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Exchange AUS dollars

Newcastle, Australia
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Exchange AUS dollars

We are leaving for Rarotonga on the 7th of April, I am confused as what is the best and cheapest way to change for AUS to NZ dollars- is it to bring cash AUS$ with us and change it over there or use a Travel card or change cash to NZ dollars before we come in.

any suggestions will be appreciated.

Thank you

Aitutaki, Cook...
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1. Re: Exchange AUS dollars

Kia Orana Maryline. I think you will find that you get the best international exchange rate if you use your credit card. That's usually true even after any charges your bank may add for international transactions. If you have a WestPac card there may not even be any additional charges. You should check with your bank, however.

Southwest Desert
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2. Re: Exchange AUS dollars

The worst is changing currency. The second worst is changing travelers checks, The third worst is the ATM machine (presuming you are a non-customer). The best is using a credit card w/o an overseas charge, which is usually 3% on US cards. There are a few credit cards in the US that have a 0% charge which is optimal. Last month at WestPac there was 4% difference in the conversion rate for currency vs the card rate plus a $5 per transaction charge.

Aitutaki, Cook...
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3. Re: Exchange AUS dollars

Sausca, You may notice that Maryline is from Australia where WestPac is from so there may not be any extra charges on a Westpac card in a Westpac ATM.

Newcastle, Australia
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4. Re: Exchange AUS dollars

Thank you for your help and comments.

Hobart, Australia
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5. Re: Exchange AUS dollars

You will pay a fee to use an ATM even if you are a Westpac customer - we found it quite expensive with our ANZ card at around $8 a hit but it was very convenient. Only NZ Westpac customers are not charged a fee - Australian's are. You could get NZ dollars before you leave home with a currency card (we have used ANZ's Visa currency cards) or cash through Australia Post at no fee.

I also travel with 28 degrees credit card where there are no exchange fees for foreign currency purchases using their credit card feature. You can also load it with cash but you can't get it out if you do not spend it all.

Regards

Suzi

nz
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for Norfolk Island, Noosaville, Rarotonga
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6. Re: Exchange AUS dollars

Suzi - not quite right.

If you're a Westpac customer with a Westpac card you will not be charged a transaction fee in any country you use an ATM - as long as you are using a Westpac ATM machine. It sounds as though you were using an ANZ card.

Edited: 28 March 2013, 07:41
Hobart, Australia
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7. Re: Exchange AUS dollars

Really? My understanding that Australian Westpac customers were charged a fee to use a CI Westpac machine.

Suzi

Edited: 28 March 2013, 09:13
Sydney, Australia
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8. Re: Exchange AUS dollars

I am an Aussie Westpac customer and have used Westpac ATMs many times in the Cooks and elsewhere around the world. There is no standard fee for using a Westpac ATM (or in fact any ATM of a sister bank of Westpac, eg Barclays in the UK or BNP Paribas in France). There is the conversion rate to consider, but the AU$5 fee they charge for non Westpac partnership banks doesn't apply.

Hobart, Australia
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9. Re: Exchange AUS dollars

Good to know. Do you get charged foreign exchange fee on top?

Suzi

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10. Re: Exchange AUS dollars

Regardless of whether you are using an ANZ or Westpac card you're charged an exchange rate, it's just the atm fee that's wavered, with ANZ, anyway - don't know about Westpac.

I note the OP is from Australia - I'm with you Suzi - we use Australia Post to exchange our cash - no fees & a good exchange rate.

Probably not a good thing to recommend, but we purchase cash here when the price is good & only use our credit card or the atm when we run out of cash. With 12 months between trips to Raro, we usually have enough cash to last us, except for a restaurant meal or 2.