BeachBassist

I'm carrying some cash to OZ and would like to asap put it somewhere safe until I am able to open a bank account.

Do the banks in OZ provide this service? How hard is it to get a safety deposit box and what are the charges?

Thanks

ozhappy981

If you can make it to a bank to open a safety deposit box, why not open the bank account there and then and put the money in????

For the first 6 weeks after arrival, all you need to open a bank account is your passport.

BeachBassist

really? I thought I needed a Tax File Number? I'm arriving unemployed but with savings.

Pollyana

No. You should provide the bank with your TFN once you get one, but you don't need one to open an account

BeachBassist

cool thanks. thats really good and helpful info.

edman

You can even open an account from the UK and transfere the money directly to your new account. Arrive with one more thing ticked of the list.

BeachBassist

Thanks. but the problem is I'm in the Bahamas.

ozhappy981

Erm ..... pick up the phone to open the bank account . Takes about 20 minutes over the phone with Westpac (but you can do it with Commonwealth and ANZ as well). You can phone them 24/7 .

Here is an old thread with step-by-step instructions (as well as opening the account you'll get internet banking and 'phone banking set up at the same time): http://britishexpats.com/forum/showthread.php?t=452418

As for exchanging money into Aus $$$ and putting it into your newly opened account: You can do this with pretty much any foreign exchange company. Popular one here on BE is Ozforex: www.ozforex.com

Swerv-o

I got the idea that the OP was bringing in bags full of cash, hence the need for the safety deposit box...


S

ozhappy981

Yes, that was the OP's plan. But he was planning this because he didn't know he could open an acccount from the Bahamas and transfer his cash safely.

Coming with $10,000 in your back pocket isn't exactly "safe". Too many people happy to help "carry" it for him .

Broad Shoulders

you weren't in Italy trying to get into Switzerland recently by any chance, were you?
http://britishexpats.com/forum/showthread.php?t=615434