You’ve got your flights booked you know
where you’re staying and you’ve made sure your passport is ready to go. So
you’re set to travel, right? What about currency? While there are many ways to manage money while you’re overseas, some are much more expensive
than others. So in this video we’re going to show you how to easily exchange
currency with Travelex. From the products they offer and ways you can
exchange, at the end we’ll share our top six tips for getting the most out of
currency with Travelex. Travelex is one of the most well known names in
currency exchange. They’re responsible for the kiosks you see at major airports
and have more than 120 locations australia-wide. You can either order
currency online through their website or walk into one of their stores and they
have the option of buying cash or a prepaid travel card. Let’s have a look at
the best way for you to get your hands on currency from Travelex. If you’re travelling in the next few days and need currency in a hurry going into a
Travelex store is the way to go. You can simply walk in and exchange most popular
currencies on the spot. Depending on what you need, you can either purchase cash or
put it onto a prepaid currency card. There are some things you need to be
aware of if you’re heading into store. Firstly, while Travelex don’t charge a
commission fee there is a fee if you want to pay with EFTPOS. So if you
want to avoid fees altogether it’s best to withdraw cash before you go in. The
other thing you may need to have with you is your ID. You may not need it for
all transactions, but it’s best to have it with you just in case. Now you might
think the rates are the same across all the Travelex stores but this isn’t the
case. As a standard rule the rates in the CBD are more competitive because there
are more currency exchange shops in the vicinity.
As well as this, the Travelex stores at the airport are far worse than anywhere
else so it’s best to avoid buying currency there. If you’re travelling in a
week or more ordering online with Travelex is an easy and convenient way to
exchange money. You can order up to five thousand dollars and they have more than
80 currencies available. On their home page you can enter the currency you need
and the amount and it will give you an estimation of the cost. The next page
lets you add currencies and gives you options to buy cash, a Travelex Money
Card or both. If you pay with BPay you won’t be charged any fees but if you
want to pay with card there’s a fee of about 1% depending on the card
you’re using. You can choose to pick up the order from any Travelex store
including the ones in the airport or at an Australia Post outlet. They also have
home delivery in some parts of Australia. Generally with Travelex, your order will
be ready within five business days but this depends on how you’re paying and
where you’re picking it up from. If you decide to order currency this way Travelex offer better rates for some currencies when you’re buying more than $2,000AUD.
This means if you order US Dollars, Euros, Pounds or Yen the rate
gets better when you order more. Worth keeping in mind if your order is less
than $2,000AUD. If you don’t want to carry cash while you travel the
Travelex Money Card allows you to preload up to ten popular currencies
which we have listed here. You can purchase the card online or in store and
top-up in the same way. Now while the card is technically free, there are some
things you need to know about. The initial load fee is $15 or 1.1% of the amount of you’re loading and there are also conversion fees you
need to know about. You really want to avoid converting
between currencies this is where the card becomes costly with a conversion
fee of almost 6% it can really hurt if you’re doing it frequently. Make sure
you’re loading it with enough of the currencies you need so you can avoid
this. For a more detailed outline of the Travelex Money Card’s fees charges and
rates, you can read our review which we’ll link below. When deciding the best
option for you keep these six tips in mind; think about when you’re traveling
if it’s in the next few days going into store is your best option.
This way you can buy currency on the spot. If you are going into store the
rates in your CBD are better than stores further out and the rate makes more of a
difference the larger the amount you’re exchanging. If you’re traveling in a week
or more ordering the currency online is a great option.
Avoid card fees when you do this by paying with BPay. If you’re exchanging
currency online it’s worth buying $2,000AUD. Travelex offer better rates for US Dollars, Euros, Pounds and Japanese Yen when you do this. Travelex sometimes have promotions for when you’re buying currency in store. We’ll keep the description below up to date with any that are running so make sure you
have a look there before you go into store. Finally, the Travelex Money Card
can be a good option if you don’t want to carry cash but make yourself aware of
all the fees involved and avoid converting between currencies where
possible. At the end of the day exchanging currency with Travelex is an
easy and convenient way to do it. With lots of options it helps you get your
hands on currencies safely and easily before your trip. Just be aware of the
fees on the Travelex Money Card and when you need the currency by. Now go and
enjoy your holiday!