Australian dollars can be exchanged in foreign exchange banks, and China Bank/Industrial and Commercial Bank/Agricultural Bank/China Construction Bank/Bank of Communications are all foreign exchange banks.

The exchange rate changes every day (just like stocks, according to market demand). The exchange rate of the same bank is the same everywhere, and the exchange rates of different banks are slightly different. There is no handling fee for exchange (because the handling fee has been included in the price difference between foreign exchange bought and sold by banks).

The total amount of foreign exchange purchased by domestic individuals every year is Australian dollars equivalent to US$ 50,000. According to the current Australian dollar exchange rate, it is certainly more cost-effective than in the past. Regarding the handling fee, there is no handling fee for purchasing foreign exchange itself. I don't know from which bank you learned that there is a handling fee for purchasing foreign exchange. But if you remit Australian dollars to an overseas account to make such overseas remittance, there will be a fee. The rates of different banks are different, and the upper and lower limits of fees are also different.