ktg

Opening an account

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    It's over 20yrs since I've opened an account so just wondering what documents I will need.

    Are there just banks in Oz or are there building societies too? I'm currently with nationwide building society in UK and have banked with them since I was 16.

    Which banks would you recommend?

    Starting to collate info about what I'll need to sort out long after arriving.

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    We've been with WestPac since we moved, opening our accounts from the UK. Can't remember what ID was needed - it'll be on their web page

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    To open an Australian bank account you have to prove 100 points of ID. This is the link on the Australia Post website that lists the invidual ID documents and the value of points they hold. https://www.instantchecks.com.au/100points.aspx This is standard throughout Australia whenever you have to provide 100 points of your ID in any situation.

     

    Many migrants open their bank accounts online before they get to Australia so that their cards can be ready for collection from the bank branch as soon as they are onshore.

     

    All the banks are very much of a muchness really, but you might want to have a look at them all online to see if one stands out above the others. The major banks are Commonwealth Bank, ANZ Bank, Westpac Bank, National Australia Bank, Bankwest. There are other smaller banks and also community owned banks such as Bendigo Bank and P & N Bank, but they have few branches, and as a migrant you would be best advised to stick to one of the major banks.

     

    Building Societies don't really figure much in WA anymore as a couple went bankrupt and others were bought out by the banks in the 1990's, but there are Credit Union Societies, and a list can be obtained via a google search.

     

    I am with Bankwest and have been since we emigrated in 1991 and cannot fault them. Bottom line though is that you can change banks at any time if you find the one you choose doesn't suit you.

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    Hi, we were put in touch with the Commonwealth Bank of Australia by our agent. We were contacted shortly after we got our case officer by an Australian lady working for the bank in London, and we called her after we got our visa. We opened an account over the phone, had to provide proof of id and address here we just emailed the passport and council tax docs from our visa application. We got emailed a form to sign and hey presto our cards are already waiting for us in fremantle! We plan to open a moneycorp account in the next couple of weeks and start putting some away so we have a little bit when we get there. This should also get our credit rating going. There is a $4 fee per month but this is waived for the first 12 months and free thereafter if we deposit $2000 a month, with free Atm withdrawals. While we are in the uk we can only deposit money, it is a Smart Access account,. If you would like the details of the Lady we spoke to, pm me and I will give you her phone number and email address. X

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    Thanks for all advice - we've decided to try nab. Free banking so until we get jobs this is a bonus! Filled our the application and as soon as we arrive we can pop along to show our documents (passport is all they've asked for) & our cards will be waiting for us!!

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    we were on holiday in mandurah. we walked into the NAB and flashed our passports.... bingo... 20mins later we had aussie bank accounts... simples.

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