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Aussie Dollars

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Australia
posts: 110
Aussie Dollars

As well as HKD and Credit Card I was going to carry a fair bit of Aussie Dollars and exchange there when necessary.

From the post below it seems I could run into problems with the Aussie Dollars

Any comments appreciated

masaloi

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C&P from Blister.

forget about the cash, just use a credit card for big buys and swap a little bit for the everyday things u need money for. ie drinks, taxi, food, train fare, etc. You wont need much unless u want to go night market shopping or eating on the street.

I found that i was getting a better exchange rate paying with a cc...as an example for 1 Aussie dollar I was getting 5.3HKD at the money exchangers, with my cc I was getting about 5.5HKD even after my bank charged a fee on the cash advance. At the banks it may have been better but I found a lot of banks did not accept or want to trade AUD (this happened to me twice at a Citibank and at another one i cant remember the name of in HK and once in China). I dont know what the Peso is trading at atm check ww.xe.com for that and guage it from there.

Brisbane
posts: 131
reviews: 1
1. Re: Aussie Dollars

I've never tried to cash Australian dollars, but I have seen some shops (mainly department stores) with a sign saying they accept them. The exchange rate is always displayed. Sorry, now I'm not sure if this was in Hong Kong or Singapore.

Make sure, if you want to exchange dollars you have a good look around as the hotels and banks won't give you a good exchange rate.

When I need cash, I always withdraw straight from an ATM and have never had a problem.

Hong Kong
posts: 6,583
2. Re: Aussie Dollars

The exchange rate various very much. I don't think merchants' rates are good. Banks, it depends on which one, I often use Hang Seng Bank as a reference, their rates are good among the banks, it's now 5.616, the webpage --

hangseng.com/hsb/eng/rate/hkdnotes/index.html

I guess your Aussie Dollars cash is for last resort. Use your HKD cash, and cards first.

Btw, coins of Hong Kong are in $10, $5, $2, $1, 50¢, 20¢, and 10¢. There are $10 notes as well as $10 coins. And don't be surprised if you see so many different designs and colours of notes in the same denomination.

Melbourne, Australia
posts: 31
reviews: 10
3. Re: Aussie Dollars

masaloi

there wont be any probs with the AUD if u can cope with the rates the money exchangers give you. It was just surprising to me that the banks didnt really want any part of the AUD. There are some that do but for convienience sake instead of trying to find a bank who will deal with you (wasting valuable time on yr hols) just use an atm that accepts cc or even maestro or cirrus

hotels will swap money for you as well.

Australia
posts: 110
4. Re: Aussie Dollars

Thanks for all responses.

You have convinced me to top up my CC with those Aussie dollars before I leave rather than take them with me.

I have already purchased HK currency and have noticed the differences in design and colour which I believe is because you have a number (3) of different issuing authorities....3 different banks.

What we will need to concentrate on is the numerals in the corner..shouldn't be any problem.

The main thing it seems is to convert to smaller denominations...downsize the Thousands especially.

Hopefully this can be done at the airport or similiar.

We are looking forward to an exciting and delightful time as relatively seasoned travellers though have not visited HK since 1969.

Had a close experience in NY/USA in 2003 with shady merchants and trust I have learnt a lot from that.

Thanks to all

See ya soon

masaloi

AUSTRALIA

Shanghai
posts: 835
reviews: 1
5. Re: Aussie Dollars

Why carry cash and put yourself at risk.

Top up you Aussie debit card, ring your bank and tell them you are travelling to HK.

Then withdraw what you need from an ATM when you need it....they are everywhere.

You will find the best rate in the long term is the exchange rate using you direct debit or Visa.

If your so worried about the use of your card,apply for a totally new card account and use it exclusively on the trip.

In HK a stolen card can be cancelled in minutes.Stolen wallet full of cash is gone.

Canberra Australia
posts: 3
reviews: 1
6. Re: Aussie Dollars

My family and I have just returned from HK. Our experience indicates that you will get a better rate in Australia if you are to purchase your HK $$ before you leave. For example we got a rate of 5.6 for 1 but could do no better than 5.1 to 5.2 when over there.

There is always the problem of carrying so much money if you do change it before leaving and so I would also rely on using ATMs.

If you do need to exchange AUS $$ when in HK you won't have any problems at hotels - the rates just are not as competitive.

Have a great trip.

IWS

Australia
posts: 34
reviews: 7
7. Re: Aussie Dollars

If my memory serve me right - everytime I withdraw cash at ATM in HK; my Australia bank charge me A$5 for each transaction plus of course the amount in Australian dollar based on exchange rate on the day.

So I usually took couple of thousands of HK dollar in one hit rather than hundreds.