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-   -   Should I use Bank or Foreign exchange company (https://britishexpats.com/forum/australia-54/should-i-use-bank-foreign-exchange-company-744945/)

jovipk Jan 14th 2012 1:59 pm

Should I use Bank or Foreign exchange company
 
Hi,

Can anyone suggest which one to be used for foreign exchange conversion in Melbourne, Bank or any foreign exchange company in terms of best rates with less commission. Really appreciate if some names are also suggested for said.

Thanks!

renth Jan 15th 2012 6:04 am

Re: Should I use Bank or Foreign exchange company
 
I always use Ozforex, they are very good.

harrip Jan 15th 2012 6:28 am

Re: Should I use Bank or Foreign exchange company
 

Originally Posted by jovipk (Post 9841879)
Hi,

Can anyone suggest which one to be used for foreign exchange conversion in Melbourne, Bank or any foreign exchange company in terms of best rates with less commission. Really appreciate if some names are also suggested for said.

Thanks!

Do you mean for the exchange of cash or via a bank account?

jovipk Jan 15th 2012 9:35 am

Re: Should I use Bank or Foreign exchange company
 

Originally Posted by harrip (Post 9842804)
Do you mean for the exchange of cash or via a bank account?

Exchange of cash.

Buzzy--Bee Jan 16th 2012 5:45 am

Re: Should I use Bank or Foreign exchange company
 

Originally Posted by jovipk (Post 9843003)
Exchange of cash.

If you have a large amount I recommend ozforex, I have used them many times. If you have a smaller amount they have a sister company called Tranzfers.

BB

comet555 Jan 16th 2012 5:52 am

Re: Should I use Bank or Foreign exchange company
 
I've done it both ways (from Canada mind you) and the bank has always taken longer and cost more. So for me, I'd never use a bank again.

Currency exchange companies offer far more competitive rates. We have used Ozforex a few times and it was very easy and the rates were always good. As the others have said Tranzfers do smaller amounts (less than 5,000) and Ozforex amounts larger than that.


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