Bank Account Opening
For managing, transferring, and obtaining money, banking provides a variety of choices. In Australia, you may manage, access, and move your money using a variety of banking methods. Find out which choice is best for you and how you can best manage your money.In Australia, standard banking hours are 9:30 a.m. to 4 p.m. Monday through Thursday, and 9:30 a.m. to 5 p.m. on Fridays. A branch office of one of Australia's major banks would be located on or near every university's campus. In Australia, Automated Teller Machines (ATMs) are frequently utilized for after-hours banking. In most stores, both credit and debit (EFTPOS) cards are accepted.
How we handle:
We always provide detailed instructions for opening a bank account. The native currency is the Australian dollar (AUD). Depending on your needs, money in Australia can be handled in a variety of ways.Australian banknotes come in five different denominations: $5, $10, $20, $50, and $100. Coins are issued in denominations of five cents, ten cents, twenty cents, fifty cents, one dollar, and two dollars. Many students struggle with this conversion and select the incorrect account. Any bank account can be opened once you arrive in the country. In Australia, only Australian money is accepted as a form of payment. Foreign exchange services are generally available at all international airports, as well as through Australian banks. It’s also a good idea to open an Australian bank account so that you may arrange direct bank transfers for any money transfers into your account. To open a bank account, you must complete a bank application form and submit your passport, student ID, and Social Security number.To open an account, you’ll need to provide your Electronic Confirmation of Enrolment (eCoE), passport, Letter of Offer, and other pieces of identification. If you like, we can take care of everything for you, or we can make recommendations. It’s also possible that you’ll require an Australian Tax File Number (TFN). Please text us if you require any information. We’ll keep an eye on it and make recommendations as to what you should do next.