Obtaining US $‏

[lovetravellingoz]

Travelex worked out cheaper for me - on the exchange rate, as well as lower fees, and FF points as well. Mind you, on the NZ$300 I got, it is not sheep stations - I paid $258.44 all up for the convenience of being slow and having to use a debit card, and being able to pick up at the airport on the way through rather than having to make a separate trip to a bank. On my calculations, NAB would have cost me $262.65 (minimum $10 fee included). So I saved a giant $4.21, a bit of time, and gained 1292 FF points.

1292 points is worth say $25-50 and so not insignificant.

 

[medhead]

I am afraid I am not convinced. NABs fee is stated as being 1.1%, with a minumum of $10, not $5 anymore. You also need to look at the CASH (provided by Travelex) rates if you are after Cash - the NAB rates for Cheques and TTs don't apply to cash. Indicative rates for cash this morning are NAB (note that a lot of the banks are outsourcing physical foreign cash to Travelex) for NZ$ is 1.1874 with Travelex Online (via the Qantas money) actually offering a better rate of 1.1950. (Yesterday I got 1.1900 from Travelex, so even if NAB is just slow updating this morning, Travelex was still better). This compares to the (current) XE mid-market rate of 1.2354. So there is about a 2.6% spread on the Cash to start with (which is close to the 3% difference you were quoting), plus add the fees involved.

Thanks, I should have check the fee. And your right of course on the cash exchange rate. Well I checked this out to day and I was wrong so please ignore the small bits in brackets. (however, I expect that the main NAB branch in the capital cities will continue to do Forex. For that reason I don't accept the indicative cash rate provided by Travelex on the website. So I was really using the difference in T/T and T/C to make an assumption of the cash rate if I was to walk into the branch. I should have checked, of course.)

Regarding the spread, IME NAB is closest to the mid-market rate (even cash in the branch), but they also charge a fee. Whereas places like travelex, that don't charge a fee, will be the furtherest from the mid market rate. From the example I posted on the T/T and T/C rates, as you noted there is a 2.6% difference between NAB and Travelex, with Travelex being worse. Hence NAB is closest to the mid-market rate, They make up for this by charging a fee. Travelex's fee is built into the spread.

Of course that doesn't have the convenience or FFP that you got, as below.

Ohh and yes all these websites are slow in updating, but the branch rates have been up to date in the past.

Travelex worked out cheaper for me - on the exchange rate, as well as lower fees, and FF points as well. Mind you, on the NZ$300 I got, it is not sheep stations - I paid $258.44 all up for the convenience of being slow and having to use a debit card, and being able to pick up at the airport on the way through rather than having to make a separate trip to a bank. On my calculations, NAB would have cost me $262.65 (minimum $10 fee included). So I saved a giant $4.21, a bit of time, and gained 1292 FF points.

 

[lovetravellingoz]

1292 points is worth say $25-50 and so not insignificant.

Though I have just had look at the QF site...and it indicates that for every $5 you gain 1 point and not 5 points for every $1.

So that would only be 52 points and not 1292.

 

[albatross710]

Has anyone else noticed that when the title of this thread appears in list of thread titles the the multipage indicator is in reverse order?

Obtaining US $3 ‏ ( 1 2)

Instead of

Obtaining US $ 1 2 3 ) )

I'm guessing something to do with that $ symbol in the heading.

 

[Mal]

Has anyone else noticed that when the title of this thread appears in list of thread titles the the multipage indicator is in reverse order?

http://www.frequentflyer.com.au/com...lly-off-topic-thread-6220-114.html#post262757

Havn't noticed it myself, but it's only on one page for me.


-- edit. Just changed my settings to view 5 posts per page, and indeed it is showing 3 2 1. Obscure!

 

[serfty]

... Havn't noticed it myself, but it's only on one page for me.

Same for me, I read @ 40 posts per page ... so it's still page 1 for me.

 

[albatross710]

Same for me, I read @ 40 posts per page ... so it's still page 1 for me.

You guys have something to look forward too...I guess this post will take you one post closer.

 

[notzac]

Has anyone else noticed that when the title of this thread appears in list of thread titles the the multipage indicator is in reverse order?

Well spotted! Just noticed that myself..

 

[k_sheep]

Don't forget Westpac is partners with Bank of America so you avoid the $5 foreign transaction fee. If there's an atm at the airport you're flying into (see http://locators.bankofamerica.com/locator/locator/LocatorAction.do) then you won't need to take any cash with you.

 

[Flashback]

Don't forget Westpac is partners with Bank of America so you avoid the $5 foreign transaction fee. If there's an atm at the airport you're flying into (see http://locators.bankofamerica.com/locator/locator/LocatorAction.do) then you won't need to take any cash with you.

But there's still a % conversion fee on the transaction, so still not as good as the Wizard / NAB Gold card.

 

[equus]

Though I have just had look at the QF site...and it indicates that for every $5 you gain 1 point and not 5 points for every $1.

So that would only be 52 points and not 1292.

Oops - I need to read more carefully. Silly way of expressing it, and I guess I am too used to seeing points per dollar, and not the other way around.

Good thing I wasn't really doing it for the points - as the cost / convenience factor was the main driver.