Bank of Queensland Exchange Rate Calculator
BOQ offers different foreign exchange rates depending on what you need to do, but it can be confusing. Use the calculator below and find out what your exchange rate will be when you buy/sell foreign currency in cash, transfer money overseas or receive money into your account.
BOQ Foreign Currency Exchange Rates for Travel Money
Compare Bank of Queensland exchange rates to other banks and foreign exchange services
BOQ Exchange Rates Explained
When you look at the Bank of Queensland exchange rate table, it’s easy to get confused. This is because exchange rate you receive will depend on a few things:
- The currency you need
- If you want to buy or sell the currency
- The type of transaction. Do you need foreign currency in cash or are you transferring money overseas to another bank account?
How the BOQ exchange rate table works:
First, work out which exchange rate column relates to your situation.
- Buy Foreign Cash: If you need to buy foreign currency in cash (notes and coins)
- Sell Foreign Cash: If you need to sell foreign currency in cash (notes and coins)
Next, you need to find the right currency code. Each line in the table relates to a different currency. For example, if you're heading to the UK, you only need to look at the exchange rates for the British Pound (GBP).
Also, take into account that the Euro (EUR) is the currency used in a number of countries within the European Monetary Union (or EU), including places like France, Germany, Italy and Spain. If you're not sure what currency you’ll need for the country you're going to, check out the full list here.
Do you mind the gap?
The exchange rates that Bank of Queensland offer aren't the same market rates you can see on online currency converters or Google.
To find a better rate, compare exchange rates before you travel or transfer money overseas.
Bank of Queensland Currency Exchange
The exchange rates in the "Buy Foreign Cash" and "Sell Foreign Cash" columns are the rates you'll get when you want to exchange currency for personal or business travel.
How to Buy Foreign Exchange: Currency in Cash
BOQ branches don't hold any stock of currency so you have to order your currency and pick it up at a branch.
You can either order your currency online or at a branch. It's fee free to order online but if you pay by card, surcharges apply.
What currencies BOQ Foreign Exchange sell
Bank of Queensland sell most major currencies (over 50 in total).
Bank of Queensland International Money Transfers
An international money transfer from the Bank of Queensland requires an online account with the bank. All you need to do is follow directions after logging in to send money to dozens of countries.
The BOQ also offers may other personal banking and business services, so it may be the right place for you to send international payments and do your everyday banking.
How It Works
An international money transfer is a payment to an individual in a foreign country. The money is transferred using the latest currency exchange rate. The Bank of Queensland can send overseas transfers directly to a beneficiary’s bank account. The receiver can’t pick up money at a retail location.
You need to have a Bank of Queensland account to send or receive money. You can set up an account online by visiting the bank’s online help centre.
The maximum amount you can transfer: The limit for one money transfer is $250,000 Australian dollars or the foreign equivalent. International money payments are part of the Daily Pay Anyone limit, and that limit depends on the customer’s Daily Limits package.
The minimum transfer amount is $100 Australian dollars or the equivalent in the foreign currency.
How Much Does It Cost?
You can send an international money transfer over the internet or at a Bank of Queensland branch. The flat rate fees are $20 for online transfers, $35 for transfers requested at a bank branch and $15 for international drafts. The fees are the same regardless of destination country or amount sent.
There is a $25 cancellation fee for stopping a transfer after it’s been requested.
What Exchange Rate Will I Get?
The rates offered by Bank of Queensland fluctuate according to market conditions. Generally speaking, BOQ offers better rates than large banks (Citibank, HSBC, etc.), although their rates may not be as good as small, overseas money transfer services. Learn as much as you can about how a currency exchange works before going through with your transaction.
Visit the Bank of Queensland website for rates on travellers’ cheques, notes and selling drafts. Rates are periodically updated on the bank's site, but the rates are shown, although recent, may not reflect up-to-the-minute changes.
The chart doesn’t include rates for foreign telegraphic transfers since the bank calculates rates when the transaction occurs. Talk to a bank representative over the phone or at a branch for the most up-to-date information.
Since exchange rates are subject to change at any time, the BOQ website provides periodically updated rates.
How Do I Send or Receive Money from Overseas?
Once you’ve set up an online account, follow the screen directions to send or receive payments. You will need to use an International Bank Account Number (IBAN) and the correct beneficiary information. You’ll also need a BOQ Security Token and an account that’s registered to perform International/RTGS Payments. Use a currency converter before submitting your request to get the best rate.
Review all information before you send it to prevent delays.
An international payment request received by Treasury and International Operations before the cut off time is sent on the same day. Requests received after the cut off time are sent the next business day.
After BOQ sends the currency, funds are usually received by the beneficiary in one to three days, depending on the country, the overseas bank processing the transfer and the receiving country’s time zone. India and a few other countries normally take longer than one to three days to process international money transfers.
Gather all the details you can about rates and the best way to transfer money before you decide on an overseas transfer service.