Currency converter and fee comparison
Convert Australian dollars to 20 travel currencies at mid-market rates. See exactly how much each provider (fintech card, bank travel card, credit card, bank debit card, in-store DCC) keeps as a fee. Built for Aussie school leavers planning a gap year.
You receive
USD 656.70
Mid-market rate 1 AUD = 0.66 USD. Your effective rate after the fintech margin: 0.6567 USD per AUD.
Total fee: $5.00 (0.5%)
United States dollar is used in United States.
Compare every provider on the same $1,000.00
Same amount, same destination, different fee. The gap is what the provider keeps.
| Provider | You receive | Fee (AUD) | Fee % |
|---|---|---|---|
Fintech card (Wise, Revolut) Quotes very near the mid-market rate; ATM withdrawals free up to a monthly cap, then about 1.75%. | USD 656.70 | $5.00 | 0.5% |
Bank travel card Pre-load AUD at home, lock in a rate. The lock comes with a 1.5-3% margin baked in. | USD 646.80 | $20.00 | 2% |
Credit card with foreign-transaction fee Visa/Mastercard wholesale rate plus a 3% foreign-transaction fee from most Australian issuers. | USD 633.80 | $39.70 | 3.97% |
Bank debit card overseas Big-four banks add 2-3% on transactions plus typically a $5 ATM withdrawal fee. | USD 637.00 | $34.85 | 3.48% |
Dynamic Currency Conversion (DCC) at the till When the EFTPOS terminal asks 'pay in AUD?' overseas, say no. DCC margins of 5-7% are typical. | USD 620.40 | $60.00 | 6% |
Mid-market rates snapshot from the Reserve Bank of Australia daily exchange-rate release on 2026-05-21. Real-time rates move every second; on holiday, check a live mid-market source before locking in a large transfer.
The hidden fee, in one number
Every provider quotes you a rate. None of them quote you the mid-market rate. The difference is their fee, even when their marketing says "no fees". Across an AUD 5,000 trip to Europe:
- A fintech card costs you about $25 in margin (0.5%).
- A bank travel card costs you about $100 (2%).
- A credit card with the standard 3% foreign-transaction fee costs you about $200 (4%).
- The big-four debit card overseas, with ATM fees, costs about $200 (3% margin + $5 per withdrawal).
- Dynamic Currency Conversion at the till costs about $300 (6%).
On a 12-month working holiday, the gap between best and worst is often AUD 1,000-2,000 lost to nothing in particular.
Frequently asked
- What is the mid-market rate?
- The mid-market rate is the wholesale rate banks use when trading currency with each other. It's the 'true' price of a currency. Every retail provider (your bank, a travel card, a credit card, a money-changer) adds a margin on top of this. The margin is the fee.
- Are the rates live?
- No. The rates here are a snapshot from the Reserve Bank of Australia's daily release on 2026-05-21. Real rates move every second. The calculator is intended for budgeting your trip and understanding the size of provider fees, not for executing a real transfer.
- Which provider is actually cheapest in 2026?
- Fintech debit cards (Wise, Revolut, ING Orange Everyday in some configurations) consistently sit closest to the mid-market rate, with a 0.3 to 0.7 percent margin for most currencies. Avoid 'Dynamic Currency Conversion' at overseas EFTPOS terminals (when they ask 'would you like to pay in AUD?') because the margin is typically 5 to 7 percent.
- What about ATM withdrawal fees overseas?
- Most overseas ATMs charge an extra local fee (typically AUD 4 to AUD 8 per withdrawal). Some operators in Bali, Thailand and the US charge twice that. Withdraw larger amounts less often, and check whether your card refunds international ATM fees. Wise refunds two withdrawals per month up to AUD 350; ING Orange Everyday refunds all international ATM fees if you meet the eligibility criteria each month.
- Why is the credit-card fee not just the foreign-transaction fee?
- Visa and Mastercard apply their own small FX margin (usually about 1 percent) before your Australian card issuer adds the 3 percent foreign-transaction fee. Both come out of your pocket. A handful of Australian credit cards (Bankwest Zero Platinum, 28 Degrees, ING Orange One in some tiers) waive the 3 percent fee but the Visa/Mastercard margin is still present.
- Does the converter handle DCC at hotels and rental cars?
- Hotels, rental car companies and some online retailers offer to charge you in AUD instead of the local currency. This is DCC and it costs 5 to 7 percent. Always say no, even when the AUD figure looks like a friendly rate. Your bank's conversion is almost always better than DCC.
Related
- Gap year and travel hub
- Compound interest calculator (save up before you leave).
- HECS-HELP repayment calculator (what happens to HECS while you are overseas).
ExamExplained does not provide financial advice. Provider margins shown are widely-cited industry medians (Choice Australia, Canstar, RBA 2023 "Costs of Card Payments" bulletin), not provider-specific guarantees. Exact fees depend on your card, the merchant, and the country. Mid-market rates snapshot from the Reserve Bank of Australia daily exchange-rate release.