Foreign Currency Explained

Guilty of leaving your currency exchange to the last minute? 

You’re not alone! With its fancy phrases and unfamiliar terms, the process of buying currency confuses a lot of people. Let’s spell things out so you can get your money sorted and get on with your holiday. These foreign currency tips will help you understand what’s what in the world of Forex.

Buying Foreign Currency

  • What foreign currencies can I buy?

  • Do you charge fees?

  • Will you match a better rate?

  • Will you have stock available in store?

  • How often do your rates change?

  • Your website rate is different to your in store rate

  • How can I pay for my foreign currency?

  • What do you think the rates will do?

  • If you need to order in stock, can I still get today's rate?

  • Can I exchange from one currency to another, other than AUD?

  • Can I cash my traveller's cheques in store?

  • Do you sell traveller's cheques?

  • Do I have to be over 18 years of age to buy foreign currency?

  • Why do you need to ask me all these questions when I am exchanging money?

  • I have a VIP Card from my agent - what is a VIP Exchange Rate?

  • Are there any restrictions on the amount of currency I can take on my holiday?

Selling Foreign Currency

  • Can I sell you currency?

  • Where can I find today's sell rate?

  • Do I need to let you know in advance if I am bringing in foreign currency to sell?

  • Can I sell you my foreign banknotes and coins?

  • What foreign currencies do you accept?

Buying Foreign Currency Online

  • Can I specify the denominations on my online order?

  • How soon can I pick up my order after I've placed it online?

  • Are there limits to how much foreign cash I can order online?

  • How can I pay for my online order?

  • Can I change my online cash order collection date?

  • Can I cancel my online cash order?

  • Can someone else collect my online cash order for me?

  • Can I use a foreign-issued credit or debit card to pay for my online cash?

  • I've tried to place my order online, but it says "Order Not Processed" - what does that mean?

  • What do I need to bring with me to collect my order?

Foreign Currency Explained

  • What is a "buy" rate?

  • What is a "sell" rate?

  • Why can I not get the market rate?

  • What is "spread"?

  • Why do exchange rates move?

  • What is dynamic currency conversion?