How to Exchange Currency Cheaply When Moving to Australia

Flat lay with smartphone showing currency exchange app, foreign banknotes, and Australian visa

One of the smartest financial moves you can make before relocating to Australia is exchanging your currency at the best possible rate. Avoiding hidden fees and poor exchange rates can save you hundreds of dollars.

1. Don’t Exchange at the Airport

Airport exchange counters often have the worst rates and high commission fees. Avoid them unless absolutely necessary.

2. Use Online Currency Exchange Services

  • Wise: Mid-market rates and low transparent fees.
  • Revolut: App-based exchange with no markups on weekdays.
  • OFX: Great for large transfers with no transfer fee over certain limits.

3. Prepare Before You Arrive

  • Download and set up your preferred app (Wise, Revolut, etc.)
  • Verify your identity before departure
  • Convert and hold AUD digitally until you need to withdraw locally

4. Compare Exchange Rates

Always compare rates between apps and local money changers using tools like Google Exchange Rate or xe.com

Smart currency exchange is part of smart migration. Don’t let poor planning cost you more than it should.

Tags: Finance, Money Tips, Moving to Australia





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