SuperSeagulls

Hi there

I am going to open a Bank account during my validation trip and was wondering what one would be the best? I assume Commonwealth, ANZ and Wstpac are the big players, and I am looking for one with a high interest current account so I can deposit my bond payment interest cheque for 8months before retunring to Oz to settle early 2006.

From my time on a WHV I also remember they only allowed you to have a certain amount of 'free' cash withdrawals a month..is this the case still?

Also, online banking would be great..especially if it let me transfer money between itself and a UK bank!!

Any info, good or bad would be much appreciated..

Thank you

SS

4lex

St George seemed to be the best bet for us in terms of current account. For the high interest account I went with ingdirect (.com.au), and for transferring money online www.tranzfers.com seems to be one of the better choices. For small amounts (to 1k AUD per card per day), pulling cash from ANZ machines drawn against a nationwide flexaccount can't be beat - no commission and interbank rate for exchange. Would take a good while to pull house sale equity through though...

NJJ

Ho! Ho! you're having a laugh! I don't know of anyone in australia that gets much interest at all on their current account, if any. My ANZ current account pays zero interest but I get away with not having account fees that commonweath, bank of melbourne and national charge. they'll all charge for transaction fees as well the bastards.

If you're moving to victoria or tasmania have a look at bendigo bank. if your moving to another state people who live there will be able to advise you better.

NJJ

ABCDiamond

It depends on what you call a current account I suppose, but HSBC online account is a current account and pays 4.75%, and no monthly fees.

JackTheLad

Funnily enough, thats what I have. I believe you have to keep a minimum of $2000 in it to get the interest though.

Cheers,
JTL

pandya_m

Dont know much, but what I got to know from the review both this banks are superb...
· NAB National Australia Bank
· http://www.commbank.com.au * Common Wealth bank.

Hope it helps..

SuperSeagulls

Thanks for your input everyone...reckon they are all as bad as each other......think I'll just open a savings account first, but then I bet they wont allow you to do that without opening a current account first...

SS

pandya_m

Yeh it will be Wise is to open a Savings Account first and get going.

But you folks from UK are lucky that you have facility to transfer money w/o much headaches or costs to your home town.

Do anyone know is there any bank does have money transfer facility w/o much costs and headaches for India...???

All the Best mate.

pandya_m

To beat the statment that I said about CWB, please check this: http://groups-beta.google.com/group/...366ceb158d3118
the $ 150.-- is the fee the Commonwealth bank charges to
open the bank account...
:scared:

ABCDiamond

Not sure about NAB & CBA (I gave up using them years ago, too exensive), but HSBC & ING both allow you to open savings accounts without any other accounts.

hevs

www.ingdirect.com.au

www.hsbc.com.au

Both give you interest, both fee free

pandya_m

Thanks Mate. Do keep pouring the word of adivce from your vast experience...
Any clues about any bank does have money transfer facility w/o much costs and headaches to India...???

Bella3

I opened an instant access savings account with citibank - 5.5% interest. Can't remember exactly what the account is called but go on-line to www.citibank.com.au and it gives you all the details.

Wol

As has been said before, HSBC have their online savings account which is effectively a current account. It has chequebook, very good online facilities, outlets eveywhere you find a Post Office, etc. And it pays around 5% on all in the account, on a daily basis. No fees unless you go potty.

You have to keep a minimum of $2K to get the high interest, so we just stuck that in and "forgot" about it.

I think the BPay system is magic, BTW!

JackTheLad

[QUOTE=pandya_m]Dont know much, but what I got to know from the review both this banks are superb...
· NAB National Australia Bank
QUOTE]

'Superb' is not a word that springs to many aussies minds in the same sentence as NAB.

Bastards maybe...

Ooops, can I say bastards, oh just did

Cheers,
JTL