I have been through some fair number of cities in the world and i have never expereinced such shameful situation where Money Changer charge you exobitant fees in Melbourne, especially Flinders street. I asked them to change a US$100, at the rate of 0.936, which could have got me AS107. They charged me another extra fee on top of the buy and sell rate margin they can make to cover their cost. The money changer gave me A$93 and i asked what was the matter, and he told me that, it was his fee. I was taken aback because, i felt cheated upon. I happen to have brought a lot of US dollar from home, so i did not have any choice but to change the money at a loss. I tried the Commonwealth Bank on Flinders street and the same thing happened, they charged me a fee of $10 dollars. It is a rip-off when you look at it, they have a buy rate and a sell rate displayed on the screen, and as a Banker myself, that margin is their income for exchanging currency. I have travelled several countries around the globe and i have never come across such a situation, where you get ripped off by Money Changers. This was my first trip to Melbourne and i felt insulted by such practice.
I had terrible experiences with Cab drivers in Melbourne too. You can stand in a cue waiting for them and when your time finally comes to get into the cab, they ask you where you are going and if it is a close distance they tell you to get on the next one. They want big bucks to take people around.
If you are planning on coming to Melbourne, make sure you change Aussie dollers in your home country because you will be getting ripped off when you come into Melbourne. As for Cab drivers, my suggestion is you get to know the public transport system and get on it., it is very effective.