What Type of Money Is Used in Australia?
Australia’s official currency is the Australian Dollar (AUD), symbolized as $ or sometimes written as A$ to distinguish it from other dollar currencies. It is subdivided into 100 cents and is the only legal tender accepted across the country.
Quick facts about the Australian Dollar
- Currency code: AUD
- Symbol: $ or A$
- Subunit: 1 dollar = 100 cents
- Coins: 5c, 10c, 20c, 50c, $1, and $2
- Banknotes: $5, $10, $20, $50, and $100
- Issued by: Reserve Bank of Australia (RBA)
A bit of history
The Australian dollar was introduced in 1966, replacing the Australian pound at a rate of two dollars to one pound. Australia was among the first countries to switch entirely to polymer banknotes, which are more durable and harder to counterfeit than paper notes. This innovation has since been adopted by many other countries.
Using money in Australia
Everyday payments
- Cash is still accepted, but most Australians prefer card and digital payments. Contactless “tap-and-go” is widely available, even for small purchases like coffee or public transport.
- Visa® and Mastercard® are the most commonly used cards, and mobile wallets like Apple Pay® and Google PayTM are also popular.
Visa is a registered trademark of Visa International Service Association and used under license.
Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Apple and the Apple Wallet are trademarks of Apple Inc., registered in the U.S. and other countries.
Google Wallet is a trademark of Google LLC.
ATMs and banking
- ATMs are widely available in cities and towns, offering withdrawals in Australian dollars.
- International cardholders may face withdrawal fees, so checking with your bank before travelling is recommended.
Foreign currency
- Shops and businesses in Australia do not accept foreign cash like US dollars or euros. Travellers need to exchange their money into AUD at banks, airports, or exchange services.
Exchange rate and stability
The Australian dollar is one of the most traded currencies in the world, with its value often influenced by global commodity markets and trade. Exchange rates fluctuate daily, so checking the live rate before exchanging or sending money is important.
Key takeaways
- The official currency of Australia is the Australian Dollar (AUD).
- Coins range from 5 cents to $2: notes from $5 to $100.
- Foreign cash isn’t accepted, so AUD is essential for everyday spending.
- Card and digital payments are the norm, though cash is still used in some cases.
- Sending money through providers like Paysend ensures quick, secure transfers in Australian dollars.
The educational materials on this site are provided for informational purposes only and do not reflect the opinions of Central Bank of Kansas City, Member FDIC. Educational materials may contain links to content on third-party websites, which are provided for your convenience; please note that linked sites may have a privacy and security policy different from our own, and we cannot attest to the accuracy of information. The Central Bank of Kansas City does not guarantee nor expressly endorse any particular business, product, service, or third-party content.
Latest Posts
Sending money abroad should feel simple, but if your international transfer is delayed or not received, it’s natural to wonder what went wrong.
International money transfers can be delayed, held, or returned for several reasons, most commonly due to compliance checks, missing information, processing cut-off times, or intermediary bank reviews. Industry reporting suggests that while the majority of transfers complete successfully, a small but meaningful share requires manual handling or additional processing, which can cause delays.
It’s important to understand that international money transfers involve multiple institutions, compliance checks, and settlement systems. Because of this, delays or exceptions are not unusual and are typically linked to process or regulatory requirements rather than technical failures or user mistakes.
With that in mind, this guide explains why international transfers may not be received as expected, how often this happens and what you can realistically do next.
Following the earthquakes that struck Venezuela on 24 June 2026, Paysend is waiving its transfer fee on money sent to Venezuela for two weeks, from 25 June to July 9 2026, so you can support family and friends without paying a fee. Exchange rates apply as normal, and you'll always see the full cost before you send.
