In Person Currency Swap

stirlo on 10/12/2015 - 13:38
Last edited 10/12/2015 - 15:09 by 1 other user

Hi I was wondering if anyone was aware of any sites that allow you to meet up with other people the swap currency without the 10% margin that currency exchange shops and banks take. There's heaps of backpackers here and I imagine there might be a bit of a market. Thinking something similar to https://www.weswap.com/en/ but that site isn't in Australia yet.

Eg: I want to buy some Chilean Pesos, XE.com says its currently ~500 per AUD but the banks all have to do a special order and their rate is ~400 per AUD (20% less). I feel like there must be quite a few Chilean backpackers/tourists that are having similar issues getting AUD.

What does ozbargain think?

Financial

Comments

  • ynot1985 on 10/12/2015 - 13:43
    +1

    maybe try gumtree

    but I would say safety can be issue

    http://www.theaustralian.com.au/news/nation/murder-charge-in…

    • stirlo on 10/12/2015 - 13:51

      Damn, that's the kind of thing you meet at a police station for. Poor guy.

    • one man clan on 10/12/2015 - 17:00

      Literally my first thought was "sounds like a good way to get murdered"

  • spackbace on 10/12/2015 - 14:12
    +1

    Convert to US$, go there with that, then convert over?

    XE says AU$500 is US$364.51

    Auspost will give you US$347.85

    Much better conversion than Pesos (roughly 4.5% less than XE)

    • stirlo on 10/12/2015 - 14:15

      Yeah that's exactly what I have done so far for the first $1000. Just would prefer to have the right currency rather than US to spread the risk.

  • bonezAU on 10/12/2015 - 17:05

    There's always Citibank Plus… just use ATMs when you get there, surely that's going to be better than having to change cash.

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