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Is it easy to open a bank account in Australia ?

Is it easy to open a bank account in Australia ?

Old Oct 4th 2009, 7:06 pm
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Default Is it easy to open a bank account in Australia ?

I have been looking in this forum and I believe that the best bank for me would be WestBank because it have no fees and it looks to have too many ATMs.
I could imagine that opening a bank account in Australia is easy. I could imagine that you go to a bank office for example at Monday 9 AM and an employee helps you to fill a short form, he receives your money and gives you your new debit card and that you leave the bank office at 9:30 AM with your new savings account created. Is it like I said ? Or is it more difficult to open a bank account ?

Thank you for any opinion
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Old Oct 4th 2009, 7:32 pm
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Default Re: Is it easy to open a bank account in Australia ?

You need 100 point ID to open an account. To check if you have 100 point ID, you may look at:
http://www.ocba.sa.gov.au/licensing/...100points.html
It's requirements are very similar to the Bank's 100 point ID req.

With the 100 point ID, you may open an account immediately.
You get the westpac bank card in the mail in a few days with an assigned PIN which can be changed to whatever you like at any westpac branch.

Regarding bank fees, I am not aware of any accounts that are free of bank fees with westpac except student accounts. There were a few posts here that listed the free accounts that are available with all the banks.

Regarding bank machines, it is changing rapidly, with banks agreeing with each other (no-fee bank machines). E.g.: HSBC/Westpac, NAB/REDIBank, etc.
Further, Australia Post (AP) can be used as well. AP has agreement with many banks (except a few like Westpac) to dispense cash. And in Australia, many stores can provide cash through eftpos.
HTH
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Old Oct 4th 2009, 8:08 pm
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Default Re: Is it easy to open a bank account in Australia ?

Originally Posted by tomcruise
You need 100 point ID to open an account. To check if you have 100 point ID, you may look at:
http://www.ocba.sa.gov.au/licensing/...100points.html
It's requirements are very similar to the Bank's 100 point ID req.

With the 100 point ID, you may open an account immediately.
You get the westpac bank card in the mail in a few days with an assigned PIN which can be changed to whatever you like at any westpac branch.

Regarding bank fees, I am not aware of any accounts that are free of bank fees with westpac except student accounts. There were a few posts here that listed the free accounts that are available with all the banks.

Regarding bank machines, it is changing rapidly, with banks agreeing with each other (no-fee bank machines). E.g.: HSBC/Westpac, NAB/REDIBank, etc.
Further, Australia Post (AP) can be used as well. AP has agreement with many banks (except a few like Westpac) to dispense cash. And in Australia, many stores can provide cash through eftpos.
HTH
That web page you make reference is from South Australia, I will go to Sydney, do I need a 100 points ID ?
I have a passport from my country and a certified birth certificate (It was certified in my home country and it has apostille from my home country). I guess those two documents sum 140 points and they will be enough to open a bank account ?
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Old Oct 4th 2009, 9:16 pm
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Default Re: Is it easy to open a bank account in Australia ?

Hi lotr,

my OH opened one when we were on hols a fotnight ago,(we're from the UK) he just showed his passport with his visa in and they opened him one straight away. As we dont have an oz address they sent the card and PIN to the local postoffice and we picked it up before we left. Can all be dealt with over the internet until we move across. He went with Netbank Commonwealth, they seemed quite good.

Hope this helps

Jo
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Old Oct 4th 2009, 10:19 pm
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Default Re: Is it easy to open a bank account in Australia ?

We opened our Commonwealth bank account when we were still in London.

Just made an appointment with the London branch and the account was ready for us before we arrived here.
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Old Oct 5th 2009, 1:12 am
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Default Re: Is it easy to open a bank account in Australia ?

Originally Posted by lotr
I have been looking in this forum and I believe that the best bank for me would be WestBank because it have no fees and it looks to have too many ATMs.
I could imagine that opening a bank account in Australia is easy. I could imagine that you go to a bank office for example at Monday 9 AM and an employee helps you to fill a short form, he receives your money and gives you your new debit card and that you leave the bank office at 9:30 AM with your new savings account created. Is it like I said ? Or is it more difficult to open a bank account ?

Thank you for any opinion
It takes a couple of days to a week to get the debit card sent out to you. It's sent to your residential address normally - the card is NOT generated on the spot.
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Old Oct 5th 2009, 2:21 am
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Default Re: Is it easy to open a bank account in Australia ?

you can open a HSBC australian account from your local HSBC in the UK, thats how I did it, although they are not as popular over here they have great interest rates and unlike the greedy aussie banks theres no fees. Been in aus 4 years and I still use the HSBC account
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Old Oct 5th 2009, 2:42 am
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Default Re: Is it easy to open a bank account in Australia ?

Originally Posted by dave99
you can open a HSBC australian account from your local HSBC in the UK, thats how I did it, although they are not as popular over here they have great interest rates and unlike the greedy aussie banks theres no fees. Been in aus 4 years and I still use the HSBC account
yeaj, because British banks are so charitable aren't they

I don't pay fees at Westpac, as long as my salary is directly deposited.
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Old Oct 5th 2009, 5:42 am
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Default Re: Is it easy to open a bank account in Australia ?

Originally Posted by sr71
yeaj, because British banks are so charitable aren't they

I don't pay fees at Westpac, as long as my salary is directly deposited.
Australian banks are the most weathly in the world, that money comes from charging its customers for every tiny thing !
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