Dunedin

๐Ÿ’ฐ

Cash and Coins

Introduction to the physical currency denominations, from coins to banknotes, used in Dunedin.

Sections

Currency Overview

The official currency of New Zealand, including Dunedin, is the New Zealand Dollar (NZD), often symbolized as $ or NZ$ to distinguish it from other dollar currencies. The ISO code is NZD.

  1. Denominations:

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

  2. Design:

    • New Zealand banknotes are colorful and made of polymer, making them durable and resistant to wear. They feature prominent New Zealand figures, native wildlife, and cultural symbols.
    • Coins are metallic, with smaller denominations (10, 20, and 50 cents) being silver-colored and the NZ$1 and NZ$2 coins being gold-colored.

Practical Usage

  1. Cash Usage:

    • Cash is widely accepted in Dunedin, but New Zealand is increasingly moving toward a cashless society. Most transactions are conducted using debit or credit cards, especially contactless payments.
    • However, cash is still useful for small purchases, such as at local markets, food trucks, or in rural areas where card facilities may not be available.

  2. Coins:

    • Coins are frequently used for small transactions, such as parking meters, vending machines, or tipping (though tipping is not customary in New Zealandโ€”more on this below).
    • NZ$1 and NZ$2 coins are particularly handy for small purchases or as change.

  3. Banknotes:

    • Banknotes are used for larger transactions, but due to the widespread use of cards, you may not need to carry large amounts of cash.

Getting Cash

  1. Currency Exchange:

    • Currency exchange services are available at Dunedin Airport, banks, and some dedicated currency exchange offices in the city center.
    • Exchange rates at banks and official exchange offices are generally competitive, but airport rates may be less favorable.
    • Popular exchange services include Travelex and local banks like ANZ, ASB, and Westpac.

  2. ATMs:

    • ATMs are widely available throughout Dunedin, including at the airport, shopping centers, and major streets.
    • Most ATMs accept international cards (Visa, Mastercard, etc.) and allow you to withdraw NZD directly. Be aware of potential foreign transaction fees from your home bank.
    • Some ATMs may charge a small withdrawal fee, but this is usually displayed before completing the transaction.

  3. Credit and Debit Cards:

    • Cards are widely accepted in Dunedin, even for small transactions. Contactless payment methods like PayWave, Apple Pay, and Google Pay are also common.
    • If you plan to use your card frequently, check with your bank about international transaction fees.

Where Cash is Commonly Accepted

  1. Local Markets and Small Businesses:

    • Farmers' markets, such as the Otago Farmers Market (held every Saturday near the Dunedin Railway Station), often accept cash, though many vendors now also accept cards.
    • Small businesses, food trucks, and street vendors may prefer cash, especially for low-value transactions.

  2. Public Transport:

    • Dunedinโ€™s public buses (operated by Orbus) do not accept cash for fares. Instead, youโ€™ll need a Bee Card (a prepaid travel card) or pay using a contactless card.

  3. Tipping:

    • Tipping is not customary in New Zealand, including Dunedin. Service charges are typically included in the price. However, if you receive exceptional service, leaving a small tip in cash is appreciated but not expected.

  4. Parking:

    • Parking meters in Dunedin often accept coins, though many now also accept card payments or payment via mobile apps.

Cultural Considerations and Tips

  1. Cashless Society:

    • New Zealanders are accustomed to using cards for most transactions, even for small amounts. Itโ€™s common to see people paying for a coffee or a snack with a card.
    • While cash is still accepted, carrying large amounts is unnecessary. A small amount of cash (NZ$20โ€“NZ$50) is usually sufficient for emergencies or small purchases.

  2. Clean and Tidy Notes:

    • New Zealanders generally prefer clean and untorn banknotes. Damaged notes may not be accepted by some businesses, though banks will exchange them for usable ones.

  3. Rounding Rules:

    • New Zealand phased out 1-cent and 5-cent coins in 2006. As a result, cash transactions are rounded to the nearest 10 cents:
      • Amounts ending in 1โ€“4 cents are rounded down.
      • Amounts ending in 6โ€“9 cents are rounded up.
    • This rounding only applies to cash payments; card payments are charged the exact amount.

  4. Counterfeit Awareness:

    • Counterfeiting is rare in New Zealand due to the advanced security features of polymer banknotes. However, always check for authenticity when exchanging money at unofficial locations.

  5. Receipts:

    • Receipts are not always provided for small cash transactions unless requested. If you need a receipt, simply ask.

Final Tips

  • Plan for Emergencies: While cards are widely accepted, itโ€™s a good idea to carry a small amount of cash for emergencies or in case of technical issues with card payments.
  • Notify Your Bank: If youโ€™re visiting from overseas, inform your bank of your travel plans to avoid your card being blocked for suspicious activity.
  • Use Local Banks for Better Rates: If you need to exchange money, local banks often provide better rates than standalone exchange offices or airport kiosks.
  • Keep Coins Handy: Coins are useful for small purchases, parking, and tipping (if you choose to tip).

By understanding these details, youโ€™ll be well-prepared to handle cash and coins during your time in Dunedin, New Zealand. Enjoy your visit!