Why the Exchange Rates on TV are different to what I get?
Wake up in the morning, see the TV broadcast Aussie Dollar exchange rates against US Dollar or other currencies. Do you wonder why the exchange rates are different to what you get in our store?
Well, the simply answer lies to the whole sale rates vs retail rates.
The rates you saw on TV are available to large companies or financial organisations buy and sell millions of dollars of foreign exchange. The rates you get from us is the local banks and foreign exchange retail companies charge to individuals to buy and sell foreign currency.
What do BUY and SELL mean?
If you have Domestic currency (Aussie dollar) and willing to exchange to foreign currencies, then we SELL you the foreign currency. So you should look at the SELL rates.
If you have foreign currencies and willing to exchange to Domestic currency (Aussie dollar), then we BUY the foreign currencies from you. So you should look at the BUY rates.
What’s the Fees and Commission?
At Sydney Currency Services, we do not charge any fees or commissions for your exchange.
However, many other foreign exchange service providers will add their own fees or commission of top of their exchange rates. So you should find out if there is any extra charges before you do the transaction.
