Best place to exchange money in Auckland? If looking for usd, and cad
Currency Exchange - for travel
Lmrmoustacheman on 28/10/2022 - 23:24
Comments
I second this. You dont need to convert to respected currencies. Wise will do it automatically.
if you have multiple currency, says NZD and australian dollars on wise. Which currency does it chose to convert ?
The one with the best exchange rate on the day
If you have currency loaded for the country you are in then Wise will use that first.
Otherwise it will convert other balances - I am presuming with any NZD first but don’t know for sure.
For me, I like to work out how much I want to budget for my overseas travel and then load that account with the amount. Makes it easy to see how much I’ve spent in each currency but you don’t have to.
If you have currency loaded for the country you are in then Wise will use that first.
Otherwise it will convert other balances - I am presuming with any NZD first but don’t know for sure.Sadly not, IME. When I've been in this scenario (with USD/EUR/NZD) Wise has always used NZD last. Wise does use the transaction currency first, but then goes for the other non-NZD balance/s. It didn't seem to matter how much, or what ratio, of each currency I had at the time, either.
For example: when I paid 100 AUD while having 20USD + 2EUR + 300NZD balances, Wise used up the USD and EUR balances before touching the NZD one. For a payment of 5EUR with 2EUR + 20USD + 10NZD balances, Wise used the EUR and USD balances.
@Detruire: Thanks. I haven't had this issue because I converted my currency in advance but good to know how it works if you don't have sufficient currency for the country you're in.
Go to TSB Bank and purchase cash
TSB is best rates?
Just one of the few banks left that deal with foreign currency. Currently in Hawaii and meet any OZ & Kiwi who have had probs with cards in ATM machines OR at EFTPOS. No problems when carrying ca$h…
You do need to be a TSB customer though.
Their website also indicates they are only doing a limited range of currencies.
I travel overseas quite often. For many years now I have just used my normal NZ money card, both debit and credit.
I get a couple of days or a weeks cash at a time (depending on what country I'm in) from an atm or use my cards as normal in shops and restaurants.
I spent quite some time working out all the fees/transaction costs of the different options and this way was no more expensive and far more convenient. And I'm tighter than a fishes butt lol.
You must let your bank know before you go so they don't cancel your card mid holiday. They can give you a list of which atms in that country don't charge extra fees, use those. And I only keep the minimum amount of money in the card accounts and transfer more as needed. As someone old enough to have used traveller's cheques life is a lot easier now!
Happy travelling to you.Thanks for your in-depth reply! I am a fan of using NZ cards as normal in shops and restaurants. And I usually have spare cash in case a credit card is not accepted.
I find that the fee for withdrawing cash in a different country can be unexpected and variable to amount and didn't want a nasty surprise!
how much cash are you looking for?
2-3k nzd
As other have said, probably the worst thing you can do is purchase USD and CAD cash while you are here in NZ. It really is an extremely expensive way of doing things.
Get a Wise Card and just load on the currencies you wish.
Cheaper than the banks and allows you to then use your card like a local when overseas.