People from all around the world can feel comfortable moving to Australia with a banking plan already in place. Westpac lets you open your bank account and savings account before you arrive. Transfer your funds into the account before you arrive and start paying your Australian bills. Plus, as part of the Westpac Global ATM alliance, it could be easy to make trips back home.
To be eligible for this account, you need to be arriving in Australia within the next 12 months.
What are the features of the Westpac Choice transaction account?
Migrants who are trying to choose a transaction account for their time in Australia should consider various accounts available to them and compare the features to find the one the meets all of their banking needs:
$0 Monthly service fee for the first year, then a $5 monthly fee applies
For the first year after opening their everyday banking account, migrants and immigrants will not be charged a monthly service fee. After that time a $5 monthly fee will be charged to your account. Full time tertiary students can take advantage of no monthly fee for the entire duration of their studies in Australia.
You will not be charged any fee for the following transaction methods; phone and online banking, POS transactions, ATM withdrawals, direct debits, cheque withdrawals, branch withdrawals and periodic payments.
Overseas ATM cash withdrawals
You will be charged $5 for each of these transaction types but will have easy access to your money through over 50,000 ATMs as a part of the Global ATM Alliance. This includes ATMs in the Bank of America, Scotiabank, Barclays Bank, BNP Paribas, Deutsche Bank, ABSA and UkrSibbank networks.
|New Zealand||Westpac NZ|
|Solomon Islands, Papua New Guinea, Tonga, Samoa, Cook Islands, Vanuatu, Fiji||Westpac Pacific Banking|
|Italy, France||BNP Paribas|
|Poland, Spain, Germany||Deutsche Bank|
|Zimbabwe, Zambia, Uganda, Tanzania, Seychelles, Mauritius, Kenya, Ghana, Botswana||Barclays Bank|
|UK, Portugal and Gibraltar||Barclays Bank|
|USA||Bank of America|
|China||Bank of Nanjing|
|Canada, Chile, Mexico, Peru, Caribbean, Jamaica||Scotiabank|
Foreign currency transactions
If a transaction is made in a foreign country, you will be charged 3.00% of the total amount.
Linked debit Mastercard
Once you arrive in Australia you will be issued a linked debit Mastercard that can be used for all of your buying needs as well as ATM cash withdrawals.
$0 Minimum balance requirement
You are not required to maintain a minimum balance in order to keep this account active.
No matter what part of the world you are arriving to Australia from, Westpac branch staff speaks at least 42 languages making it easy for you to communicate your financial needs.
Online and mobile banking available
You can access your Westpac account using online and mobile banking. Note, you'll need to complete an identity check before being able to withdraw funds.
Mastercard Fraud Money back guarantee
This ensures that any unauthorised transactions are reimbursed, given that you didn't contribute to the loss and you contacted Westpac immediately.
You can withdraw money out from an ATM without your debit card at Westpac branded ATMs. Generate a cash code using the Westpac Mobile banking app.
Link with a Westpac savings account
You can link your Westpac Choice account with a savings account from Westpac. You'll then be able to check your balance instantly within a centralised dashboard.
Westpac also provides migrants with other financial services once they have arrived, such as home loans, credit cards and term deposit accounts.
- Arrange your banking up to 12 months before you arrive
- Open two accounts at once using one link
- Transfer funds to your Australian account when you're ready
- Need to be moving to Australia to be eligible
How do I apply for the Westpac Choice transaction account?
Future expats and migrants to Australia who find that this account meets their financial needs can open an account as early as one year before their arrival.
Eligibility to apply online
Before you click “Go to Site” to begin the online application you should note that there are eligibility requirements that must be met:
- Minimum age. All eligible applicants must be at least 12 years old.
- Residency requirement. You must be arriving to live in Australia within 1 year of applying for this account.
- Depository requirements. While no opening deposit is required, you will have to make at least one deposit within the first six months after the account has been activated.
Documentation to apply online
If you can meet those terms, than have the following information ready as you start to complete your online application:
- Visa details. You will need to provide information about your visa type, the type of work you will be doing in Australia and your expected gross annual salary once you arrive.
- Identification. For the purpose of the online application you will need to provide information from your current driver’s licence or passport, but note that upon arrival to Australia you will need to present yourself in person to complete the application and be able to make withdrawals from the account.
What happens after I submit my online application?
The application only takes a few minutes to complete and submit, after which your account details will be provided to you. Keep in mind that you must make at least one deposit into the account within the first six months, and no withdrawals can be made until you have visited a branch and verified your identity. Your linked debit Mastercard will be issued to you at that time as well.