Money matters

Introductory Snapshot

It's easy for visitors to Australia to access money. There are automated teller machines (ATMs) in most Australian towns and all cities, as well as banks that will cash travellers cheques. The Australian dollar has become increasingly competitive against major international currencies like the US dollar and the euro, so the country is a less economical destination than it used to be. That said, daily living costs such as food and accommodation are still fairly inexpensive. The biggest cost in any trip to Australia if you want to see a lot of the country will be transport, simply because it's such a huge place.

ATMs, Eftpos, Credit Cards & Bank Accounts

Branches of the ANZ, Commonwealth, National, Westpac and affiliated banks are found all over Australia, and many provide 24-hour automated teller machines (ATMs). Most ATMs accept cards issued by other banks and are linked to international networks. Eftpos (Electronic Funds Transfer at Point of Sale) is a convenient service that many Australian businesses have embraced. It means you can use your bank card (credit or debit) to pay directly for services or purchases, and often withdraw cash as well.

Credit cards such as Visa and MasterCard are widely accepted for everything, including getting cash advances over the counter at banks and from many ATMs. Charge cards such as Diners Club and American Express (Amex) are not as widely accepted.

Opening a local bank account is easy for overseas visitors provided it's done within six weeks of arrival. Simply present your passport and provide the bank with a postal address and they'll open the account and send you an ATM card. After six weeks you need to provide more identification (ID), such as a passport, a birth certificate or an international driving licence with photo.

Currency & Exchanging Money

Australia's currency is the Australian dollar, made up of 100 cents. There are 5c, 10c, 20c, 50c, $1 and $2 coins, and $5, $10, $20, $50 and $100 notes. Prices are often marked in single cents and then rounded to the nearest 5c when you pay.

Changing foreign currency or travellers cheques (see following) is usually no problem at banks throughout Australia or at licensed money-changers such as Travelex or Amex in cities and major towns.

Taxes & Refunds

The Goods and Services Tax (GST) is a flat 10% tax on all goods and services – accommodation, eating out, transport, books, furniture, clothing etc. There are exceptions, however, such as basic foods (milk, bread, fruits and vegetables). International air and sea travel to/from Australia is GST-free, as is domestic air travel when purchased outside Australia by non-residents.

If you purchase new or second-hand goods with a total minimum value of $300 from any one supplier no more than 30 days before you leave Australia, under the Tourist Refund Scheme (TRS), you are entitled to a refund of any GST paid. For more details, contact the Australian Customs Service on 1300 363 263 or 02 6275 6666 or you can visit the website at: www.customs.gov.au

Travellers Cheques

The convenience of internationally linked credit and debit card facilities in Australia means that travellers cheques are not used much. Nevertheless, Amex, Thomas Cook and other well-known international brands of travellers cheques are easily exchanged. You need to present your passport for identification when cashing travellers cheques.

Shopping Etiquette

Bargaining is not the norm in Australia, unless you're at a second-hand market or buy a whole new wardrobe from one store, in which case it probably wouldn't hurt to ask for a small discount.

Tipping is becoming more common in Australia, particularly in cafes and restaurants in the bigger cities; a 10% tip is usual. However, you won't cause offence if you don't tip. Taxi drivers are always grateful if you leave the change.

Australia For Free

There are plenty of activities that cost nothing or next to nothing for those on a budget. Appreciate Australia's stunning natural beauty and native animals with walks through its pristine national parks – there are more than 500. Enjoy endless walks along endless beaches; go people watching at fantastic markets; learn about Australia's art and heritage at excellent free galleries and museums (see the Culture section); or attend some typically Australian festivals, like the surf life-saving competitions on beaches all around the country during summer. The list of free or cheap things to do is endless, so there's no need to let a student budget come between you and good times.

Working while you study

People granted student visas on or after 26 April 2008 will receive permission to work with their visa grant. If your student visa was granted before 26 April 2008 however, you can still apply separately to the Department of Immigration and Citizenship (DIAC) for permission to work once you have started your course in Australia.

Permission to work allows you to work up to 20 hours a week on a casual basis during course time and full-time during vacation periods. Family members can also work up to 20 hours a week throughout the year. In the case of students who have commenced a masters or doctorate course, family members can work unlimited hours. Students and their family members must not undertake work until the student has commenced their course of study in Australia. For further information please visit the Working while you study in Australia page.