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best bank to use in Australia

Travel Forums Australia / New Zealand & The Pacific best bank to use in Australia

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11. Posted by Taffski (Travel Guru 182 posts) 9y

Hi Guys,

agree with James. We did the same.... $5 a month is 2 pounds !

We've kept our account open as you can transfer funds from the UK to OZ for next to nothing also (and can do it all over the internet which is priceless!)

Think we've posted on this before anyway so have a search on the site!

Just as a footnote..... You could always get a Nationwide Account in the UK also and use this for taking money out of ATM's as it's free... depends on where your money is and how long you're over there for...

We lived there for 2 years and had both an ANZ (for our working monies) and kept our Nationwide account for empergencies and also for keeping the bulk of our cash. Remember you also get to keep your money in Pounds (Not that I'm a currencies guru.... but this keeps you safer from currency fluctuations also :)

Hope this helps

Taffski

12. Posted by hmclehto (Full Member 142 posts) 9y

Quoting Peter

I've had accounts with Commonwealth, NAB, ANZ (well, my wife did) and Westpac. And I can categorically say that they're all as bad as each other. Fees are outrageous in Australia - it is quite standard to cop around $6 a month just for having a fairly basic account. The only good banking institution I've dealt with here is ING, who has an excellent online savings account product. But they don't have regular accounts.

So, maybe HSBC is worth a try. The lack of ATMs would be my main concern, but by the sounds of it, they've found a way around it by removing EFTPOS fees. Incidentally, hmclehto, do those then count towards the 5 monthly withdrawals?

13. Posted by hmclehto (Full Member 142 posts) 9y

no Peter eftpost withdrawals won't count so even if you'll get $10 cash out each time you'll shop that's fine. Hate all the charges and banks making profit so wouldn't give them that "only $5 per month" and all free withdrawals shite. they don't deserve anything so if you can avoid it why give them free money that's exactly how they'll get you only this much and you'll get free this and that. It should all be free.I don't pay a penny in charges and that's how it should be....again good luck

14. Posted by james (Travel Guru 4136 posts) 9y

Quoting hmclehto

no Peter eftpost withdrawals won't count so even if you'll get $10 cash out each time you'll shop that's fine. Hate all the charges and banks making profit so wouldn't give them that "only $5 per month" and all free withdrawals shite. they don't deserve anything so if you can avoid it why give them free money that's exactly how they'll get you only this much and you'll get free this and that. It should all be free.I don't pay a penny in charges and that's how it should be....again good luck

I agree when you say the banks don't deserve your money. But at $5 per month, at least that's the most that they'll get out of you.

One thing to keep in mind though is that these "unlimited withdrawals" do not include other bank's cash machines. There is a charge when using those of about $1.50 per withdrawal I think. But ANZ machines are pretty much everywhere so that's not really a problem.

15. Posted by oslaue (Full Member 571 posts) 9y

5 free withdrawals? i wonder why its free? maybe because it is impossible to find a hsbc atm machine anywhere. id go with anz!

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