What is the best way to exchange foreign currency?

I will be based in Australia for about 6 months and would like to know which platform is the best for me to exchange foreign currency:

Traditional money changer (dangerous as we will be carrying a lot of cash)
Multi-Currency Account (saw that DBS has this but the account generates 0% interest)
YouTrip (not sure how this works)

Thanks in advance!

YouTrip Card

4

Discussion (4)

What are your thoughts?

Learn how to style your text

HC Tang

05 Aug 2019

Financial Enthusiast, Budgeting at The Society

1) DBS visa debit card - Transfer $ from your DBS account to the card and change to AUD and store in the card and use.

2) Youtrip - Same as #1 just that you need to transfer to Youtrip account then change to AUD using the app as and when you need then treat the Youtrip card like a debit / master card.

Traditional $ changer only suitable if you keep travelling around or one lump sum. Dangerous as you said.

Reply

Save

View 2 replies

Mark

02 Aug 2019

YouTrip is better. See it as getting 3% rebate. Top up via app as and when required. Plus now no dormancy fee. The only drawback is that it doesn't support online payment that requires one time pin (OTP)

Reply

Save

Write your thoughts

YouTrip Card

4.5

1142 Reviews

Mastercard

TYPE

Free

CURRENCY EXCHANGE FEES

N/A

MONTHLY FEES

$5/transaction

OVERSEAS ATM WITHDRAWAL FEES

150+

SUPPORTED FIAT CURRENCIES