All of us are or have been working for a (high street) bank. Therefore it is quite obvious that we are interested in how to bank in Australia. We are happy to share our quick guide for finding the most suitable bank in Australia for you 🙂

Most important: Find out what’s important for you

For us it was keen that the bank we sign a contract with offers a free of charge account and a smooth internet banking app. Also an easy opening procedure was a crucial requirement. The location of the next branch was not that important for us. Based on this we started our research.

Free of charge Accounts for Students
Almost every bank we researched offers free of charge accounts to (International) Students.

Opening Account online
You can open your account easily online at several banks. Therefore the opening process is not a big distinguishing feature.

Withdrawal of money
Withdrawing money can be expensive if you use an ATM which does not belong to your bank. This made it possible for us to limit the scope of banks that we would choose from.

Internet Banking (App)
A working internet banking app was, besides the non-cost feature, the most important criteria for us.

Debit Card
Having a Debit / Credit Card (VISA or MasterCard) will enable us to shop online and pay cashless at any bigger store.

Which bank did we choose?
We have decided to go with ANZ – Australia and New Zealand Banking Group. The decision driver for us was the availability of a great looking app, a smooth online account opening process as well as the VISA Debit Card which is included in the overall free of charge Student Account. In addition to that you have unlimited transactions, a zero minimum balance and the next ATM is directly on our campus!

We hope this quick guide helps you on what to look out for if you want to open a temporary bank account 🙂

Cheers
Mike

3 thoughts on “How to bank in Australia

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