Exchanging currency

[AskTJ]

I am currently visiting family in Russia, and my flight is on Wednesday. 

 

When I get back to Australia (where I reside), I want to exchange Russian Rubles to Australian Dollars.

 

I have around 2000 Russian Rubles in cash and want to exchange it into Australian Dollars.

 

Is there a minimum age I have to be to do this? Do I require any other things? I don't have ID (except for a passport).

[Volbet]

Usually you would just go to your bank and have them exchange it. Depending on policy they just have you sign a receipt for a small transaction like this.

You could also go to money changers, but they'll not give you as good an exchange rate as your back and/or they'll charge you a hefty fee.

[AskTJ]

16 minutes ago, Volbet said:

Usually you would just go to your bank and have them exchange it. Depending on policy they just have you sign a receipt for a small transaction like this.

Yiu could also go to money changers, but they'll not give you as good an exchange rate as your back and/or they'll charge you a hefty fee.

Does my age matter?

[Volbet]

2 minutes ago, AskTJ said:

Does my age matter?

I can't see why it would. At the bank they usually just want you to have an account with them and a money changer will just give you cash.

I can't say if an establishment will have a policy against taking money from minors, but if they do then just get an adult to exchange the money for you.

[Guest]

You can change currency in either your bank or airport, but look out for hidden fees.

There isnt any need for a ID or a minimum age, why there should be?

[AskTJ]

1 minute ago, Some Random Member said:

You can change currency in either your bank or airport, but look out for hidden fees.

There isnt any need for a ID or a minimum age, why there should be?

Thank you.

 

Gz on 3000!

[Dredgy]

You will possibly need ID to change currency in Australia to prevent laundering, but maybe not. Passport is fine. Travelex rates are usually the best in Aus, and are likely going to be the only place that will take Roubles (probably make sure they do first - it’s an obscure currency in Oz)

 

Likewise the airport in Russia will likely not carry AUD (though it might, it’s a valuable currency)

 

If you stop somewhere in Asia on the way back, you have a much higher chance of finding an exchange there that has both roubles and Aussie dollars but lots of Asian countries typically have high fees so it might not be worth it for just 2000 roubles.

[AskTJ]

11 minutes ago, Dredgy said:

You will possibly need ID to change currency in Australia to prevent laundering, but maybe not. Passport is fine. Travelex rates are usually the best in Aus, and are likely going to be the only place that will take Roubles (probably make sure they do first - it’s an obscure currency in Oz)

 

Likewise the airport in Russia will likely not carry AUD (though it might, it’s a valuable currency)

 

If you stop somewhere in Asia on the way back, you have a much higher chance of finding an exchange there that has both roubles and Aussie dollars but lots of Asian countries typically have high fees so it might not be worth it for just 2000 roubles.

I will be stopping in Singapore as a connecting flight for around 16 - 24 hours. (Not exactly sure).

 

Can I exchange currency with a passport while being a minor?

[Dredgy]

15 minutes ago, AskTJ said:

I will be stopping in Singapore as a connecting flight for around 16 - 24 hours. (Not exactly sure).

 

Can I exchange currency with a passport while being a minor?

 

No age restriction.

Singapore is probably the best place to change, the airport usually has a good rate though changers in the city can be hit or miss and usually charge commission. Being a global hub basically all currencies where there’s a direct flight from SIN will be available for change. 

Another option (if roubles aren’t able to be exchanged in Australia, which they might be able to, IFE neger tried) is to change roubles for euros/usd in Russia and then to AUD but this is less than ideal as you’ll be hit by two commissions.

 

[Herman Mcpootis]

1 hour ago, AskTJ said:

I will be stopping in Singapore as a connecting flight for around 16 - 24 hours. (Not exactly sure).

 

Can I exchange currency with a passport while being a minor?

pretty sure you don't need an ID or anything for exchanging money here.

[AskTJ]

4 minutes ago, Herman Mcpootis said:

pretty sure you don't need an ID or anything for exchanging money here.

Cheers for the input. I'll try and save as much as I can.

 

If I trade in 2000 RUB, it equates to $42.74 AUD. With the commission, can I get at least $40 AUD?

[TacoSenpai]

I'm sure even if they do require an ID a valid passport would be more than enough.  You will be able to exchange but they will charge a bit onto the top since thats how the exchange makes its money.

[Guest]

On 8/5/2018 at 7:01 AM, Volbet said:

Usually you would just go to your bank and have them exchange it. Depending on policy they just have you sign a receipt for a small transaction like this.

You could also go to money changers, but they'll not give you as good an exchange rate as your back and/or they'll charge you a hefty fee.

If you call ahead and list the amount they can order it for the best deal. 

 

As least in USA that’s how some banks do it. (TD Bank said that’s the best way for them.)