Opening an Australian Bank Account
How to get set up in your first week — without the fees
You'll need a local bank account for wages, rent, and everyday spending. The good news: it's straightforward if you know what to bring.
Which Bank to Choose
The big four — Commonwealth, ANZ, Westpac, and NAB — all have student accounts with no monthly fees. ING and UP Bank offer great app experiences and no fees. Compare cashback offers and ATM networks before deciding.
What to Bring
You'll need your passport, student ID or CoE, proof of address (a letter from your university or a share-house lease), and your TFN (if you have one). Some banks let you start the application online before you arrive.
Avoid These Fees
Say no to monthly account-keeping fees — student accounts waive them. Avoid international transfer fees by using Wise or Revolut instead of bank wire transfers. Don't use other banks' ATMs if your bank charges a fee.
Getting Paid
Your employer will ask for your BSB and account number (found in your banking app). Make sure your bank account name matches the name on your passport and TFN registration exactly, or payroll systems may reject it.
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