Australian Bank Account Opening For Expats: The Best Choice

 In Relocation Tips

If you’re heading down under, opening an Australian bank account will be something you’ll want to do quickly. Simply put, the faster you get this done, the easier it is for you to hit the ground running once you land in Australia. Significantly Australia, being a global financial hub, makes it easy for you to do so with many service providers available. Here are some of our recommended companies.

*This list is not placed in any particular ranking order. Feel free to contact us at partnerships@moovaz.com if you wish to partner with us.

 

commonwealth-bank-of-australia-logo

Commonwealth Bank of Australia offers a good range of bank account options to support people moving to Australia. This includes the Everyday Account Smart Access, which lets you open an account up to three months before you arrive in Australia. Importantly with no Australian address needed to set up the account, Commonwealth gives you the flexibility to plan your move. As Australia’s largest bank, Commonwealth is a clear option for Australian bank accounts for new expats.

 

westpac-logo

Westpac (Bank of Melbourne/ BankSA/ St.George Bank) allows you to sort your day to day bank accounts in Australia seamlessly. The bank has staff that speak several languages, including Mandarin, Vietnamese, Korean and Greek, along with multilingual ATMs. Furthermore, if you are planning to buy a home in Australia, Westpac is ready to guide you through the process with home and investment property loans readily available. Therefore if you are looking for an Australian bank account, Westpac is a good option for ready credit.
 
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citibank-logo

As one of the largest global banks, Citibank is primed to help you move to Australia as your local bank. If you are a Citibank customer in your home country, the bank can even set up your Australian bank account before you leave home. As a result of Citibank international banking solutions, you will always be sure of getting the same, high level of service at your home country and in Australia.

 

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Wherever life takes you, HSBC may be able to help. HSBC allows you to open Australian foreign currency bank accounts, so you can transact in up to 10 different currencies. The bank also provides international transfers, allowing you to keep connected to your financial commitments back home with ease. Finally, you can manage your home and overseas accounts anytime, anywhere with online banking and the HSBC app.
 
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nab-logo

NAB offers one of the most competitive solutions to opening an Australian bank account from overseas. It allows you to open a Classic Banking account, that lets you send money up to 12 months before your arrival. This gives you plenty of flexibility to pay people like your landlord using the local banking system, saving you transaction fees and time. With $0 monthly account fees, overdrawn fees or withdrawal fees, NAB helps you settle in with ease. All you have to do is to collect your NAB debit card at arrival, and you are good to go!

 

suncorp-logo

Suncorp’s Everyday Options Account allows you to set up an account in under 5 minutes. Furthermore, as you make large purchases in Australia such as home furnishings, you can even earn interest on your main account balance of up to 0.01%. This is an easy, everyday account that is packed with extras to help you spend, save and budget better.

 

Conclusion

With the wealth of options available, it is clear that there are no wrong options. Banking in Australia is one of its many perks, with a sophisticated and consumer-friendly system. Need assistance for banking matters? Get in touch with our Relo Buddies today! 

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