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How to open a bank account in Australia for foreigners
Whether you're migrating, studying or working in Australia, it's pretty easy to open a bank account. Living in another country? Just speak to a local bank that has international ties with Australia.
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Opening a bank account in Australia bank is pretty simple if you’re migrating, studying or working in Australia. If you live in another country and don’t intend to migrate to Australia, you’ll need to speak to a local bank who has international ties with a bank in Australia. If you're on a tourist or visitor visa, you can open an account simply by visiting a local branch.
How do I open a bank account in Australia?
You can open an account online before arriving in Australia, on the phone or in person at the branch once you arrive. If you do decide to visit a branch, remember to bring valid forms of ID with you. This includes your passport, overseas credit card/student ID and letter addressed to yourself proving Australian residence. For more information, please see our 100 points ID article.
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- Google Pay, Apple Pay
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- No international transaction fees
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HSBC Everyday Global Account
Special offer: $100 cash bonus for new HSBC customers. Earn 2% cashback on tap and pay purchases (T&C's apply).
Special offer: $100 cash bonus for new HSBC customers. Earn 2% cashback on tap and pay purchases (T&C's apply).
Do Australian banks have migrant services?
Most major Australian banks have migrant services with staff who can speak a range of languages. This makes it a lot easier to open a bank account and avoid miscommunications.
These banks include (but are not limited to): Commonwealth Bank, Westpac, NAB, ANZ, Citibank and HSBC.
Moving to Australia? See our comprehensive guide here.
Which kinds of accounts are available to foreigners and expats arriving in Australia?
The type of account depends on your personal situation, your reasons for being in Australia and how much you’re willing to pay for additional services and add-ons. Students pay limited management fees since their accounts are quite basic. Professional people may require more elaborate account types, like those that allow for joint accounts and access to loan and investment facilities. Here are a few of the account types available to foreigners.
Transaction accounts
Also known as a current or cheque account, this option is an everyday account from which to pay bills, send and receive money, and manage your daily expenses.
Savings account
A savings account pays you interest on the money in the your account: the more you have in this account, the more interest you earn. Since these funds are not intended for everyday use, account holders are usually penalised with loss of interest when withdrawing from this account. Keep in mind, a lot of these accounts cannot be opened from overseas since they require you to have an Australian Tax File number and residential address. However, since you can open some transaction accounts from overseas, you should consider comparing these rates when choosing the right transaction account for your needs.
What are the benefits to opening a bank account in Australia?
While a myriad services are now at foreigners’ disposal to send and receive money internationally, there are some advantages to having a local account.
- Immediate access to your money. If you transfer money to your Australian bank account before you leave, you’ll be able to withdraw from your account as soon as you land in Australia. You’ll be asked to present positive identification when collecting your bank card.
- Lower fees when using domestic services. Moving or withdrawing money between international and Australian accounts incurs high fees, whereas you’d pay low transaction fees when using a local account. These kinds of fees are usually waived for students.
- Professional advantage. When you open an account before leaving, you can provide your future employer with your banking details ahead of time, saving yourself time on administration.
HSBC Everyday Global Account
Special offer: $100 cash bonus for new HSBC customers.
Earn 2% cashback on tap and pay purchases (T&C's apply).
Enjoy no minimum ongoing balance or transaction requirements and the flexibility to hold up to 10 currencies. Apple Pay and Google Pay available.
What should foreigners and expats look for in a bank account?
The type of bank account you choose will depend on how you like to manage your money and what you'll be using the account for. Here's a few of the main things to consider when choosing an account:
- Low fees. Make sure the account charges low or no account keeping fees.
- Branch access. If you will be making in-branch transactions (such as depositing foreign cash or cheques), make sure you select a bank with lots of branches in your local area. Some banks are online only with no branches.
- International transfers. It's likely that you'll need to send money back home from time to time, so check what the fees are for transferring money internationally as well as the exchange rates.
- Hold multiple currencies. Some bank accounts let you hold several foreign currencies in the one account. This could be really handy if you're going back home regularly and need the local currency there.
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Ask an Expert
Hi,
How many bank accounts I can keep open at the same time?
Hi Azza,
Thank you for getting in touch with Finder.
You can open as many as you can.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
As a South African citizen, I would like to open a bank account in Australia, but I will not be living or working there.
I just want ato save place to put myit money.
Is that possible?
Hi Elzanne,
Thank you for reaching out to Finder.
Opening a bank account with an Australian bank is a simple process given that you’re migrating, studying or working. If you reside in another country and don’t intend to migrate to Australia, you’ll need to speak to a local bank who has international ties with a bank in Australia for you to be able to open an account. Hope this helps!
Cheers,
Reggie
I entered Australia with an EB188 visa when I opened a saving account. I left Australia 4 months later and left the money in my bank account. I need to know how long can I keep the money there while I am abroad.
Hi Bernice,
Thank you for getting in touch with Finder.
It is best to contact your bank and check if you still have a balance. Some Australian banks charge an “inactivity fee” if no transaction is made within a month/a certain period – depending on the type of the account. If you still have the balance and your bank states that you are not charged an “inactivity fee”, your money can stay in your bank within 7 years. Your bank account becomes unclaimed after 7 years if the account is inactive (no deposits or withdrawals).
Check out our guide about finding an unclaimed money for more details.
I would also suggest that you contact your bank and close your bank account with or without a balance. This is simply because some banks may charge inactivity fees for not using your account. Others may continue to charge monthly fees on the account, which could put you in debt.
I hope this helps.
Have a great day!
Cheers,
Jeni
I am a non-resident of Australia thinking of opening a bank account in Perth, Australia.
Is that allowed?
Hi Agnes,
Thanks for getting in touch!
You can open an account online before arriving in Australia, on the phone or in person at the branch once you arrive.
If you do decide to visit a branch, remember to bring valid forms of ID with you. This includes your passport, overseas credit card/student ID and letter addressed to yourself proving Australian residence. For more information, please see our 100 points ID article.
Here are the types of accounts you are eligible for:
Transaction accounts
Also known as a current or cheque account, this option is an everyday account from which to pay bills, send and receive money, and manage your daily expenses.
Savings account
This account pays you interest on the amount you have in your account: the more you have in this account, the more interest you earn. Since these funds are not intended for everyday use, account holders are usually penalised with high fees or loss of interest when withdrawing from this account.
When you’re ready, simply choose the bank on this page above and click the GO TO SITE to get started.
Hope this helps.
Regards,
Nikki
Can you open a bank account in Australia if you have committed and been convicted of armed robbery (of a bank or otherwise)? This question is for Australian citizens/residents as well as foreigners.
Hi Rochelle,
Thanks for your message and for contacting finder.
In general, having a negative standing (i.e. a criminal record), a person may lose all sense of personal identity and credibility.
However, not all hope is lost as each case is determined accordingly. So you may direct your concern to the proper authorities on how to go about it.
Please note that we’re a product comparison website and we hold no affiliation with any company we feature on our site. We provide general information on products to assist you in your buying decision process hence we cannot recommend product / service that is rightfully fit for you.
Hope this helps!
Best regards,
Nikki
We will be coming To Australia yearly to visit and world Line To open an account in Melbourne. Our daughter lives there and Will be making monthly deposits for us. Can an account be opened front canada
Hi Carol,
Thanks for leaving a question on Finder.
You may refer to our guide that discusses bank accounts for non-residents. On the page is a comparison table you can use to see which account suits you. Simply press the “Go to site” button of your preferred account to be redirected to the bank’s website where you can proceed with your application. If you’re not migrating to the country, you can also consider speaking to a local bank in Canada who has international ties with a bank in Australia.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
Cheers,
Joel
I intend to do business in my country with an Australian company. The intention is for the Australian company to pay my commission on deals in my country to me in Australian Dollar. Customers in my country will pay for the services in Australia and I will earn a commission on the profit margin for these deals. I am not resident in Australia but would like to open an Australian bank account to have the money paid into. Am I legally allowed to open a bank account in Australia and have these funds deposited there?
Hi Grant,
Thanks for your question.
Typically, yes, a foreigner/non-resident can open a bank account in Australia, however, if you’re not migrating to the country, you would need to speak to a local bank who has international ties with a bank in Australia.
Cheers,
May
Hi, I used to work in Australia under working holiday visa 2 years ago and i’ve come back to my home country, Indonesia. I still have some money in my Australian bank account and also the debit card. And my debit card is about expire in 6 months, and I still want to use it. My question is, can I order a replacement card so I’ll get the new card? I’m not living in Australia anymore so can I use my friend’s address to send it? thank you
Hi Liv,
Thanks for reaching out to finder.
Generally, banks will send your replacement card automatically before your card will expire. You don’t have to request for it. They will send this to the address listed in your bank’s record.
Depending on the bank’s procedure, you may request to change your address or have your card delivered overseas. Either way, you’ll need to call the bank’s customer care few months before the expiry date to make this request. Kindly note that most banks won’t accept such request through email due to security reasons.
I hope this information has helped.
Regards,
Liezl
I applied for a visitor visa (sub-class 600) and was granted visa for 1 year (non-working with each stay up to 3 months a time). Can I open a bank account? If so, which banks allow tourists to open account?
Hi Raj,
Thank you for your inquiry.
This page on savings accounts for expats and residents on a temporary visa may be what you’re looking for as it discusses bank accounts for non-residents. You can press the “Go to site” button of your preferred account to begin your application.
Before applying, please ensure that you meet the eligibility criteria and requirements and to read the details, as well as the relevant Product Disclosure Statements/ Terms and Conditions of the option before making a decision and consider whether the product is right for you.
I hope this helps.
Best,
Maria
Hi, I used to work and stay in Australia for some years and I have a TFN, however, I go back to my country for family issues and now thinking to just open an online bank account by using my friend’s home address due to better interest rate, is that alright? Will that be any issues?
Hi Joey,
Thank you for reaching out to Finder.
It’s possible that they would look for a document proving your Australian residence such as a letter with the claimed address.
You may find useful information on this page for verifying your identity in Australia for a savings account.
I hope this helps.
Best,
Maria