If you’re an international student planning to study in Australia it’s really important you have a bank account. Obviously you will need to be paying for your study and incidentals whilst you’re in Australia – so you’ll need a bank account.
When you’re opening a bank account, make sure you get the best student banking deal. Usually banks will offer a student discount or student rate, where fees are wavered whilst you’re studying.
Also make sure you look into the best interest rates. Even if you’re not planning on saving money whilst you’re studying, it’s great to know you’ll be making a little bit of interest. Many banks will offer online saving accounts, linked to your general account.
Whilst you’re with the bank opening your account, it’s advisable to open internet banking. Banks make sure that all your data is safe, so providing you’ve got a safe computer to log into your account with, you’ll be able to do your banking from the comfort of your own home.
When opening a bank account in Australia, you’ll need 100 points of identification. This is made of:
|70 Points||You can only get points for one item in this section|
| Drivers Licence (full / probationary / learner)|
Public Service Employee ID card
Commonwealth or State Government financial entitlement card (eg Pension card)
|40 Points||These cards must have a photograph or signature|
| Any card on which your name appears:|
Credit Card (only 1 per institution)
Store Account card
Video Store Card
| Documents on which your name and address appear:|
Records of another financial institution showing you’ve been a member for 12 months or more
Popular Bank in Australia (Open bank account for International Students)
Commonwealth Bank of Australia: The Commonwealth Bank of Australia has a great service to make moving to Australia easier. You can set up a student bank account and transfer funds all before you leave your home country. The Commonwealth Bank International Customer Services team is a multi-lingual team dedicated to assisting people moving to Australia to work, live or study.