We noticed that you're using an unsupported browser. The TripAdvisor website may not display properly.We support the following browsers:
Windows: Internet Explorer, Mozilla Firefox, Google Chrome. Mac: Safari.

Australia Post - Fee Free Foreign Currency

Sydney, Australia
Level Contributor
1,178 posts
170 reviews
Save Topic
Australia Post - Fee Free Foreign Currency

When I was back in Australia recently I read a travel article about being able to purchase fee free traveller cheques and foreign currency at Australia Post outlets. I made enquiries at an outlet and indeed this is the case. I was quite surprised.

You may have to enquire if it only applies to Australia Post owned outlets not franchises but I'm sure their website will have details: www.auspost.com.au

Aussie
Level Contributor
1,594 posts
6 reviews
Save Reply
1. Re: Australia Post - Fee Free Foreign Currency

It is indeed free if you swap $au to Australian travellers cheques but if you change your money into another currencies check the exchange rate they give you..this is where they make their money.

Much better to get a wizard clear advantage master card which has NO fees and top up with your own money!!

Broadbeach...
Level Contributor
1,347 posts
2 reviews
Save Reply
2. Re: Australia Post - Fee Free Foreign Currency

AK is correct,they make it in the exchange,why would they bother doing it for free???

Unfortunately,Wizard do the same with their Clear Advantage.

They think we are all stupid,just some of us are and that's enough for them to make money.

Whichever form of exchange you use,the banks will sting you.

Aussie
Level Contributor
1,594 posts
6 reviews
Save Reply
3. Re: Australia Post - Fee Free Foreign Currency

John, if you put money on your Wizard Clear Advantage card you can't lose. You are charged that days exchange rate. It saves a fortune in conversion fees, and foreign exchange fees.

Now we only have to worry about the Thai bank charges.

Cash is best but this card is also great if you are accessing your own money!!

bangkok
Level Contributor
2,218 posts
3 reviews
Save Reply
4. Re: Australia Post - Fee Free Foreign Currency

The Wizard card is exactly the same. it makes it fees from an exchange rate that is slightly less than the official FOREX rates. and rates are dependant on the amount withdrawn. smaller amounts atrract a lesser rate whereas higher withdrawn amounts attract a better rate. but at the end of the day a fee is still taken.

no Wizard or Visa card or foreign currenct transfer gets the official FOREX rates. you will not find one card that does. this is how banks make money on foreign currencies. it's either an upfront fee or a less rate, full stop.

bkk3

Dallas, Texas
Level Contributor
1,055 posts
32 reviews
Save Reply
5. Re: Australia Post - Fee Free Foreign Currency

I was under the impression that you can no longer get a clear advantage cared, - I have one and saved hundreds over the last few years, but I called them a few months ago and was told that as wizard is now owned by Aussie, the Card part is still owned by GEbut no new applications are being taken ---- nor can I increase my limit.

Canberra, Australia
Level Contributor
1,227 posts
204 reviews
Save Reply
6. Re: Australia Post - Fee Free Foreign Currency

Hi Penny

I applied for a wizard clear advantage card last month and had it within days.It seems to be the same card everyone on TA mentions, same no overseas fees etc (which is why i got it as i was stung badly by my own bank last year for overseas fees). There is also an option on their webpage (once u login) to apply to increase your limit

http://www.wizardclearadvantage.com.au/

Hope this helps

Newcastle, Australia
Level Contributor
83 posts
1 review
Save Reply
7. Re: Australia Post - Fee Free Foreign Currency

Try this link for getting foreign currency from Australia Post without commissions being charged - I used it just for a little carrying money & seems Ok just for this, but rates are a little down (approx 10%) from the XE.COM rates.

https:/…index.cfm

As a side note - rate is exactly the same as American Express charge from their own website, still pick up at local post office, but they charge a fee of $8.00 for each currency being changed into foreign cash.

https:/…

Brisbane
Level Contributor
3,861 posts
11 reviews
Save Reply
8. Re: Australia Post - Fee Free Foreign Currency

Very happy with my Wizard card and after having just returned from a month in Thailand am very happy with the exchange rate that I received.

No fees, ever!

Sydney, Australia
Level Contributor
1,178 posts
170 reviews
Save Reply
9. Re: Australia Post - Fee Free Foreign Currency

I hadnt heard of the Wizard card but have a Thai bank account so dont need anything like this, I will recommend to the friends back home that dont work for banks. As a staff member of many banks in Australia you get foreign currency fee free.

Dallas, Texas
Level Contributor
1,055 posts
32 reviews
Save Reply
10. Re: Australia Post - Fee Free Foreign Currency

Very glad they are still offering that card, we used it in Europe and saved so much money on fees, we think it is the best on the market - we normally load it up with a few extra grand before we leave