keaton

I'm trying to open an Australian account from the UK with Commonwealth Bank. Rang them this morning and they're going to mail me the paperwork etc.

I asked how much I needed to place into the account and was quoted AUS $5000.

Does anyone here know if any of the other bank require that much as deposit for an account or is this the standard amount require for opening account from the UK?

Cheers!

mika24me

Hi

the deposit for an HSBC online savings account is $2000.

cheers

Mel

karawara88

You don't need to deposit anything to open a London account. We had the account for months with nothing in it. Then transferred cash to them and onto Perth.

Not impressed with them though. !

Also had loads of problems trying to open HSBC account in UK because of problems with introductory letters.

Been told I can go into HSBC in Perth passport in hand and open an account, which I plan to do tomorrow.

keaton

Thanks for the reply. Having just got back from Oz it would have made sense to try and open an account there really.

Guess I'd better get saving then!

keaton

Cheers Mel!

John and Sandra

Hi there
We opened an account with £50 - no probs with the Commonwealth bank.
John and Sandra.

yafm

Don't forget for all the thousands of staff in the UK in these banks they do not often get asked these questions and guess at the answers We have had different answers from the same bank at different branches. In some cases we have argued and they have gone away and come back to agree with our answers on second thoughts. They really do not all know what they they are doing as it is new to them also.

So many people have posted that it was easy to open a bank account with most of the oz banks on line or via UK branches and we have also had good info from the banks in Croydon about it Also you do not need tohave been a customer of their UK subsidiary or partner to get easy access to an account. Keep trying

owieb

We went the Commonwealth bank route, opened the account in the UK with nothing in it, then just before leaving, transferred the money in.

You then turn up in Oz, go to the bank and get access to your money. All very easy.

mashiraz

OPened with Comm Bank.

No problems at all, doing transfers over the phone and moving money over her was quick. Goo exchange rate given too, only 1 cent below normal.

Dedicated lady in Adelaide looks after you really well.

Mash...

renth

Commonwealth Bank are utter shite, steer well clear.

HSBC are a better bet.

owieb

Totally agree now that I'm here, but they were good to use to get me started.

dmf

We opened our bank account with Commonwealth in London with no deposit 4 months before it was used. On the sale of the house the proceeds were transferred straight into that account. Then transferred a first lump sum to Oz before we arrived so that we had bank cards ready and waiting for us when we got here. Bank fees are waived depending on how much you transfer - same goes for the bank charges on your account in Oz - all depends how much money you hold in the account. If you have a mortgage with them the monthly bank charges are waived.

So far they have been very helpful. I'm sure there might be better deals out there but when you first arrive there is so much to do and if this can all be sorted beforehand it makes life easier.

Dawn

teeleeky

Its worth noting that if you're transferring a lot of money, then use a immigration / currency transfer company such as

http://www.currenciesdirect.com/

Rich

karawara88

Quick update - Commonwealth bank ARE shite. !!

Opened account in UK, transferred money before leaving, called in Commonwealth in Perth last Tuesday, had to make an appointment to sort out account for today (Tuesday) went in and got told it had not been sorted and would take hour and a half. !! Threw toys out of pram went to HSBC passport in hand, opened an account in ten minutes, back to Commonwealth told them to stick there account and transfer the cash to HSBC.

Back to HSBC account activated. !!

So my advice either get HSBC account before leaving or get to Oz open account with HSBC transfer cash from your UK account.

Avoid Commonwealth like the plaque. !!

tinaj

HSBC are recommended frequently the only trouble is it can be a pain to open in the UK.

My bank refused to sign the identity document as they 'don't personally know me' If you visit your brach often and they know you, they should sign it for you. If you never go to the brach like me, you may be unlucky. Basically if they don't sign it you can't open the account.

Fortunately I remembered that I knew someone who works in another bank and they have signed it for us. Otherwise we would be stuck.