ATM cards
ATM cards are widespread in Australia. Depending on the
system that your home bank uses, you can most likely access
your personal bank account from abroad... ATMs get the same
wholesale exchange rate as credit cards get, but banks or
card issuers often place a limit on the amount of money you
can withdraw per day (around AU$500). Most importantly, computerized
withdrawal networks sometimes fail. There is typically also
a surcharge per withdrawal.
Be sure to memorize your PIN code in numeric form since
Australian ATM's often don't have letters on their keys.
Also, if your PIN is longer than four digits, ask your bank
whether you need a new number.
Electronic banking
The two major international money networks are Cirrus (US
800-424-7787) and Plus (US 800-843-7587).
Cirrus is the most widespread ATM network
in Australia and Plus is almost as frequent, Visa,
though probably third best, is still fairly common. Mastercard and American
Express are found less often and NYCE not
at all... The availability of ATMs are increasing in smaller
towns and rural areas, they are scarce in north Western Australia
and the more remote interior areas.
Visa TravelMoney (for emergency assistance
in Australia - 0800 450 346) is a system allowing Visa cardholders
to access money from any ATM with a Visa sticker on it; these
are quite common throughout Australia... You deposit an amount
of money in your account before you travel (plus a small
administration fee), after which you can withdraw up to that
sum. These cards, which give you the same favourable exchange
rate for withdrawals as a regular Visa card, are especially
useful if you plan to travel through many countries. Check
with your local bank or AAA chapter to see if it issues TravelMoney
cards.
Eftpos
Electronic Funds Transfer at Point Of Sale (EFTPOS) is an
extremely common way for Australians to pay for goods.
ATM cards (from Australian banks only) swiped
at the register double as debit cards, allowing you to
withdraw money directly from your bank account. What's
more, most
establishments
offer EFTPOS with a cash-back option,
cutting down on the number of transactions you must perform
and thereby saving you time and per-transaction bank fees.
Eftpos is useful for travellers because it means they can
carry less cash and not have to worry about credit card bills,
so if you'll be in Australia for a while, it might make sense
to open an Australian bank account... A permanent Australian
address and two or three forms of identification are required
to open an account — your home driver's license and
your passport are the most sure-fire bets — and you
can expect a routine check on your credit history... Providing
bank statements from home for the last three months can expedite
the process enormously; accounts can be ready in as little
as an hour. Banks accept cash or traveller's cheques as initial
deposits... to reference Australain bank telephone numbers,
see Australian Banks  |
