Foreign Currency Exchange | GWK Travelex (2024)

FAQs

Is Travelex good for currency exchange? ›

While using a Travelex Money Card incurs zero Eftpos, ATM, or currency conversion fees, that doesn't mean it's the best deal out there. Even with the Money Card, you'll still get the Travelex exchange rate markup, which means you'll receive an unfavourable rate that is nowhere close to the mid-market rate.

Head to your bank or credit union before you leave to avoid paying ATM transaction costs. You may even receive a better exchange rate. Credit unions and banks will exchange your dollars into a foreign currency before and after your trip when you have a checking or savings account with them.

Best place to exchange currency: Your bank or credit union

Many banks offer currency exchange to their customers. Though there may be a small fee if you exchange less than a certain amount, your bank or credit union will almost always be the cheapest place to exchange currency.

Formerly part of now-defunct Finablr, Travelex's fortunes quickly turned due to the coronavirus pandemic and a cyberattack that forced it to temporarily disable its systems. It then went through a pre-pack administration that led to more than 1,300 job losses and saw its creditors seize control.

In-Store: FREE for top-ups of foreign currency (top-ups of AUD incur a fee of 1.1% of the amount or $15 whichever is greater). BPAY: Top-ups not made via travelex.com.au or the Travelex Money App incur a fee of 1% of the amount. - Funds will be allocated to your default currency.

It's always worth shopping around for a range of quotes, but an international money transfer specialist is generally the best place to exchange currency because it deals in huge volumes of money every day, meaning it has the economies of scale to offer the most competitive FX rates.

Currency exchange shops and kiosks in airports are not the best places to exchange money. For the best rates, try a local bank or a bank ATM to make your currency exchanges. Check to see if your U.S. bank offers foreign ATM fee refunds for using a foreign ATM.

Bank of America: Customers of Bank of America have online and telephone exchange options for up to $10,000. Additionally, branch locations accept orders that total over $10,000. Currency exchange is free, but there is a $7.50 shipping charge if you want your order sent home.

Who has the lowest fees for currency exchange? ›

Local banks and credit unions usually offer the best rates.

We operate around 800 Travelex ATMs across the world. Our ATMs allow customers to purchase foreign or local currency simply by using their card. This self-serve option provides exchange rates displayed on screen and currency that is dispensed in less than a minute.

Travelex pioneered foreign currency ATMs in Australia, with the launch of our first ATM back in 2009 at Brisbane Airport. We now have ATMs all around Australia that provide foreign cash currency for travellers departing Australia.

Ordering currency from your bank before you travel is almost always better than using the airport currency exchange. Sally French is a travel rewards expert who joined NerdWallet in 2020.

Local banks and credit unions usually offer the best rates.

Are Travelex suitcases durable? Yes, the suitcases are durable and made of polypropylene, which is resistant to scratches and damage from any bump or fall.

Travelex in the USA

You'll find us in hundreds of locations across the USA, and you can either visit our store locator to find your nearest one or take a look at our list of stores by state for more details.