Studying outside Australia
Studying overseas requires careful planning and preparation.
Money matters
It's probably best that you research overseas banks on the internet before you go. And you'll need your passport and proof of address with you as ID to open one. If you have already got the bank in mind, and the address of one close by (and you can be bothered), then write ahead and open your account before you arrive.
Credit vs Debit
Credit cards - a credit card is handy but obviously you need to use it wisely. There are sevice fees and interest charges to consider, not to mention the danger and hassle of loss or theft. If your credit card is on the CIRRUS network, you can withdraw money from most ATMs. When you buy stuff the amount you are charged is based on the exchange rate on the day your bank processes the transaction. If the merchant is slow in submitting your charge slip, it could be a little bit more or less.
Debit cards - getting a debit card is easy. Basically if you qualify to open a bank account, you qualify for one. Unlike when you write a cheque, a debit card saves you the hassle of needing ID to pay for things plus it frees you from carrying cash or a cheque book. However, unlike a credit card, debit card transactions give you no grace period. They are a quick, pay-now deal and they can make balancing your account tricky if you don't keep receipts. And remember, the convenience can be costly, especially if you use an ATM not affiliated with your bank.
