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australian bank accounts!!!

Travel Forums Australia / New Zealand & The Pacific australian bank accounts!!!

1. Posted by gdayaus (Budding Member 18 posts) 5y

i have been looking into which is the best bank to bank with whilst im on my travels in australia, im looking for the one with the cheapest withdrawals fees, i see some have monthly fees!!!!! CAN ANYONE ADVISE!!!!! thanks

2. Posted by andyh99 (Budding Member 32 posts) 5y

I think most of the Australian banks charge monthly fees - although these are quite minimal. I set myself up with the Commonwealth Bank of Australia and found the process really easy. I just went into a branch when I got to Sydney with my passport and the account was set up there and then, got my bank card a few days later. They charge $4 per month.

3. Posted by mojorob (Moderator 1047 posts) 5y

NAB doesn't charge monthly fees (and also doesn't require a minimum deposit each month). Withdrawals from NAB ATMs would be free, though other (non-NAB) ATMs would charge (normally $2 in urban areas). One of the big four, so plenty of NAB ATMs and branches.

If in an area that doesn't have an ATM or branch, you can also use the Bank@Post service at post offices.

4. Posted by gdayaus (Budding Member 18 posts) 5y

thanks for your help!!!!!!! :)

5. Posted by holmesyboy (Budding Member 8 posts) 5y

Commonwealth Bank has the most branches and ATMs and the $4 fee each month is cheap. I havent been to a town yet that diesnt have a Commonwealth Bank ATM. You can apply at a branch when you arrive or some companies like Travellers Contact Point and Travellers At Work do it for you before you leave home for free and your card is ready to collect when you arrive. The bank emailed me when the account was setup and I transferred cash into the account so I had Aussie dollars ready when I got here. I found out recently that its cheaper to withdraw money at an ATM from your home account then deposit it via the ATM into your Aussie account. This was the transfer fee is only $3.

6. Posted by wanderer82 (Full Member 111 posts) 5y

I'd say commonwealth. Whatever you do don't go with citibank.

7. Posted by J0sephine (Budding Member 70 posts) 5y

to holmesboy
what do you mean by this
..."found out recently that its cheaper to withdraw money at an ATM from your home account then deposit it via the ATM into your Aussie account. This was the transfer fee is only $3."

Do you mean its best to take english cash and then deposit into your Oz account whilst you are there?

Sorry if I seem a bit thick!!

Jo

8. Posted by Scotty87 (Budding Member 27 posts) 5y

Commonwealth Bank has got the be the best option!
$4 a month is nothing for the easiness of having them as your bank!
It also costs $11 dollars to transfer money from an UK account, which is cheap when you are transferring loads of money across!

Scott :)