Best places to exchange currency in Melbourne

If you're planning a trip to Melbourne, it's important to know how to get the currency of the country you’re visiting. Also, you might want to know the current exchange rate and the best places to withdraw cash.

So, in this article, we’ll show you the best places to visit to exchange currency in Melbourne, and we’ll show you an alternative, Wise – which may be cheaper and help you save the effort of going to a physical location – but more on this later.

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Australia: currency overview

First off, in case you’re wondering something along the lines of “does Australia use Australian dollars?”, the answer is yes. The currency in Melbourne — and the rest of Australia — is the Australian dollar.

You can also find it written as AUD in currency exchange shops.

Check out today’s rate below:

What you should know about exchanging money in Melbourne

Before exchanging money in Melbourne or any foreign city, it's important to be informed to avoid excessive charges and get the best deals. Consider opening a bank account in Australia for long-term stays or substantial investments like buying property or cars.

Beware of 'zero fee' services

Services claiming 'no commission' often offer poor exchange rates, not reflecting the mid-market rate, leading to hidden profits for them.

Check the exchange rate beforehand

Familiarize yourself with the base rate to identify a bad deal from exchange services.

Avoid exchanging money at airports or hotels

Convenience comes at a price, as airports and hotels usually offer poor rates and high transaction fees.

Use ATMs strategically

Check if your home bank has partnerships with Australian banks to avoid extra ATM fees, and inform your bank before traveling.

Opt for local currency

When using an ATM abroad, choose to be charged in Australian dollars for a fairer rate and avoid undisclosed exchange rates and additional fees.

Exchange money in just a few clicks with Wise

Say goodbye to overcomplicated currency exchange.

Wise can help you get a better deal on currency conversion in over 40 currencies, with the mid-market exchange rate and low fees.

Open a personal Wise account online or in the Wise app, and order a linked debit card for a one-time fee to spend and withdraw money in 150+ countries.

There’s no fee to spend any currency you hold, and no foreign transaction fee to worry about.

Use your account when you travel or shop online in foreign currencies, send payments in 70+ currencies, and get your own local bank details in 9 currencies.

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Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

Where can you exchange currency in Melbourne?

Well, we’ve already been through some of the options you have and aspects to watch out for. So if you’re still into the idea of carrying cash around and exchanging it, here are some popular foreign currency exchange locations in Melbourne.

One last reminder, though: there’s no such thing as fee-free or 0% commission foreign exchange transactions. So, always check the mid-market exchange rate in advance, so you know how much your money’s worth.

United Currency Exchange

Locations

United Currency Exchange offers three locations in Melbourne.

Locations	Phone Number
272 Lonsdale Street (opposite Emporium Shopping Centre)	03 9042 4572
QV Melbourne, Shop QVA01, Ground Floor (Corner Swanston & Lonsdale Street)	03 9671 3993
Ground Floor, 228 Flinders Lane (next to Melbourne East Police Station)	03 9077 1720

Opening Hours

• Lonsdale Street - Mon-Fri 11:30a-6:00p, closed on weekends
• QV Melbourne - Mon-Fri 9:00a-9:00p, Sat-Sun 10:00a-8:00p
• Flinders Lane - Mon-Fri 10:00a-8:00p, Sat-Sun 10:00a-6:30p

Travelex

Locations

Travelex offers 5 locations in Melbourne, 3 of them inside HSBC banks. See their website for HSBC branch locations.

Locations	Phone Number
c/-Australia Post, 250 Elizabeth Street, Melbourne, 3000	(03) 9654 2526
261 Bourke Street, Melbourne, 3000	(03) 9654 4222

Opening Hours

• Australia Post Branch - Mon-Fri 8:30a-5:30p, Sat 9:00-5:00p
• Bourke Street - Mon-Fri 9:00a-5:00p, Sat 10:00-4:00p

Travel Money Oz

Locations

Offering 6 locations throughout Melbourne including several shopping centres. Check out Travel Money Oz’s Melbourne Store Locator for the closest store to you.

Phone Number

1300 426 997 (general help line)

Opening Hours

All stores are open seven days a week. Check individual branch for more details.

Bottom line

As you can see, there’s no shortage of options when it comes to exchanging money in Melbourne. Don't forget to do your research on the exchange rate before converting your money, and check Wise out if you want a fuss-free alternative to exchanging cash.

Learn more about Wise