Qantas Travel Money: 10 Discounted Foreign Exchange Rates @ Qantas Money

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Buyer0fBargains on 24/04/2024 - 15:59 qantasmoney.com (155 clicks)
Last edited 24/04/2024 - 16:24 by 1 other user

From the email "Discounted rates across all ten currencies when you load foreign currency onto your Qantas Travel Money card.* Offer ends 5pm on Friday 26 April 2024, so be quick." Some of the example rates at time of posting:

Currency	Standard rate (per AUD)	Sale rate (per AUD)
USD	0.6188	0.6240
EUR	0.5756	0.5817
GBP	0.4916	0.4968
NZD	1.0260	1.0369
JPY	94.7741	95.4761
CAD	0.8231	0.8364
THB	22.2363	22.6667
HKD	4.7212	4.7974
SGD	0.8196	0.8328
AED	2.2130	2.2368

Also in the email it states "You'll enjoy free instant load until 26 April 2024, so you can access your Qantas Travel Money funds immediately." however I can't see this mentioned on the website.

I know the rates aren't great but I thought it could be useful if you need the points boost. If I'm wrong, feel free to educate me in the comments.

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• 

  abs898 on 24/04/2024 - 16:02

  +6

  Still pretty shit compared to Wise.

  In my experience, Amex's conversion rate is very close to XE, and taking 3% out will still work out better than Qantas.

  • 

    Buyer0fBargains on 24/04/2024 - 16:10

    +2

    Amex with the 3% conversion fee and their exchange rate is still better? There is no rates I can find on Amex's site. So I can't see their rates ahead of time, it looks like I only ever know what they charged after I do the transaction - that annoys me.

    • 

      abs898 on 24/04/2024 - 16:24

      +2

      That's correct you won't see it earlier.
      A couple of days ago I paid for tickets in JPY and after 3% conversion I received about a 96JPY rate.

      Considering 2 days ago the rate on google was 99.3 vs today's 100.8, I still received a better rate than what Qantas is offering today which is 95.

      You would also need to consider if a CC is costing less than preloading Qantas travel card, you are also not footing upfront cash which can sit in an offset or high yield account and accrue interest.

      • 

        Buyer0fBargains on 24/04/2024 - 17:09

        True. Ok. So just stick to using my amex? what about with the whole AliExpress thing and buying in USD - that threw me for a loop. I always pay for it in AUD on my Amex via PayPal but this thread threw me for a loop. I thought the Qantas Travel Money card could be a good option

        • 

          abs898 on 24/04/2024 - 17:28

          @Buyer0fBargains: A few free card is where there is no fees but conversion rate is higher. Something like MQ as listed below

• 

  xiaozaocha on 24/04/2024 - 16:23

  +3

  wise rate

  EUR 1:0.606
  USD 1:0.649

  • 

    Buyer0fBargains on 24/04/2024 - 17:10

    That is obviously a better rate, but all the fees are so confusing!

• 

  RedSky on 24/04/2024 - 17:19

  +3

  Use a credit card with good conversion rates like 28D / Macquarie for card payments.

  For cash out, load up Wise or Revolut with foreign currency (or convert on the fly, although Revolut charges additional fees for weekend conversion).

  Also keep in mind, you are much safer using either a credit card or debit card with limited available funds when travelling overseas (i.e. not your main savings account).

  Card skimming is rampart in many countries and a bank will care much less about your fraudulent transactions on a debit card than a credit card. Disputing fraudulent transactions when you're on holiday and overseas is often the last thing you want to be doing.

  • 

    Buyer0fBargains on 24/04/2024 - 17:20

    Personally I'm looking at a solution for drawing cash and for purchases. I have a credit card, I don't want another.

    • 

      Shadowsfury on 24/04/2024 - 17:48

      +1

      Debit card with no forex fees - there's heaps on the market

  • 

    [Deactivated] on 24/04/2024 - 18:11

    +1

    Tested HSBC Global debit card, equivalent to around 2.5% fee compared to spot rate (JPY-AUD). Latitude 28 around 1-1.5% compared to spot rate. Both advertised no transaction fees but they seem to have amortized the fee into exchange rate.

• 

  cchhiillyy on 24/04/2024 - 17:28

  +2

  Macquarie debit card rates are almost 1:1, better than this.

• 

  Nom on 25/04/2024 - 22:36

  As mentioned, there are plenty of "no international fees" credit cards and debit cards on the market - they give you the MasterCard or VISA rate, and it's very close to the actual rate. If you need to spend overseas, get one of these.