Australian Money, NZ ATM

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Forums › Finance and wealth management › Australian Money, NZ ATM

1080p

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#84238 27-May-2011 09:00

I'm not sure if this has been brought up yet but it has been around for a while on Willis Street in Wellington. One of their BNZ ATM units has a sign saying that it dispenses Australian money as well as New Zealand money.

Why is this?

As far as I know Australian dollars are no good to merchants in New Zealand and money can be changed at most airports and banks.

I'm probably missing a big piece of the pie but it seems silly to me.

nakedmolerat

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#474678 27-May-2011 09:18

money changer at the airport charge you a bit more.

if i am not mistaken, there is no extra fee when you use this service.

wellygary

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#474686 27-May-2011 09:39

To be honest I suspect it is a trial and proof of concept at a couple of places that only have low demand.

According to BNZ ATM finder there are only 3 in the country that do it ( two at their lower Queen street branch and one in Wellington).

They also list having ATMs at AKL,WLG and CHC international terminals, but none of these have the ability to dispense Aussie Notes.
If it were wanting to provide this service fully I would have expected that the airport ATMs would be the first to dispense them.

Fraktul

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#474688 27-May-2011 09:44

They have ATMs at Auckland international which dispense AUD last time I was there in Feb this year. There are a number of Euro dispensing ATMs in central London I have noticed also.

eracode

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#474700 27-May-2011 10:28

Pretty handy if you're just heading out to the airport and want to grab some cash for when you first arrive in Oz, but not having them at airports seems pretty stupid. It could be that the lease or license arrangement that the airport companies have with the currency dealers within the airports states that the airport will not allow other banks' ATMs to dispense foreign currencies. BNZ lost its license to be the Auckland in-airport bank to another dealer a few years ago, so they maybe they are not allowed to have FX-dispensing ATMs there.

Dual-currency ATMs are not uncommon overseas. Many ATMs in South American cities dispense local currency or USD. The interesting thing is, the USDs you receive are new, fresh notes.

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dickytim

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#474702 27-May-2011 10:35

nakedmolerat: money changer at the airport charge you a lot more.

if i am not mistaken, there is no extra fee when you use this service.

Edited your post for accuracy ;)

Last time I was at The Auckland air port I could not find the machine that dispenced AUD.

floydbloke

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#474719 27-May-2011 11:27

nakedmolerat: ... there is no extra fee when you use this service...

Interesting, I would expect a pretty crappy exchange rate but could be useful for small amounts not having to pay the minimum commission.

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robjg63

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#474720 27-May-2011 11:27

There used to be BNZ money machines that dispensed Aussie dollar at Auckland International UNTIL travelex got given sole rights to money exchange at Auckland Airport.
Not sure when that happened exactly.

Presumably the BNZ wouldnt pay the heavy fees that companies have to pay to airports to be there and had to take their very useful machines with them.

I always found the BNZ branches quite helpful in the airport. Last year my wife and I were heading out of the airport to europe and had got some euros from the bank. One of the notes we got given was something like e200 - so I though I would just change it at the airport on the way out (they seem suspicious of large euro notes in europe). The travelex office just said - "we will only change it if you are a customer". I dont see what harm it would have done - they had no customers at the time. The person behind the counter looked bored.

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dickytim

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#474725 27-May-2011 11:37

robjg63: There used to be BNZ money machines that dispensed Aussie dollar at Auckland International UNTIL travelex got given sole rights to money exchange at Auckland Airport.
Not sure when that happened exactly.

Presumably the BNZ wouldnt pay the heavy fees that companies have to pay to airports to be there and had to take their very useful machines with them.

I always found the BNZ branches quite helpful in the airport. Last year my wife and I were heading out of the airport to europe and had got some euros from the bank. One of the notes we got given was something like e200 - so I though I would just change it at the airport on the way out (they seem suspicious of large euro notes in europe). The travelex office just said - "we will only change it if you are a customer". I dont see what harm it would have done - they had no customers at the time. The person behind the counter looked bored.

I also remember when BNZ had all the money exchange, I am sure the fees were a lot more reasonable!

I have also found that travelex tellers to be somewhat rude and unhelpful.

I get my cash out in Aussie commonwealth bank ATMs at the fees are alot cheaper for ASB customers. If I have to I use other ATM's in Aussie. It is substantially cheaper than using foreign exchange at the airport both ways.

Changing money back I go to my local ASB branch or make sure I spend it in the airport!

1080p

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#479555 10-Jun-2011 00:04

Still, the business case for an ATM that dispenses Australian dollars must have been hard to pitch.

I can't imagine anyone using it. Especially since you'd likely get the same charges changing your money in the bank that the ATM is next to.

dickytim

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#479577 10-Jun-2011 07:19

actually no, the only charge was the currency exchange rate (which was far superior to what travelex offer) and the small percentage margin.

old3eyes

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#479596 10-Jun-2011 08:58

wellygary: To be honest I suspect it is a trial and proof of concept at a couple of places that only have low demand.

According to BNZ ATM finder there are only 3 in the country that do it ( two at their lower Queen street branch and one in Wellington).

They also list having ATMs at AKL,WLG and CHC international terminals, but none of these have the ability to dispense Aussie Notes.

If it were wanting to provide this service fully I would have expected that the airport ATMs would be the first to dispense them.

They used to give Ozz money once but after Travelex took over this side of things they now only give kiwi Pesos. It was very handy especially if you wanted to collect ozz money when the exchange rate was good in our favor..

Regards,

Old3eyes

Oblivian

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#479598 10-Jun-2011 09:08

Confirmed - there is a TravelEx multi currency ATM at CIAL (CHCH International)

gible

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#479891 10-Jun-2011 21:00

fwiw when I drove cabs I was happy to take most foreign currency at face value...tho western currencies only...we never seemed to catch up to them.