Global Major Cities Guide

The official currency used in the Gold Coast, including its denominations and practical tips for usage.

Sections

1. Local Currency Type

The official currency used in the Gold Coast, as in the rest of Australia, is the Australian Dollar (AUD). It is abbreviated as $ or A$ to distinguish it from other dollar-denominated currencies. The Australian Dollar is subdivided into 100 cents.

Banknotes: $5, $10, $20, $50, and $100.
Coins: 5 cents, 10 cents, 20 cents, 50 cents, $1, and $2.

The currency is colorful, durable (made of polymer), and features unique designs showcasing Australian history, culture, and wildlife.

2. Currency Exchange Options

If you’re visiting or moving to the Gold Coast, you’ll likely need to exchange your home currency for Australian Dollars. Here are the best options:

a. Currency Exchange Services

Airport Currency Exchange: Available at Gold Coast Airport, but exchange rates are typically less favorable, and fees may be higher.
Currency Exchange Offices: Companies like Travelex, Travel Money Oz, and other local providers operate in tourist areas like Surfers Paradise. These often offer better rates than airports but may charge a service fee.
Banks: Major Australian banks (e.g., Commonwealth Bank, ANZ, NAB, Westpac) provide currency exchange services. Rates are competitive, but you may need to have an account with them.

b. ATMs

ATMs are widely available across the Gold Coast, including at the airport, shopping centers, and tourist hotspots. Using an ATM to withdraw AUD directly from your home bank account is often convenient and cost-effective, though your bank may charge international withdrawal fees.
Look for ATMs operated by major banks to avoid excessive fees.

c. Credit/Debit Cards

Many credit and debit cards offer competitive exchange rates for purchases. However, check with your bank for foreign transaction fees.
Consider travel-friendly cards like Wise, Revolut, or a travel credit card with no foreign transaction fees.

d. Online Currency Exchange

Services like Wise (formerly TransferWise) or OFX allow you to transfer money to an Australian bank account at competitive rates.

3. Typical Costs of Goods and Services

The Gold Coast is a popular tourist destination, so prices can vary depending on the area. Here’s a breakdown of typical costs:

a. Food and Drink

Coffee: $4–$6
Fast food meal: $10–$15
Casual dining (per person): $20–$40
Fine dining (per person): $50–$100+

b. Transportation

Single bus/tram ticket: $4–$6 (depending on distance)
Daily public transport pass: $10–$15
Taxi ride (5 km): $15–$25
Rideshare (Uber, DiDi): $10–$20 for short trips

c. Accommodation

Budget hostel: $30–$50 per night
Mid-range hotel: $100–$200 per night
Luxury hotel: $300+ per night

d. Groceries

Loaf of bread: $3–$4
Milk (1 liter): $1.50–$2
Eggs (12): $4–$6
Fresh produce (per kg): $3–$10 (varies by item)

e. Entertainment

Movie ticket: $15–$20
Theme park entry (e.g., Dreamworld, Sea World): $80–$120 per person
Surfboard rental: $20–$40 per day

4. Methods of Payment

The Gold Coast is a modern city, and most businesses accept a variety of payment methods:

a. Cash

While cash is still accepted, card payments are far more common. Carrying a small amount of cash is useful for small vendors, markets, or rural areas.

b. Credit and Debit Cards

Visa, Mastercard, and American Express are widely accepted.
Contactless payments (tap-and-go) are extremely popular. Most Australians use cards or mobile wallets (e.g., Apple Pay, Google Pay, Samsung Pay) for everyday transactions.

c. Mobile Payments

Mobile payment systems are widely used and accepted at most businesses.

d. Bank Transfers

For larger transactions (e.g., rent, utilities), bank transfers are common. Australia uses the BSB and account number system for domestic transfers.

5. Tips on Avoiding Scams

While the Gold Coast is generally safe, tourists and newcomers should be cautious about the following:

a. Currency Exchange Scams

Avoid exchanging money with unauthorized street vendors or individuals offering "too good to be true" rates.
Always check the exchange rate and fees before completing a transaction.

b. ATM Safety

Use ATMs located in well-lit, secure areas (e.g., inside banks or shopping centers).
Be cautious of card skimming devices. Cover the keypad when entering your PIN.

c. Overcharging

In tourist-heavy areas, some businesses may inflate prices. Check menus or price lists before ordering or purchasing.

d. Fake Goods

Be wary of counterfeit goods sold at markets or by street vendors. Stick to reputable stores.

6. Considerations for Temporary Visitors

Prepaid Travel Cards: Consider using a prepaid travel card (e.g., Travelex Money Card) to lock in exchange rates and avoid carrying large amounts of cash.
Tipping: Tipping is not mandatory in Australia, but it’s appreciated for excellent service. A 10% tip is common in high-end restaurants.
Public Transport Cards: Purchase a go card for discounted fares on buses, trams, and trains.

7. Considerations for New Residents

Opening a Bank Account: If you’re moving to the Gold Coast, open an Australian bank account as soon as possible. Major banks like Commonwealth Bank, ANZ, NAB, and Westpac offer accounts for new arrivals.
Setting Up Payments: Many bills (e.g., rent, utilities) are paid via direct debit or BPAY (a popular Australian bill payment system).
Tax File Number (TFN): If you plan to work in Australia, apply for a TFN to avoid higher tax rates.
Cost of Living: The Gold Coast is generally more affordable than Sydney or Melbourne, but housing in popular areas like Surfers Paradise can be expensive.

8. Additional Tips

Keep Small Change: Coins are useful for parking meters, vending machines, and small purchases.
Check Exchange Rates: Use apps like XE or Google to monitor exchange rates and get the best deal.
Emergency Funds: Always have a backup payment method, such as a second card or some cash, in case of technical issues.

By understanding the local currency and payment systems, you’ll be well-prepared to navigate the Gold Coast with ease, whether you’re visiting for a short time or settling in as a new resident.