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how do open a bank account in oz without being a PR

how do open a bank account in oz without being a PR

Old Apr 10th 2008, 10:56 pm
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Question how do open a bank account in oz without being a PR

hi there, my OH is in ozs at the mo and we are hoping to get a sponsor for his trade. Can anyone give me any info on whether he could get an a/c there now or do you have to be a PR to do this?
many thanks in advance
Jodie x
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Old Apr 10th 2008, 11:06 pm
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Default Re: how do open a bank account in oz without being a PR

Originally Posted by jodie_dirk View Post
hi there, my OH is in ozs at the mo and we are hoping to get a sponsor for his trade. Can anyone give me any info on whether he could get an a/c there now or do you have to be a PR to do this?
many thanks in advance
Jodie x
In the search box type in open bank account in Aus. Comes up with quite a few threads. Been reading them myself recently. Or to my right in the advertising box this link popped up
http://www.westpac.com.au/internet/p...igrant+banking
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Old Apr 11th 2008, 2:10 am
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Default Re: how do open a bank account in oz without being a PR

i work for the commonwealth bank. he can open an account without having PR. he needs to take 100 points of ID. if from uk a pasport, driving licence and uk bank card will be enough. Bear in mind there is normally a monthly account keeping fee $4 per month for a basic account and non resident witholding tax will be charged to any interest earned (48%)

hope this helps
el
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Old Apr 11th 2008, 3:32 am
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Default Re: how do open a bank account in oz without being a PR

We were on our looksee a couple of weeks ago, walked into HSBC with our passports, and opened an account on the spot.

(Check them out - their basic internet-banking account seems relatively fee-free. We already had an HSBC account in the UK and have since opened one in Singapore, to make transfers easier.)
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Old Apr 11th 2008, 4:19 am
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Default Re: how do open a bank account in oz without being a PR

I'd agree HSBC do a pretty good fee-free banking service. Whatever you do steer well clear of the 'Australian' banks - They'll charge you for every time you even think about money!! (I have no idea why they're still in business?! Why dont people LEAVE them?)
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Old Apr 11th 2008, 11:08 am
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Default Re: how do open a bank account in oz without being a PR

When I was travelling I walked in to ANZ and opened an account on the spot. They delivered the cards to the branch for me and that was that. I still have the account now (savings account so I already have a savings history when/if we ever get there!) and they post all ours statements, new cards, etc to the UK and we pay no monthly fees at all...
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Old Apr 11th 2008, 10:49 pm
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Default Re: how do open a bank account in oz without being a PR

I opened a Westpac account when on holiday in Oz last summer. It was very easy and straight forward. Westpac also offer online banking. They charge $3 a month, but I believe that is standard for Aussie banks.
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Old Apr 12th 2008, 1:36 am
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Default Re: how do open a bank account in oz without being a PR

Originally Posted by BroomeChick View Post
They charge $3 a month, but I believe that is standard for Aussie banks.
This is why they can get away with charging - people think it is "standard" and do not shop around ! !
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Old Apr 12th 2008, 6:09 pm
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Default Re: how do open a bank account in oz without being a PR

Whilst it may seem odd to pay fees for bank accounts and for every transaction/withdrawal, in the UK these fees are often just added in to the cost of the shopping that you buy. For instance if you shop in a supermarket you will find that around 2.5% of the cost is for "card handling services" even if you pay in cash!!! So I believe, although am happy to be corrected, that in some other countries where you pay the fee to the bank these charges are not added on to the cost of the shopping (well not openly anyway). So its may seem odd, but its just a different business model.

That said, there are some banks and some accounts which do not attract charges, but there may recover their costs in other ways, such as lower interest rates on savings or higher charges on overdrafts and loans. It is not as simple as to just pick on fees and nothing else, you will need to look at the bigger picture and choose a bank and account type that suits your particular situation.
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Old Apr 12th 2008, 8:16 pm
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Default Re: how do open a bank account in oz without being a PR

Originally Posted by camel1 View Post
non resident witholding tax will be charged to any interest earned (48%)
I think the withholding tax is 10% (that's what Westpac charge me anyway), 48% is for residents who don't provide a TRN.
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