Founder
Justin Rampono
Articles written by Justin Rampono
Taking Cash Out of Australia: How Much Is Too Much?
Are you heading away on a big holiday abroad, or moving overseas, and are unsure how much money you can actually carry out of Australia? The good news is there’s no limit to how much cash you can take out of, or into, the country. But while you can carry unlimited sums out of Australia, you may have to declare amounts with a combined worth of AU$10,000 or more. Important read: While we try to keep this info as accurate and up to date as possible, it’s general information only. Please remember we don’t provide financial or legal advice. Australia […]
3 Significantly Better Options to Currency Exchange at Sydney Airport
Currency exchange at Sydney Airport can be a real rip-off. If you are exchanging a small amount under $200, you could lose up to 30% of your money in loaded exchange rates and money changer fees. There are only 2 money exchange options at Sydney International Airport – ANZ or Travelex. If you are already at Sydney Airport, then these are your only 2 options. If you have time to sort out your travel money before you go to the airport, here are 3 better alternatives: Order online before you head to the airport Head into a store or a […]
The Australian Dollar motors to a 21 month high over the weekend
The Australian dollar moved higher over Friday and Saturday, pushing to a 21-month high against the US dollar. Once again, the move higher was driven largely by a weaker US dollar. So how does it work? Well, if the US dollar weakens and the Australian dollar remains the same, then the AUD/USD exchange rate goes higher. The opposite is true too. If the US dollar gets stronger and the Australian dollar doesn’t change, then the AUD/USD rate will fall. In this case, the US dollar has been falling for 4 straight months. This is a big change from earlier in 2020 […]
Tax on Currency Exchange for Travel Money and Travellers’ Cheques
If you want to exchange large amounts of money for your trip abroad, it’s natural to wonder whether you’ll be taxed and whether it’s better to exchange your foreign currency overseas. The good news is that in Australia, you don’t have to pay tax on currency exchange if you’re simply buying foreign cash for a holiday. That’s because the transaction is a one-off and the money you’re buying is for personal use. But it depends on the circumstances around your foreign exchange. There may be a small tax just on the service fee or commission. And if you’re buying traveller’s […]
Why You Can’t Find an American Express (AMEX) Currency Exchange Store
If you have used American Express in the past to buy some travel money, you might be wondering – why can’t I find them anywhere? Well, unfortunately, American Express has stopped buying or selling currency in cash. AMEX currency exchange closed their Australian stores. They also closed their wholesale division and no longer offer customers in Australia the ability to exchange currency in cash. It happened a few years ago and it appears that they won’t return. Alternatives to American Express currency exchange in each city There are dozens of currency exchange locations to buy travel money in Australia. […]
The 5 Best Options to Take Money Overseas
In all likelihood, you’ll need access to the local currency while overseas. But whether you choose to pay with a credit, debit, or travel card, or whether it’s better to use cash, depends entirely on where you’re going and what you plan to do while you’re there. Some countries like Sweden operate nearly exclusively in plastic payments while others, like Vietnam, have an almost entirely cash-based economy. So what’s the best money option while travelling overseas? It could be using travel money, a prepaid travel card, or a debit or credit card, depending on your destination and itinerary. We recommend […]
