Arrival and Settling-in Guide for Melbourne, VIC

Melbourne offers a vibrant and diverse living experience, but it’s important to plan your finances wisely. Students typically require between AU$21,000 to AU$25,000 annually (excluding tuition fees) to cover living expenses. It's advisable to carry some cash for initial expenses but avoid holding large sums. You can find details on demonstrating financial support for your studies on the DoHA Subclass 500 Student Visa page.

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Currency exchange services are readily available at banks, foreign exchange offices, and airports. Additionally, ATMs operate 24/7, and major credit cards like Visa and MasterCard are widely accepted.

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Opening a local bank account soon after arriving is essential for managing finances and receiving overseas funds. Most banks offer student accounts with minimal fees. If staying longer than six months or earning an income, you’ll need to apply for a Tax File Number (TFN) through the Australian Taxation Office (ATO).