This is probably old news to many, but recently I found that there are much better ways of exchanging money overseas than using the bloody banks. Unfortunately I have found out tens of thousands of dollars in exchange rate losses too late, but I certainly won't make the same mistake again.
Seems there are many companies who specialise in foreign exchange, who actually offer very close to the advertised rate (within half a cent) and attract no other fees compares to the banks where you regularly lose 2.5 - 3 cents and are slugged a bloody fee.
May not be worthwhile using them when buying bike parts and stuff, however for larger transfers the savings are definitely worthwhile. Another advantage is that your cash doesn't get stuck in "no mans land" (read short term money markets so the banks can earn interest) for 48 hours either, which means the transfers are much faster.
If you needed another reason to hate your bank, I reckon this is a good one.
