1. Posted by grannelly (Budding Member 31 posts) 13y Star this if you like it!

Hi guys. Im looking at bank account on citi bank. just wondering if anybody has opened an account with them? Do i want an instant access savings account? im going to be doing a working holiday visa.

2. Posted by philheath (Budding Member 16 posts) 13y Star this if you like it!

I have a Citibank account - I pre-opened before i came away through the Citibank website and then just picked up my card when I arrived in Sydney so was pretty convenient. I am thinking about changing though to National as the monthly charges are high compared to National (only $3 a month), but I would recommend it as a good starting point.

3. Posted by notarealme (Full Member 49 posts) 13y Star this if you like it!

I was thinking about going with Citibank as well, what is there monthly charge? and are they easy to get to in Sydney. Also i noticed on there site they say you have to be in Australia within 6 months, i will be in 7-ish, how far ahead did you set your account up?


4. Posted by Sam I Am (Admin 5588 posts) 13y Star this if you like it!

Hi guys,

I wouldn't really recommend a Citibank account, mainly because of their fee structure. They have tackled the market well though as they target those travellers that havent' left to Australia yet and offer to open their accounts before departure which sounds great. While this is all well and good, their accounts carry (high) monthly fees (some actually don't - or at least never used to...) and they don't have any actual offices to walk into in Australia. This means you are constantly using your atm card at bank branches that don't belong to your bank. This attracts a fee of AUD 1 extra (that's how it used to be and I don't believe this has changed much) than if you took out money using an ATM card that actually belonged to that bank.

There's something to be said therefore for starting an account with those banks that have the most offices around Australia. In this case you're looking at the Commonwealth bank or ANZ. Opening a bank account takes about 15-30 minutes when you've arrived (you'll need an address of some sort and your passport with visa), so it's not as much hassle as it might sound like beforehand. The only thing is that you will have to wait for about a week for your new ATM card, but your account is already open for you to transfer money to from home, deposit money in etc. In the first week, most people I travelled with just used their ATM card from home.

Another thing about Citibank is that they push for you to transfer money to your new account through their system which last time I checked was incredibly expensive. The reason most people find out about them is because they market themselves well and make enough money off of the bank accounts to be able to offer companies a commission for promoting them online. So you'll tend to find quite a bit of advertising on them.

As an extra, it's also a good idea to leave some money on your home bank account and keep your two ATM cards separate. That way, if you do get robbed, you'll always have access to cash

Hope that helps; wasn't expecting this thread to get this long actually... :)

5. Posted by scotsman (Respected Member 128 posts) 13y Star this if you like it!


It depends on what your looking for from the card, I got the Citibank card pretty much for the reasons that Sam stated. It was marketed well etc etc... it was also only to be an account for wages to be paid into and not transfer valuable pounds from back home.

I only take cash out once or twice a month though, which is good in the sense that i'm only charged 1 or 2 dollars, but bad in the sense that when I go into a pub my wallet is bulging and the beer just flows soooo freely.......

Anyhow, happy bank hunting :)

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