Unbeatable Guide to Avoiding Fees When Buying Currency in Auckland

View of Auckland at DuskThere are many places for buying currency in Auckland, New Zealand’s capital, but we’ve put together a short guide to show you the best ones out there, so you can get more value for your money. When it comes to currency exchange in Auckland there are a few things to consider.

To compare banks and currency exchange providers, use our comparison table.

Here are a few places, other than the banks, that can help with currency exchange in Auckland.

Travel Money NZ: g3/239 Queen St, Auckland, 1010, New Zealand

Travelex Foreign Exchange: Brookfields House Level 14/19 Victoria St W, Auckland, 1010, New Zealand

Lidong Foreign Exchange:1 Kent St, Newmarket, Auckland 1023, New Zealand

No1 Currency: Shop 403, Pakuranga Plaza, Pakuranga, Auckland 2010, New Zealand

City Forex NZ (Western Union): 44-52 Wellesley St W, Auckland, 1141, New Zealand

You can also read our ultimate guide for currency exchange here.

What will this guide cover?

This guide aims to help you understand everything you need to know about currency exchange in Auckland. It will cover:

  • Exchange rates and fees
  • Compare exchange rates
  • Ordering online versus coming into the city
  • Tips to save more money and get a better exchange rate

Exchange rates and fees

When comparing each currency exchange rate, it is impossible to find a single place that has the best exchange rate and lowest fees for every currency or amount. As currency exchange depends on these two factors, you will have to shop around. However, a few key facts:

  • Foreign exchange rates in Auckland are better than money changers if you are buying major currency such as US Dollar, Euro, or Japanese Yen.
  • Many places will either have limited or no stock on other, less popular, currencies. It is better to order your currency online, as you will have more access to a variety of currencies, all at better exchange rates.
  • Fees vary from place to place but expect to pay anything from a $10 flat fee to a 1% commission. Some places will have no fees.

Compare exchange rates for currency exchange in Auckland

Currency Exchange NZD-USD Cost to buy 1000 USD
No1 Currency 0.6400 $641.00
City Forex NZ 0.6994 $699.40
Travel Money NZ 0.6843 $684.30
Travelex Foreign Exchange 0.7067 $706.70
ANZ 0.7299 $729.90
Westpac 0.7023 $702.30
HSBC 0.7199 $719.90

All rates were collected on the 12th January 2017.

  • TIP: Visit some of the recommended places in-store to view their exchange rates. The above rates are all from online.

Ordering online versus coming into the city

For less common currencies and smaller amounts, we found it easier and cheaper to order it online through either Travelex or Travel Money NZ unless you already live or work in the city.

  • No commissions or fees but there is a card surcharge if you pay by card (avoid it by using BPAY).
  • Usually you can pick it up in the suburbs at various locations. It takes a minimum of 3 business days to deliver the currency to the pick up location.

Tips to save more money and get a better exchange rate

  • Call the store first to ensure they have the currency you require
  • Negotiate: There is usually room to move and you will find that sometimes asking for a better rate might actually get you one.
  • Don’t go the banks
  • Don’t transfer money overseas at the same time: These stores are for currency exchange, although they offer a money transfer service, the exchange rate you usually get is awful in comparison to online companies.

Case Study

Richard was due to travel to the US to visit his girlfriend. As he lives in Auckland and runs his own business, he doesn’t have a lot of time, and unfortunately didn’t have time to research the best ways of transferring his money. Instead he thought it would be easier to carry some cash with him to the US, and wanted to know the best rate he could get in Auckland. As he banks with ANZ, he checked their rates first and found that they were competitive with a lot of major other money transfer websites. He quickly and efficiently converted his NZD-USD before he left. However, as he dislikes carrying around wads of cash, he promised himself to make an effort next time to securely put all of his funds on a travel card.

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