Where can I get best currency exchange rate, Aus $ to New Zealand $?

Answer 1

If you go to the ANZ bank to buy NewZealand dollars they will charge you an $8 fee. If you wait untill you get to NewZealand and use an eftpos machine A $5 charge will be charged by your Australian bank. But if you can wait and take Australian notes into a bank in NewZealand there is no fee charged and they give you the best rate.

Answer 2

I always prefer to take a small amount of foreign currency with me (say change $100-200) so I have some ready cash on hand upon arrival. Usually you will get a slightly better rate online with one of the larger brokers and you can pick up at airport before you leave.

Then check local banks or exchange offices for the best rate.
All will charge some sort of commission...this will either be a flat fee or is built into the exchange rate offered.

Alternatively leave cash in the bank at home and use your ATM card. Be warned...in some countries, esp in Asia there are fake ATM's. Always use an ATM at a proper bank and not one at a local market or in the street.

Cheers :)

Answer 3

There really is no best option. Everybody charges a fee someway or another.
Are you from NZ or Australia? Best bet and cheapest is to use an ATM. So if you are in NZ and with ASB, use Commonwealth's ATM.

ANZ, and Westpac is OK both countries. Don't use other ATM though because you will get charged not only a foreign fee but a $35 charge for using another banks machine.

eg: - If I get money from my NZ account here in Australia, say $200 a time, I get charged about $3 fee each time that would show up on my bank statement. It would be more 'fees' if I took NZ money into the bank and asked them to change it over..

For all other banks, ask them what bank ATM do you use in Aussie or NZ (like a sister bank) that way, less charges. This info is generally on a banks website also.
Hope it makes sense.

Answer 4

New Zealand Exchange Rate

Answer 5

Easy question. Stay the heck away from Travelex and any other 3rd party currency converter (especially at the airport of course!). Many places will promise you $0 commission. THIS ISN'T WHERE THEY MAKE THEIR MONEY. The money is on the spreads... i.e. I buy USD off this person for 0.60 then sell it to you for 0.40 I've made a spread of 20 points. You want to find the smallest difference between the BUY price and the SELL price - that's how you know you are getting a good deal. In terms of which banks are good I think that the National Bank on Queen street has some pretty fair rates - but they SHOULD be the same across all National Banks. Stay away from those dodgy side-alley converters they will NEVER be good value.