Student Services Direct

Money Matters

Australian Currency

The Australian currency is based on a dollar and cents system with 100 cents to the Australian dollar.

The notes are: $5, $10, $20, $50, and $100.
The coins are: 5c 10c 20c, 50c, $1 and $2.

To compare the value of Australian currency and understand conversion rates please go to www.ozforex.com.au

Banking

One of the first things you will want to do when you arrive is to open a bank account with a bank on or near your campus. In order to do this you will need to provide the bank with identification and in Australia there is a ‘100 point check’ required.

Current Passport 70 Points
Identification card issued by a tertiary education institution 40 points
Letter from current Employer 35 points
Overseas or International Drivers Licence or Proof of Age Card 25 points
Current Rate Notice (eg: telephone, water, electricity) 35 points
Statement from landlord or managing agent 25 points

Most accounts will offer the facility of an ATM (Automatic Teller Machine) card which will allow you to make deposits, withdraw funds and make transactions 24 hours a day through the ATM’s located on campus and in shopping centres.

You will be issued with a Personal Identification Number (PIN) to access your account for security purposes and this should be known only to you.

If your ATM card is lost or stolen, report it immediately to your bank and they will reissue you with a new card and PIN.

Finance & Loans

Studying in Australia can be made easy with loans that cover tuition fees, personal loans and car loans.

Following are contact details for the major banks in Australia, any of which will be able to assist you with your loan requirements. We suggest you compare interest rates and loan conditions in order to attain the best possible loan for your needs.

Major Banks


ANZ Bank - www.anz.com


Commonwealth Bank - www.commbank.com.au


National Australia Bank - www.nab.com.au


St. George Bank - www.stgeorge.com.au


St. George Bank - www.westpac.com.au

Foreign Exchange

For detailed information on Foreign Exchange, Foreign Exchange Transfers and Currency Converter go to:
www.ozforex.com.au

Tipping & Bargaining

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

Bargaining is becoming more and more part of the Aussie shopping culture although it still largely depends on where you shop. Major electrical stores and markets are generally places you can bargain and may depend on whether you are paying cash for the item you are interested in.

Student Bargain Outlet