ForEx History Website (Banks vs Visa/MC vs Travel Card vs Cash)

Priapist on 25/07/2023 - 16:05

Hi again!

Does anyone know of a website that can provide a historical comparison for different foreign exchange scenarios? I'm finding that most "comparison" sites are just Forex vendors cherry picking whatever makes them look favourable. And they all seem pretty liberal in comparing cash rates against IMT rates and disregarding fees.

But what I'm actually after is a site where I could see the respective daily rates for banks (ANZ, Westpac, NAB, Commbank, etc.), payment processers (Visa, MC, Paypal, etc), travel cards (Revolut, Wise, Travelex, etc.) and physical cash purchase and see up to 12 months history.

Does such a thing exist? Obviously for a cash exchange I can take what's best on the day, but for everything else, it would be great to see who trends better overall before committing to anything.

Travel

Comments

  • GG57 on 25/07/2023 - 16:12
    +1

    All of those institutions base their retail rates against the market, so all you will really see will be the margin the institution takes for different transaction types (buy/sell, transfer/cash, etc).
    Unless you are into market-based transaction values, where the margins may vary a little (depending on the value).

    • Priapist on 25/07/2023 - 20:36

      Yeah, that's more or less what I'm trying to understand. Like if I look at today's rates for AUD to USD

      Wise: .0.6768
      Revolut: .6765
      HSBC: .6622
      Citibank: .6620
      Westpac: .6506
      Suncorp: .6455
      Commbank: .6485
      Bankwest: .6454
      Bendigo: .6449

      Visa: .6758 (Hay, ING)
      Mastercard: .6758 (Macquarie)

      There's a 5% difference from the top rate to the bottom, and I want to know if Bankwest and Bendigo are always so stingy with their margins, or if it varies from day-to-day. Ultimately it may end up being a moot point if I choose someone who just links it to the mid-market rate with no margin.

      • askbargain on 25/07/2023 - 20:55
        +2

        Wise: there is a fee on top of the rate
        Bendigo: you're looking at their currency exchange but if you're using your debit/credit, it would go through visa/mc
        Bankwest: they convert to USD first then to AUD, so you might be paying for spread twice
        Main banks: 3% fee slapped on

        my recommendation is Up if you want it easiest, Wise if you know how much you want to convert, Revolut if you know when to convert

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