Supporters: where to get the best exchange rate before a trip to North America

Supporters often ask the same question before travelling abroad to attend a sporting event: how can you get foreign currency without being hit by poor exchange rates?

Between hidden bank fees, high airport exchange rates, and large commissions charged by some currency exchange offices, the total cost of an overseas trip can quickly add up if you make the wrong choice.

In this article, we explain everything you need to know to exchange your currency at the best possible rate before departing for North America.

 

Key takeaways

• Exchange rates, commissions, and hidden fees can significantly impact the total cost of an overseas trip, especially for large amounts. Comparing offers can often save you tens or even hundreds of Australian dollars.
• Planning your currency purchase before departure allows you to access better exchange rates, avoid airport exchange counters, and travel with greater peace of mind from the moment you arrive.
• Online currency exchange solutions generally offer better rates and lower fees than banks or traditional exchange offices, particularly for US dollars, Canadian dollars, and Mexican pesos.
• For a trip to North America, it is recommended to combine card payments and cash to easily manage everyday expenses, transport, and tips.
• A multi-currency card can be a convenient solution to reduce foreign bank fees while benefiting from more competitive exchange rates on international payments.

 

When you exchange currency, several factors directly affect the amount you receive after the transaction:

• The exchange rate applied
• The commission charged by the provider
• Any hidden fees

Even if the difference is sometimes only a few percentage points, it can have a major impact when exchanging large amounts.

For example, a 4% difference between two providers already represents AU$120 on a AU$3,000 budget. That’s money you would be better off spending at your destination.

The exchange rate is the rate applied when converting one currency into another. There are two main types:

• Interbank rate: the rate used on the foreign exchange market. It is the reference rate, accessible only to institutions, multinational companies, and investors.
• Retail exchange rate: the rate displayed by currency exchange providers. This is the rate you will be offered when exchanging money before a trip. It typically includes a margin of 2% to 10% compared to the interbank rate.

Currency exchange providers usually add a commission to the total transaction. This can be either a fixed fee or a percentage (often between 1% and 3%).

The commission can vary significantly and is often higher in tourist-heavy areas where demand is strong.

It’s important to check commissions carefully, as they can quickly increase the overall cost.

In addition to commission, extra fees may apply during your currency exchange. For example, banks may charge additional fees for overseas ATM withdrawals or card payments in foreign currencies.

These fees are often difficult to identify before the transaction but can quickly add up if you’re not careful.

We strongly recommend exchanging your currency before departing for North America for several reasons:

• Exchange rates change daily and can fluctuate significantly. Planning ahead helps you identify the best time to exchange your Australian dollars.
• You save valuable time by avoiding queues at airports, where exchange counters are often busy.
• Your trip becomes easier as you already have USD, CAD, or MXN available upon arrival.

If you’re unsure how much currency to exchange before your trip, don’t worry: our BuyBack guarantee allows you to sell back any unused currency after returning. We apply the same exchange rate as your original purchase, so you are not affected by market fluctuations. Convenient!

See also: How to estimate your travel budget?

Reserve your currency online

Enjoy the best exchange rates and 0% commission when booking your travel money online.

Exchange Currency

Between banks, exchange offices, and online currency services, it can be difficult to identify the most cost-effective way to obtain US dollars, Canadian dollars, or Mexican pesos.

Here is a comparison table to help you easily identify the best option:

	Online exchange service (ChangeGroup)	Physical exchange office	Bank
Exchange rate	Best rates	Good	High
Commission	0%	2%–10%	Around 10%
Fees	None	Medium to high depending on location	Often high
Collection/delivery	Free in branch or home delivery	Immediate in branch	Branch order required
Currency availability	Good for USD/CAD/MXN	Good for USD/CAD/MXN	Good for USD/CAD
Processing time	24 hours to a few days	Immediate in branch	1–5 days
Security	Excellent – supported by Prosegur, a leading security company	Good if reputable provider	Excellent

 

Depending on the destination country, card payments may be more or less widely accepted. However, for an international tournament, we recommend using a combination of both payment methods for maximum flexibility.

Cash is useful for certain expenses such as transport. In addition, tipping plays an important role in North America, so having cash on hand is essential.

For your next trip, make sure you have US dollars, Canadian dollars, and Mexican pesos on hand.

Simply use our online exchange service to reserve the currencies you need and benefit from our best exchange rates. Best of all, we remove all commissions. No hidden fees — you know exactly how much you will receive after exchange.

We also recommend using our multi-currency card to make card payments while travelling. You’ll benefit from even better exchange rates across all the currencies you need.

See also: How to get US Dollars at the Best Rate

Reserve your currency online

Enjoy the best exchange rates and 0% commission when booking your travel money online.

Exchange Currency