Best locations in Perth for currency exchange-millkun, Perth is among the world’s most remote cities, yet it’s still well worth a trip. It has a distinctive culture and some of the best beaches (and weather) in the nation, and is closer to Indonesia than Canberra, the capital of Australia. Perth offers a lot of fun things to do.
Prices in the city have increased as a result of the mining development in the state’s northern regions. All are welcome to swim in the Indian Ocean and take treks through the wilderness, but you’ll need some Australian dollars for the experiences that cost money.
Also read Best locations in Brisbane for currency exchange-millkun
Read this guide on how to find the best places to exchange your money in Perth.
Things to know before exchanging your money
Spend some time learning about exchange rates before converting your money to AUD. Here are a few facts that will be useful for you to remember. Spend some time learning about exchange rates before converting your money to AUD. Here are a few facts that will be useful for you to remember.
Concerning the Australian Dollar
The Australian Dollar’s value might increase or decrease because it is a truly free-floating currency. An exchange rate can be impacted by a variety of factors, including inflation, interest rates, and societal and political changes.
You can sign up for exchange rate alerts to stay informed about changes in the exchange rate. In this manner, you can plan your purchase to coincide with the best possible exchange rate.
Check the mid-market rate at all times
The supply and demand factors influence the value of the Australian Dollar. However, by contrasting the exchange rate being given to you with the mid-market rate, you can still determine if you’re getting a fair price. This is regarded as the most equitable exchange rate available.
Keep a close eye on the exchange rates by checking the Wise currency converter to make sure you get the best conversion rate in Perth. Compare the tourist rates to mid-market rates while also accounting for any upfront charges.
Avoid money exchanges at the airport and hotels
Although it is never a good idea to exchange money at the airport, there are several locations at Perth Airport where you can do so after you get there.
Several kiosks and ATMs are operated by the global foreign exchange corporation Travelex. They may be found on levels 2, 3, and 4 of the international terminal as well as level 1 of the domestic terminal. Throughout the duration of the flight schedule, branches are open. Additionally, you have the option to order foreign money in advance and pick it up when you get there.
At your accommodation, you might be able to exchange foreign cash. However, hotel exchange rates are infrequently (if ever) a good deal, just like airports. So, unless absolutely necessary, please refrain from using this option.
Kiosks are open throughout the flight schedule, 365 days a year. You can find more information about the kiosk and ATM locations at Perth Airport here.
The use of ATMs
Using an ATM to obtain Australian dollars can be quick and inexpensive if you use caution.
Westpac, the largest bank in Australia, is a member of the Global ATM Alliance, therefore if your home bank is also a member of the network, you could be able to use their ATMs for free withdrawals. Check to see whether your home bank has any special agreements with an Australian bank even if it is not a member of the Global ATM Alliance.
If you want to proceed with or without conversion, some ATMs may ask you which currency you’d prefer to be charged in. Select whether to complete the transaction without conversion or to be charged in the local currency for the latter query. So choose to be charged in AUD, and decline the ATM’s offer to convert.
Spend your money before you leave Budget for your trip to prevent having extra AUD when you arrive home. You will incur double conversion fees on the same amount of money if you convert funds back to your home currency. Spend any excess money, especially coins, instead. Other options include holding onto it for your subsequent trip or offering it to a friend for the price you paid for it.
Westpac, one of the largest banks in Australia, has several ATMs around Perth. As part of the Global ATM Alliance, they offer fee-free withdrawals to customers of other banks in the alliance.
If your home bank isn’t part of the network, it’s still worth checking whether they have a special arrangement with an Australian bank. This could mean you can use ATMs at zero or reduced costs, so it definitely doesn’t hurt to ask.
When using an ATM, always choose to be charged in the local currency. So in Perth, opt to be charged in AUD, and not in your home currency. Otherwise, chances are you’ll be paying more in fees to the bank and will receive a poorer exchange rate.
Spend every last penny before you depart
Do you still have any dollars after your trip? If so, it would be best to either keep them for the next time or sell them to a friend.
It’s likely that if you decide to sell back to a foreign exchange company, you’ll lose money because they frequently buy and sell currencies at different rates. Make smart financial decisions so you spend all of your AUD before leaving Australia to avoid having to pay two conversion fees.
Where to exchange money in Perth
There are several foreign exchange companies you can use if you’ve managed to avoid the airport and you’d prefer not to use an ATM. These include Redrate Exchange, Exchange Now, and UAE Exchange Australia.
Remember that there are always fees associated with foreign exchange transactions. Even though a business may assert that it doesn’t collect fees or commissions, it almost certainly factors its profit into the exchange rate. By comparing an organization’s exchange rate to the current mid-market rate, you can quickly determine whether they are providing you with a fair price.
|Currency Bureau||Address||Contact Information|
|UAE Exchange Australia||London Court 51/647-657 Hay Street Mall, Perth||+61 8 6212 5301|
|Redrate Exchange||55/188 Newcastle St, Northbridge||+61 08 9328 6699|
|Travel Money Oz||729 Hay St, Perth||+61 1300 426 997|
|Travelex||HSBC Building, 188-190 St Georges Terrace, Perth||+61 8 6141 5007|
Although it is simple to purchase Australian dollars for your trip to Perth, you must exercise caution if you want to get a fair value. Before choosing which company to hire, it’s important to compare the rate being given to the mid-market rate. The exchange rate will typically be better when cash is withdrawn directly from a reputable ATM operator rather than at an actual exchange office. Just remember to account for any applicable upfront costs.
Or, even better, utilize Wise to make the transfer beforehand if you or a friend have access to a AUD account in Australia. Wise not only converts your funds using the real mid-market exchange rate (which almost always outperforms banks), but your money will also be sent and received using local banks, bypassing those nasty international banking fees.