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Great Rate Foreign Exchange Rates in Sydney CBD (around Great Southern Hotel, George St)

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Great Rate Foreign Exchange Rates in Sydney CBD (around Great Southern Hotel, George St)
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quackster on 19/11/2010 - 15:28 files.ozbargain.com.au (2500 clicks)
Last edited 19/11/2010 - 15:41 by 1 other user

While not a bargain per se, with the recent USD exchange rates it makes a lot of sense to let everyone know where to get the best rate.

I have found a lot of small foreign exchange outlets located on George Street around the Great Southern Hotel which give amazingly high exchange rates with no fees at all. For example, I just exchanged at a rate of AU$1 = US$0.9741 as compared to the current rate on XE of US$0.98465.

Current rates with the larger competitors:
Travelex = US$0.9580 (no fees)
The big four banks = US$0.9502 to 0.9586 (excluding additional fees)

Source: http://bestexchangerates.net/AUD/USD&buysell=buy&type=notes

A good strategy is to have a look between the places, check out the best rate and (if you're exchanging a reasonably large amount) try to negotiate a better one!

If anyone knows of any other good value currency exchange places around Australia or around Sydney, let me know and i'll add them!

You can see the current rates below:

http://upload.ozbargain.com/2010/11/18/4811_imag0009.jpg

And a photo of one of the stores:

http://upload.ozbargain.com/2010/11/18/4812_imag0006.jpg

Good luck and happy FOREXing!

p.s. Mods, I have put the link to Google as I can't link to the uploaded photos due to getting this error:

Posting deals from ozbargain.com has been temporarily banned on OzBargain. Reason: Exceesive negative votes over the last 5 days.

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  • Dbuiz on 19/11/2010 - 15:33
    +5

    I've had good experiences with KVB Kunlun (google them) down at the TGV office buildings near Town Hall steps

    • Chivalry on 19/11/2010 - 15:40
      +1

      Ive been to the KVB in the citibank building on Park St. They do have a pretty good rate, but a very long wait. There is actually another place right next to them (you'll see this place first when you exit the elevator), they have a very slight higher rate, but literally no waiting. =)

      • morphio on 19/11/2010 - 15:48

        I always get better rates at the one next to KVB Kunlun on level 18!

        Bank of China is also good.

      • titus on 19/11/2010 - 20:20

        I've been there too but they don't have a board showing their rates and blow me if I'm going to wait inline just to know what the rate is.

        • Chivalry on 20/11/2010 - 16:58

          Found the pamphlet:

          GFL - Global Forex (Sydney) Pty Ltd
          Level 18, Citigroup Centre,
          2 Park St, Sydney NSW 2000
          Phone:
          02 9267 2238
          02 9283 8263

  • neil on 19/11/2010 - 15:42

    OK, I've added the picture as the link. The temporary ban on Ozbargain is a bug.

  • parker1 on 19/11/2010 - 15:45
    +3

    http://citibank.com.au/global_docs/onlinetools/ci1.htm

    theres a place in citibank building, level 22. i always exchange there. their rates are awesome, and no fee's. I recently exchanged, 160000 Yen for 2000 AUD.. which works out to be 1AU = 80Y. When the big four and all, was at 1AU = 75-78Y

    • morphio on 19/11/2010 - 15:49

      Never knew there is one on level 22 as well. I should check it out next time!

    • hospital2005 on 19/11/2010 - 15:54

      is it for cash? will it work in the branch in brisbane in exchange for cash?

    • tex on 19/11/2010 - 16:02

      Yeah good to have another option but the OP's picture shows Yen at 82.1. Of course the rate may have fluctuated that much since you purchased.

    • bbqwer on 19/11/2010 - 16:19

      the rate is showing draft / TT .

      cash rate always lower than TT / draft !!!

    • nickt43 on 19/11/2010 - 16:29

      where abouts is the citi bank building? is that the one in sydney? on park street or pitt street?

      • morphio on 19/11/2010 - 16:32

        It's on Park Street. Opposite Townhall Woolies

        • nickt43 on 19/11/2010 - 16:35

          awesome, i work right near town hall.

          better check it out

        • morphio on 19/11/2010 - 16:44

          Citibank Building
          Level 18, 2 Park St
          Sydney 2000

    • lil_ms_sneeky on 19/11/2010 - 17:22
      +1

      Do you know what's the name of the place on level 22? Or have a phone number please? Don't want to trek up to the city and find out they've run out of money for the day.

    • kimmik on 19/11/2010 - 17:49

      do they change cash too?

    • elegantegotist on 19/11/2010 - 18:30

      Is this a cash exchange d?

  • neil on 19/11/2010 - 15:45

    Can you buy travelers cheques at the same rate?

  • BenK-Oz on 19/11/2010 - 15:59

    how bout melbourne?

  • GreenLego on 19/11/2010 - 16:17
    +1

    I've always found that the local casinos give you the best rates, and they don't charge fees and are open 24/7. They only to one way exchange, back to AUD from whatever though.

  • Pigey on 19/11/2010 - 16:21
    +4

    Australia must have the worst rates when it comes to exchanging money
    I feel sorry for travellers who don't change money before they come here.
    Sometimes I hang around the front and wait for someone who might have what I want and I just change money with them!

    • JDogman on 19/11/2010 - 16:42

      see in any other country that would be dodgy and I'd be weary but Australian money is soo hard to counterfeit that I might just do what youve suggested :D

      But only whilst wearing dark sunnie and a cap. (possibly a trenchcoat in the middle of summer as well whilst trying to sell stolen watches to unsuspecting americans!)

    • morphio on 19/11/2010 - 16:53

      That depends where. I remember you get more exchanging here than in Japan.
      Best way to get money if you're there is to use your keycard at the ATM's.
      Only real money to exchange money there are at the banks which give you bad rates.
      Is it any different now?

      • Pigey on 19/11/2010 - 17:02
        +2

        Oh yes, Japan banks are terrible too.

        Yeah Wizard all the way. (or 28 degrees now)

  • astrotrain on 19/11/2010 - 16:58

    my sister recently used the post office no fees and they give you the rate as it is at the time of exchange.

    • morphio on 19/11/2010 - 17:07

      Is this meant to be all post office? I tried my local one once and they denied having this service.

    • billbro on 19/11/2010 - 19:23
      +1

      I doubt the spot rate given will be that great, if there are no fees they are probably going to be making money off a bigger spread.

  • jzell67 on 19/11/2010 - 17:18

    Best rate ive got is from a branch on George St called "The Money Change". Across from the World Centre.
    No fees or commission.

  • eruption on 19/11/2010 - 17:22

    Any places in Melbourne?

    • Spets on 19/11/2010 - 20:09

      I too would like to know

    • tinx on 20/11/2010 - 10:17

      kvb in the city (collins st)
      no queues at all (last time i went there)

  • elegantegotist on 19/11/2010 - 18:29

    When can you start negotiating ? $500 ? $1000 AUD ? Not sure when ? Thanks !

    • quackster on 20/11/2010 - 01:00

      I would try to bargain at those kinds of amounts. Probably wouldn't bother for under $500 (especially given that the better rate would probably save you under $3 due to the low amount) but you could always give it a shot!

  • Kantankerous on 19/11/2010 - 20:35

    Anyone know what the name of the place next to KVB is? And if there's a phone number? Went to get it exchanged last time but forgot to grab a business card or even jot down a phone number!

    • Chivalry on 20/11/2010 - 16:57

      GFL - Global Forex (Sydney) Pty Ltd
      Level 18, Citigroup Centre,
      2 Park St, Sydney NSW 2000
      Phone:
      02 9267 2238
      02 9283 8263

  • gotz on 19/11/2010 - 23:30

    In Perth the best place I have come across is Nationwide Foreign Exchange. Small counter at 215a Murray Street Mall, also one on Hay Street I believe. Rate is about the same as the major banks but no commission and they are generally quicker and easier to deal with.

  • nubzy on 20/11/2010 - 00:27

    I have $15 of NZ money that I want converted back to AUD. How much will I get back?? Was going to do it a while ago and got offered $4 or something rediculous.

    • quackster on 20/11/2010 - 00:58

      Assuming the rate was the same as listed above, your NZ$15 would convert to AU$11.37 at this place.

  • wiz187 on 20/11/2010 - 04:54
    -2

    Au post, no fees and as good as I could find.

    • maplesyrup on 20/11/2010 - 07:02
      +1

      When I checked, Australia Post's exchange rates were lower than Travelex or Westpac.

      • wiz187 on 20/11/2010 - 09:54
        -2

        bout 3cents less than exchange rates listed on xe.com - AND NO FEE. I will use again..

        • kimmik on 20/11/2010 - 10:00

          no fee for travelex or westpac or this posted location either

  • montemaj on 20/11/2010 - 10:53
    +2

    I use my Wizard Clear Advantage credit card when overseas. No transaction or currency conversion fees. Rate is also better than visa. I also find when I use it in my paypal account the rate is better than my other credit cards that is also registered on paypal.

  • muzzamo on 20/11/2010 - 15:27

    anyone got any tips for adelaide? I'll be looking to exchange some THB, would normally use the wizard MC while over there but the dam thai banks have a $5AUD fee on all cash withdrawls made by overseas credit cards..

  • JDogman on 20/11/2010 - 17:12

    i recently bought airfares in USD with Wizard MC and I got a rate above partiy!!! You can't beat that!! I got something akin to 1.009?? Don't know exactly because I haven't got the statement yet and they only show conversion rates of the statement. It was great paying $134.58 USD whilst only being charged $133.40 AUD!!!

  • blah84 on 21/11/2010 - 12:32
    +1

    went there yesterday and got a rate of $0.9711 but we asked them if they can price match the shop that was 2 doors down (in the newsagency) so they gave us a rate of $0.9720

  • coolsteps on 22/11/2010 - 12:13

    does anyone know of a good place in brisbane?

  • Bargain__Hunter on 23/11/2010 - 22:02

    I need some advice.
    I have $20,000 that I would like to exchange to US dollars to lock in the exchange rates before I travel in June next year. I'm going to wait until I can at least get parity with the US dollar. I also want to earn interest on my US $'s and I was wondering if anyone knows of any banks that will offer me a good savings interest rate on my savings and hold American currency in an Australian Bank Account.
    Maybe I would have good room to negotiate a good exchange rate if I exchange 20K at once.

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