Finances

You should arrive with enough funds to cover your initial living expenses for at least the first month, while you settle in and set up a local bank account.

Many international banks offer travel currency cards, money transfer options or money transfer apps to help you to manage your finances in our local AUD$ currency, and to avoid travelling with large amounts of cash. Some Australian banks have branches in other countries or give you the option to open an account before you leave your home country. This will make financial transactions more convenient once you arrive in Australia.

To help you budget and plan your finances, see the handy Insiders Guide to Money and Banking in Australia

View guide

You can buy and sell foreign money at most banks.

In Australia, most banks are open Monday to Friday 9am to 4pm (excluding public holidays) and some are open on Saturday mornings.

Automatic teller machines (ATMs)

You can take out money from your home bank account at Australian automatic teller machines (ATMs) or at most banks. There are many ATMs on main streets and in places like shopping centres, petrol stations, pubs and hotels.

Please ask your bank at home about fees and charges for taking out money from your account at Australian ATMs.

We recommend that you open an Australian bank account during your stay in Australia. This will allow you to manage and access your money in Australian dollars. Choose any bank you prefer and ask them if they have Student Account options. Many banks offer discounts if you show them your student card to prove you are a University student. With most banks you can transfer funds from your home country to your Australian bank account through internet or phone banking.


To learn about your tuition fees and other related study costs, please see our costs and scholarships information.

You will receive a bill for your tuition fees each study term. Your tuition fees are calculated based on the type and number of courses you are enrolled in each study term. Your tuition bill will be calculated and emailed to your student email and available for you to view in your myHub account.

Cost of living in Australia

Before granting a student visa, the Australian Government Department of Home Affairs will require you to show or declare that you have enough funds to pay for your expenses while in Australia.

These amounts are the minimum amount you will need to pay for basic living costs, and do not include the cost of tuition fees, study materials, overseas travel, or personal items such as laptops or motor vehicles

The cost of living will be determined by your lifestyle and needs. Your budget should include costs that you may not expect, such as emergencies and health expenses. This is more important if you are bringing family members with you to Australia

Study Australia has prepared an interactive Cost of Living calculator where you can estimate living costs. To use the calculator, select Sydney as the City your would like to live in for an estimate valid for both Sydney and Newcastle. Then, answer questions about your preferences for accommodation, transport, food, activities. The calculator will give you a weekly, monthly or yearly estimate of how much money you’ll need for your lifestyle in Australia.

Find out your cost of living