Nix and Mike

I know this question has been asked before, and I have scanned previous posts, but I have some specific questions re banks which haven't been answered.

1. We would like to open a bank account in Aus from abroad. It would probably be a year before we are actually in Aus. The idea is to deposit some of our savings in an Aus account and therefore hedge the fall of the US dollar over the next year...... (wish we had a crystal ball!!!!)
2. We would like on line banking
3. We would obviously like a good interest rate (otherwise better to invest here in the short term and hedge our bets!)
4. We would like a bank with reasonable monthly fees (not sure what that is in Aus!!!?)
5. We would like a bank that we can stay with once we are in Aus.
6. We do not have our visa's yet, so have no "proof" of rights to Aus at this point in time. It would probably have to be a "non resident" account? Would this have any restrictions / implications?

Which bank would best suit the above?

THANKS!
Nix

EvannTel

Westapc MaxI account. You will pay withholding tax currently at 46.5% I believe, check the ATO website but I'm pretty sure without a Tax file number, interest is hit at the marginal rate. There are threads on here saying how atrocius Westpac are but we opened accounts with them and they have been nothing but perfect and helpful.

However, I would not change like this to hedge. If you have a relatively small amount its not worth it, if you have $$$$$ then seek financial advise, offshore may be a better option

Nix and Mike

Well, it wouldn't be millions (I wish!!!), but it would be a couple of ten's of thousands....not that much in the bigger scheme of things.
And from a distance, how would you make a judgement call on a good investment advisor that you could trust? Rhetrocial question I know..!

Nix