Australia Banking & Exchange Rates

Bank Accounts

Overseas visitors can open a bank account within 6 weeks of arrival into Australia simply by presenting your passport. If 6 weeks has elapsed you will need to provide identification which adds up to at least 100 points.

For example:

· Birth certificate, passports equals 70 points

· International Driver's licence equals 40 points

· Credit cards, student cards, id cards equals 20 points

NOTE: If you don't hold an Australian Tax File, any interest earned on your bank account will be taxed at 47%.

Major Banks

· Commonwealth Bank

· ANZ Bank

· Macquarie Bank

· Westpac Bank

· National Australia Bank

· St George Bank

ATMs

There are 24-hour automatic teller machines (ATMs) at the majority of banking institutes, at convenience stores across most cities and towns in Australia. Most banks have a $1000 per day withdrawal limit.

Exchange Rates

Check with the banks or licenced moneychangers for the daily rate.