How to Find a Better Exchange Rate at Melbourne Airport

Quick Comparison from Cheapest to Most Expensive

We compared the 4 available options to purchase foreign currency at Melbourne airport and have ranked them for you:

  1. Ordering online through Travelex and paying by BPay is the cheapest option. This is because the online exchange rates are far better than at Melbourne airport and by Bpaying it, you avoid the 1% card fee. Please note that you need to order it at least 3-4 days in advance.
  2. Ordering online through Travelex and paying using a card was still the second best option despite having to pay the card fee. This isn’t a bad option if you need to buy currency at the last minute because you can order it today and pick it up tomorrow.
  3. ANZ had a better exchange rate over the counter than Travelex for a small amount of US dollars. This made it a cheaper option even including their 1% commission.
  4. The most expensive option is using Travelex in store. Even though they do not charge a commission, the exchange rate for US dollars was so low, it ended up being more expensive. Please note, they do provide better exchange rates though, for larger amounts.

Pre Order Currency & Pick Up at Melbourne Airport

Currency Exchange at Melbourne Airport

There are two ways you can change money:

 

1. Order your currency ahead of time and pick it up at the airport

This is by far, the cheapest way to buy currency at Melbourne airport. The exchange rates are much better than buying it over the counter.

It's really easy:

  1. Order your currency online and choose a pick up location as Melbourne Airport
  2. Pay for it using BPAY (and avoid the card fee!)
  3. Pick up your ordered currency

Please keep in mind, you'll avoid the card fee if you choose BPAY. The rate is locked in on the day you book the transaction. You can choose your pick up date but if you use BPAY, you'll need to allow at least 3 business days. Also, they offer a better rate for amounts above $2000 but have a maximum transaction size of $5000.

Order Currency

2. From a currency exchange store

Melbourne airport has 6 places you can buy or sell currency.

International travellers going to Terminal 2, have the choice of following money exchangers:

  • Travelex in the departures section on level 1, opposite check-in
  • ANZ in the departures section just before you get to customs just after the duty-free
  • ANZ in the departures section after you’ve gone through customs
  • Travelex on the lower (ground) level next to the Villa and Hut .
  • ANZ on the lower (ground) level directly opposite where international travellers exit customs.

For domestic travellers, there is a Travelex in the Qantas Terminal, just beyond security screening.

Pre Order Currency & Pick Up at Melbourne Airport

Tips to help you get a better rate

  1. 1

    Plan ahead

    The best exchange rates are usually online or in the city. If you plan ahead, you can compare exchange rates online or over the phone, find the best deal and arrange to either buy it in person or online (picking it up later).
  2. 2  

    Avoid the worst fees

    Travelex don't charge commission over the counter however their exchange rates are considerably worse than outside Melbourne airport. Online, they have a 0.8% card fee that Travelex apply to online transactions.

     

    If you are buying currency online, choose to pay through BPAY to avoid the card fee. Please note that if you are going to use this option you need to allow 3-4 business days before your trip to allow time to pick it up in time.

  3. 3  

    Buy abroad instead?

    In some cases, it is cheaper to buy your currency in the country you are going to rather than converting it before you leave. Good examples are Bali, Singapore and New Zealand (depending on where you go). Of course, it is a lot harder to find the best exchange rate when you are outside of Australia and you are running a higher risk of being scammed. As a rule of thumb, the further away you are travelling, the less likely you'll find better exchange rates overseas. This is because the further away from Australia you go, the less common Australian notes and coins are. As a result, they are also less likely to give you a good exchange rate.

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