1. Commonwealth Bank of Australia (CBA)

 

• CommBank allows students to open a bank account up to 3 months in advance of arrival. [Everyday Account with Student Options - https://www.commbank.com.au/moving-to-australia/banking.html ]

• This only allows you to transfer money into the account before arrival. At this point, students will not yet be able to withdraw any money. 

• Upon arrival in Melbourne, students should head to a Commbank branch as soon as possible to conduct an ID check. **Passport, student ID/proof or enrolment, Tax Identification number and a copy of your welcome letter should be taken with you to the bank. 

• Your bank account will then be all good to go. 

• For as long as you are a tertiary student at an educational institution in Australia, no fees will need to be paid for your bank account. This waiver ends on the expiry date on your Student ID.

• Commbank is now the only bank that still has a branch on the Parkville campus. However, most of the other banks have many branches across the whole of Melbourne so accessing a branch should not be difficult. 
   

 

2. National Australia Bank (NAB)

 

• Similar process to Commbank. 

• Can begin by opening your bank account online. However, you will need:

1. To be 18 years of age

2. Your passport number, email address and Visa information

3. The date and city you’ll arrive in. 

• After arriving in Australia, you will need to visit a local branch to complete an ID check before you will be able to apply for a debit card. Must bring:

1. Primary ID (e.g. Passport or driver’s license)

2. Non-photographic ID (e.g. Birth certificate)

3. Secondary Document (e.g. Medicare card, recent utility bill)

• Note: Classic Banking Account and iSaver account available. iSaver account can only be opened together with a Classic Bank Account. Idea of iSaver account is a separate savings account upon which you can receive competitive interest rates. 

• No account fees for maintaining a NAB bank account. 

 

 

3. ANZ Bank

 

• Allows applying for an online bank account before arrival in Australia. Must have an equivalent to the Australian “Tax File Number” ready to complete application.

• Account will be opened with limited access but funds can be transferred into the account before arrival. 

• To withdraw money, complete transfers and payments, students must complete an identity check at an ANZ branch in Australia. 

• ANZ Access Advantage Account: No monthly account fees for the first 12 months and this remains ongoing if you’re under 25 or deposit $2000 a month. 

 

 

4. Westpac  

 

• ***Has currently suspended account opening for people outside of Australia due to COVID-19 travel restrictions set out by the Australian Federal Government. 

• Can Open a bank account online before arriving in Australia. 

• However, students will need to verify their identity at a local Australian Branch before they can access the full authorities of their account. 

• No monthly fees on the account while a full time student or under 21 in Australia