Finances

Banking Arrangements

Currency

Australia uses a dollar and cents system of decimal currency with 100 cents in a dollar. We use both notes and coins, and Australian currency is the only legal tender in Australia. Australian bank notes include $5, $10, $20, $50 and $100 notes. Coins used are silver 5, 10, 20 and 50 cent coins, while our gold coin currency consists of $1 and $2 coins.

Money from other countries can be easily changed at exchange facilities located at international airports, banks and major hotels.

Bring enough funds to cover initial expenses, such as accommodation (rent, bond, utilities, furnishings), study materials, personal effects, food and transport. You will probably need at least AUD500 in cash and AUD1000 in traveller's cheques. There are currency exchange facilities at Sydney airport but not at the Newcastle airport.

Automatic Teller Machines are readily available and accept major international credit cards.

We suggest you open an account at either the on-campus bank or Credit Union or at a bank close to your accommodation after you arrive. International credit cards, such as MasterCard, Visa and American Express, are accepted in Australia but it can take up to two weeks to clear an overseas bank draft.

Banks on Campus

There are two banks on campus: the Commonwealth Bank, near the student services building and the Newcastle Permanent Building Society, located in the Shortland union building.