Bank Account in Australia

To open a bank account in Australia is extremely simple and it is certainly one of the very first things to do when moving here.

To open a bank account in Australia is extremely simple and it is certainly one of the very first things to do when moving here.

In Australia, ATMs are easy to find anywhere and there are no minimum price to reach in order to pay with credit or debit card. Australian debit cards allow to pay as a credit, working as Visa and MasterCard. However, it can be used as credit card only if the account actually has funds.

The passport is the only document required to open a bank account in Australia, together with an home address where to receive the new debit card.

Nonetheless, there are some aspects to be considered when opening a bank account:

ATM spread on the territory
– The monthly tax for the account maintenance
– The chance to have a credit card
– The chance to request a travel card with value conversion.
– Functional mobile app
Customer service quality
Saver account to gain interests

Bank Monthly fee Savers Services
Commonwealth Bank - 0 if you deposit at least 2000$ (other fee may be applied); - 0 for Student Visa holders - Netbank: 2.55% first 3 months than 1.00%; - Goalsaver: 1.65% under 50.000$ - Travel card - ATM: more than 4000 -Mobile App rating 1
Nab - 0 - iSaver: 2,55% for the first 4 months; - Reward Saver: 2,5% with at least one deposit monthly and no withdrawals - Travel card - ATM: more than 3400 -Mobile App rating 2
Westpac - 0 if you deposit at least 2000$ (other fee may be applied) - eSaver: 2,51% for the first 5 months; - Lifesaver: 2,30% if you grow your balance each month. - Travel card - ATM: more than 3000 -Mobile App rating 4
ANZ - 0 if you deposit at least 2000$ (other fee may be applied) - 0 under 25 - Online Saver: 2.55% for the first 3 months; - Progress Saver: 1,71% with at least 10$ deposit monthly - Travel card - ATM: more than 2600 -Mobile App rating 3
St. George - 0 if you deposit at least 2000$ (other fee may be applied) - Maxi Saver: 2,85% for the first 3 months; -Incentive Saver: 2% per balance up to 100.000$ - Travel card - ATM: more than 10.000 -Mobile App rating 5

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