Which bank????
 

Reading the following statement, Things to do on a validation trip,
"Open a bank account (or two), especially ones without charges. You can do this as a new migrant with just your passport, in the first few weeks, without needing to meet the 100 points ID test.
With a non-Australian address, the bank should only need to deduct 10% Non-Resident Tax from the interest.
You can claim this as a credit on your U.K. tax return (against the interest income).

What is the best bank to open an account with.
We are doing our trip in August we are visiting family in Sydney and then going to Cairns.
But when we return we will live in Victoria (because of terms of our visas)

Any advice is greatly appreciated :)

"

Re: Which bank????
 

Each bank has different options, fees and accounts to suit everyone, so you should have a look at their sites to see which one suits you best.

They are all the same process to open one, very easy and same day.

Also try to stick with the big banks as you'll have no problems anywhere with ATM's etc. I used to be with St George Bank (and they were great) but when I moved to Canberra (or visited WA) their lack of ATM's made me move to a different bank ($2 fee using another banks).

So personally I find ANZ the best for me, and I pay no fees at all for my accounts. I'd recommend them and I've had no problems at all (but everyone is different).

The big banks are ANZ, Commonwealth, NAB and Westpac, so have a look on their sites and see what suits you.

Here:

http://www.anz.com.au/personal/
http://www.commbank.com.au/
http://www.nab.com.au/
http://www.westpac.com.au/

Good luck

Re: Which bank????
 

Do a search on this forum - this question comes up a lot!

Re: Which bank????
 

... and I never understand why. Banks are banks are banks... they are all pretty much the same.

Re: Which bank????
 

I'd probably go for NAB as I think all the others charge unless you deposit $2k a month (which you won't be doing unless you have an Aussie wage coming in)

I would worry to much about doing this though if you aren't going to be visiting the area you are living in. The 100 points for passport only is available for the first 6 weeks after migration so should be valid when you return permanently.

I wouldn't worry to much about interest tax deduction as unless you are depositing lots and setting up a savings account with a decent interest rate you aren't likely to get much interest.

Re: Which bank????
 

Yep, agree. Opened with CB before we came and they have been fine and are just that... a bank.

Re: Which bank????
 

Go for Bankwest. No fees whatsoever, for anything!

Re: Which bank????
 

I have an account with http://ingdirect.com.au/index.htm Not only do they not charge any fees for banking with them, they also give you the other banks ATM fee back if you withdraw $200+ and give you 50c as well :D

I love them. To set up an account all you need to do is register online, then you download a form, take it to the post office and they confirm your ID with just a passport. Card arrives within a week and away you go.

Re: Which bank????
 

I opened an account online with the NAB, couldn't have been simpler and we had an e-mail the next day with our account number, names of two people we should contact when we arrive and everything we needed to know about the account. No charges from this bank, several people on here recommended it so off I went!

Re: Which bank????
 

We also have decided to go with NAB, didn't really look much into it...as previously said a bank is a bank. NAB have no fees and seemed easy to setup from the UK, in fact I'm just about to transfer money into it and although you don't get online access until you verify your identity in Oz, your migration account manager will be able to confirm the transfer and balance.

Re: Which bank????
 

As I work for NAB I won't make any wild promises or statements about how wonderful we are. To be perfectly honest, I don't believe there is a great deal to choose between the banks, though we do seem to be offering lower fees across all accounts, products etc and are making a big effort to be more customer focussed.

If you need a contact I'd be happy to put you in touch with either our Migrant Banking Team or a local branch, whatever works. Just drop me a PM.

Good luck with the move !

Cheers
Col

Re: Which bank????
 

I bank with NAB now and am very happy with them. It's funny though cos I met a business analyst from NAB, and told them that; they proceeded to tell me they were quite surprised as they have very low satisfcation ratings! :D

Their IT has certainly had its moments of late.

On my account I never pay any fees and one feature that I really like is when I travel overseas I can withdraw from ATMs and they charge me nothing, and the rate I get is as near as dammit identical to the mid-market rate...it literally costs next to nothing (gold banking).

Re: Which bank????
 

Oooooh, you like to live dangerously, disclosing your affiliation with one of the big 4 on here! :eek:;)

Not sure what department you work in but I'll ask anyway. Is it normal for Nab to take over 4 weeks to process a credit card balance transfer? Cos we're getting annoyed!:sneaky:

Re: Which bank????
 

Despite working in Risk Management I like to live life on the edge !

We've had an incredible response to the fees, mortgage rates and now the break up campaign (but don't get me started on that). I suspect that the volumes have creeped up somewhat !

Send me a PM and I'll look into it.

Cheers
Col

Re: Which bank????
 

Oh I work for the NAB and can also help with Paypal, Visa and Mastercard queries. Just forward your full account details (card number, expiry date etc) and I'll help out.

Seriously, Mr Nab guy - offering help on a public forum is kinda stupid - are you in Australia or based in their Nigerian branch? There are formal methods of communication that should be followed and support queries via PM are not the way to go. If you work in risk, then you are certainly a risk to the bank. If this approach is typical then I would run a mile from NAB.

Re: Which bank????
 

Possibly a bit harsh,it may be a genuine offer.BUT,all in all a very wise post ,well done.

Re: Which bank????
 

Frankly flabbergasted at your ignorant response. I've been on this forum for 6 years, almost a 1,000 posts and a good reputation. Provided plenty of offers, advice and help over the years and lots of thanks and PM's sent in response.

Thankfully I'm a decent, genuine bloke offering to help someone not a cretin like you.

And since you appear to be such a risk expert pray tell quite how this is a risk to anyone ? What exactly have I asked for ? At no point have I (nor will I) ask for anything other than the name of the individual - IF they want my help.

I haven't promise to resolve things simply to look into it and put the individual in touch with the right people at the bank.

Alternatively I could simply ignore it. Take your pick.

Clown.

Re: Which bank????
 

Seriously you are way out of order here.

By asking "Send me a PM and I'll look into it" how do you know what information the person will choose to share with you? By the nature of the enquiry raised here, I would expect to receive the account number as a minimum to be able to 'help'.

As someone in a risk department, surely you can see the risks involved here to potential bank customers. By all means tell them who to contact, but don't solicit communication across an unencrypted insecure website.

You *may* work for the NAB but who knows? I'm sure all the Nigerian fraudsters also claim to be a decent genuine blokes.Whilst you may be following a path of good intentions, we all know where that can ultimately lead - and I'd suggest a potential clip of the ear at best, and loss of employment at worst.

Maybe I'm a clown, but I'm a clown that has previously worked for a UK bank for 15 years including several years in a Fraud Prevention department.

Re: Which bank????
 

I think you are overreacting a tad.

There was no way I was going to give anybody my account details or even my full name by PM!

To be honest, isn't it down to us to protect our data anyway? All Haggis did was to offer help. It is up to me to take him up on it, and to choose to trust him or not and to decide what to tell him. He did not ask me for any personal details, and if he had I would have run a mile.

As for all the scammers out there, the only reason their scam works is because people are not careful, even maybe stupid, and don't check what's what before disclosing their details. I have stopped counting the number of emails I have had from all manner of "banks" asking me to log in to re-activate my account. I am wise enough to know to ignore them. And even if genuine, I will always ignore or ring the bank to check before I do anything. I also have a very good anti-virus/firewall that blocks all these fake sites so even if I actually go and check them out (I do it for fun sometimes :eek:), I get flashing windows all over my screen warning me. It is up to me to choose to ignore all the warnings and if I get scammed, I am to blame. Over the internet, nobody is pointing a weapon at you, forcing you to do anything.

Give us some credit please!

And yes I know that even on here, there are people naive enough to post personal details. They need to educate themselves. And thank god the mods do a good job of monitoring the site and keeping private info private.:thumbup:
But again, it is posters' responsibility to keep their details private, nobody else's.

Re: Which bank????
 

I agree...a bank is a bank is a bank !
The ones who dont charge fees usually find a way to claw it back somehow.

I went with Westpac...because they are Red :thumbup: and I like Red !!

I travel up and down the coast a lot and its good to be with a bank that has plenty of atm's. Some banks dont have that many and do charge a lot to withdraw.
You have to remember that this is a huge country, when you get out in the sticks theres not many small banks gonna put an atm out there !

Re: Which bank????
 

Perfectly valid reason in my opinion. :D

United fan by any chance?

Re: Which bank????
 

I'm out of line ? What have you been drinking ? I make a genuine offer to help and you call me stupid, a risk to my bank and to avoid NAB. One look at my BE profile etc would show you that I'm clearly not a nigerian fraudster :rofl:. But then again folk like you find it easier to criticise.

For your information I've been in banking for 21 years, 13 in risk. I've worked for 2 Investment Banks and a Retail Bank in the UK so I know what I'm talking about. How does "send me a PM and I'll look into it" translate into send me all you personal details so I can rip you off ?

If anyone was stupid enough to send me (a complete stranger) their personal details then is that my fault ?

Perhaps I should have just ignored the original question that was initially directed at me and let the lady take her chance with the calls centres and the process. Alternatively I ask a simple question in the bank, find out who is dealing with this issue and pass the name of the banker onto the lady who just sent me a PM. Please enlighten me - how is that a risk to anyone ? I don't even need to know the individuals name. Easy to see why you're not working in banking anymore, you haven't got a clue.

And its idiotic and ignorant folk like you that makes BE such a frustrating place. First reaction is to attack.

Re: Which bank????
 

I went with Westpac too, decided to stick with them considering 6 weeks after we arrived they gave me a job :D.

Could be a Liverpool fan :sneaky::D Oh and have I taken the piss out of you yet????

Re: Which bank????
 

Could well be a Liverpool fan, but as his location is "Manchester, heading to the Gold Coast" what do you think the chances are? :)

It must have been nice to win your game of the season... I'll just settle for being top of the league, semi-final of the Cup and quarter finals of the Champions League... shouldn't Braga about it though. :p

Re: Which bank????
 

:o:lol: Perhaps he's lost!

Yada yada yada! :p

Re: Which bank????
 

As far as I can see yours is really no different from the offers made on here by representatives of companies such as Ozforex - or even offers made by me to pass people's details onto the correct SES group. Its a friendly gesture which helps people out by putting them in touch with the right people....and isn't that the kind of thing which BE is here for? :thumbup:

Re: Which bank????
 

Thanks Polly - the voice of reason again. I was beginning to wonder why I bothered ! :)

Re: Which bank????
 

Things in banking have obviously changed since I worked in the industry. We didn't call potential customers "cretin, clown, idiotic and ignorant".

I'll agree to disagree.

Re: Which bank????
 

Well perhaps you shouldn't respond to a clearly obvious offer to help by calling someone you don't know stupid etc etc.

End of subject. I'm off to board my plane to Lagos.

Re: Which bank????
 

hey Just logged on to look at the post that I started a few days ago, thanks for all the replies.
I didn't think I would start such a debate:eek:

Re: Which bank????
 

..but which bank are you going to pick? :D

Re: Which bank????
 

I will compare them on the net now,
may go for the Bank of Lagos lol

Re: Which bank????
 

I work for the Bank of Lagos and can get you a good deal! :)

Re: Which bank????
 

I knew I'd be able to help you :thumbsup:

Re: Which bank????
 

absolutely ! :thumbup:

and judging by the success we'd had over the last 20 or so year...we are above having the piss taken from us !! :thumbup:

we laugh at loserfools !! lol