View Poll Results: Which Aussie bank is best, and why!?
ANZ
13
13.27%
Westpac
28
28.57%
HSBC
18
18.37%
Commonwealth Bank of Australia
23
23.47%
ASB Bank
0
0%
National Australia Bank
16
16.33%
Voters: 98. You may not vote on this poll
Which Aussie Bank is best and why!?
#61
Karoola!!!!!!
Joined: Feb 2007
Location: Karoola
Posts: 487
Re: Which Aussie Bank is best and why!?
can anyone tell me
i have savings over here in the uk and will not transfer it until the exchange rate changes in my favour ( if ever )
if i were to open an account with say hsbc ( or any other big world bank ) over here and deposit our savings into it if we then opened an account with the same bank on our arrival in australia could they then see how much we have saved with them and get easier credit say for a car and credit cards , basically can it work in our favour or does it mean nothing
i have savings over here in the uk and will not transfer it until the exchange rate changes in my favour ( if ever )
if i were to open an account with say hsbc ( or any other big world bank ) over here and deposit our savings into it if we then opened an account with the same bank on our arrival in australia could they then see how much we have saved with them and get easier credit say for a car and credit cards , basically can it work in our favour or does it mean nothing
Gary
#62
Re: Which Aussie Bank is best and why!?
Customer service is appalling and the number of cock-ups is numerous.
What's that? I worked for them therefore I was a bastard? Probably true ...
Oh, "positive experiences"? Hold on, I'll have a think.
#63
Banned
Joined: Aug 2009
Posts: 2,733
Re: Which Aussie Bank is best and why!?
How the hell is Westpac winning the poll!
Simply the worst bank I have ever been with. They don't care about their customers and provided poor service.
I am going back to a "foreign bank" probably HSBC.
Simply the worst bank I have ever been with. They don't care about their customers and provided poor service.
I am going back to a "foreign bank" probably HSBC.
#64
Banned
Joined: Aug 2009
Posts: 2,733
Re: Which Aussie Bank is best and why!?
Westpac Choice account waives the $5pm fee if at least $2,000 is deposited into account each month. (normal salary should cover that for many people)
Westpac Basic Account has no monthly fee, but is only available to those who also receive a government payment such as FTB. (that covers most parents)
I also like HSBC though, and have a couple of accounts with them as well (both fee free)
Westpac Basic Account has no monthly fee, but is only available to those who also receive a government payment such as FTB. (that covers most parents)
I also like HSBC though, and have a couple of accounts with them as well (both fee free)
Luckily I still have a UK credit card which I use when I go on holiday, which has no fees at all.
#65
Re: Which Aussie Bank is best and why!?
I am very happy with the new NAB Gold Bankling account I opened just before Xmas.
This includes free overseas ATM withdrawls + no commision fees, however the exchange rate was also a nice surprise. I withdrew cash from an HSBC ATM in London, checked xe.com at the time and the live market rate was $1.801. My £100 withdrawl cost me $180.53 i.e. a rate of $1.805....can't argue with that!
As I think I said before....NAB are removing monthly fees....for gold banking no fee if you deposit $5k a month, other accounts I don't think there is any deposit requirement.
This includes free overseas ATM withdrawls + no commision fees, however the exchange rate was also a nice surprise. I withdrew cash from an HSBC ATM in London, checked xe.com at the time and the live market rate was $1.801. My £100 withdrawl cost me $180.53 i.e. a rate of $1.805....can't argue with that!
As I think I said before....NAB are removing monthly fees....for gold banking no fee if you deposit $5k a month, other accounts I don't think there is any deposit requirement.
#66
Guest
Posts: n/a
Re: Which Aussie Bank is best and why!?
I used my Australian Woolworths Credit card for a UK Moonpig transaction the other day.
£7.18 cost me $13.30 all up, or $1.85 to the £. The Oanda Interbank average rate for the day was 1.82060
#67
Guest
Posts: n/a
Re: Which Aussie Bank is best and why!?
can anyone tell me
i have savings over here in the uk and will not transfer it until the exchange rate changes in my favour ( if ever )
if i were to open an account with say hsbc ( or any other big world bank ) over here and deposit our savings into it if we then opened an account with the same bank on our arrival in australia could they then see how much we have saved with them and get easier credit say for a car and credit cards , basically can it work in our favour or does it mean nothing
i have savings over here in the uk and will not transfer it until the exchange rate changes in my favour ( if ever )
if i were to open an account with say hsbc ( or any other big world bank ) over here and deposit our savings into it if we then opened an account with the same bank on our arrival in australia could they then see how much we have saved with them and get easier credit say for a car and credit cards , basically can it work in our favour or does it mean nothing
But then, if you don't have a bad credit rating, the fact that you have no history is no problem either.
#68
BE Enthusiast
Joined: Jan 2010
Posts: 440
Re: Which Aussie Bank is best and why!?
I'd put a positive vote in for St George, but my only point of comparison is the Commonwealth, which we found to be awful.
I have an ANZ Visa card and was very surprised to get additional charges when using the card abroad. So watch out for this.
The Oz banks have it easy and I don't think the market is that competitive, on the other hand they haven't "misbehaved" like their US and UK counterparts!
We have a St George offset mortgage thingy where anything you have in your current account or savings offsets your interest payments on the mortgage. There are fees for this but as long as you have sufficient funds then you are still ahead of the game.
The interest rate is quite competitive too: 5.98% at the moment. So I would recommend this.
I have an ANZ Visa card and was very surprised to get additional charges when using the card abroad. So watch out for this.
The Oz banks have it easy and I don't think the market is that competitive, on the other hand they haven't "misbehaved" like their US and UK counterparts!
We have a St George offset mortgage thingy where anything you have in your current account or savings offsets your interest payments on the mortgage. There are fees for this but as long as you have sufficient funds then you are still ahead of the game.
The interest rate is quite competitive too: 5.98% at the moment. So I would recommend this.
#69
Re: Which Aussie Bank is best and why!?
Ok is it easy to change banks if ours turns out to be a dud?
Was thinking either Westpac or Commwealth, so if they don't shape up, would it be the same as changing banks here in the UK?
Was thinking either Westpac or Commwealth, so if they don't shape up, would it be the same as changing banks here in the UK?
#70
The Brains
Joined: Oct 2005
Location: Dubai / Hervey Bay
Posts: 886
Re: Which Aussie Bank is best and why!?
Depends what type of visa you have.
If temp visa them HSBC won't issue a credit card without holding the amount of the credit card on deposit with them.
Westpac require a tax return and proof of funds before they will consider you for a credit card.
ANZ no problem - credit card given without any deposit with them.
These banks are absolutely ridiculous. You can fully own your house, car and have no debts yet they still refuse you a credit card as you have a temp visa regardles that it is for 10 years and renewable and that you have made Australia your home.
If temp visa them HSBC won't issue a credit card without holding the amount of the credit card on deposit with them.
Westpac require a tax return and proof of funds before they will consider you for a credit card.
ANZ no problem - credit card given without any deposit with them.
These banks are absolutely ridiculous. You can fully own your house, car and have no debts yet they still refuse you a credit card as you have a temp visa regardles that it is for 10 years and renewable and that you have made Australia your home.
#71
Re: Which Aussie Bank is best and why!?
Depends what type of visa you have.
If temp visa them HSBC won't issue a credit card without holding the amount of the credit card on deposit with them.
Westpac require a tax return and proof of funds before they will consider you for a credit card.
ANZ no problem - credit card given without any deposit with them.
These banks are absolutely ridiculous. You can fully own your house, car and have no debts yet they still refuse you a credit card as you have a temp visa regardles that it is for 10 years and renewable and that you have made Australia your home.
If temp visa them HSBC won't issue a credit card without holding the amount of the credit card on deposit with them.
Westpac require a tax return and proof of funds before they will consider you for a credit card.
ANZ no problem - credit card given without any deposit with them.
These banks are absolutely ridiculous. You can fully own your house, car and have no debts yet they still refuse you a credit card as you have a temp visa regardles that it is for 10 years and renewable and that you have made Australia your home.
Hmmm interesting/disturbing. We have PR visas. I suppose we'll shop around, if one doesn't suit us we'll move to another after a while.
Probably won't need CCards at first.
#72
Jenny
Joined: Apr 2009
Location: Bradford, but moving to Busselton WA in Sept 2010 (yay!!!!)
Posts: 79
Re: Which Aussie Bank is best and why!?
Quick update for those in a similar situation.
I decided to go with NAB since they were doing away with fees in Jan. However on their website when you try to apply they attempt to push you towards an Investment Account - with no debit cards, transaction fees, etc. Talking to their representative on the phone, the trick seems to be to select 'other' as visa type and tell them you want a classic banking current account instead. Not sure if it will work, but I thought I'd pass it on.
And no idea why they try to push an investment account when its a current account you need when you turn up...
I decided to go with NAB since they were doing away with fees in Jan. However on their website when you try to apply they attempt to push you towards an Investment Account - with no debit cards, transaction fees, etc. Talking to their representative on the phone, the trick seems to be to select 'other' as visa type and tell them you want a classic banking current account instead. Not sure if it will work, but I thought I'd pass it on.
And no idea why they try to push an investment account when its a current account you need when you turn up...
NAB were the most responsive - they quickly opened us an "investment manager" account - it's actually instant access, but no cards etc which we weren't bothered about then - only really need them when you actually go to live there.
The deal is that when you go to validate your visa (or move there fullstop), you let them know you're coming & set up an appointment in advance for when you arrive - they then prepared our cards etc for a new proper bank account to be collected in person so that they could check passport etc (and try to cross sell us things!).
All very smooth and easy. Once they've seen you and your ID, you can open any accounts you like (and track them on their internet banking which is efficient and user friendly).
Hope this helps
#73
Forum Regular
Joined: Oct 2005
Location: HR Country
Posts: 247
Re: Which Aussie Bank is best and why!?
is NAB winning per no Monthly fees?
how about other hidden fees, coz I've read on ANZ as they don't have any hidden fees, we just need to pay 5$ monthly fees.
how about other hidden fees, coz I've read on ANZ as they don't have any hidden fees, we just need to pay 5$ monthly fees.
#74
Forum Regular
Joined: Apr 2008
Location: Southampton
Posts: 270
Re: Which Aussie Bank is best and why!?
Good thread but I'm even more confused and undecided as before! We are heading to Perth in 6 weeks and we are just looking into bank accounts.
HSBC here tried to convince us paying £100 for the benefit of sending our credit report over was worth it - is it? Not sure my credit score is worth it anyway
What do the Aussie's call a current account? Is it a savings account? We don't want any credit cards, investments etc. we just need a basic everyday account and maybe a savings account for the kids.
HSBC here tried to convince us paying £100 for the benefit of sending our credit report over was worth it - is it? Not sure my credit score is worth it anyway
What do the Aussie's call a current account? Is it a savings account? We don't want any credit cards, investments etc. we just need a basic everyday account and maybe a savings account for the kids.
#75
BE Enthusiast
Joined: Jun 2003
Location: Melbourne, Victoria
Posts: 524
Re: Which Aussie Bank is best and why!?
From the limited options I would choose HSBC.