Currency in Norfolk Island: AUD Send & Spend FX Guide
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Norfolk Island with the Australian dollar.
What's in this Norfolk Island currency guide?
What currency is used in Norfolk Island?
The official currency of Norfolk Island (country code: NF) is the Australian dollar, with symbol A$ and currency code AUD.
What is a good Australian dollar exchange rate?
The BestExchangeRates.com currency comparison table below helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of rates, enter your transaction type, currencies and amount then click ‘GET RATES’:
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Good things to know about the Australian dollar
Here are some key facts about the Australian Dollar (AUD) that are particularly useful for travelers, expats, and business owners:
- Currency Denominations: Australia's currency includes banknotes in $5, $10, $20, $50, and $100 denominations, and coins in 5, 10, 20, and 50 cents, as well as $1 and $2.
- Polymer Banknotes: Introduced in 1988, Australia was the first country to use polymer banknotes, making them more durable and resistant to counterfeiting.
- Goods and Services Tax (GST): A 10% GST is applied to most products and services in Australia.
- Currency Declaration: If bringing more than $10,000 AUD (or equivalent) into Australia, you must declare it upon arrival.
- Currency Conversion: Coins cannot be reconverted upon departure, so it's advisable to spend or exchange them before leaving.
- Tipping Practices: Tipping is not compulsory in Australia; however, a gratuity of 10-15% is appreciated in restaurants if service charges are not included.
- Currency Availability: ATMs are widely available in urban areas, but facilities may be limited in remote regions.
- Currency Exchange Fees: Be aware of potential fees when exchanging currency, especially at airports or hotels, and consider using authorized outlets for better rates.
For more detailed information, you can refer to the official Australian government website. (australia.com)
For more AUD information check out our selection of Australian dollar news and guides.
Frequently Asked Questions
What currency should I use in Norfolk Island?
The domestic currency in Norfolk Island is the Australian dollar.
What is the Australian dollar currency code and symbol?
The three letter currency code for the Australian dollar is AUD — symbol is A$.
What does the Australian dollar look like?
Here is an example Australian dollar banknote:
Which countries use the Australian dollar?
It is the domestic currency in Australia, Christmas Island, Cocos Keeling Islands, Heard and McDonald Islands, Kiribati, Nauru, Norfolk Island and Tuvalu.
Is the Australian dollar a closed currency?
No, the Australian dollar is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and AUD?
Here are some popular conversion amounts for USD to AUD (US dollar to Australian dollar)*.
*Converted at the current USDAUD interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Travel money for Norfolk Island
Using Wise for Australian dollar travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Australian dollar otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Australian dollar cash before departure, you can save money by ordering online. You generally get better rates and can pick up the AUD cash locally or even on travel day at the airport.
Norfolk Island: Travel Guide
Traveling to Norfolk Island requires careful financial planning to ensure a smooth and cost-effective experience. Here's a comprehensive guide to help you navigate currency considerations and manage your money effectively during your visit.
Norfolk Island is a small island located in the South Pacific Ocean. It is part of the Commonwealth of Australia, and is one of two Australian external territories. The island is best known for its sandy beaches, coral reefs, and lush vegetation. Norfolk Island is also a popular tourist destination, and is home to a number of expats.
Best things to do and see in Norfolk Island
Among the best things to do in Norfolk Island are to explore the Norfolk Island National Park, to go snorkeling or diving at the Cascade Gardens, and to go fishing at the Norfolk Island Marine Park.
Top Travel tips for Norfolk Island
Norfolk Island is a beautiful destination with so much to see and do. Here are our top travel tips to help you make the most of your trip:
1. Plan your trip in advance
There is so much to see and do on Norfolk Island that it is important to plan your trip in advance. This will help you make the most of your time on the island and ensure you see everything you want to see.
2. Book your accommodation in advance
Norfolk Island is a popular destination, so it is important to book your accommodation in advance. This will ensure you have a place to stay when you arrive on the island.
3. Pack light
Norfolk Island is a small island, so you won’t need to pack too much for your trip. Pack light and only bring essential items with you to save space in your suitcase.
4. Bring comfortable walking shoes
Norfolk Island is a great place to explore on foot. There are many scenic walking tracks and trails to follow, so make sure you pack comfortable walking shoes.
5. Rent a car
renting a car is the best way to explore Norfolk Island. This will give you the freedom to explore the island at your own pace and discover all the hidden gems.
Is it safe in Norfolk Island?
Norfolk Island is a relatively safe destination, however, like any destination, there are always some safety concerns to be aware of. The most important thing to remember is to be aware of your surroundings and use common sense when travelling.
Everyday Costs in in Norfolk Island
How much does it really cost to live, work, or travel in Norfolk Island? Here's what to expect for daily expenses and expat living.
Currency Guide for Norfolk Island (ISO code: NF)
A traveler planning a week-long mid-range stay on Norfolk Island should consider budgeting approximately AUD 1,500 to AUD 2,000 (around USD 950 to USD 1,300) for a comfortable experience that includes accommodations, meals, and activities. Typical daily expenses to keep in mind are as follows: a meal at a local restaurant will set you back around AUD 25 (🍽️), while a cup of coffee costs about AUD 5 (☕). Public transport fares are approximately AUD 3 (🚌), and a prepaid SIM card can be obtained for around AUD 30 (📱). For accommodations, a budget hotel or Airbnb can range from AUD 80 to AUD 150 per night (🏨). Overall, Norfolk Island offers a fairly average cost of living for visitors, comparable to costs in Australia. When contrasted with the United States, you might find that meals and activities lean slightly cheaper, while prices are similar or a touch lower than in the UK.
For expatriates residing on Norfolk Island, the typical monthly living costs in local currency (AUD) can vary significantly depending on lifestyle choices. Expect to spend around AUD 1,000 to AUD 1,500 for rent and basic utilities, plus another AUD 500 to AUD 800 for groceries and dining out. For banking, it's important to note that local banks may have limited services, so using an international debit or credit card with low currency conversion fees can be economical. When transferring money, services like Wise and OFX often offer better exchange rates and lower fees than local exchange options. While it can be convenient to exchange money locally, if you plan to handle larger sums or frequent transactions, online transfer services are generally recommended for their competitive pricing.
USD/AUD Market Data
The below interactive chart displays the USD/AUD change and UP📈 DOWN📉 trends over the past 1 Year.
Recent Australian dollar Market News
Recent Developments Affecting the AUD
1. RBA Monetary Policy Decisions
- The Reserve Bank of Australia (RBA) left interest rates unchanged in its latest meeting, signaling a cautious approach amid global economic uncertainties. RBA
2. Commodity Prices Fluctuation
- Recent declines in key commodity prices, particularly iron ore and coal, have impacted Australian export revenues, leading to downward pressure on the AUD. Bloomberg
3. China's Economic Data
- Weaker-than-expected economic data from China, Australia’s largest trading partner, has raised concerns about future demand for Australian goods, negatively affecting the AUD. Reuters
4. Global Risk Appetite
- Increased geopolitical tensions and rising global inflation have led to a flight to safety, causing the AUD to weaken as investors prefer safe-haven currencies like the USD. Financial Times
5. Australian Employment Figures
- A surprising decline in employment numbers last month may prompt concerns over economic growth, affecting market sentiment toward the AUD. The Sydney Morning Herald
Stay tuned for continuous updates as these factors evolve and impact the currency market.
For more AUD information read our News and guides to the Australian dollar.
Send Money to Norfolk Island - Best Rates
To get a good (and fair) exchange rate when sending money to Norfolk Island you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to Norfolk Island
When sending money to Norfolk Island it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Australian dollar amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted AUD amount will be transfered to the recipient account you specify in Norfolk Island.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Australian dollar deposited into the recipient bank account and less margins and fees kept by the banks!
Managing money while living and working in Norfolk Island
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
Understand Australian dollar currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the AUD exchange rate and consider using a money transfer specialist or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Australian dollar bank account: A local AUD bank account can make it easier for you to manage your finances and pay bills while you are in Norfolk Island. It may also be more convenient to use a local AUD bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Norfolk Island. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Norfolk Island. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Norfolk Island, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
We have put together some key points to help managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Norfolk Island.
What is the cost of living in Norfolk Island?
The cost of living in Norfolk Island is generally higher than in other parts of Australia. However, this is offset by the island's low crime rate and its relaxed lifestyle.
How is the expat life in Norfolk Island?
The expat life in Norfolk Island is very relaxed and enjoyable. The island has a small population so it is easy to get to know people and make friends. There are plenty of things to do on the island and the locals are very friendly.
Any laws in Norfolk Island that foreigners should be aware of?
Visitors to Norfolk Island are advised to respect local customs and traditions. There are a number of laws that foreigners should be aware of, including a ban on bringing in fresh fruit and vegetables, and a requirement to quarantine all pets. It is also illegal to take photographs of military installations or government buildings.
What is doing business like in Norfolk Island?
Norfolk Island is a remote island in the South Pacific with a population of just over 2,000 people. The island has a limited amount of resources and a small economy. Doing business on Norfolk Island can be challenging due to the lack of infrastructure and limited resources. There are also a limited number of businesses on the island.
How is the economy in Norfolk Island?
The economy of Norfolk Island is small and largely dependent on tourism, with some agriculture and fishing. The island has no airport or airstrip. There is a limited amount of farmland, and most food and other supplies must be imported from neighboring countries such as Australia and New Zealand.