What is the local currency?
The Australian dollar is the local currency. Each dollar is equivalent to 100 cents.
What denominations does it come in?
Coins come in denominations of 5, 10, 20 and 50 cents. There are also $1 and $2 coins. Notes are $5, $10, $20, $50 and $100.
What is the best way to exchange currency?
Banks are probably your best bet for currency exchange. Some hotels will also exchange major currencies for guests and there is a 24-hour agency at the airport.
What are commonly-used forms of payment for everyday purchases (such as groceries)?
Cash, debit cards and credit cards such as Visa, American Express and MasterCard are used most often.
Will I be able to use my credit card around town? If not, list when I’ll need cash.
The majority of places will accept credit cards, but smaller shops may require cash for purchases if they don't have Eftpos. Some retailers may have a minimal withdrawal amount and cash will be required if the purchase is under the minimal amount. Also cash is required when purchasing tickets for travelling on buses.
By what method are bills (such as rent and utilities) paid?
Bills can be paid with direct debit (arranged through your bank), phone payment with BPay and internet banking. Some bills can even be paid at the local post office.
What are the requirements for opening a bank account? At what stage of the settling-in process should I open it?
To open a bank account, you need to provide what's called "100 points of identification". Every form of identification you carry has a certain point value according to this scheme (for instance, your passport is "worth" 70 points etc). Please contact your chosen financial institution to find out what forms identification they require.
It would be wise to open a Bank account prior to your arrival in Melbourne. This can be done by contacting the following banks via their websites listed below.
Will foreign residents be able to find banking services in their native languages?
Particular banks can provide migrant facilities, but this will depend on the individual banking institution.
Are there any restrictions on services for those who are new to your country?
No restrictions are known.
What are typical banking hours?
Monday through Thursday: 9:30 a.m. to 4:00 p.m.
Friday: 9:30 a.m to 5:00 p.m.
Are automatic teller machines (ATMs) available around the clock?
ATMs are available 24 hours a day.
Is there any other money information that might help me?
Many credit cards are linked to loyalty systems where you accrue frequent flyer points and other awards.
Crown Relocations has made every effort to present accurate information. However, regulations, rates and other variables are subject to change and Crown Relocations cannot accept responsibility for the errors that might result. Should you have any questions or need additional information, please contact your local Crown representative.