Open your Australian bank account online before you travel to allow easier access to your funds.
Three types of accounts are available in Australian banks. Setting up your Australian bank account is a simple, straightforward procedure. Permanent relocation to Australia or a minimum 12-month stay in the country is required. Complete your account application online and receive your account documentation in five to 15 business days. Make deposits into your Australian bank account with electronic funds transfer. The bank must verify your identity to allow funds to be withdrawn from the account.
Instructions
1. Apply online to your selected Australian bank. Five major banks serve Australia and a few have services for applicants abroad. Banks offer three accounts: a day-to-day account that allows ATM withdrawals and bill payment services, a high-interest savings account in which the best rates are maintained by never withdrawing money from the account and a credit account that qualifies you for an Australian credit card. You must have Australian employment for a certain period of time to have a credit account. Take note of the fees associated with your chosen account.
2. Receive your account approval via mail service in five to 15 business days.
3. Verify your identity within 90 days of receiving your account approval. This allows you to transfer and withdraw funds. Go to a bank branch and present your passport and give your Australian address. If living in a short-stay residence, give that address to the bank. If you are not in Australia within 90 days, present your passport and a form provided by the bank to an Australian consulate for overseas identity verification. Mail your original form to the bank, and make copies of everything you send beforehand.
4. Get your bank card from the bank's customer service desk once you arrive in Australia. Give your tax file number, or TFN, to the bank if you have it. A TFN is required to work in Australia. If you have no TFN on file with the bank, once your account accrues a certain amount of interest, that interest will be taxed. Receive monthly bank statements at the Australian address on file or monitor your account online.
