Before you fly to Australia, one of the first things you need to know is the best currency to use in Australia and the smartest way to carry your money. This guide covers everything you need for a stress-free trip.
Also Read: How to Send Money to Australia: Step-by-Step Guide
Best Currency to Use in Australia – Australian Dollars
The Australian Dollar (AUD) is the official currency of Australia and is the best currency to carry from India for your visit.
Having Australian Dollars lets you travel easily across the country without having to look for a currency exchange counter.
Is it Better to Exchange Money in India or Australia?
It’s a good idea to convert your money into Australian Dollars (AUD) before you travel to Australia, while you are still in India.
You can buy AUD from many foreign exchange vendors in India, as this currency is in high demand. This will help you get the best exchange rate. Also, changing currency in tourist areas in Australia can be expensive.
How to Buy Australian Dollars in India
Here are the best places to get Australian currency (AUD) in India, safe and quick:
Option 1: Airport Exchange Counters
Indian and Australian airports have kiosks operated by well-known forex vendors. However, these vendors charge high exchange rates and fees because they pay high rent at the airports. Travellers often rush to get currency at the last minute, and these vendors take advantage of that.
Option 2: Banks
Most Indian banks offer currency exchange services for Australian Dollars. While banks are reliable, they usually charge higher rates and take longer to process transactions since foreign exchange is not their main focus.
Option 3: Currency Exchange Stores
You can find currency exchange shops in every city that sell AUD, many of which are nearby. They often offer good exchange rates. But be careful when choosing a store, as some may be scams and sell fake currency notes. Always choose RBI-authorised currency exchange outlets.
Option 4: Online Forex Aggregators
These digital platforms serve as a marketplace for foreign exchange, helping you find local service providers and compare their services. ExTravelMoney is one of the few online forex aggregators in India, operating nationwide. At extravelmoney.com, you can compare the rates for Australian Dollars from banks and RBI-authorised currency exchange outlets. You can do this from home and have the currency delivered right to your door, saving you time and money.
Pro Tip: Watch the interbank rate (rate shown on Google). This rate shows the average price for buying and selling two currencies at a specific time. Knowing this rate helps you decide if the extra fee charged by service providers is reasonable.
Check Today’s Interbank Rates
Best Way to Take Money to Australia
Get Australian Dollars in a combination of cash and a forex card, using a 20:80 split for easier payments and a lighter wallet. It’s best to buy a forex card and currency online through ExTravelMoney for a quick and safe service.
Currency Cash
- In Australia, you can mostly rely on cashless payments, as it is a developed country in terms of digital transactions. So bring only 20% of your total trip budget in cash.
- Use cash for payments at places that don’t accept cards.
- You can also use this cash for emergencies, taxi fares, or tips.
Forex Card
- Deposit the rest 80% onto a forex card in Australian Dollars.
- These travel cards offer better exchange rates than buying currency.
- Once you load the funds in AUD onto the forex card, the exchange rate stays fixed, protecting you from future changes.
- You can reload the card multiple times if needed and withdraw any leftover AUD after your trip.
- You can use the card at POS terminals in Australia and withdraw AUD from ATMs in the local currency.
- Unlike debit and credit cards, multi-currency forex cards do not charge for currency conversion or international use. Only a small fee applies for each ATM withdrawal. You can minimise this fee by reducing the number of withdrawals and taking out a larger amount each time.
Pro Tip: To prevent any last-minute rush, ensure you purchase the necessary forex products at least three days before your trip.
AUD Note Denominations
The denominations circulated in Australia are A$5, A$10, A$20, A$50, and A$100.
Here are the images of the latest series of notes in circulation:
Can You Use Indian Debit and Credit Cards in Australia?
Yes, you can use Indian debit and credit cards in Australia at ATMs and POS machines. However, be aware that there are high fees for international use.
As the Indian currency on your card is transacted in a foreign currency, the card service providers charge a markup based on the then-current exchange rate, which fluctuates and can be unpredictable.
Let your Indian bank know about your travel plans to prevent your card from being flagged for suspicious activity.
Debit Cards: Use your debit card only for emergencies, as they often incur high foreign transaction fees.
Credit Cards: Credit cards can be used more freely, but they also come with high fees. Always check with your bank regarding any charges or fees before travelling.
Bank Charges for Using Indian Debit and Credit Cards
| Card Type | Charge Type | Fee/Percentage of Transacted Amount |
| Debit Card | Foreign Transaction Fee | 1%-3% |
| ATM Withdrawal Fee | INR 150-INR 500 | |
| Conversion Fee | 2%-3% | |
| Credit Card | Currency Conversion Fee | 1%-3% |
| Issuer Fee | 1%-2% |
Pro Tip: Beware of the DCC (Dynamic Currency Conversion) charge, which is charged when you try to pay or even view your payable in home currency, while transacting abroad. DCC is applicable for credit, debit, and forex cards.
What to Do With Excess Australian Dollars After the Trip
After returning to India from your trip to Australia, you can exchange your Australian Dollars for Indian Rupees and cash out your forex card. You can get help with this from a forex service provider like ExTravelMoney.
How Much Currency Can You Bring In and Out of Australia?
The Australian government does not limit how much currency foreign travellers can bring into or take out of the country. However, if you are carrying more than AUD 10,000 in cash or other monetary instruments (except a forex card), you must declare it to Australian Customs. If you want to carry more than this amount, submit a hard copy of the online declaration form to the Australian Border Force or to a police officer at the airport who asks for it.
The key to stress-free spending in Australia is choosing the right mix of cash and forex products. With ExTravelMoney, you can compare rates from banks and RBI-authorised money changers, order online, and get the best value for your money before you travel.
Also Read: How to Calculate Your Budget for a Trip Abroad
Ann Mariya Job is the Associate Content Writer at ExTravelMoney.com. Holding a Bachelor’s in Journalism, she excels in creating deeply researched, engaging, and crisp content. Her work helps readers understand the complexities of foreign exchange, overseas money transfers, and international travel.
