Australia Bank Account Complete Guide (2025)

"I heard I need to open a bank account as soon as I arrive in Australia. How do I do it?"

A bank account is an essential first step for life in Australia. You need an Australian bank account to receive your salary.

Good news: You can complete the online application in 10-15 minutes! Just visit a branch after arrival.

This guide was created based on experiences from over 3,000 working holidaymakers.

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1. Australia's Major Banks Comparison

1.1. Big 4 Banks

Commonwealth Bank (CommBank) ⭐ Recommended!

• Most branches and ATMs
• Working holidaymaker friendly
• User-friendly app
• Monthly fee: $0 (when conditions met)

ANZ (Australia and New Zealand Banking Group)

• One of the Big 4
• Many branches
• Monthly fee: $0 (when conditions met)

Westpac

• Australia's first bank (1817)
• Many branches
• Monthly fee: $0 (when conditions met)

NAB (National Australia Bank)

• One of the Big 4
• Monthly fee: $0 (when conditions met)

1.2. Bank Comparison Table

Bank	Branches/ATMs	Monthly Fee	App Rating	Recommendation
CommBank	⭐⭐⭐⭐⭐	$0*	4.5	⭐⭐⭐⭐⭐
ANZ	⭐⭐⭐⭐	$0*	4.3	⭐⭐⭐⭐
Westpac	⭐⭐⭐⭐	$0*	4.2	⭐⭐⭐⭐
NAB	⭐⭐⭐⭐	$0*	4.3	⭐⭐⭐⭐

*Condition: Monthly deposit of $2,000 or under 25 years old

💡 Recommendation: CommBank (most convenient)

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2. Types of Bank Accounts

2.1. Everyday Account (Transaction Account)

Purpose:

• Receive salary
• Daily spending
• EFTPOS and online payments

Features:

• Monthly fee $0 (when conditions met)
• Debit Card provided
• Unlimited transactions

2.2. Savings Account

Purpose:

• Savings
• Earn interest

Features:

• Interest rate: 0.5-3% (varies by bank and conditions)
• Monthly deposit requirement (e.g., deposit $1,000 → 3% interest)

💡 Tip: Opening both Everyday + Savings accounts recommended

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3. How to Open a Bank Account

Method #1: Online Application + Branch Visit (Recommended!)

Step 1: Online Application (Possible before arrival!)

CommBank Example:

1. Visit commbank.com.au

2. Click "Open an account"

3. Select "Everyday Account"

4. Enter personal information:

   • Name (same as passport)
   • Date of birth
   • Email
   • Australian phone number (if none, temporarily use hostel number)
   • Australian address (backpacker hostel acceptable)
   • Visa information (Working Holiday, Subclass 417/462)

5. Upload identification:

   • Passport photo

6. Submit

Result:

• Temporary account number (BSB + Account Number) issued immediately
• Account viewable in app

Step 2: Branch Visit (Within 6 weeks of arrival!)

Required Documents:

• Passport (original)
• Proof of address (hostel booking confirmation, rental agreement, etc.)

Process:

1. Visit nearest branch
2. Say "I applied online, need to verify"
3. Passport verification
4. Debit Card issued (same day or by mail in 5-7 days)

Method #2: Direct Branch Visit

Required Documents:

• Passport (original)
• Proof of address (backpacker hostel acceptable)
• Australian phone number (purchase SIM first)

Process:

1. Visit branch
2. Say "I'd like to open an account"
3. Staff will help complete application
4. Account opened immediately
5. Debit Card issued (by mail in 5-7 days)

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4. The 6-Week Rule ⚠️ Important!

4.1. What is the 6-Week Rule?

If you open account within 6 weeks of arriving in Australia:

• Only 1 ID required (passport only)

After 6 weeks:

• 2-3 IDs required (passport + Australian driver's license, etc.)
• → Becomes very complicated!

💡 Tip: Open your account within 1-3 days of arrival!

4.2. Additional Documents After 6 Weeks

Additional IDs Required (2-3 needed):

• Australian driver's license
• Electricity/gas bill (in your name)
• Rental agreement
• Student ID

Problem: Working holidaymakers don't have these documents!

Solution:

• Absolutely don't exceed 6 weeks

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5. Debit Card vs Credit Card

5.1. Debit Card

Definition:

• Can only spend what's in your account

Advantages:

• No debt
• Easy to obtain

Uses:

• Daily spending
• Online payments
• ATM withdrawals

5.2. Credit Card

Definition:

• Bank lends you money (pay back later)

Difficult for Working Holidaymakers:

• No Australian credit history
• Only easy for permanent residents/citizens

💡 Tip: Working holidaymakers only use Debit Card

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6. How to Use Banking Apps

6.1. CommBank App (Example)

Download:

• App Store / Google Play: "CommBank"

Login:

• Client Number (received when account opened)
• Password

Main Features:

• Check balance
• Transfer money
• View transactions
• Cardless Cash (ATM withdrawal without card)
• Register TFN

6.2. Transfer Money

Domestic Transfer (within Australia):

1. Click "Transfer"
2. Select "To someone new"
3. Enter BSB + Account Number
4. Enter amount
5. Click "Transfer"

Transfer to Korea:

• Not possible through bank app (separate service needed)
• Recommended: Wise, OFX, Western Union

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7. How to Avoid Bank Fees

7.1. $0 Monthly Fee Conditions

CommBank:

• Monthly deposit of $2,000 OR
• Under 25 years old OR
• Student

Most Working Holidaymakers:

• Monthly salary deposit of $2,000 → $0 fee ✅

7.2. ATM Fees

Free ATMs:

• Your own bank's ATM (CommBank ATM → CommBank card)
• Big 4 bank ATMs are free for each other (some)

Paid ATMs:

• Convenience store ATMs: $2-3
• Other bank ATMs: $2

💡 Tip: Only use your own bank's ATM

7.3. International Transfer Fees

Bank International Transfer:

• Fee: $20-30
• Exchange rate: Poor (bank margin 2-3%)

Alternative: Wise (Recommended!)

• Fee: $5-15
• Exchange rate: Good (real exchange rate)
• Easy transfer through app

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8. Registering TFN with Bank

8.1. Why Register?

Interest Income Tax:

• Without TFN: 47% tax on interest
• With TFN: 0-32.5% tax on interest

8.2. How to Register

CommBank App:

1. Settings → Tax File Number
2. Enter TFN
3. Save

Or:

• Visit branch
• Call: 13 2221

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9. Frequently Asked Questions

Q1. Can I open an account before arriving in Australia?

A. Yes! You can apply online. However, you must visit a branch within 6 weeks of arrival.

Q2. Can I open an account with a backpacker hostel address?

A. Yes, you can. You can easily change your address later through the app.

Q3. Can I open accounts at multiple banks?

A. Yes, you can. However, one account is sufficient.

Q4. I lost my Debit Card. What should I do?

A. Immediately "Card lock" in the app → Visit branch or call to reissue ($10-15).

Q5. Is there a fee to close my account?

A. No. You can close it immediately through the app or by phone.

Q6. Do I need to close my account when returning home?

A. It's optional. If you plan to return on a second visa, keeping it open is a good option.

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10. Bank Account Opening Checklist

Before Arrival (Optional)

• Apply online (CommBank recommended)
• Receive temporary account number
• Download app

After Arrival (Essential)

• Purchase SIM (to receive bank contact)
• Visit branch (within 6 weeks!)
• Verify passport
• Apply for Debit Card
• Log into app
• Register TFN (after receiving TFN)

During Use

• Monthly deposit of $2,000 (for $0 fee)
• Only use your own bank's ATM
• Transfer to Korea: Use Wise

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Conclusion

Open your bank account within 1-3 days of arrival. Missing the 6-week rule makes it complicated!

Key Summary:

1. ✅ Recommended bank: CommBank (most branches and ATMs)
2. ✅ Online application (10-15 minutes) + branch visit
3. ✅ Within 6 weeks open account (only passport needed)
4. ✅ Use Debit Card (Credit Card unnecessary)
5. ✅ Register TFN (save on interest tax)

Next Steps:

1. Apply online (CommBank website)
2. Visit branch immediately after arrival
3. Receive Debit Card
4. Register with bank after receiving TFN

Best of luck with opening your bank account! 🏦🇦🇺✨

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Related Articles

• Australia TFN Application Guide
• Australia First Week Guide
• Australia SIM Card Guide
• Australia Accommodation Guide

About the Author The WHRESUME team is in their 3rd year living in Melbourne and genuinely supports Australian working holiday makers. This guide is based on feedback from the working holiday community and analysis of official Australian sources.

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