Travelex Australia Review including all the fees, commissions and rates (2024)

FAQs

Does Travelex charge fees in Australia? ›

Travelex has a massive network of stores and pick-up locations making it easy to order online and collect later. Their exchange rates are consistently better than any Australian bank. They do not charge any commissions or fees. However paying them using a credit card may incur fees.

You can't get a Travelex card in the US – but you can access a Mastercard multi-currency Cash Passport.

As we said previously, buying the local currency of your destination country is the cheapest way to buy currency. This means it's best to sell foreign currency in Australia to get Australian dollars (AUD). The only issue is if you need to sell foreign cash, your options in Australia are limited.

The Bottom Line

Remember to stick to ATMs and no-transfer-fee credit card spending, and avoid exchanging money at airport kiosks, hotels, and buying things with U.S. dollars to avoid costly exchange rates and fees.

How will my order be sent and is it secure? Your order will be sent using secure Royal Mail Special Delivery and will require a signature upon delivery. Travelex Money cards are sent separately by First Class post and you will need to call us on the number provided with the card to activate it.

Formerly part of now-defunct Finablr, Travelex's fortunes quickly turned due to the coronavirus pandemic and a cyberattack that forced it to temporarily disable its systems. It then went through a pre-pack administration that led to more than 1,300 job losses and saw its creditors seize control.

If you're traveling abroad, you can usually get the best rates if you plan ahead. Look to online currency brokers such as Travelex, Eurochange, the Currency Online Group, or TravelFX, which provide home delivery. They are likely to have better rates than your home bank.

There are no limits to how much cash you can bring into Australia, but if it's $10,000 (AUD) or more (or the equivalent in a foreign currency), you're required to declare it at customs.

Is it better to take cash or card to Australia? ›

Although you'll probably be able to rely on your card entirely while in Australia, it's still better to have some cash in your wallet. Like we mentioned before, Australian businesses have the right to refuse certain payment methods, so having cash will help you avoid any uncomfortable situations.

Exchanging your money in Australia

Whether you choose to buy your AUD currency at home or wait until you arrive in Australia, the exchange rates shouldn't vary too much. As a safety precaution, many travellers choose to travel with very little cash, relying instead on mostly cards and ATM withdrawals when they arrive.

The best place to exchange foreign currency in the U.S. is at your local bank or credit union before you leave for your trip.

Travelex Money Card is a contactless prepaid Mastercard® currency card, designed for overseas use. Charges for use in the Australia will apply - for more information, please visit travelex.com.au/travel-money-card for the fees and limits.

From 1 November 2024, the NAB International Transaction Fee will increase from 3% to 3.5% of the converted AUD amount of single and multi-currency international transactions.

Commonwealth Bank have foreign exchange outlets as well as more well know brands like Travelex or Travel Money Oz. The best place to buy foreign currency in Sydney though is through one of the less well known money changers like Crown Currency or WeXchange.