Australian dollar to the US dollar?
Aug 25th, 1999, 03:17 AM
#1
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Australian dollar to the US dollar?
Hi, I'm from Australia and was wondering if we would be better off changing our money when we get to the USA rather than buying travellers cheques in US dollars here before we go. Could anyone tell me the exchange rate that it would be over there if I was to do this? In our local paper today it said that one Aussie dollar would buy me 63 cents in US currency here, so is it the same for me over there? A friend told me he used his credit card while he travelled about in the USA and got a better exchange rate than if he had of bought travellers cheques in Australia before he left. Is this true? Any help would be most appreciated.
Aug 25th, 1999, 04:31 AM
#2
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IN GENERAL, your best exchange rate is when you use your credit card. Check with your credit card issuer about fees for using a credit card in non-Australian currency.
The second best exchange rate is at ATM's, which are extremely common here in the US. If you can get an ATM card on the CIRRUS or Plus network, you'll have no trouble getting funds. Note that some ATM limit the amount of money you can withdraw in any 24 hour period, so don't use it to get ten bucks if you'll later need to pay your motel bill.
It's been my experience that exchange rates will be very close to the same whether you change your money before or after you arrive. One advantage of doing it before, and getting travelers checks in US currency, is that you won't spend time after arrival trying to find a place to make the exchange; you can just wait till you need the money to cash your checks. Many travelers today, however, survive perfectly well with credit cards and ATMs.
The second best exchange rate is at ATM's, which are extremely common here in the US. If you can get an ATM card on the CIRRUS or Plus network, you'll have no trouble getting funds. Note that some ATM limit the amount of money you can withdraw in any 24 hour period, so don't use it to get ten bucks if you'll later need to pay your motel bill.
It's been my experience that exchange rates will be very close to the same whether you change your money before or after you arrive. One advantage of doing it before, and getting travelers checks in US currency, is that you won't spend time after arrival trying to find a place to make the exchange; you can just wait till you need the money to cash your checks. Many travelers today, however, survive perfectly well with credit cards and ATMs.
Aug 25th, 1999, 05:18 AM
#3
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Paul's right. Use credit cards and ATMs to get your dollars in the US. I can't imagine any airport in the US not having at least one ATM. This country is crawling with them.
According to my currency exchange monitor, A$1 = US$0.63.
One warning about US ATM's. The fees charged by the bank who owns the ATM have been creeping up (this is in addition to any fee charged by your bank). You will always pay this fee; $1 is cheap and I've seen them as high as $3.50 (New Orleans). So be sure to limit the number of times you withdraw cash to minimize the fees you'll pay.
Welcome to the US.
According to my currency exchange monitor, A$1 = US$0.63.
One warning about US ATM's. The fees charged by the bank who owns the ATM have been creeping up (this is in addition to any fee charged by your bank). You will always pay this fee; $1 is cheap and I've seen them as high as $3.50 (New Orleans). So be sure to limit the number of times you withdraw cash to minimize the fees you'll pay.
Welcome to the US.
Aug 25th, 1999, 07:54 PM
#4
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Kylie, we are also travelling to USa from Sydney in September. What we are going to do is buy a little bit of US currency in small denominations for tipping etc, there was no charges with Westpac because we were customers. It takes about one week to arrive. Its a good idea to have a little bit of actual cash with you incase you cannot get to an ATM or cash your travllers cheque, you may need to tip or buy a can of coke etc.
Then we are going to put our visa card in credit with our spending money and charge most things, and get the cash out at the ATMs when required. There are fees as per previous post, I know WBC and ANz charge about 2.65 per transaction, so you will need to think ahead if you do it that way. For example, in our hotels, we will charge all the meals , tours etc to our room and just pay the lot on the card at the end. The dollar is not great is it? it is still about 0.6300, I do not think it changes whether you change money in OZ or in USA. have a great trip.
Then we are going to put our visa card in credit with our spending money and charge most things, and get the cash out at the ATMs when required. There are fees as per previous post, I know WBC and ANz charge about 2.65 per transaction, so you will need to think ahead if you do it that way. For example, in our hotels, we will charge all the meals , tours etc to our room and just pay the lot on the card at the end. The dollar is not great is it? it is still about 0.6300, I do not think it changes whether you change money in OZ or in USA. have a great trip.
Aug 26th, 1999, 04:45 PM
#6
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A good site for you is http://www.oanda.com/converter/classic.
You can get current rates including a typcial 2 % card rate and 4% cash rate or set your own. Also you can look at the history. Right now a card rate for a $US is 1.61 $AU and a cash rate is $1.65 more or less. However, do what is most convenient. Most people get lost in thinking about exchange rates. If you are going to spent $3,000 AU in the US and if you save 2% on exchange that is $ 60 AU. That will not buy a dinner for two in a decent restaurant with booze.
You can get current rates including a typcial 2 % card rate and 4% cash rate or set your own. Also you can look at the history. Right now a card rate for a $US is 1.61 $AU and a cash rate is $1.65 more or less. However, do what is most convenient. Most people get lost in thinking about exchange rates. If you are going to spent $3,000 AU in the US and if you save 2% on exchange that is $ 60 AU. That will not buy a dinner for two in a decent restaurant with booze.
