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Banking

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Choosing the right card - International student banking

Students are advised to open a student checking account for the duration of their studies in Australia. The Australian banking system is regarded internationally as a safe and stable system and there is a good choice of banks, building societies and credit unions for students to choose from.

Choosing a bank

Make sure you research the different banking options available to you. Ask the welfare officer at your institution for recommendations and also speak to friends to find out about their experiences with different banks. Also remember to shop around, as different banks offer different incentives for opening accounts. 

It is a good idea to choose a bank with a branch close to where you live and find out things like whether you can withdraw cash from other banks' ATMs, and whether you will have access to an overdraft. Many banks will offer an account specifically for international students. Some ATMs will charge users from non-member banks for withdrawing money or checking your balance. Be sure to check the fees when choosing a bank as these could add up. See a full list of ATM fees in Australia on www.finder.com.au.

Opening an account

Some banks allow international students to open accounts before arriving in Australia, enabling you to transfer funds prior to departure. If not, students are advised to open an account within six weeks of arriving in Australia. 

If you open a bank account within six weeks of arriving in Australia, you can use your passport as proof of identity and will need to have a local address. However, if you open an account after six weeks you may need to provide further identification, such as a birth certificate or a driving licence.

FURTHER INFORMATION

Arriving in Australia

Why Australia?

 Amazing Examples Of Modern Architecture In Australia

 Hear from international students studying in Australia on WhyStudyHere.com/Australia

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