MONEY

Australia has a decimal currency using dollars ($) and cents (c), with 100 cents to each dollar.

As with most currencies exchange rates vary daily.

Australian currency comes in the following denominations::

Notes $100 $50 $20 $10 $5

Coins $2 $1 50c 20c 10c 5c

Personal cheques are not common and are not generally accepted in shops.

Most shops and restaurants have EFTPOS (Electronic Funds Transfer Point of Sale), which enables you to pay electronically using your bank or credit card. As many people have several accounts on a single card, you will be asked which account you wish to pay from, ie cheque, savings or credit. Cheque and savings accounts are authorised electronically using a PIN (Personal Identification Number), and credit payments are authorised with a signature.