talk about how to buy Australian dollars first

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

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

3. If you need to take Australian dollars in cash one day, you can go to the bank to get it, just like a general withdrawal from a 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 so much cash at the moment.

Let's talk about the exchange rate: /sourcedb/whpj/

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

the buying rate of spot exchange is the exchange rate when you sell the foreign currency in your passbook to the 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 the bank and change it into RMB. At this time, the bank buys your foreign currency cash, and the price is the lowest.

The above two prices are just like you personally sell things to a merchant or the merchant buys things you have used, and the price is definitely lower than when you buy things from a merchant.

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, which I'm not sure about. There seems to be no benchmark price for the Australian dollar.

Let's talk about paying tuition

People pay tuition to foreign universities at home, usually by wire transfer. As for what is wire transfer, you can check it again. Anyway, when you go to the bank and say you want to wire transfer, they will give you some forms to fill out, all of which are the account names, account numbers and the amount of wire transfer of the school. You can't make mistakes. When you need to pay tuition, the school will send you this information. There is a handling fee for telegraphic transfer, which is about RMB in 25 yuan, and it is capped. 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 $1, at a time, buy them bit by bit, and pay more attention to the exchange rate (selling price).

Also,

Actually, you can take a lot of Australian dollars in cash abroad. I have seen many people take $1, when they go out to study for the first time. Not more than 1 thousand? No, it's just a declaration when entering the country. It's very 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 3 for everyone. When you arrive in Australia, you can open a bank account there. Then ask your family to wire you the required Australian dollars, just like paying tuition. However, it should be noted that telegraphic transfer to foreign accounts must be done in person, and it is very troublesome to notarize the kinship and report it to any bureau if it is done on behalf of others. Therefore, when buying Australian dollars, you can ask your family to buy them with an account in your family's name, which saves you the trouble of transferring your foreign currency to the account in your family's name before you leave.

that's all

I hope I can help you.