Foreign Exchange Vendors (Don't get cucked)

Lhypebeast on 06/12/2016 - 18:24
Last edited 06/12/2016 - 18:27

Hey guys,

Long time lurker, first time poster, so I'm hoping some of you will find some use from my story.

Last week, I went to a few currency exchanges in the fine city of Melbourne to exchange money for a trip I was taking. I went to EzMart on the corner of Swanston and Little Londsdale and asked about their rate, to which the Indian man at the counter pointed at the price on the board (REMEMBER THIS). I then repeated the process for about 10 different exchangers, and the rate on the board at EzMart was the best (or so I thought).

So I went there and exchanged $230AUD at 1.04. Expecting to receive approximately $240SGD, however to my surprise I got a total of $220, noticing that I was charged a whopping 10% commission fee. When I asked the clerk, he just pointed at the sign, where in tiny fineprint "Fees may apply". Being very frustrated at being cucked, I left the store and called up the ACCC hotline who, long story short, told me that the single advertised price requires all mandatory fees to be factored in.

So I went back to the store and quoted the Consumer law. Despite this, the clerk still refused to refund me, being extremely rude and telling me "I've been working in this store for 5 years and you think you know better?". At this point, I threatened to bring action against him to the ACCC, telling him that no amount of disclaimers can waiver Consumer law. He then refunded me and told me to read the disclaimer carefully next time. I still reported him, pending action from the ACCC :^)

Anyway, morale of the story is not to be cucked, and don't be afraid to call the ACCC for help, their hotline staff are delightful to deal with! (Also avoid EzMart exchange, instead the one between Londsdale and Little Londsdale offers fantastic relative rates)

Interested to hear if anyone else has been cucked by foreign exchange offices, or retailers in general

Financial

Comments

  • tonyjzx on 06/12/2016 - 18:36

    sounds like he got cucked

    • hypebeast on 07/12/2016 - 14:22

      Not really but ok lol

  • retiredfeline on 06/12/2016 - 18:40

    Sounds painful. My sympathies.

  • [Deactivated] on 06/12/2016 - 18:52
    +6

    to which the Indian man at the counter

    I'm not sure how the specification of the attendant's nationality influences this story.

    • Them3lguy on 06/12/2016 - 20:33
      +5

      Second that.. If the attendant were a Russian Babe… Still OP would have got CUCKED.

    • hypebeast on 07/12/2016 - 14:39
      -4

      Statistically dealt with more arrogant, self entitled Indians than any other race, both as a buyer and a seller :^)

      • Them3lguy on 07/12/2016 - 18:01

        Has been totally different experience for me when compared to you :)

        Statistically..haven't seen any of them homeless either…Not trying to pass any judgments but if a race feels more entitled more chances it has for having a roof over the head.!?

        Nah doesn't sound right.

        Have seen 20 people including Indians, Pakistans, Srilankans there were some Vietnamese and Chinese making meals for homeless people IN a QLD park.
        Spending around 2-3k per night for the same.

        Sure I don't know the race of homeless people who were in the park but my experience with Indians has been a GOOD one.

        Again it's personal I love chicken and you may be a vegan :)

        Till none of us gets CUCKED it's all good Mate.

  • mbck on 06/12/2016 - 19:05

    You should go to the one in melb central. They will best the price. If they cant, they will give you 100 bucks. (they always beat though).

    Oz traveller, or something like that

    • hypebeast on 07/12/2016 - 14:32

      Ended up exchanging a small amount, so the rate difference wasn't too bad in the end with the place I went to :p But I'll remember that for next time, thanks!

  • 2jzzzz on 06/12/2016 - 19:44
    +4

    Citibank Visa Debit and take cash out overseas. Never have to deal with the dirt bags.

    • plmko on 06/12/2016 - 20:15
      -2

      Yeah but you need some cash, if you get selected for random search in places like Japan they can refuse entry because they expect tourists to carry enough to pay for expenses.

    • hypebeast on 07/12/2016 - 14:35

      Yeah I ended up doing that, the rate is pretty good!

  • thechemist on 06/12/2016 - 20:48
    +3

    https://auspost.com.au/travel-id/travel-money/foreign-cash
    I find them good as they do $500 to $8500 and the conversation rate is around 3.5% worse then the actual listed Currency Exchange rate (I use Bloomberg)and no commission. Takes a few days and pick up at local post office so it is convenient

    • ragrum on 07/12/2016 - 14:49

      It was 5% worse for me recently when I did it in-store (not the American Express one), so it sounds like the online exchange rates are a little better.

  • Realsteel on 06/12/2016 - 20:51
    +1

    Instead of expecting you would be getting $XXX, i would have just asked the attendant how much $240 would fetch you. Not saying what they did was right but you would have saved yourself the hassle and heartache.

  • dasher86 on 07/12/2016 - 06:50

    You're lucky you had this lesson in Aus.
    Good bye to your money if you were overseas

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