Dunedin

๐Ÿ’ฐ

Cash and Coins

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!