Money matters
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Currency exchange
You can change your money at all banks during working hours. Currency exchange is also available at American Express and Travelex outlets throughout the city.
Transferring money from home
Money from overseas can be transferred into Australia via the following methods:
- Draft or mail transfer ( allow approximately 10 working days)
- Telegraphic transfer (allow approximate 4 working days)
- Direct debit to your bank account
Note that some countries may have restrictions on currency export.
More information on transferring money from home.
Managing your expenses
Keep track of your living expenses by preparing a budget. Additional costs that you may need to consider are:
- Rent
- rental bond equal to one month rent in advance (refundable)
- furniture and household items
- connecting and using utilities
- food
- transport costs
- phone and internet usage
- recreation/entertainment
- childcare/school fee
More information about managing your expenses.
Opening a bank account
The four major banks in Australia are ANZ, Commonwealth Bank, National Australia Bank and Westpac.
To open a bank account the following identification will be required:
- Passport
- Student identification number
- Tax file number (if available)
Supporting identification includes:
- RMIT offer letter
- International driver's licence
- Overseas bank statement
- Tenancy agreement or proof of address
More information on opening a bank account.
Tax file number
If you intend on living in Australia for more than six months or earning money or interest from your bank account, you must obtain a Tax File Number (TFN).
To apply for a TFN, refer to the Australian Taxation Office website. Once you obtain your TFN, advise your Australian bank to ensure that you are not taxed at the maximum rate
More information on tax file number.
Paying your tuition fees
You would have paid a deposit when you accepted your place. The remainder of your tuition fee is paid after enrolment. Each semester, we will mail you a tax invoice for tuition fees and other charges, which must be paid by the due date on your invoice. Tuition fees are charged per semester not per course. They remain the same whether you are enrolled in 36 or 48 credit points.