Which Bank?

Old Aug 10th 2008, 11:52 pm
  #31  
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Default Re: Which Bank?

We had a St George a/c for fifteen years or so before coming here and fully intended to carry on with it. But they cocked up so many things we gave up out of frustration.

It was later that we realised that they weren't much different to the norm!
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Old Aug 11th 2008, 12:30 am
  #32  
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Default Re: Which Bank?

Originally Posted by Swerv-o
Yes, have a look at the Citibank Citibank Plus account.
Is it possible to open this account from abroad?
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Old Aug 11th 2008, 3:35 am
  #33  
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Default Re: Which Bank?

Originally Posted by ossigeno
Plus HSBC, Bank of Queensland, Bendigo Bank, Citibank, BankWest.
...and Suncorp.
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Old Aug 11th 2008, 3:56 am
  #34  
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Default Re: Which Bank?

Originally Posted by islandergirl
There are 5 banks in Australia, Commonwealth, ANZ, NAB, Westpac and St George. The first four are the biggest and have the best ATM coverage. As far as everyday accounts it doesn't matter all that much, they will all offer a similar product, so choose whatever is convenient for you.
I originally went with ANZ but have just transferred to NAB - reason being that the ANZ don't do visa debit cards as standard with their account so to get a card I can use online which isn't a credit card I have to pay the monthly account fee and also the monthly debit card fee.

The NAB account is a gold one which automatically gives me a visa debit on a cheque and / or savings account!!!
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Old Aug 11th 2008, 2:43 pm
  #35  
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Default Re: Which Bank?

Thanks for your help everyone! I'm still however trying to decypher which bank has the fewer charges, in terms of me using my card in another banks ATM or using the chip and pin, or even applying for a Visa card.

Thanks again

Paul
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Old Aug 11th 2008, 7:49 pm
  #36  
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Default Re: Which Bank?

We went into my HSBC branch in the uk, asked for them to do a referral to the International Banking Centre here in the uk. They gave us some forms, filled them out went back to the branch with documents and filled out forms, they sent them via internal mail to the IBC, who contact HSBC Australia, opened online savings account, and have now received ATM cards, cheque book pay-in book pin's e.t.c...... and we haven't left for oz yet!
Did cost £100 though.... only cost £10 to transfer money from uk HSBC to oz HSBC (oh and $10 to recieve it!! )

no monthly charges either for online saver, some free transactions per month also
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Old Aug 11th 2008, 11:51 pm
  #37  
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Default Re: Which Bank?

We have been with HSBC since we arrived in Feb 07. Never had a problem with them and never paid any bank charges! Also have a Virgin credit card, got in before they stopped issuing them
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Old Aug 12th 2008, 12:55 am
  #38  
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Default Re: Which Bank?

Originally Posted by bigpaul
Thanks for your help everyone! I'm still however trying to decypher which bank has the fewer charges, in terms of me using my card in another banks ATM or using the chip and pin, or even applying for a Visa card.

Thanks again

Paul

Personaly, I don't think that you can beat Citibank for service. They don't charge any ATM fees at all, so you are free to use any bank's ATMs, even the private ones in the pubs, as many times as you like, how often you like.

The Citicard is also a Visa debit card, and comes on the account as standard - no faffing about with debit card fees or not having one at all.


Originally Posted by ozplumb
We went into my HSBC branch in the uk, asked for them to do a referral to the International Banking Centre here in the uk. They gave us some forms, filled them out went back to the branch with documents and filled out forms, they sent them via internal mail to the IBC, who contact HSBC Australia, opened online savings account, and have now received ATM cards, cheque book pay-in book pin's e.t.c...... and we haven't left for oz yet!
Did cost £100 though.... only cost £10 to transfer money from uk HSBC to oz HSBC (oh and $10 to recieve it!! )

no monthly charges either for online saver, some free transactions per month also

That is the advantage of HSBC - because they do the security check at a branch in the UK, your account is up and running instantly, so you can start using it immediately. There is no faffing about having to present yourself at the branch when you arrive to activate the account. This also means that you can start to earn interest from day 1 too, which is good if you are transferring a lump sum and following it later on...

I was very happy with HSBC, used them for over 18 months, and never paid a fee or charge. In the end though, I swapped to Citibank, as the terms and conditions for ATM withdrawals were slightly better, and the interest rate on the savings account was better too.


S

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Old Aug 12th 2008, 1:21 am
  #39  
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Default Re: Which Bank?

We're with HSBC mainly because we had a UK account and also opened a Singapore account to make it easy to swap money around. Also because they are fee-free for a current account and were relatively straight-forward to deal with on set-up.

Didn't realise there are about 4 ATMs in the whole of Sydney, but I've managed over 3 months without using one - I just get cash back when I use my EFTPOS card.
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Old Aug 12th 2008, 2:18 am
  #40  
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Default Re: Which Bank?

And you can get cash out at any post office anyway. I guess that's the same for all similar cards though? I've only once used the HSBC ATM - just to see if it worked!
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Old Aug 12th 2008, 2:25 am
  #41  
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Default Re: Which Bank?

Originally Posted by Wol
And you can get cash out at any post office anyway. I guess that's the same for all similar cards though? I've only once used the HSBC ATM - just to see if it worked!

Yes, you can, and they also offer a free Visa debit card version, so that you can shop online.

In my opinion, there really is no need to go with a fee charging bank, though that doesn't appear to be a popular opinion around these parts...


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Old Aug 12th 2008, 2:30 am
  #42  
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Default Re: Which Bank?

Originally Posted by Swerv-o
Yes, you can, and they also offer a free Visa debit card version, so that you can shop online.

In my opinion, there really is no need to go with a fee charging bank, though that doesn't appear to be a popular opinion around these parts...


S
I suppose it depends on what interest rate they give you on your account: another half a percent would more than compensate fora $5 monthly fee.
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Old Aug 12th 2008, 8:16 am
  #43  
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Default Re: Which Bank?

Originally Posted by Wol
I suppose it depends on what interest rate they give you on your account: another half a percent would more than compensate fora $5 monthly fee.

Hmm. Maybe you're right. Though I think that the best rates are currently being offered by the non bank banks - Bankwest, ING and the like.

That aside, there does seem to be an enormous amount of support for the fee charging big 4 as opposed to the fee free alternatives. It makes me ponder why people prefer to pay fees for their banking when there are viable alternatives.


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Old Aug 12th 2008, 8:55 am
  #44  
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Default Re: Which Bank?

It depends on what sort of account you're after. Bank West have got a really good interest rate on their savings account 8.5% - http://www.money-au.com.au/banking/index.php
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Old Oct 27th 2008, 12:12 am
  #45  
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Default Re: Which Bank?

Originally Posted by Swerv-o;
Originally Posted by Swerv-o View Post
Yes, have a look at the Citibank Citibank Plus account.
Originally Posted by polyama
Is it possible to open this account from abroad?
Hi Polyama,
I am currently trying to open a Citibank Plus Account from Ireland, I've completed the application online and forwarded certified copies of all the ID and signature forms that they requested for the 100 point check. (Yet more certification)
I'm still awaiting confirmation that the account has been setup as I need to transfer funds soon. I've done a deal with HiFx on Fri and they are looking for details of the Aus$ Account that I want the funds transferred to. Of course I need Citibank to give me the go ahead before I do this. Has anyone else successfully setup an account with Citibank before arriving in Australia.
Thanks,
Heamish
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