Banking

Even though Adelaide is one of Australia’s most affordable cities to live in, you’ll still need to have some money available. To easily access your money, it’s best to set up an Australian bank account. If you’re working while you’re studying, your employer can then put your pay directly into your local account.

 

Opening a bank account

If you’re looking for a trusted local bank, StudyAdelaide recommends ANZ Bank in Rundle Mall. You can even set up your ANZ account online before you arrive in Adelaide.

Once you get here, the ANZ team invite you to drop into the branch at 112 Rundle Mall, right in the centre of the city. Their friendly staff are waiting to talk to you about your money and banking needs and offer you a free A-Z Review of your finances. ANZ Bank offers you a complete range of financial services including:

  • Personal bank accounts
  • Business finance
  • Home and personal lending
  • Insurance
  • Superannuation
  • Investments
  • Foreign exchange

The Rundle Mall team can assist customers of all nationalities, with staff members collectively speaking Mandarin, Cantonese, Malay, Italian and Cambodian.

 

Currency

Australia’s national currency is the Australian dollar ($, A$ or AUD). Our colourful banknotes depict famous Australians and come in denominations of:

  • $5
  • $10
  • $20
  • $50
  • $100

Australian coins feature Queen Elizabeth II on one side and Australian imagery on the other. Coins come in denominations of:

  • Five cents (5c)
  • Ten cents (10c)
  • Twenty cents (20c)
  • Fifty cents (50c)
  • One dollar ($1)
  • Two dollars ($2)

If you need to exchange your home currency, there are many options in the city including the ANZ Bank in Rundle Mall.

 

Terminology

 

ATM Automatic teller machine found in many public places such as shopping malls, banks and pubs.
BPAY® A service that allows Australians to pay their bills using internet banking or phone banking.
EFTPOS A point of sale electronic payment system used widely in Australian businesses. You can use your debit or credit card to pay for things using an EFTPOS facility.
Debit Card Also known as an ATM card. This allows you to directly access the money in your bank account through ATMs and EFTPOS
GST he Goods and Services Tax that is levied on the supply of most goods and services in Australia. The GST is usually included in prices displayed in Australian shops.
payWave/PayPass payWave (Visa) or PayPass (MasterCard) are contactless payments and accepted at many locations across Australia. Contactless payment allows you to pay for purchases under $100 by tapping your card against the reader. There is no need to sign or enter your PIN.
PIN Your Personal Identification Number (PIN) is a four to six-digit number used as a security code to access your bank accounts when you use phone banking, ATMs or EFTPOS.
Savings account A day-to-day bank account which provides easy access to your money.

For more banking terminology, please visit ANZ’s glossary of terms.

Did you know...

Bank accounts for International students

Having an Australian bank account will ensure that you have easy access to your money to pay for your accommodation, tuition fees and living expenses and will allow your employer to deposit pay into your account if you choose to work