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Planning to open a new bank account? The good news is it's quick and easy to open a new bank account online. You usually just need to provide one or two forms of ID so the bank can verify you. This should be something with your name, address and a photo if possible, for example your driver's license, passport, birth certificate or proof of age card. If you don't have one of these, don't worry, there's many other forms of ID that you can use instead.
Generally speaking, there are several ways to apply for a bank account. You can:
The easiest and quickest way to open a bank account is online.
Before you apply for a bank account, you’ll need to make sure that you meet any eligibility criteria that apply. These criteria vary depending on the type of account you would like to open but can include the following:
Other criteria may apply, so check the terms and conditions before beginning an application.
If you’re an existing customer with a bank, they’ll already have all your relevant personal information on file and you most likely won’t have to supply any extra details. The only exceptions to this may be if you’re opening an account for a child or perhaps setting up a business bank account, in which case some extra information may be required (see below for more details). However, if you’ve never held an account with that particular bank before, you’ll need to provide a wide range of information, including:
If you’re opening a joint account, you’ll need to provide the above information for all account holders.
Depending on the type of account you open, there may also be circumstances where you need to supply some additional information. These include:
Before agreeing to open your account, your bank will need to confirm that you are who you say you are. To do that, you’ll be required to provide proof of ID. The exact proof of ID requirements can differ slightly between banks, so it’s worth checking with your financial institution for their guidelines on acceptable forms of ID. However, 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.
Most Australian banks now allow you to verify your ID online. You will need to have your driver’s licence, passport, Medicare card or birth certificate handy when applying for an account online, and then follow the prompts to have your ID confirmed.
If you'd prefer to do it in person you can head into a bank branch. If there are no branches close by, you may be able to get your identity confirmed at an Australia Post Bank@Post outlet – you’ll need to take along your ID as well as a form supplied by your bank. Alternatively, your bank may require you to provide a certified copy of your ID document(s) by mail. A certified copy of a document is a copy of an original document, for example your driver’s licence, that has been authorised as a true copy of the original by a specific person. People who are eligible to certify a document include:
Your bank will be able to provide a comprehensive list of people authorised to certify documents.
Application requirements are a little different if you’re applying to open a business bank account. In addition to your name, contact details and proof of ID, you may also need to supply:
Get $250 credit back when you meet the eligibility requirements and 55 days interest-free on purchases.
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