Opening a Bank Account
To open a new account with an Australian financial institution, you will need to show ‘100 points’ of identification. This might include:
- Birth certificate
- Driver’s licence
- ATM card with another bank.
Each form of identification has a ‘points’ value, ranging from 25 to 100 points. Your identification documents need to add up to 100 points. To find out which documents count, and to make sure you’ve got the right documents on the day, talk to your bank and find out what you’ll need.
Major Banks in Australia
When applying for a bank account, always make sure that you have read and understand the terms and conditions of that account. Ask about the fees and charges, withdrawal limits and Internet/phone banking options.
Business hours for banks in Australia are different to other shops.
Banks are open:
- Monday-Thursday 9.30am to 4.00pm
- Friday 9.30am to 5.00pm
- Saturday and Sunday CLOSED
International credit cards such as MasterCard, Visa, American Express and Diners Club can all be used in Australia. Repayments to most card accounts can be made electronically by phone or Internet, however money usually needs to be transferred from an account within your home country.
For more information, visit the Department of Immigration or the Australian Bankers Association.