Finding a competitive exchange rate in the Brisbane CBD
Need to exchange foreign currency? Let’s look at where you can find competitive deals in the Brisbane CBD.
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If you’ve ever needed to travel overseas and convert your Australian Dollars into another currency, you’ll know that finding the best exchange rate is crucial to guarantee value for money. But where can you find the best exchange rate if you need to exchange currency in the Brisbane CBD?
We compared the exchange rates for USD$1,000 and €1,000 on offer from travel money providers in the Brisbane CBD with online bank exchange rates. Check out the results of our comparison below.
Your Brisbane CBD money transfer options below
Looking for a physical location to exchange money?
Based on user reviews and blogs, here are some locations that may give you more bang for your buck:
- Travel Money Oz, 79 Adelaide Street
- Travelex, Queen Street Mall
Top tips to help you find the best exchange rate
If you need travel money for your next overseas trip, these handy tips will help you find the best possible exchange rate:
Compare your options
Exchange rates vary substantially from one foreign exchange provider to the next, so it’s never a good idea to settle for the first currency bureau you find. Even a small difference in the exchange rate can help you save hundreds of dollars, so compare a range of options before you exchange any money.
Have you ever arrived at a foreign exchange bureau ready to convert currency, only to find that the store doesn’t have enough notes in your desired currency? While US dollars, euros and other major options are typically well stocked, any less-common currencies are often in short supply. Phone ahead to make sure the foreign exchange provider has enough notes to complete your transaction.
Ask for a better deal
The initial price quoted to you by a currency exchange specialist may not be the best exchange rate they can offer, so don’t be afraid to ask for a better deal. A little bit of negotiation can ensure more money stays in your pocket.
Beat the banks
As our comparison above shows, exchange rates offered by the major banks typically are not very competitive when compared to rates offered by foreign exchange services. This is because foreign exchange services specialise in foreign currency and charge smaller margins than the banks, so they are able to offer superior exchange rates.
If a particular foreign exchange company offers the best available rate for the US dollar, it doesn’t necessarily mean it will also offer the best rate for the euro. With this in mind, make sure to compare your options based on the currency you need to exchange.
Look further afield
You don’t have to be in the CBD to find a competitive foreign exchange deal; there are plenty of exchange locations in the outer suburbs of Brisbane as well, particularly those with high migrant populations.
Look elsewhere for international money transfers
If you need to send money overseas, bricks-and-mortar foreign exchange services do not usually offer the best deal. You should be able to find much better exchange rates and lower transaction fees using a specialist online transfer company.
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