You can open a bank online by following these steps:
Let's go into each of these steps in more detail.
Shop around to find the right bank account for you. When looking at accounts, look for features like no monthly account keeping fee or ATM fees, a range of supported payment options and additional perks like cashback offers. If you go overseas often, you might want to consider a bank account with no international transaction fees.
Once you've chosen your account, it's time to start the online application. You’re required to provide some basic information about yourself such as your name, date of birth and residential address, driver’s license number and tax file number (TFN) if you have it.
If you're already a customer of the bank, you can usually skip this part by giving your existing customer number.
If you're a new customer, you will need to verify your identity before you’re approved for the account. This can be done online depending on the identification documents you can provide. Some banks require that you verify your identity in person, for example if you're opening an account for a child who doesn't have ID. Again, if you’re already a customer of the bank, you won’t need to complete this step.
You will generally have to choose one of the following options:
Any ID you supply when opening a bank account must be valid (i.e. make sure your passport hasn't expired) and must exactly match the name you provide on your application. Once the verification has been completed you can make deposits to the account but you won’t be able to make withdrawals if you haven't verified your identity.
You'll also need to provide a few personal details, including:
The bank account debit card will arrive in the mail after you’ve been approved. You’ll find out how long it takes when you get the confirmation email once you submit the online application, however it usually takes between 3-7 business days. The debit card and PIN are sent to you separately for security reasons. When you get your card, you need to sign the back and activate it so you can make withdrawals. This is a simple process that can be completed over the phone or online. The letter that comes in the mail with your card will have clear instructions on how to activate it.
Most accounts in Australia can be opened as joint bank accounts with one other person (or sometimes more). There will be an option at the start of the application form to select if you're opening the account as a joint account. If you are, each person will need to verify their ID.
| Response | WA | VIC | SA | QLD | NSW |
|---|---|---|---|---|---|
| Online | 45.63% | 48.48% | 46.58% | 49.75% | 48.45% |
| In-branch | 43.69% | 43.56% | 46.58% | 41.12% | 40.99% |
| Through an app | 5.83% | 5.68% | 4.11% | 6.09% | 8.39% |
| Over the phone | 4.85% | 2.27% | 2.74% | 2.54% | 1.55% |
| Other | 0.51% | 0.62% |
There’s no need to visit a branch to open a bank account anymore. You can open a bank account, deposit money and set up automatic payments all from the comfort of your home. Once you’ve applied, just wait for the card to be sent you in the mail, activate the account and you’re good to go.
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My brother is 17 and opening an account for the first time. I have my Medicare card, pension card and healthcare card. Will this be enough Identification? As I don’t have my birth certificate?
Hi, most banks will require two forms of ID with either a birth certificate, passport or driver’s licence. I’d suggest calling the bank you’re hoping to open an account with and checking what specific ID options will be sufficient to open an account.
is it the same process if I want to open an account in a company or group name, if it is different what is the correct process
Hi Alex,
Thanks for your question.
The process is somewhat similar, though the documentation required would be different.
You’ll need to provide information about yourself and your business, provide your ACN or ABN, company name and business incorporation details.