Trying not to get my arm ripped off from exchange rates.
If I Have Foreign Cash - What's The Best Way to Convert into AUD within Australia
Asti on 05/11/2024 - 13:54
Last edited 05/11/2024 - 14:02 by 1 other user
Last edited 05/11/2024 - 14:02 by 1 other user
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How much are we talking and what currency?
Around 15k HKD
just take it to one of those travel exchanges at the travel stores in shopping centers, i do that, they just dont swap coins. which is no biggie.
As far as I know United Currency Exchange has good rates. Problem is long lines/wait. I've visited them at Melbourne QV before.
Worth trying this route
Open an HSBC Global Everyday account: https://www.hsbc.com.au/accounts/products/everyday-global/
Deposit HKD cash at select branches: https://www.hsbc.com.au/foreign-exchange/real-time-rates/
USD and HKD cash transactions are available at selected HSBC branches. For USD and HKD deposits, these must be notes only and in multiples of 10. Cash transactions in USD and HKD are subject to cash handling fees. Please refer to the Personal Banking Booklet
Wait for good rate before converting to another currency
Second this. Tried many exchanges but so far this was the best option for USD.
I've exchanged a large amount via United Currency Exchange once before and have found their rates comparable against WISE's rate. But not HKD though.
Bikies
Since you said "If" I hope you are not in this situation yet. In that case please just convert it to AUD before bringing in.
I have been to that path before and find out that the currency shops all offer terrible rates.
Most major banks do not accept foreign cash anymore. The only one did was Commwealth.
We end up sending the cash back to origin country and use Wise to transfer back, which was still better than local currency shop.I am still in the origin country, did you find a way to get from cash into your wise account? As far as I'm aware , wise doesn't accept cash deposits
you need to put in your local bank account then transfer to wise. it should be free
If anyone is looking at this, I went to an exchange at Nathan road at Tsim Sha Tsui who gave me a pretty good rate. (0.5% spread). There are like 10 stores all in the same place, just look for the one with the best rate on the day.
Find people that are travelling to that country, sell it to them.