Frommer's Australia from $50 a Day 13th Edition - To Parent Directory

MONEY 33
6 Money
For American and European travelers,
Australia is very affordable because of
the perilous state of the Australian
dollar the past few years. Most travelers
will find money matters are relatively
easy in Australia, but beware the
small town where traveler’s checks
may not be readily accepted.
CURRENCY
The Australian dollar is divided into
100¢. Coins are 5¢, 10¢, 20¢, and
50¢ pieces (silver) and $1 and $2
pieces (gold). Prices often end in a
variant of 1¢ and 2¢ (for example, 78¢
or $2.71), a relic from the days before
1-cent and 2-cent coins were phased
out. Prices are rounded to the nearest
5¢—so 77¢ rounds down to 75¢, and
78¢ rounds up to 80¢). Bank notes
come in denominations of A$5, A$10,
A$20, A$50, and A$100.
The Universal Currency Converter
(www.xe.com/ucc) will give you
up-to-the-minute conversions for your
dollar or pound in dozens of countries.
It’s a good idea to exchange at least
some money—just enough to cover airport
incidentals and transportation to
your hotel—before you leave home, so
you can avoid lines at airport ATMs
(automated teller machines). You can
exchange money at your local American
Express or Thomas Cook office or your
bank. If you’re far away from a bank
with currency-exchange services, American
Express offers traveler’s checks and
foreign currency, though with a $15
order fee and additional shipping costs,
at www.americanexpress.com (& 800/
807-6233).
ATMS
The easiest and best way to get cash
away from home is from an ATM
(automated teller machine). The Cirrus
(& 800/424-7787; www.mastercard.
com) and PLUS (& 800/843-7587;
www.visa.com) networks span the
globe; look at the back of your bank
card to see which network you’re on,
then call or check online for ATM locations
at your destination. Be sure you
know your personal identification number
(PIN) before you leave home and
find out your daily withdrawal limit
before you depart. Also keep in mind
that many banks impose a fee every
time a card is used at a different bank’s
ATM, and that fee can be higher for
international transactions (up to $5 or
more) than for domestic ones (where
they’re rarely more than $1.50). On top
of this, the bank from which you withdraw
cash may charge its own fee. To
compare banks’ ATM fees within the
U.S., use www.bankrate.com. For international
withdrawal fees, ask your bank.
You can also get cash advances on
your credit card at an ATM. Keep in
mind that credit card companies try to
protect themselves from theft by limiting
the funds someone can withdraw
outside their home country, so call
your credit card company before you
leave home.
Most ATMs in Australia will be
linked to a network that likely
includes your bank at home, but in
Outback areas, carry cash and a credit
card because ATMs can be hard to
find in small country towns, and
Tips Small Change
When you change money, ask for some small bills or loose change. Petty
cash will come in handy for tipping and public transportation. Consider
keeping the change separate from your larger bills, so that it’s readily
accessible, making you less of a target for theft.