hi. Im sorry if this has been done before but............ Im with HSBC in uk and im of to Oz in october via Bangkok. Ive asked my bank if i will be able to use my account in Oz and bangkok and they said yes but there will be a charge everytime i withdraw money, i dont want to get charged everytime so i will open an Australian bank account but ive been told that to do so i will need a permenent address in Oz. how can i have a permenent address when i will be travelling?? Also which bank is best to open an account with. All help appreciated
I know nothing about Aussie bank accounts but i'm with Nationwide. They don't charge you for drawing cash abroad. Might be easier for you as well since you can set it to a fixed address in the UK. Hope that helps a little
If you're in Australia on a WHV, you don't need a permanent address. Just walk into any bank to open an account (for which you only need a passport for identification, as long as you open it within a month of arriving in Australia), and give them the address of your hostel for them to send your debit card to (should take less than a week). Then go back to the bank, and ask them to change the sending frequency of your bank statements to once a year (they can't cancel them completely, but this effectively means none will be sent, just as long as you remember to close the account before the year is over). If you ever need a bank statement, walk into any bank branch and ask for a (free) "interim statement".
As for which bank to go with, I had good experiences with ANZ, which I mostly chose as at the time it was the only one with which I could get away with not paying them a monthly fee for the "privilege" of banking with them. However, the various plans banks have change so often that I have no idea which is best anymore, now. The big banks are the Commonwealth Bank, ANZ, NAB, and erm, WestPac and Citibank, I think? (Sorry, I always forget which Australian banks are truly operating nationwide, and which are mostly limited to just a few states, but I'm sure that if I'm wrong with that list, someone'll come along to correct me shortly.)
They need to send you out some documents for you to sign and the bank card and then statements etc...maybe general correspondence, i imagine it could easily be used for fraudulent purposes.... In the UK it would be a lot harder to just open an account...
Anyway, i needed a perm address which i had, i was out for 3 months, visitor visa. Maybe a hostel would do ............
I used the Commonwealth bank and was very good as you would expect .............
like Dom, Im with the Nationwide, and I would recommend them. They have a debit and credit card that you can use abroad for free, their internet is really easy to use or if you want you can give permission for someone to look after your account when your away. I personnely think this is easier than opening an account abroad unless you are planning on getting a perm job which wants to pay into a bank account.
Hope it helps
Of you are on a tourist visa, get a Nationwide account cos of no fees but if you are working here you HAVE to get an Aussie account (you WONT get paid otherwise!). I signed up to Citibank oppostie Woolies in Syd cos their ATM fees are wavered if you have your salary going into the account so that means you are never charged for any ATM fees compared to ALL the Aussie banks unless you pay a reasonable fee for wavering, you have to pay $2 per ATM transaction if you do not use your specific bank's ATM...so you end up taking out more each time to balance the fee!
AND GET YOUR TFN NUMBER ASAP ON ARRIVAL!!!
thanks for all the help. what is a TFN? im thinkiing something to do with tax??
Tax File Number, which you need, as employers will otherwise be required to withhold the highest possible percentage of tax over your income.