Banking??

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Banking??


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Old 02-05-2012, 03:24 PM
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Banking??

having spoken to a few people i have known who have traveled to Australia they had already set up banking before leaving the uk. how many people on here have done this already, which banks did you choose and does it make things so much easier? I know a few banks etc charge transaction fee's is it better to transfer larger lumps sums rather than a few hundred pounds every other week?


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Old 02-05-2012, 07:38 PM
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All four big banks are quite similar - Commonwealth Bank, Westpac, ANZ and NAB. I don't know much about fees but it is usually better to transfer one large amount of money than go for a few smaller ones.


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Old 02-05-2012, 08:45 PM
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You can open accounts in Westpac and Combank

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Old 02-05-2012, 08:47 PM
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You can open accounts in Westpac and Combank from UK. I transferred everything in one hit. Be mindful of exchange rate. Aussie dollar is quite strong now, so transferring money on the day it gets weaker might cash you extra hundreds.

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Old 02-05-2012, 11:49 PM
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Hey Kate, I waited until I arrived to Aus to open my account with ANZ and it only took literally 15 mins - downside of this was though that I carried quite a bit of cash into the country which now that I look back could have turned out differently! You can find more info on banking here though: Australia Banking - Open an Australian Bank Account from home or on arrival What I would recommend is checking out the big 4 and deciding which offers the best rate in terms of transfer costs, banking monthly fees and how much access you are allowed to your account - 5 transactions per month etc etc...


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Old 02-06-2012, 12:09 AM
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That's guys for all your valuable info x


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