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Best way to take money

Travel Forums Australia / New Zealand & The Pacific Best way to take money

1. Posted by jaMes89 (Budding Member, 8 posts) 15 Aug '13 08:41

Hi everyone,

I arrive in Melbourne on the 29th of this month on a years working holiday visa, hoping to stay there till Christmas then travel up the east coast that's all I have planned really. I have never travelled like this before so I was wondering if anyone that has been or is going could suggest the best way to get your money over to oz?

2. Posted by Sander (Moderator, 4394 posts) 15 Aug '13 09:02

Withdraw an initial sum of money from an Australian ATM with your current bank card (enough to live on for about a week). Grumble about the fee your current bank will charge for that, but realize it's still cheaper than exchanging money. Then walk into any bank branch to open a bank account (I'm assuming you still need AUD $50 for an initial deposit). Then use internet banking (or someone trusted back home if you don't have your own laptop) to do a bank transfer of your money from your current bank account to the new Australian account.
After a week you'll have your debit card for the Australian bank account (give them your hostel's address to send it to), and can withdraw money locally with only minimal fees (depending on the type of bank account you opened).

[ Edit: Edited on 15-Aug-2013, at 09:04 by Sander ]

3. Posted by jaMes89 (Budding Member, 8 posts) 15 Aug '13 09:24

Thanks a lot for the advice, much appreciated