What is the local currency?
The Australian Dollar is the local currency and each dollar is worth 100 cents.
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What denominations does it come in?
Coins come in denominations of 5, 10, 20 and 50 cents, as well as $1 and $2. Notes are $5, $10, $20,
$50 & $100
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What is the best way to exchange currency?
Banks are probably your best bet for currency exchange. Some hotels will exchange major currencies for guests and there is a 24 hour agency at the airport.
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What are commonly-used forms of payment for everyday purchases (such as groceries)?
Cash, Debit (Electronic Financial Transfer Point of Sale - EFTPOS) and Credit cards (Major cards are Visa, American Express, MasterCard). The use of debit cards is popular in Australia and supermarkets and petrol stations offer a 'cash back' facility when you purchase goods so that you can withdraw money without the need to go to an ATM. Not all outlets offer a 'cash back' facility.
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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 or EFTPOS when making purchases. Some stores will have a minimum purchase amount, such as $10 before a bank or credit card will be accepted.
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By what method are bills (such as rent and utilities) paid?
Bills can be paid by direct debit (arranged through your bank); by BPay from your cheque or savings account or credit card, either online or by phone. Post Billpay can be used to pay at any Post Office with cash, cheque or from your bank account; payment can also be made by post or in store with cash, cheque or credit card.
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What are the requirements for opening a bank account? At what stage of the settling-in process should I open it?
It is recommended that you contact your chosen financial institution to confirm its policy for opening bank accounts. Bank accounts can be opened and funds deposited prior to arrival but funds cannot be withdrawn until the account is activated after your arrival. However, details of the account number can be given to your employer.
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Will foreign residents be able to find banking services in their native languages?
Some banks can provide migrant facilities but availability will depend on the individual banking institution.
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Are there any restrictions on services for those who are new to your country?
No restrictions that are known.
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What are typical banking hours?
Monday - Thursday 9.30 am - 4.00 pm
Friday - 9.30 am - 5.00 pm
Saturday - a small number of banks are open on Saturday
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Are automatic teller machines (ATMs) available around the clock?
Yes, ATM's are available 24 hours
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Is there any other money information that might help me?
Visa, MasterCard, American Express and debit cards (EFTPOS) are the most common cards used and many credit cards are linked to loyalty systems where you accrue frequent flyer points and other awards.
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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.