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As an international student in Australia, having a bank account is essential for managing your finances, paying bills, and receiving payments. In this guide, we will walk you through the steps of opening a bank account in Australia, including the documents you need to prepare, and the process of choosing the right bank for your needs.
Step 1: Gather the necessary documents
Before you can open a bank account in Australia, you will need to provide a few documents to the bank. These may include:
- Proof of identity (passport or national ID card)
- Proof of address (utility bill or rental agreement)
- Proof of enrolment (letter from your university or college)
- Tax file number (TFN) or Australian business number (ABN)
Step 2: Research different banks
Australia has a wide range of banks to choose from, and it’s important to find the one that best meets your needs. Consider factors such as location, fees, and international money transfer options. Commonwealth Bank is one of the largest banks in Australia, and they offer bilingual staff in some branches and language-enabled ATMs. They also have an extensive Branch and ATM network available across Australia – including on some student campuses.
Step 3: Visit a bank branch
Once you have gathered the necessary documents and researched different banks, visit a bank branch to open your account. Be sure to take all of your documents with you, as well as your student ID or letter of enrolment.
Step 4: Choose an account type
When you visit the bank, you will be asked to choose an account type. There are several types of accounts to choose from, including savings accounts, student accounts, and transaction accounts. Consider your needs and the bank’s fees and features to make the right choice.
Step 5: Complete the application
The bank will give you an application form to fill out. Make sure to provide accurate information and sign the form. The bank will then process your application and, once approved, give you your account number, an ATM card, and other information.
Step 6: Check for student offers
Many banks offer special offers for students, such as lower fees or special interest rates. Be sure to ask the staff at any Commonwealth Bank branch for more details and take your student ID or letter of enrolment when you do.
Opening a bank account in Australia as an international student can seem daunting, but by following these steps and preparing the necessary documents, you can easily open an account and manage your finances with ease.
Commonwealth Bank offers a wide range of special offers for students and with bilingual staff and language-enabled ATMs, it’s a great option for international students. Additionally, their website offers tips and guidance about moving to, and studying in, Australia.
