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Participants will not be able to open an Australian bank account. We recommend that participants use their ATM cards to withdraw money. Visa and MasterCard are the most widely accepted credit cards in Australia. Participants should notify their bank and creditors that they will be studying in Melbourne prior to their arrival. This will ensure that the bank does not enact fraud procedures and deactivate or lock the student's bank cards. Credit cards should be used wisely though, as the foreign transaction fees can add up quickly. We recommend students conduct research prior to departure to better understand how their bank cards will work abroad. Review this banking checklist (coming soon!) carefully to prepare for banking overseas.