing local banks online rates vs. in-store to see if ordering your travel money online is cheaper. Although many local banks are notorious for charging commission fees when you exchange your Australian Dollars for other currencies. Many offer handy-by-back schemes which allow you to easily convert your money back to AUD if you have any spending money left over when you return home.
Do your research before converting your cash with your local bank. There are a handful of comparison sites that favour their rates over standalone currency shops. This is usually because they receive a higher percentage of commission themselves. Make sure you fully understand the exact amount in the foreign currency you will get before you go ahead with the transaction.
It is also worth checking to see whether you can use your credit or debit card abroad. Some banks and types of cards will give you better rates than others. There are also a number of credit and debit cards that can charge hefty fees, which will soon start to rack up if you use them frequently when you are overseas.
3. Buying Travellers Cheques
Although slightly dated, it is worthwhile doing some research on traveller’s cheques vs. ordering foreign currency online. The biggest benefit of traveller’s cheques is that you can easily order more if you run out. If you lose them or someone decides to steal them off you, you are the only person who can cash them in for your chosen foreign currency. Traveller’s cheques are a tried and trusted method of easily carrying a form of foreign currency around with you anywhere you go.
The biggest downside is that many foreign businesses may not recognise them as a form of payment when it comes to making purchases. It is definitely recommended that you do thorough research to see how well-known traveller’s cheques are in your overseas travel destination. Worst-case scenario, many overseas banks will allow you to cash them in for foreign currency – however, it most cases you would still be better off ordering at least a small amount of foreign cash online as a back-up.
4. Using ATM’s Abroad
Using ATMs overseas can take the worry out of having to carry around serious amounts of cash whenever you head out on day-trips or at night. You can budget from day to day without having to always have one eye on your wallet or where your bag is. ATMs abroad can also save you from getting stung by high commission fees from currency exchange providers making your currency exchange cheaper on the whole.
It is definitely worthwhile checking to see if your debit or credit card will charge you for every withdrawal. You should also do some research on how accessible ATMs are at your chosen travel destination. Rural or remote locations are less likely to have ATMs which could see you left short. Ordering a small amount of foreign cash online as a second source of spending money could save you from the embarrassment if you can’t find an ATM when you really need one.
5. Cash Passport vs. Ordering Foreign Cash Online
Ordering a passport can be a safe and secure way of travelling overseas with a large amount of currency. The biggest benefit is that it is easy to reload if you end up running low. You can load up on 11 different currencies in one time and also have the ability to lock in rates at the time of your purchase. So if the rate goes down, you don’t end up paying at a weaker rate.
A cash passport can be a much cheaper way to carry currency around electronically than your Australian credit or debit card. Cash passports can be used for transactions at any business or location that accepts EFTPOS. However, it’s worthwhile to order foreign cash online simultaneously, as souvenir shops, street stands or small coffee shops might not have these types of payment facilities.
Also Read: An Aussies Ultimate Guide & Checklist Before You Travel Overseas
Order Foreign Cash Online Today
Foreign Xchange is one of Australia’s best currency exchange platforms when it comes to purchasing foreign cash online. With safe, secure and timely home delivery Australia wide, if you order your currency today, you could have it in your hands in as little as five business days. Take the hassle out of exchanging your Australian Dollars before you head off overseas. Start using Foreign Xchange for the cheapest exchange fees and rate.
Frequently Asked Questions
Where is the cheapest place to exchange currency?
Your bank or credit union might offer decent rates, but they often have hidden fees called markup. It’s why more Aussies are turning to online currency exchanges like Foreign Xchange. We offer live exchange rates, lower fees, and the convenience of home delivery.
What is the weakest currency in the world in 2025?
The LBP, the official currency of Lebanon, is the world’s weakest currency, according to Wise. Years of political instability, government debt, a devastating economic collapse, followed by several currency devaluations have caused its value to crash. With declining foreign exchange reserves, the LBP has struggled to recover, making it one of the lowest-valued currencies in the world. For Aussie travellers or foreign investors, this means exchanging Australian dollars to LBP could get you a massive amount of local currency. But currencies of countries with political unrest can face extreme devaluation, resulting in high inflation, unstable exchange rates, and unpredictable fees.
How much is 1 dollar in the weakest currency?
As of 2025, 1 Australian dollar (AUD) is worth around 55,962 Lebanese pounds (LBP). Just two years ago, 1 AUD was worth about 1,000 LBP, but the significant devaluation in 2023 and 2024 sent the once valuable currency crashing. The Iranian rial is also also one of the weakest currencies in the world. Following a devaluation caused by the Iran-Iraq war, 1 AUD now exchanges for 26,319 Iranian rials.
Who has the lowest fees for currency exchange?
Banks usually have the lowest exchange fees, but they don’t always have the best exchange rates. At Foreign Xchange, we keep our rates close to bank rates while offering extra perks: no hidden fees, home delivery, and convenience of exchanging from the comfort of your home.
Who has the best exchange rate in Australia?
The best exchange rates depend on where and when you exchange. Banks, travel agencies, and kiosks all mark up their rates. But that’s not the same for Foreign Xchange. We keep our margins tight, ensuring you get one of the best exchange rates in Australia, without adding broker markups, commissions or inflated fees.
For more inquiries on exchanging your foreign currencies at the best rates, send us a message or email us at info@foreignxchange.com.au.