Australian Bank Account

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  • 1 Post By ozzy john

Australian Bank Account

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Old 08-15-2012, 09:21 AM
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Australian Bank Account

My Family has a plan to transfer in Australia,and my Mom ask me to find a good bank in Australia to open an account before arriving.Any suggestion please.

Suggestions is much appreciated.

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Old 08-15-2012, 02:19 PM
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All banks in Australia are heavy regulated and are of good standing. That's why we had no GFC so far.
You could try Westpac, Commbank, ANZ, NAB. These are the biggest banks. I would personally choose Westpac or Commbank.

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Old 08-21-2012, 04:38 PM
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Hi there,

The account you choose depends on a lot of things, Westpac are offering a good account at the moment which you can setup before you go. The following came from the ozultra backpacker website, hope it helps.


SOURCE: OzUltra - Australian Banking for the Backpacker

Minimum Account Requirements

When you are travelling around you are almost definitely going to need to make payments online/over the phone and in the shops. For this reason it's very important to open an account which comes with a Australian debit card and an online banking facility. Although this may seem obvious, even some of the major banks issue cards that don't have either of these capabilities!

So at the very least you will need the ability to make payments via EFTPOS, book by phone and manage your money online. Make sure you ask the bank clerk for exactly what your new account comes with.

Below is a list of recommended bank account requirements for a traveller...

A card that allows you to make payments with EFTPOS, online and over the phone.

Access to your account online 24/7.

An account with minimal or if possible NO monthly fee.

Lots of A.T.M's all over Australia (especially in the more remote locations).

An account with the least possible charges for transactions abroad.

An account with security alerts by phone (in case of fraudulent activity).

Also find out how much for a deposit required to open the account.

And how long it takes to transfer your money from your account overseas.

Which type of bank account should I open?

The account of choice for the traveller is what they call an 'everyday account'. Take a look around at the best deals offered by each bank and compare them against each other. Ideally it should include all of the things listed above for hassle free banking. If you are emigrating you may wish to get a 'saver account' with it.

robertM likes this.

Last edited by ozzy john; 03-22-2013 at 11:58 AM.

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Old 08-23-2012, 11:40 PM
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Commonwealth Bank is good for all around access when travelling.....even post offices act as agents.
Another easy idea is to use an AUD "travel cash" card which can be topped up online using BPay.
Just bring identification to the bank and have an address where they can send the debit card.
Travel cash cards can be issued at the branch.

Hope this helps.
Good luck


From the Kingdom of Cambodia to Australia.......

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Old 08-24-2012, 02:48 AM
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Westpac banking corporation have a good migrant package and web page. You can do a search for it.

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Old 09-04-2012, 11:38 AM
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i would suggest choosing commonwealth bank.
when i have previously lived in australia, i opened my bank account with them and still have one to do this day...i haven't had any problems with them and it's just been a breeze...
however other banks such as ANZ and Westpac are both leading banks in aus as well!

just personal preference

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Old 01-23-2013, 10:33 PM
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I opened a migrant WestPac account and it has worked well. I could not transfer money out of it until I went in-person to officially open it, but I could transfer money in before I arrived to Australia.

You cannot get a debit card until you have an address in Australia, but they will send statements internationally.

It was very easy to open, I'd recommend.

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