Money & Banking - Study Perth
Education in Perth means enjoying our city! Start here for information on accommodation, transport, climate, money, insurance and healthcare.

Money and banking

Currency

Our currency is the Australian Dollar (AUD) which is measured in dollars ($) and cents (c). There are 100 cents in one dollar.

We have $5, $10, $20, $50 and $100 plastic bank notes. Our coins are in silver 5¢, 10¢, 20¢ and 50¢, and gold $1 and $2.

Changing and using your money

Only Australian currency can be used in Australia. Foreign currencies can be exchanged at international airports, banks and major hotels. Travellers’ cheques are easier to use if they are in Australian Dollars, however banks will cash travellers’ cheques in almost any currency.

Automatic Teller Machines (ATMs) are readily available for withdrawals 24 hours a day, though they may charge a small fee. Most stores and supermarkets also have Electronic Funds Transfer at Point of Sale (EFTPOS) terminals where you can pay directly from your bank account as well as make cash withdrawals.

The most commonly accepted credit cards in Australia are MasterCard, Visa, Bankcard, American Express, Diners International and their affiliates. Most businesses accept credit cards as payment.

Opening a bank account

You should open a bank account as soon as you arrive in Perth. 

You will need several forms of identification such as your passport, Student ID card and drivers licence. You may also need to provide a Tax File Number.

MAJOR AUSTRALIAN BANKS