I have more to add to both questions:
1) Can you open a bank account while still overseas?
Yes you can: the Commonwealth bank, Westpac and the ANZ allow this. If you do it before you leave you will save yourslef hassles regardless of how hard or easy it is once you arrive. Check out thier websites. (I've heard teh Commonwealth bank is the best for this).
2) Visa labels:
If you are applying for an electronic visa, which you are, all the info about your visa is logged into the Department of Immigration's database, so when you go through customs your passport details will bring up your visa number etc. (This is why it's really important to make sure you put in the correct details and you travel on the same passport you applied for your WHM on.)
BUT if you are one of those people who like to have everything on paper, then once you are through customs ask the immigration officer where you can go to have your label put into your passport. They will be able to do that for you at the airport, on the spot.