The Best Places for Currency Exchange in Melbourne

Find out how to get the best money exchange rates in Melbourne without
running around from store to store.

Most of the places to exchange currency closed in the Melbourne CBD. When borders open again, more options will become available but in the meantime, there are still some good stores left. 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 in Melbourne

So which is the best place to buy foreign exchange in Melbourne?

Well, it really depends on your situation. Here are our top currency exchanges in Melbourne:

  1. S Money for the best exchange rate 
  2. United Currency Exchange for no fees
  3. Crown Currency- for larger amounts over $10,000
  4. Travelex Online for Melbourne Airport
  5. Travel Money Oz for less common currencies

S Money is an online only currency exchange, so they don’t have any bricks and mortar stores. If you order online, you can pick up your currency or have it delivered to your door. They are the only money exchange that offer the same exchange rate seen on Google or XE but they do charge a service fee.

Location

Online. Available throughout Australia, including Melbourne

Opening Hours

4:30am - 11pm for orders Monday to Friday. 9am - 5pm for deliveries to door Monday to Friday

Phone Number

1300 50 10 80

What they are good for

S Money sell currency at the best exchange rates for buying US Dollars, Euros, British Pounds, Japanese Yen or New Zealand Dollars up to $8500.

United Currency Exchange have 2 locations in the city. They don’t charge any commissions or service fees to buy or sell currency.

Location

2 shops in the QV Building, Melbourne

Opening Hours

10am to 5.30pm Monday to Friday

What they are good for

They offer excellent service over the counter and you can usually negotiate a better rate if you are buying more than $1000 worth of foreign exchange.

When you should avoid them

While their exchange rates are very good, they still won’t match the rate seen on Google or XE. They also have a dated website that only allows you to get a quote instead of actually buying currency.

crown currency
Crown Currency

Crown Currency have a number of locations across Victoria. They have both retail and wholesale currency exchange services however you cannot buy currency from their website. Like Travel Money Oz, they don’t show their exchange rates online. You either need to call the store or physically walk into the store and ask for a quote.

Location

There are 7 Crown Currency locations in Melbourne with more to come.

Opening Hours

9am to 5.15pm Monday to Friday

What they are good for

Crown Currency are particularly competitive for larger amounts over $10,000. You can often negotiate much better exchange rates and they have a good amount of stock for these larger transactions, particularly of the most common currencies.

When you should avoid them

If you’d prefer to order online, then Crown Currency isn’t for you. They also don’t offer the best exchange rates for exotic currencies like Canadian Dollars or Vietnamese Dong.

Travelex have many locations in the Melbourne CBD and across the greater Melbourne metro area. You can order online and collect your currency at a store, an Australia Post office or even the airport. They also offer delivery for online orders.

Locations

3 in Melbourne CBD and 5 outside of the CBD

Opening Hours

10am to 4pm - Monday to Friday

What they are good for

Travelex are a good option if you like to buy currency online and pick it up at the airport. Their online exchange rates are much better than their own stores.

When you should avoid them

While their online rates are good, the exchange rates and the airport border on criminal. Avoid buying or selling currencies at these stores in-person if you can.

The exchange rates you see on the Travelex website are for online orders only. Rates in person are different from store to store but in Melbourne, the branch on Bourke street is your best option.

Travel Money Oz have used to have a few stores in the Melbourne CBD and across the greater Melbourne metro area. They are owned by the Flight Centre, which has shut down a lot of stores due to Covid. They have temporarily shut all stores until international travel resumes.

Location

Online only

Opening Hours

According to their website "We cannot facilitate any foreign currency cash transactions at this time, this includes exchanging foreign currency into Australian Dollars."

What they used to be good for

Travel Money Oz have a good stock of currency. This means if you are looking for a less popular currency like Fijian Dollars (FJD) or Singapore Dollars (SGD), they are more likely to have some in store.

When you should avoid them

If you are looking to buy more popular currencies like US Dollars (USD) or Euros (EUR), there are options both online and in-store with better exchange rates.

The exchange rates you see on the Travel Money Oz website are for online orders only. Rates in person are different from store to store but in Melbourne, the branch on Swanston street near the corner of Collins was one of the most competitive.

Conclusion

So while S Money may have the best exchange rates, they aren’t the best option if you prefer a bricks and mortar store. If you are heading into a store, remember to:

  • Call ahead if you can to get a quote but also make sure they have your currency in stock
  • Ask for a better rate if you are buying more than $1000
  • Compare their rates to what you can get online

Avoid getting ripped off on currency will let you spend more money on your trip!