Travelex rip-off Melbourne Int.

[Duffa]

Yep. nothing has changed for Travelex
Just bought $200 Sin for taxi from Changi airport later today
Charge $181.
Was at ANZ a few mins later changing small A$ to larger denomination. Asked out of interest what the rate was for $200 Sin --- $173 !!
Eight bucks more or 4.6% more. Rip off either way.
If just one AFF'er gives them a miss this week, then I'll have had my revenge!!

p.s. Went to Travelex initially because ANZ had a big queue and wanted to get air-side ASAP!

 

[Hvr]

And if you'd pre-ordered it by going through the Qantas site to Travelex and using that rate you would've saved even more.

Current rate for SIN$200 is AUD$166.65.

Airport currency purchases are always a rip off and Travelex even more so.

 

[oz_mark]

And if you'd pre-ordered it by going through the Qantas site to Travelex and using that rate you would've saved even more.

Current rate for SIN$200 is AUD$166.65.

Airport currency purchases are always a rip off and Travelex even more so.

Convenience comes at a cost, and if you skip the Qantas part, and just go straight to the Travelex site, you'll get it for $165!

(although they will bit you if you pay by CC!)

 

[harvyk]

Airport currency purchases are always a rip off and Travelex even more so.

Agree 100%... Annoyingly last trip, given payday was the day I left, I didn't have the funds the day before, and I didn't want to turn up in the US without a cent of local currency on me, I bit the bullet and used travelex at SYD... AU$65 = US$50 after their less than extraordinary exchange rate + fees where taken out, or an effective exchange rate of US$0.76 in the dollar (at the time the US$ was sitting around $1.03)

 

[NM]

If just one AFF'er gives them a miss this week, then I'll have had my revenge!!

You can rest assured that I will be giving them a miss this week (as I do every week)

 

[oz_mark]

Agree 100%... Annoyingly last trip, given payday was the day I left, I didn't have the funds the day before, and I didn't want to turn up in the US without a cent of local currency on me, I bit the bullet and used travelex at SYD... AU$65 = US$50 after their less than extraordinary exchange rate + fees where taken out, or an effective exchange rate of US$0.76 in the dollar (at the time the US$ was sitting around $1.03)

Why not order it online a few days before, pop it onto the Credit Card, take the 1.5% hit on the C/C, and it still would have only been $50/$51, and you could pick it up at the airport on the way through.....(although you do need to change $250!)

(NB. Mine have always gone through as purchases, not as cash advances, but there is always a chance that they may be cash advances)

 

[Sprucegoose]

Something's just never change !

Thnxs for the tip I'll be in Singapore in a few hours and need cash!

Ill get enough for scab and exchange better when in town.

Best place in town?

 

[NM]

Convenience comes at a cost, and if you skip the Qantas part, and just go straight to the Travelex site, you'll get it for $165!

And if waiting until arrival at SIN and using an ATM to withdraw cash from a 28 Degrees MasterCard that was pre-loaded, then it will cost about $158 plus any local ATM usage fee if applicable. (based on today's exchange rate of 1.2751 as obtained just now from xe.com).

For this reason I rarely exchange cash before departing Australia. There is always an ATM at the arrival airport where I can collect cash for the taxi etc.

 

[oz_mark]

And if waiting until arrival at SIN and using an ATM to withdraw cash from a 28 Degrees MasterCard that was pre-loaded, then it will cost about $158 plus any local ATM usage fee if applicable. (based on today's exchange rate of 1.2751 as obtained just now from xe.com).

Well, you should use your card as a credit card in accordance with the terms and conditions you agreed to. Much better to use an account, such as the Citibank Plus account, which was designed as a transaction account.

 

[harvyk]

Why not order it online a few days before, pop it onto the Credit Card, take the 1.5% hit on the C/C, and it still would have only been $50/$51, and you could pick it up at the airport on the way through.....(although you do need to change $250!)

Normally that's what I'd do (well I'd use BPay). It's just finances where a bit tight before payday this time around and I avoid credit cards as much as possible, so I don't have one as I know I'll just get myself into trouble with one (as I have done so in the past).

 

[Austman]

There is always an ATM at the arrival airport where I can collect cash for the taxi etc.

Except in countries where there isn't. I agree though, it's nearly 100%.

 

[moa999]

Well, you should use your card as a credit card in accordance with the terms and conditions you agreed to. Much better to use an account, such as the Citibank Plus account, which was designed as a transaction account.

OK,
So I withdraw $200 cash advance from the 28 Degrees card, then BPay the same amount back the next day.
At most I am hit with a couple of days interest

 

[greenfrog86]

I use Australia Post...

Reasonable exchange rate (when compared to other places that provide fx - I'm not comparing to 28 Degrees or CitiPlus here) and they don't charge any fees...

Most banks will charge you a fee as well as not having great rates - some banks are as high as $8 which really eats into a small balance

 

[dajop]

For reference currently for $200 SGD in Singapore itself it should cost about $158 AUD (eg Mustafas, some of the currency change booths dotted throughout Singapore). So about the same as 28 degrees card.

 

[Major]

I never change back to AUD at the end of a trip. That way I usually have enough for taxis etc on the next trip. I then change locally as required

 

[DTM1]

By far and away the best rate in Singapore is at the money changer at mustafas in Little India - they effectively match the interbank rate on XE - must be very high volume to maintain wafer thin margins. Next best are the money changers at raffles place.

I always bring home around $100 equiv for every country I visit (and where I'm likely to return) so that I don't have to change at an airport. Have a wallet with about 10 currencies in it. The only one I haven't used in the past couple of years is my yen, but I know I'll use it at some point.

 

[NM]

Well, you should use your card as a credit card in accordance with the terms and conditions you agreed to. Much better to use an account, such as the Citibank Plus account, which was designed as a transaction account.

I do use it as a credit card, and for cash advances. I just happen to pay it off a little earlier than I am required and hence avoid paying interest. The 28 Degrees Master Card allows cash advance from an ATM according to the terms and conditions I agreed when selecting the card. But its not the only card that offers the ability to withdraw cash from an overseas ATM with no foreign currency transaction fees. The Citibank product you mention will also provide a better exchange rate than any airport currency exchange provider.

 

[NM]

Except in countries where there isn't. I agree though, it's nearly 100%.

Yes, there are some places it would be a problem, but not Singapore. It would definitely be an issue in Columbia where MasterCard is not accepted anywhere.

I did note that there were no functioning ATMs at Gare Du Nord train station in Paris when I was there in 2003. All the ATMs were "out of service" and people queuing at the currency exchange booths. I walked across the road and used an ATM for my cash withdrawal. I suspect it was a scam to force people to use the on-site currency exchange rather than an ATM.

 

[Duffa]

Now I feel REALLY ripped off but my own fault totally.
A bit OT but were off to Hanoi on two days.
Have 2k in $Au having learned not to take $US and pay twice for exchange. So which is better?
Cash at money changer.
Cash from ANZ ATM (which are everywhere in Vietnam) and take cash home.
Pay bills with Amex plat?
Pay with citi select at 5 ppd?

 

[bigjobs]

Haven't read all replies ... but ...

you're complaining about airport currency exchanges and how they are rip off merchants ... Please, tell us all more.