Information on Australia Money

MONEY

Currency:
Australia uses a dollars and cents system with bank notes of $5, $10, $20, $50 and $100. Coins used are 5 cent, 10 cent, 20 cent and 50 cent (all silver coloured) and the $1 and $2 coins, which are gold coloured.

Cost of living:
Compared to the United Kingdom (UK) and the United States of America (USA), Australia has a significantly lower cost of living, including tuition expenses. If you are resident in central Europe you will find living costs in Australia reasonably comparable, but in many cases, house rental and petrol may be much cheaper. Of course, the standard of living is also considerably higher in Australia.

As tuition fees differ from the institution and course selected, AA Education Network has prepared a guide for what you can expect to spend in Australia.

Being an international student you can expect to spend approx. $320 per week on accommodation, food, clothing, entertainment, transport, international and domestic travel, telephone and other costs. Ensure you have Overseas Student Health Cover (OSHC)
for the duration of your student visa in Australia.

As an international student you may be allowed to work up to 20 hours per week during the semester and 40 hours during the semester break to make a living.

Exchange of Money:
As in many countries you may change money from other countries at exchange facilities upon arrival. These are located at international airports, banks and major hotels. If you think about using travellers cheques you have to keep in mind they are easier to use if they are already in Australian dollars. Most retail outlets will only accept traveller’s cheques in Australian dollars but major hotels and some shops may cash travellers cheques as well. Please visit ANZ for up to date exchange rates.

Bank Account, ATM & Credit Cards:
You may wish to consider setting up an Australian bank account, where you should provide your visa and evidence of residency. There is a broad range of banking services in Australia and most major banks have a branch in cities and regional centres. Banks are normally open from 09:30am to 04:00pm from Monday through Thursday and from 09:30am to 05:00pm Fridays.

Most shopping centres have Automatic Teller Machine (ATM) facilities and many department stores and supermarkets provide electronic transfer terminals (EFTPOS) where cash withdrawals are allowed if you purchase goods.

Most major credit cards are widely accepted around Australia.

Spending money:
Tipping is not usual in Australia and is merely optional. Service charges will not be added to your accounts in hotels and restaurants.

Saving Money:
To save money for accommodation, you may join our free accommodation / Demipair programme.

For more information please email us at info(at)australien-ausbildung.com.

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