Yankee in need of currency exchange advice, please...

[rumpelstiltskin]

Hello,

 

Hubby & I just booked our second cruise to Oz.

 

You folks were very helpful the first time three years ago.

 

What I need to know is: Are there any dept stores or supermarkets that have a Bureau d'Change?

 

For example: In the UK, Marks & Spencer and Tesco both offer very reasonable rates for exchanging USD for GBP.

 

Am hoping that perhaps such a service exists in Sydney?

 

Thanks in advance.

[GUT2407]

None that I know of, but in the city there are cash exchanges all over the place. Not sure how their rates compare.

[Aus Traveller]

You will not find currency exchange in supermarkets in Australia. As the previous poster said, there are plenty of currency exchange places and from what we have seen, the rates are OK. I do not know if you would get a better rate of exchange if you buy currency from your own bank before your trip.

[CruiserBruce]

As discussed all over Cruise Critic, the best place to get Australian money is an ATM in country, in a bank (for security reasons ). Same is true for other countries.

[happysnapper]

As above. But also over the counter in our major banks (Commonwealth; ANZ; National; & Westpac) but only in the CBD (central business district) in Sydney or Brisbane depends on where you dock. They have foreign exchange counters. However I would certainly get some AUD in the States from your bank before you leave so you're ready to go when you arrive. At the moment our $ which is changing daily would cost you somewhere between 0.75 & 0.78 US. Hope you enjoy your visit with us again.

Edited August 11, 2016 by happysnapper

[Blue Elephant]

The ATMs operated by the banks should be secure in Australia. The "big 4 banks" are the Commonwealth, ANZ, National and Westpac. There are a range of other banks as well. Any ATM operated by a bank near the port will be reliable - just cover your hand while you are entering your PIN number.

 

Australia is a very orderly, well regulated country, so the risks of problems with this approach are minimal. Believe me, we poke our cards in the ATM all the time for small amounts of cash.

[lyndarra]

I can't remember the last time I got cash from an ATM. Mrs L always seems to have a ready supply in her purse.

BTW to the OP make sure you have a PIN for purchases as well as ATMs. We don't do signatures anymore.

[Fletch1]

As discussed all over Cruise Critic, the best place to get Australian money is an ATM in country, in a bank (for security reasons ). Same is true for other countries.

 

I would agree with this. The exchange kiosks in the city and airport do not have good exchange rates and the ATM has a fairly competitive rate. Plus the ease of getting money out as you need it, rather than carry around large amounts.

 

Be aware, there is usually a small fee ($2-$3) for withdrawals at ATM's.

[MicCanberra]

Just note that that your cards need a chip and a pin number in Australia.

[Hawka]

The ATMs operated by the banks should be secure in Australia. The "big 4 banks" are the Commonwealth, ANZ, National and Westpac. There are a range of other banks as well. Any ATM operated by a bank near the port will be reliable - just cover your hand while you are entering your PIN number.

 

Australia is a very orderly, well regulated country, so the risks of problems with this approach are minimal. Believe me, we poke our cards in the ATM all the time for small amounts of cash.

 

just in case a scammer has put a skimming device on machine where you put your card make sure it is not a stick on device i always give them a wriggle or a tug just in case , have not found a skimmer yet there seems to be less of them now which is good

[Hawka]

Just note that that your cards need a chip and a pin number in Australia.

 

not all have chips i work retail still got the non chip cards and a couple of cards that do sigs but they are rare as hens teeth now

[The_Big_M]

Just note that that your cards need a chip and a pin number in Australia.

 

I believe the exemption for international cards is still in place.

[CruiserBruce]

I can't remember the last time I got cash from an ATM. Mrs L always seems to have a ready supply in her purse.

BTW to the OP make sure you have a PIN for purchases as well as ATMs. We don't do signatures anymore.

 

Never used our PIN for a month in Australia late last year, at least not for a credit card purchase.

 

As the OP is a US citizen, Australian banks will still ask for our signature on credit card purchases. It is my understanding that Mastercard and Visa have directed the businesses that accept their cards, that they CAN NOT decline a chip card that doesn't have a PIN, except in unstaffed locations. This is certainly true in Europe, where I am currently.

Edited August 11, 2016 by CruiserBruce

[GUT2407]

I believe the exemption for international cards is still in place.

 

It is.

 

The only problem is, a lot staff don't seem to know about it.

[MicCanberra]

I believe the exemption for international cards is still in place.

 

That maybe but it would be beneficial for them to have the newer cards with chips and pin.

[Hawka]

Never used our PIN for a month in Australia late last year, at least not for a credit card purchase.

 

As the OP is a US citizen, Australian banks will still ask for our signature on credit card purchases. It is my understanding that Mastercard and Visa have directed the businesses that accept their cards, that they CAN NOT decline a chip card that doesn't have a PIN, except in unstaffed locations. This is certainly true in Europe, where I am currently.

 

have had some overseas cards go through my checkout some with pin some with out machine justs prints out a slip and asks for a sig the self checkouts do same

[The_Big_M]

That maybe but it would be beneficial for them to have the newer cards with chips and pin.

 

Of course, but just like anything costing money, nobody wants to pay for it.

[MicCanberra]

Of course, but just like anything costing money, nobody wants to pay for it.

 

The cards only cost you money if you use them outside of your budgetary spending.:rolleyes:

[CruiserBruce]

have had some overseas cards go through my checkout some with pin some with out machine justs prints out a slip and asks for a sig the self checkouts do same

 

And that is my experience, both in Australia, and in Europe.

[CruiserBruce]

Of course, but just like anything costing money, nobody wants to pay for it.

 

The cost to switch the US credit card users to just chip cards (no PINs yet) is put at close to 5 billion US dollars. So it is sizable...

[The_Big_M]

The cards only cost you money if you use them outside of your budgetary spending.:rolleyes:

 

The cost is for infrastructure. Getting a chip doesn't change because of how much you spend.:rolleyes:

[MicCanberra]

The bank may have paid for the chip but my card comes free due to the bank account package I have. I have paid for no infrastructure due to having a card.

If I use the card, I pay no interest as it gets paid off each month, so use is free for me. If I don't use the card, the same applies.

[The_Big_M]

Yes, that's all your personal situation.

 

But the matter isn't a personal one. When chip is roled out, everyone gets it; not whether they choose to pay or not. And the question of whether it roles out is a financial driven by the ones actually paying for the infrastructure; the banks and/or merchants.

 

Hence, the original point: nobody wants to pay for what is a very significant cost.

[MicCanberra]

Yes, that's all your personal situation.

 

But the matter isn't a personal one. When chip is roled out, everyone gets it; not whether they choose to pay or not. And the question of whether it roles out is a financial driven by the ones actually paying for the infrastructure; the banks and/or merchants.

 

Hence, the original point: nobody wants to pay for what is a very significant cost.

 

That may be true, but if someone in the USA (or elsewhere) wants a credit card with a chip and pin, there are banks and services that will provide that at no cost to the user unless they exceed the 55 day interest free period on their purchases each month.

[The_Big_M]

That may be true, but if someone in the USA (or elsewhere) wants a credit card with a chip and pin, there are banks and services that will provide that at no cost to the user unless they exceed the 55 day interest free period on their purchases each month.

 

Not quite. Even if it were, that also wouldn't mean the exemption could be removed since the majority don't have those cards, and as yet there's no agreement to fund the infrastructure upgrade that would enable it - and no sign of that.