Just landed - wondering what gives the better rate in Australia: ATM withdrawal or airport exchange counter?
Landed in Perth last week and tried to avoid the airport exchange counter, but curiosity got the better of me. They were giving something like 1.34 AUD per USD, which was way below the live rate. I withdrew 300 AUD from a NAB ATM using my Indian HDFC card later that afternoon and got a significantly better exchange rate. Even with a small fee and FX charge, it was cheaper than the airport. I now always look for bank ATMs from Westpac, NAB, ANZ, or Commonwealth and avoid those currency kiosks unless absolutely necessary.
Just arrived in Brisbane and needed to pay for a taxi, so I used a currency exchange kiosk inside the airport. The rate was awful and they charged a service fee on top. I only got 135 AUD for 100 GBP. The next day I tried an ANZ ATM in South Bank using my Irish Visa debit card and got around 149 AUD for the same amount after all fees. Massive difference. ATMs are much better for value in Australia. Just make sure your card works internationally and that you decline the ATM’s own conversion when prompted.
I was in Melbourne earlier this month and tested both. I exchanged 100 USD at the airport booth and then withdrew 100 AUD from a Commonwealth Bank ATM in the CBD using my French BNP Mastercard. After checking my bank app, the ATM gave me the better deal by far nearly 10 percent more. The exchange counter at the airport also charged a commission I didn’t see until it was too late. Since then, I’ve stuck to ATM withdrawals and only make sure to say no to conversion when the screen asks. That trick alone saves you a chunk every time.
I just landed at Sydney International Airport and needed some cash fast, so I exchanged 100 euros at the airport Travelex counter. Big mistake. The rate was way off, I got around 144 AUD when my Revolut app showed I should’ve received closer to 160. A few hours later, I withdrew from a Westpac ATM in the city using my UK Visa debit card, declined the ATM conversion, and got a way better rate, even after a 3 AUD local fee. If you're just arriving, only use the airport counter for small emergency amounts. ATMs in Australia almost always give better rates.