Why You Can’t Find an American Express (AMEX) Currency Exchange Store

various foreign currency notes

If you have used American Express in the past to buy some travel money, you might be wondering - why can't I find them anywhere?

Well, unfortunately, American Express has stopped buying or selling currency in cash. AMEX currency exchange closed their Australian stores. They also closed their wholesale division and no longer offer customers in Australia the ability to exchange currency in cash.

It happened a few years ago and it appears that they won't return.

 

Alternatives to American Express currency exchange in each city

There are dozens of currency exchange locations to buy travel money in Australia. Each has their own currency exchange rates which change constantly.

You also have the choice of more than 5 online currency exchange websites that offer collection or delivery.

Sydney

Surprisingly, even though there are more money changers in Sydney than any other city, the exchange rates aren't as competitive as Sydney or Adelaide.

In the CBD

There is a lot of choice in the city, particularly on George Street and Pitt Street. ANZ and Commonwealth Bank have foreign exchange outlets as well as more well know brands like Travelex or Travel Money Oz. The best place to buy foreign currency in Sydney though is through one of the less well known money changers like Crown Currency or WeXchange.

In the suburbs

There are plenty of stores in the suburbs but the rates aren't as competitive as the city.

For a full run down on the different places to buy foreign currency, check out our full currency exchange guide to Sydney.

Melbourne

Most of the best currency exchangers are near Flinders Street station on Elizabeth Street. The small money changers on Swanston street aren't as competitive.

Outside of the CBD, most of the money changers are based in shopping malls or strips. The rates aren't nearly as good as the CBD.

For a full run down on the different places to buy foreign currency, check out our full currency exchange guide to Melbourne.

Brisbane

Unlike Sydney or Melbourne, currency exchangers are scattered throughout the CBD and can be hard to find. Unimoni is in the ANZAC Square Arcade while the Travelex is inside a HSBC branch on Queen Street.

Outside of the CBD, Brisbane has lots of options. Crown Currency and Travel Money Oz both have lots of locations in major shopping malls.

For a full run down on the different places to buy foreign currency, check out our full currency exchange guide to Brisbane.

Adelaide

King William Street is where you need to go if you are heading into the city. Within 200 metres, you'll find the ANZ Foreign Exchange Centre, the Commonwealth Bank foreign exchange branch, 2 Unimoni stores, Travelex on the corner of Rundle Mall, 2 Travel Money Oz branches and WorldEx.

While the city has many options and some of the best exchange rates in Australia, there are much fewer options in the suburbs.

For a full run down on the different places to buy foreign currency, check out our full currency exchange guide to Adelaide.

Perth

All around the Perth CBD there are few reasonable options. There are 2 money exchangers in London Court, a couple in the Murray Street Mall and a Travelex on St Georges Terrace.

Outside the city, Exchange Now in Morley is the pick of the bunch although you'll have more options in Freo.

For a full run down on the different places to buy foreign currency, check out our full currency exchange guide to Perth.

Does American Express still do currency exchange at all?

No, not for foreign exchange banknotes and coins. They still offer their international money transfer services to some Australian businesses.

 

American Express currency exchange rates

So the exchange rates that American Express offer are not publicly available. This may be due to AMEX offering different exchange rates to different customers depending on their situation.