Travelex rip-off Melbourne Int.

[HKGNZL]

At HKG last wk. HK has a fixed exchange rate of 1 us$ to 7.8 hk$ for decades. At airport Travelex they offered 7.0 rate even worse than my hotel front desk 7.3.

 

[HenkE]

Hmmm ... a valuable discussion. I now feel slack Never paid much attention to exchange rates before - even though I travel OS frequently, especially India. However that will change as from now - thanks to this thread. BTW any tips for exchanging in Mumbai? Thanks again

 

[markis10]

Another datapoint, transaction last night with Citibank using their Debit visa - USD$88.31, processed last night to account at AUD$ 84.61 giving effective exchange of 1.0437.

 

[djd]

If anyone is going to Phnom Penh just take AUD and change at one of the many currency exchange places near Central Market. There exchange rate will be about 1 cent less than the wholesale rate and 3 or 4 cents better than ANZ Royal's.

 

[Isochronous]

Another datapoint, transaction last night with Citibank using their Debit visa - USD$88.31, processed last night to account at AUD$ 84.61 giving effective exchange of 1.0437.

That's pretty decent actually.

 

[Cynicor]

That's pretty decent actually.

That's really the point- 28 degrees of citi plus are the only way to fly. Rates aren't locked in but nor is the money tied up in non-interest earning cash.

 

[gizzard]

Yes, the Travelex rates are high but is it a good way of topping up some FF points?
You get 1 point per A$ for A$9,999.

According to the online rates at the moment your A$9,999 would buy you US$10,086 - a lousy rate but you now have 9,999 points.
If you were to sell the US$10,086 back then you'd get about A$9,240 which, I believe, would give you another 9,420 points.

So you've bought 19,239 points for A$759 which is 25.35 points per A$ or about 4c per point.


I'm not certain if my logic is the way it actually works but, if so, then that's one way of gaining some extra points for an upgrade or for an SC run if you're short of the points needed to tip you over to the next FF level.

 

[markis10]

Yes, the Travelex rates are high but is it a good way of topping up some FF points?
You get 1 point per A$ for A$9,999.

According to the online rates at the moment your A$9,999 would buy you US$10,086 - a lousy rate but you now have 9,999 points.
If you were to sell the US$10,086 back then you'd get about A$9,240 which, I believe, would give you another 9,420 points.

So you've bought 19,239 points for A$759 which is 25.35 points per A$ or about 4c per point.


I'm not certain if my logic is the way it actually works but, if so, then that's one way of gaining some extra points for an upgrade or for an SC run if you're short of the points needed to tip you over to the next FF level.

Poor value, a new member of Epiqure could buy 4 of the 2000 point specials this week for $800 odd and get pretty much the same amount of points, and by comparison a large amount of "free" wine!

 

[Limewood]

I've found Amex booths give better rates than banks and others.

 

[Cynicor]

Hmm... If going to SIN soon that would be an ok idea. You could pay the rip off rate and get 10086USD, then change at Mustafa right now to get 9473AUD- cost of $526 for 19 239 points, 2.73c/point, bit better value.

I haven't checked your numbers and I've never used travelex so I'm not sure if that's how it works, but that cost is pretty close to some people's cut off for ok value!

 

[RooFlyer]

Just use an ATM at the destination, you will be 5% better off than those figures with a Citibank debit card, and the number of places that dont have a readily available ATM are getting smaller and smaller. Taking cash thats changed in Australia is a rip off no matter who you use.

Yep. Haven't exchanged money in Australia for years now. Or 'exchanged' it anywhere else, for that matter. Makes my study drawer look like my own FX shop (currently holding 12 currencies ), but it all gets used eventually.

 

[JohnK]

Travelex in HKG airport is no better than Travelex in Australia.

 

[mannej]

Travelex in HKG airport is no better than Travelex in Australia.

Or SIN or LHR or etc etc etc.

I can see a pattern emerging here