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Australia

Opening an Account

Having a bank account is essential to leading a convenient life in Australia. As most transactions are conducted as electronic transfers, it’s important to have an account for your salary or other payments to be deposited into, and to pay your bills from (using BPay, as discussed in the Utilities Section).

As an expat new to Australia, you will be required to provide 100 points worth of ID. The points system may vary slightly from bank to bank, but is based on the relative merit (points) allocated according to the reliability of an identifying document. A bill for utilities in your name, showing your current residential address will generally warrant 10 points (ask your utility company for a pre-bill printout if you have yet to receive one). A passport will usually be worth 70 points, and additional points can come in the form of your credit card, or drivers license from your home country.

To apply for an account, it’s usually unnecessary to make an appointment, however you will have to visit in person. Visit the nearest branch of the bank of your choosing in person with the proper identification, but be prepared to spend up to 2 hours speaking with a bank representative, providing information and filling out paperwork. If possible, ask to setup phone and internet banking services in this initial visit. Som…