Perhaps the best way to carry most of your money is in the form of a plastic card, especially if that's the way you do it at home. Australia is well and truly a card-carrying society - it's becoming unusual to line up at a supermarket checkout, petrol station or department store in cities and see someone actually paying with cash these days. Credit cards such as Visa and MasterCard are widely accepted for everything from a hostel bed or a restaurant meal to an adventure tour, and a credit card is pretty much essential (in lieu of a large deposit) if you want to hire a car. They can also be used to get cash advances over the counter at banks and from many ATMs, depending on the card, but be aware that these incur immediate interest. Charge cards such as Diners Club and American Express (Amex) are not as widely accepted.
Australians love convenience, so debit cards are widely used here. You can draw money directly from your home bank account using ATMs, banks or Eftpos machines around the country. Any card connected to the international banking network - Cirrus, Maestro, Plus and Eurocard - should work, provided you know your PIN. Fees for using your card at a foreign bank or ATM vary depending on your home bank, so ask before your leave.
Travellers cheques generally enjoy a better exchange rate than foreign cash in Australia, plus they have the added bonus of being easily replaced if they are lost or stolen. There is, however, a fee for buying travellers cheques (usually 1% of the total amount) and there may be fees or commissions when you exchange them. Amex, Thomas Cook and other well-known international brands of travellers cheques are easily exchanged; you will need to present your passport for identification when cashing them.
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Currency
- Name Australian Dollar
- Symbol A$
Notes come in denominations of $5, $10, $20, $50 and $100.
Coins come in denominations of 5¢, 10¢, 20¢, 50¢, and gold $1 and $2 coins.
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Changing Your Money
You'll have no problems changing foreign currencies or cash at any bank or exchange bureau. Travellers cheques generally get a better rate than cash, though banks take out a commission.
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Money Tips
If you're travelling from Europe or the USA, Australia is pretty easy on the wallet. Food, in particular, is great value. Accommodation is also reasonably priced, and if you're staying in hostels, on-site caravans (trailers) or camping, and making your own meals, you could conceivably get by on about A$45.00 a day. Travel will be your biggest expense - distances are huge - so if you're moving around a bit, eating out once or twice a day and staying in budget hotels, plan for upwards of A$90.00 a day. If you're only staying for a couple of weeks and plan to take a few internal flights, you'll be looking at more like A$170.00 a day.
Credit cards (particularly Visa and MasterCard) are widely accepted (and pretty much compulsory if you're going to rent a car), and ATMs all over the country accept credit and Cirrus cards.
Sample Price Guide
- litre of petrol
- A$ 1.45
- small bottle of water
- A$ 2.50
- small bottle of beer
- A$ 3.00
- souvenir t-shirt
- A$ 30.00
- movie ticket
- A$ 18.00
- street treat (kebab)
- A$ 7.00
- car hire per day
- A$ from 60.00-100.00
- postcard
- A$ 2.00
- litre of milk
- A$ 3.00
- loaf of bread
- A$ 3.80
- cup of coffee
- A$ 3.50
Average Room Prices
Low Mid High Deluxe A$20-80 A$80-150 A$150-300 A$300+ Average Meal Prices
Low Mid High Deluxe A$5-10 A$10-25 A$25-60 A$60+ -
Tipping
While Australia does not have a strong tipping culture, it's become increasingly common (but by no means obligatory) to tip in restaurants and upmarket cafes if the service warrants it - a gratuity of between 10% and 15% of the bill is the norm. Taxi drivers are always grateful if you leave the change.
