If you're moving to Melbourne from overseas, you will need to organise an Australian bank account for everyday transactions and paying bills such as rent and utilities. Follow these simple steps to set up your account:
1. Choose a bank
There are four major banks in Australia (ANZ, CommBank, NAB and Westpac) as well as a number of smaller, reputable banks. Make sure to do some research to consider:
- Transaction accounts made specifically for students
- Fees - including setup, transaction and withdrawal fees
- Online access
- Ease of transferring money from home
2. Complete your application
Once you’ve found a bank that suit your needs, you need to apply and provide them with your details and various documents. While some banks allow you to apply online, you will still need to visit a branch once you arrive in Melbourne to confirm your identity.
3. Provide documentation
While the documents you'll need to provide may vary depending on the bank and type of account you are opening, these may include:
- Your passport
- Your Australian residential address
- Your valid visa documents
- Your Confirmation of Enrolment (CoE) letter from your institution.