You might not have traveled overseas till now, or you might have gone overseas for travel or work in the past. This might be the first time that you will live abroad, and you will definitely have questions coming up in your mind like How much Australian Currency should I take to Australia? or How can I pay for things that I buy in Australia?
Here is everything you need to know about carrying Australian Dollars (also called Foreign Exchange, or FOREX) to Australia:
Q: How much cash can I bring to Australia?
A: There is no limit on how much currency you can bring into Australia. However, any amount more than an equivalent of $10,000 USD should be reported to customs when you travel.
Q: Do I need to carry cash to Australia? Are EFTPOS cards used in Australia?
A: It is not necessary to carry cash. EFTPOS cards are widely accepted throughout Australia.
Q: Is there any other way to bring money to Australia?
A: You may or may not choose to take cash with you. Another alternative is to get a prepaid card from a bank in your country. Load the card with the required Australian Dollars (AUD) and you will be able to use it for shopping.
You can also open an Australian bank account from overseas and transfer money into it so that you can use it after you arrive in Australia.
Read more about How to Open A Bank Account In Australia From Overseas.
Q: What is better – cash or prepaid travel card?
A: There is no definite answer. We recommend to open an overseas bank account and transfer money into it. Firstly you get your bank account in Australia. Secondly, you have access to Australian Dollars when you reach Australia. Thirdly you don’t carry the risk of taking too many currency notes with you. And lastly, if you bring a prepaid travel card you might have to incur additional transaction charges.
Q: Where can I buy Australian Currency?
A: You can visit any bank or licensed money changer in your town for buying Australian dollars. The exchange rate fluctuates every day and it is advisable to observe the trend over a couple of weeks before buying foreign exchange. You can check the currency exchange rate here.
You can also buy FOREX at money changers at the airport before you travel. Money changers are also available at all major airports in Australia.
Do you still have any questions is mind?
Do not hesitate to ask your friendly moving guide – Chalo Australia!