Let's talk about how to buy Australian dollars first.

1. First, you go to the Bank of China (other banks can also open an account (with passbook) and deposit a certain amount of RMB.

If you think the time is right and the exchange rate is right, you can go to the bank to buy foreign exchange. When you go to the bank, tell the clerk that you want to buy Australian dollars, and he will help you fill in some information, such as how much Australian dollars to buy. It's easy to fill out. Generally speaking, if you don't use it in a hurry, you will deposit it in your passbook immediately after you buy it. Then you come to the bank counter, and the clerk will buy the Australian dollar you want with the RMB in your account at the current exchange rate and print it in digital form on your passbook. (No handling fee is required. At this time, you will not be exposed to Australian dollar cash. This is buying foreign exchange.

3. If you need to withdraw Australian dollar cash one day, you can go to the bank to withdraw it, just like withdrawing money from the bank. It's just that you usually need to make an appointment one day in advance, especially when the withdrawal amount is large. Because the bank may not have that much cash at present.

Let's start with the exchange rate: /sourcedb/whpj/

Look at the link above, and you will see the buying price, buying price and selling price of cash.

Spot foreign exchange buying rate is the exchange rate when you sell the foreign currency in your passbook to a bank and change it into RMB. At this time, the bank buys your foreign currency and the price is relatively low.

The buying price of cash is the exchange rate when you sell foreign currency cash to a bank and exchange it for RMB. At this time, the bank buys your foreign currency cash, and the price is the lowest.

The above two prices are just like selling things to merchants or buying things you used. The price is definitely lower than when you buy things in the business.

The selling price is the exchange rate when you buy foreign currency from the bank, which is the highest among the three. Personal purchase of foreign exchange depends on this price.

There is also a benchmark price, I'm not sure. There seems to be no benchmark price for the Australian dollar.

Let's talk about paying tuition fees first.

People pay tuition fees for foreign universities at home, usually by wire transfer. As for what is wire transfer, you can check it again. Anyway, if you go to the bank and say you want to wire transfer, they will give you some forms to fill in, all of which are the school's account name, account number and wire transfer amount. You can't make mistakes. When you need to pay tuition, the school will send you this information. There is a handling fee for wire transfer, about RMB in 250 yuan, with a cap. After the wire transfer, some Australian dollars in your account will be transferred to the school. The essence is transfer.

Let's talk about the Australian dollar exchange rate.

Before the financial crisis, the exchange rate of the Australian dollar against the RMB almost remained above 6.5. At the end of last year, the Australian dollar began to plummet, falling below 6 and 5. . . . . . In recent months, I have seen that the lowest exchange rate is 4.29, and now it is basically maintained at around 4.5, basically 4.3-4.7. I suggest that when buying Australian dollars, do not exceed $ 10000 at a time, buy them bit by bit and pay more attention to the exchange rate (selling price).

Also,

In fact, you can bring a lot of Australian dollars in cash abroad. I have seen many people take 10000 dollars when they go out to study for the first time. No more than 10 thousand? No, it's just a declaration when entering the country. It's simple, no problem. As for the safety of carrying so much cash with you, you have to think about it yourself. I suggest at least 3000 per person. You can open a bank account there when you arrive in Australia. Then ask your family to wire you the Australian dollars you need, just like paying tuition. However, it should be noted that telegraphic transfer to external account must be done in person. If it is done on behalf of others, it will be very troublesome to notarize kinship and report to any bureau. Therefore, when you buy Australian dollars, you can let your family buy them with your family's account, which saves the trouble of transferring foreign currency to your family's account before you leave.

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I hope I can help you.