Setting up a bank account

Choosing a bank is not always straight forward so do your research online or drop into the branch to ask questions.

The four major banks in Australia are Commonwealth BankWestpacANZ and the National Australia Bank, but there are a range of other smaller, reputable banks including Bank of Melbourne, ING and Bendigo Bank to name a few. Each bank has different account options and products to meet your needs. We recommend you do your research before deciding on a bank. You might like to consider:

  • Number of ATMs available
  • Transaction and withdrawal fees
  • Setup fees
  • Ease of transferring money from home

For comprehensive information about opening a bank account in Australia visit this comparison site. You can also see:

Opening an Australian bank account

  • Outside Australia

    There are two banks in Australia that allow you to open an account outside of the country:

    National Australia Bank (NAB): Opening a bank account with NAB takes around 10 minutes to complete and takes up to three business days to finalise. You can transfer funds up to 12 months prior to your arrival and view your balance using NAB Internet Banking prior to your arrival. Speak with an expert who specialises in migrant banking once you arrive.

    • No monthly fees or no minimum monthly deposits
    • No ATM withdrawal fees at NAB ATM's across Australia
    • Your own NAB Visa debit card.

    Apply now or find out more

    HSBC: Access online banking or use debit cards, credit cards and cheque books. You can also get your cards delivered to your home or an address in your destination country.

    1. Complete the form or chat with a live agent for any enquiries
    2. HSBC will contact you when they receive your request
    3. You'll be asked to provide required documents
    4. Account will be opened in 2 days.

    Find out more

    To open a bank account from outside of Australia you will need:

    • The expected date of your arrival
    • Your proposed address while living in Australia
    • The details of your visa
    • Your current passport (with arrival date stamped by Australian immigration)
    • A Student ID card
    • Money to deposit into the account (this can be as little as $10).

    For more information, we advise you visit this comparison site or contact the banks directly.

  • Inside Australia

    To open a bank account in Australia you will need:

    • Your current passport (with arrival date stamped by Australian immigration)
    • A Student ID card
    • Money to deposit into the account (this can be as little as $10).

    Most banks will allow you to set up an account online, however each bank will differ.

    For more information, we advise you visit this comparison site or contact the banks directly.