Don’t use Travelex for foreign currency!
Off to Sri Lanka shortly and as our flight arrives late at night I thought I didn’t want to be mucking around finding an ATM at the airport while our driver waits for us, so thought I’d get a bit of local currency before we go to tide us over.
I’ve got a Wise card and have been moving money across to my LKR wallet, but this was just a stopgap measure for the first few days (accommodation, food, safari etc).
Apparently LKR is not a currency Australia Post offers, so I went into my local Travelex and ordered A$600 worth of LKR.
Once I got home though and had time to do some sums, I realised what they were selling me in LKR for nearly $620 was actually only worth around $480 at the Wise conversion rate (which I know is an online rate, so obviously going to be slightly better than a high street rate) - I was expecting a commission of about $20-$50, but $140 on a $600 transaction just seems like daylight robbery!
Went in and cancelled the deal this morning and will take our chances at the airport ATMs.
Am I being unreasonable, or are Travelex just incredibly shonky? (To be fair, they let me cancel and refunded my money, no issue). I also do understand buying/selling spreads but 180 instead of 235 seems excessive!