Currency exchange counter
Run a small shopfront or kiosk swapping foreign cash for travellers and local businesses, earning a margin on each exchange.
- A$20k-100k
- Full-time
- Own premises
- Licence or permit needed
Estimates for a small start in Australia, not guarantees.
What it is
A small counter or shopfront where customers buy and sell foreign banknotes. You hold a float of popular currencies, post clear rates and keep careful records of every transaction.
Your first three steps
- Speak to an accountant and read AUSTRAC's guidance on whether your services mean you must enrol, and what an AML/CTF program involves
- Compare wholesale banknote suppliers and agent arrangements, and check their minimum floats, rates and terms
- Look at locations with steady foot traffic, such as near transport hubs, tourist areas or shopping strips, and get quotes for a safe, a counter and insurance
Who pays
Outbound and inbound travellers, tourists, students, and small businesses that deal in foreign cash.
How it makes money
You buy and sell currency at rates either side of the wholesale rate and keep the difference, sometimes plus a small fee. Your earnings depend on volume and on how well you manage your float.
Skills that help
- Careful with cash and numbers
- Customer service
- Record keeping and compliance
- Spotting forged notes and suspicious behaviour
Watch out for
- AUSTRAC enrolment and an AML/CTF program, including identity checks and reporting of large cash transactions. Check what applies to you before trading
- Whether any of your services need an Australian Financial Services licence from ASIC. Get professional advice
- Exchange rate swings can wipe out your margin on the float you hold
- Cash theft and robbery risk, so check security, cash insurance and staff safety
- Public liability insurance and council or landlord approval for the premises
- Banks can close business accounts for cash-heavy businesses, so talk to your bank early
Deep research report · Australia
Everything you need to start: currency exchange counter
Researched with live web search for Australia: real startup prices, the licences and rules, what others charge, a break-even example, how to find your first customers and a 30-day launch plan. With sources.
- Startup costs with real prices
- Licences, registration and rules
- Pricing: what others charge
- Break-even example
- Finding your first customers
- 30-day launch plan
- Risks and how to reduce them
Questions people ask
How much does it cost to start a currency exchange counter in Australia?
Startup costs are typically estimated at around $20,000 to $100,000, depending on your premises, security, and the size of the foreign cash float you hold. Exchange rate swings can affect the margin on that float.
How much can a currency exchange counter earn?
Monthly revenue is typically estimated at around $3,000 to $15,000, depending on location, foot traffic and the margin you earn on each exchange. You should allow for at least around 30 hours a week of trading.
What rules and approvals should I check before opening?
Check AUSTRAC enrolment and an AML/CTF program, including identity checks and large cash reporting. Check whether any services need an Australian Financial Services licence from ASIC, and get professional advice. Also check premises approvals and your bank's attitude to cash-heavy businesses.
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