Places to change money in Perth and what to watch out for

Perth is one of the most isolated cities in the world. This also contributes to its unique culture and some of the best beaches (and weather) in the country. Swimming in the Indian ocean and walks through the bush are free for all, but for the experiences which cost, you’ll be needing some Australian Dollars.

Let’s take a look at some of the places you can convert your money into Australian Dollars in Perth.

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Where to exchange money in Perth

If you’ve managed to avoid the airport, and you’d rather not use an ATM, there are various foreign exchange companies you can use. These include Travelex, S Money, Exchange Now and Redrate Exchange.

Keep in mind that there's no such thing as a fee-free foreign exchange transaction. While a company may claim it doesn’t charge fees or earn a commission, it probably builds its profit into the exchange rate.

You can easily measure whether a company is offering you a fair deal by comparing their exchange rate to the live mid-market rate you see on Google.

Here below are some of the main money exchange companies in Perth. You can click on them to see the rest of their stores in the region.

Things to know before exchanging your money in Australia

Before exchanging your currency to AUD, first take the time to learn about exchange rates. Here are a few helpful facts that you can keep in mind.

About the Australian Dollar

The Australian Dollar is a completely free-floating currency, so its value can go up or down. Many factors can affect an exchange rate, such as inflation, interest rates, economic and political changes.

To keep track of movements in the exchange rate, you can sign up for exchange rate alerts. That way, you can time your purchase so you’ll get the best possible deal on your exchange.

Always check the mid-market rate

The Australian Dollar’s value fluctuates depending on supply and demand. But you can still tell if you’re getting a fair deal by comparing the exchange rate you’re offered to the mid-market rate.

To ensure you receive the best conversion rate in Perth, keep a close eye on the rates by checking the Wise currency converter. Compare the offered tourist rates to mid-market, and also take into account any upfront fees charged.

Airport and hotel currency exchanges

It’s advisable to avoid exchanging money at airports and hotels as the rate offered is rarely fair. If this is a necessity though, there are several locations around Perth Airport where you can buy Australian Dollars.

International foreign exchange company Travelex runs several foreign exchange kiosks as well as a number of multi-currency ATM machines around the airport. Kiosks are open throughout the flight schedule, 365 days a year.

You can find more information about the kiosk and ATM locations at Perth Airport here.

Many hotels around Perth also offer foreign currency exchange services. But just like airports, hotel exchange rates are rarely (if ever) a good deal. So, try to avoid this option unless absolutely necessary

ATM withdrawals

You can sometimes get a better exchange rate from an ATM than you'd get using a foreign exchange service, provided you look out for any applicable fees.

Westpac, one of the largest banks in Australia, has several ATMs around Perth. As part of the Global ATM Alliance, they offer fee-free withdrawals to customers of other banks in the alliance.

If your home bank isn’t part of the network, it’s still worth checking whether they have a special arrangement with an Australian bank. This could mean you can use ATMs at zero or reduced costs, so it definitely doesn’t hurt to ask.

Withdrawing cash directly from a trusted ATM operator may result in a better exchange rate than at an in-person exchange office. Just be sure to take into account any fees your bank or the ATM service provider may charge for that transaction.

Wrapping up

While buying Australian Dollars for your trip to Perth is quite easy, you’ll need to be careful if you want to get a good deal. The key is to compare the rate you’re offered to the mid-market rate before you decide which company to use.

Withdrawing cash directly from a trusted ATM operator may result in a better exchange rate than at an in-person exchange office. Just be sure to take into account any fees your bank or the ATM service provider may charge for that transaction.

Give Wise a try

Wise offers easy solutions for avoiding hidden foreign transaction fees and unfair exchange rates — with the Wise Account and the Wise Debit card.

Not only can you use your Wise Account to hold and convert 150+ currencies, but you can order your own Wise Debit card to connect to your Wise Account and spend online or overseas at the mid-market rate — just like the one you see on Google.

Forget unexpected international transaction fees or high conversion rates, say hello to the world with the Wise Account.

Safe travels.

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