It can be a little overwhelming when you are first trying to open an account in Australia, especially when you aren’t sure which bank to choose. There are a number of options, and you should really take your time and make sure you get it right.
Commonwealth Bank
The Commonwealth Bank has a website that explains the process of opening an Australian bank account. It also has a video that shows how to get started.
Getting an Australian bank account is not a difficult task. However, it is important to consider the various options available. If you are not sure what to do, the friendly consultants at the Commonwealth Bank are more than happy to help.
When it comes to applying for an account, you may need to present a valid passport. Other documents may be required, such as proof of address. You should also verify that you will be able to stay in Australia for a sufficient period of time.
ANZ
Australia is a great place to study, especially if you’re an international student. But you should have a plan in place before you arrive. This includes getting an Australian bank account.
In order to open an account, you’ll need some specific documents. You can find out what you need by checking with your bank. Depending on the type of account you want, you may need a passport, credit card, or even an international driver’s license.
There are two primary types of bank accounts in Australia. One is a standard consumer account, and the other is a savings account. Both accounts earn interest.
Depending on the account you choose, you’ll also need to provide some information about your line of work, where you plan to live, and your finances. Once you’ve made all the necessary information available to your bank, you can begin the process of opening an account.
CommBank
If you’re planning on coming to Australia, you can open a CommBank account to help you get started. They offer two different kinds of accounts, a savings account for people who want to save money, and an everyday transaction account for those who need to spend.
Both accounts are easy to set up and offer many financial wellbeing features. You can also use the CommBank app, which allows you to bank anywhere.
The app includes a host of useful features and fast customer service. You can also message CommBank staff and find out more about their products and services.
You can also send money to over 80 countries through your CommBank account. The app also lets you split bills and request and track payments.
Wise
Wisely offers a payment transfer platform that allows you to send money abroad quickly and easily. Their service can be used for personal or business use. You can open an account using a mobile app, your Facebook or Apple ID, or your Google account.
Unlike a traditional bank, Wisely does not mark up exchange rates. Instead, they offer a mid-market rate. This means that you can get the best possible conversion rate at no extra cost. It is important to note that Wisely does charge more for larger transfers, but they are transparent about this.
When you’re abroad, you can spend your money at an ATM using your Wise debit card. The card is linked to a multi-currency account.
Suncorp
If you are an overseas resident, you can open an account in Australia with Suncorp. You can also use Suncorp Bank’s Internet Banking service to send money abroad.
To open a Suncorp account, you can visit a branch, call a bank representative, or apply online. For personal accounts, you may be required to bring a valid driver’s license or Medicare card.
Business accounts are also available with Suncorp. Depending on the type of business, you can open a business account with a deposit of up to $1 million. However, you cannot open a Suncorp business debit card if you are a minor. In addition, you can only have one primary credit account and one primary debit card with Suncorp.
Transferring money from NZ to Australia
If you are moving to Australia from New Zealand you may need to find a way to send your money back home. There are several options available. However, before you select one, you should do some research. Besides the obvious bank transfers, there are also foreign exchange companies that are well suited for transferring your hard earned money from NZ to AUD.
The most convenient way to transfer money is through a money transfer service. These are regulated and offer a faster, simpler process than your local high street bank. Oftentimes, a money transfer service will provide the best exchange rate. Depending on the provider, you can choose between fixed or percentage-based fees.
