Hi,
I have a couple of thousand canadian dollars in my account in Canada, which I want to take with me when I validate my trip next month. Should I carry them as cash and deposit them in an account once I reach Australia, or transfer them electronically to my / brother's account ? What will give a better exchange rate ?

Regards
Manumani

It is very foolish to carry cash around in such quantities. Either transfer it to your brother or to an account here you set up for yourself or just use credit card / ATM for your holiday. The difference in exchange rate is really not going to make much difference on a few k.

Transferring electronically will get you a far better exchange rate than dumping x thousand Canadian dollars at a foreign exchange desk in Oz and asking for Oz$.

Also much safer.

you also will need to declare to Customs if you physically bring in A$10,000+ equivalent in cash or other financial instruments (any currency).

He's only bringing in a couple of thousand so no need to declare!

"a couple of" has become an ambiguous phrase over de years.

Its worth noting that BE members can take advantage of free transfers.

http://exchangerates.britishexpats.com/

Transferring bank to bank is always the safest option.

You can use a company called Tranzfers for small amounts.

BB

Carry cash. Small, unmarked bills - ideally $20s & $50s and PM me the details of your flight. I'll meet you at the airport.