Mar 29 2010

Money Matters

What basic Financial things do you need to know about Australia ?

Banking, Insurance, various things like this can be complex to a newcomer to Australia, so I hope to add some basic information here, with links for more detailed information where needed.

Getting cash from your bank account

One of the most common methods of getting cash from your bank account these days is from the Supermarket.  Yes, you literally go shopping for your money.
About one in every three Supermarket Eftpos transactions now involves customers taking out extra money from their own bank accounts, saving the use of an ATM.  These transactions are free of charge to the customer.

  • Kmart allows Eftpos withdrawals of up to $400, whether you buy in the store or not.
  • Woolworths customers can withdraw cash without making a purchase at staffed and self-serve checkouts.
  • Big W, Coles and Target are also able to do the same.
  • Any Post Office is able to allow cash withdrawals for most Debit card holders.

Checking Interest rates

Cannex supplies varies comparison rates for the public to view, and Interest rates is one of these options.  They can be viewed at:

Price Comparisons

There are quite a few web sites that will run automatic price checks on almost anything that you wish to buy.  The results will show the retailers and the prices that are on offer.  You do need to check these prices with the actual retailer before relying on the accuracy though.  A few options are listed here:

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