Opening a bank account is one of the first things every new migrant should do before coming to Australia. Australia is one of the very few countries that allows you to open a bank account from your home country. There are four main banks in Australia:
1. Australia and New Zealand Banking Group (or ANZ)
2. Commonwealth Bank of Australia
3. National Australia Bank (or NAB)
4. Westpac
Apart from the “Big 4” banks, there are other popular banks in Australia like Bank Of Queensland, Macquarie Bank, Bendigo Bank, AMP Bank, Suncorp Bank and Bankwest.
You can choose a bank by studying the benefits that they offer.
Know Which Is The Best Banking Solution For You?
All the main banks offer the convenience of opening a bank account from overseas. This allows you to access money in your bank account when you arrive in Australia.
The process to open a bank account is smooth and hassle-free and takes no longer than 15 minutes.
1. Apply online
Submit application with personal details.
Documents required for personal identification include date of birth, current place of residence etc.
This can be done up to 12 months before traveling to Australia.
2. Confirm Your Identity
An executive from the bank will call you to confirm your identity, and activate the account for money transfer from overseas. This allows you to transfer money from overseas into your bank account in Australia.
3. Travel to Australia
4. Activate Your Account
Visit any nearest bank branch within 6 weeks of arriving in Australia. Do not forget to carry your passport and visa grant letter to establish your identity. After your account is activated, you can start operating it.
While applying online select a bank branch that is close to your place of accommodation. Your starter kit will be kept for you at that branch. Visit the branch and activate your account.
You can alternatively open an account after moving to Australia.
If you have any more queries about how to open a bank account in Australia, please contact us and we will be happy to answer your queries.
