Money and exchange, Australia

When you arrive

Most will arrive at the airport - and it seems convinient to go there and change the first money. There is only one company placed in most of the airports (Sydney, Brisbane) called Travelex (www.travelex.com.au). Do not change with them - as it is horrible expensive. They have a huge margin by giving you a very bad exchange rate - and nevertheless the charge a commission additionally.

If you can wait till you reach a city you will make a complete different experience - there the world is back to competition and the banks have all similar exchange rates.

Cash - ec - credit card - traveller cheques

Cash is risky as you can loose it. But to always have some cash in your international currency makes sense, just because everyone will take it.

The ec card works well - and is normally the best and easiest way to get cash - at a normal ATM in combination with your PIN. Please check if your bank has a local partner in Australia - many of the big European and US-based banks have a local banking partner and this way you might get the cash without any fees;-)

Credit card is know to be the most expensive way of getting cash - avoid getting cash this way. But you can pay your bills (in Australia credit cards are very popular and accepted everywhere). What else to say about credit cards, the total system if funded by a commission the merchant has to pay, so sometimes you will get a reduction of 3% if you pay cash.

Traveller Cheques

Well, a classical way, but also not a very cheap way.