Opening a Bank Account in Australia
Managing your finances efficiently is critical for a smooth transition to student life in Australia. Did you know you don't have to wait until you land to set up your banking? You can actually open an Australian bank account online up to three months before your arrival! Here is how you can get your finances sorted ahead of time.
Opening an account before you leave means you can transfer your tuition and living funds directly into your Australian account securely. When you arrive, you won't have to carry large amounts of cash through the airport, giving you instant peace of mind.
Australia’s banking sector is highly secure and dominated by four major banks, all of which offer fee-free accounts specifically for international students:
Commonwealth Bank of Australia (CommBank)
Westpac
Australia and New Zealand Banking Group (ANZ)
National Australia Bank (NAB)
Go to the website of your chosen bank and select the "Moving to Australia" or "International Student Account" section.
Fill out the online application using your passport details and your intended arrival date.
You will receive your new BSB (Bank State Branch) number and Account Number via email. You can now transfer funds into this account.
While you can deposit money into the account from overseas, you cannot withdraw money until you verify your identity in person. Once you land in Australia, simply visit a local branch of your chosen bank. Bring your original passport and your student ID (or university offer letter). The bank teller will verify your identity, activate your withdrawals, and mail your physical debit card to your Australian address.
Our counselors across Everest Global Education branches routinely assist students with their pre-departure financial setups. If you get stuck, just ask us!
Tags: #AustraliaBanking #StudentFinance #MoveToAustralia #InternationalStudents #EverestGlobal #EverestGlobalEducation #EverestGlobalEdu
Share this post
The latest news, technologies and resources from our team.
View all
