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Everything to Know About Currency Exchange in Australia for Pakistani Expats

Everything to Know About Currency Exchange in Australia for Pakistani Expats

04 May 2023

Australia is home to more than 7.5 million foreigners, which make up almost 29.1% of its population. Out of these expats, above 97,220 (0.4% of the Australian population) are overseas Pakistanis, most of whom have settled here either to study or work and send money to Pakistan for financial support. Knowing about currency exchange in Australia holds key importance for overseas Pakistanis and all other expatriates since it decides how much money their beneficiaries will receive in their home countries. 

Whether you need to exchange currency for an emergency or the typical financial needs of your family, being shrewd about the currency market is essential if you don’t want to face an incredible loss. 


Important things to know before getting into the Currency Exchange in Australia


Here are the answers to the critical questions that must be asked before getting a currency exchange. 


Should you exchange currency before or after moving to Australia?


Experts believe the cheapest way to buy currency is to exchange it in your destination country. If you are moving to Australia for work, exchanging it while you are in Australia is advisable. You can sell your own currency for Australian dollars at the best rates with forex brokers or banks in Australia. 


Where can you exchange currencies in Australia?


Getting currency exchange in Australia is not a very difficult or complex job. Here are some ways through which you can get currency exchange.

  • Credit unions and local banks offer satisfying exchange rates.
  • Central banks also have ATMs abroad. 
  • Online bureaus and currency converters like ACE offer market-competitive exchange rates.


Which banks offer currency exchange in Australia?


Here are the top 4 Australian banks that you can go to for currency exchange

  • Commonwealth Bank of Australia (CBA)
  • Bank Australia
  • Bendigo and Adelaide Bank
  • Bank of Queensland (BoQ)


Top 5 Reasons why you should use ACE Money Transfer Instead of a Bank when you Send Money to Pakistan Online from Australia

A Worldwide Networking Range


ACE Money Transfer is a worldwide network. It even reaches the most backward or farthest regions as well.  You can send money from Australia, Canada, the EU, and the UK to 100-plus receiving corridors. No matter where your loved ones reside, ACE can help your funds reach that place in no time. 


The Most Market-Competitive Exchange Rates


With any other service, you can expect your amount to go through massive deductions at each stage of the money transfer. First, if you go to a bank, they will offer you static exchange rates. You will be forced to lose a large sum of money at low exchange rates. Then they charge a hefty transfer fee. If you are an expat and frequently make international transactions to send money to your loved ones back home, using banks can be a loss situation. 


ACE Money Transfer is most famous among expats from different nations due to its market-competitive exchange rates. ACE keeps its exchange rates up-to-date, which you can check live on their currency calculator on the website. The currency calculator is linked with the interbank rates, thus providing you with recent rates every time you check them; it can help you decide the best time to transfer funds back home. This is ideal for people who must send a large sum of money.


A pro tip is to wait and observe the exchange rates on ACE. As soon as you get the highest offer, purchase the currency!


No Added Strain of Hidden Fees


Most banks are notorious for charging more than the foretold fees. Some banks also charge a receiving fee that the recipient pays upon receiving the funds. 


ACE, on the other hand, has a very transparent system. This means that you will be previously apprised of all the charges you will pay. There are absolutely no hidden fees or receiving fees. The only charges are transfer charges. Even the transfer fee is very less than that of banks. 


Hence, ACE is an excellent choice if you want to save money. Make an online money transfer to Pakistan using ACE’s services and benefit from the lowest transfer costs, the highest exchange rates, and several chances to win immense prizes.


The Speed is Unbelievable.


It wouldn’t be wrong to call ACE one of the fastest money transfer companies in the world. Compared to banks and wire transfers, ACE does the job pretty quickly. Banks and wire transfers can take up to 5-7 days to transfer the funds. This period can have further delays due to several factors, including bank holidays, time zone differences, and lack of banking facilities in a specific region. 


ACE Money Transfer is known for its speedy transactions. It proves to be a rescue in times of urgency. Your funds will cross borders within a day. As an expat working internationally, you might not be able to help your family in times of urgent need physically. However, with ACE Money Transfer, you can definitely provide financial assistance almost instantly. 


Your Funds are Highly Secured.


Most people feel reluctant to use online money transfers due to the prevalent scams and frauds. There are plenty of risks involved in online money transfers if you end up choosing a shady company without thorough and proper research. 


ACE Money Transfer has been operating for two decades with millions of users all across the globe. It uses high-tech security software to protect your funds from getting lost. It is a credible and reliable company aiming to transfer money internationally safely.

Why Wait? Choose ACE Money Transfer for Your Currency Exchange in Australia as an Overseas Pakistani


It is absolutely necessary to be mindful of the offered and market exchange rates before exchanging currency. ACE Money Transfer offers market-competitive exchange rates that maximise your currency conversion. The firm offers enticing rewards for its customers to use its services. If you make a secure and instant money transfer to Pakistan via ACE Money Transfer, you’ll enter the lucky draw to win massive prizes. Stay connected with the firm’s website and social media channels to learn about the ongoing promotions. Sign up on ACE free to send money abroad with the best possible exchange rates. 

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