Australian student bank guide

Whether studying abroad or immigrating, everyone needs to go to Australia to open an account, deposit and withdraw money and exchange money. So how should these businesses be handled? How can we save money? How can I get the highest interest by saving money? What are the precautions? Let's answer them one by one.

Australia's four largest banks

I. National Bank of Australia

Second, Commonwealth Bank of Australia.

Westpac's Westpac

4.ANZ Australia &; Bank of New Zealand Group (ANZ)

Both international students studying in Australia and immigrants living in Australia need to open their own accounts. When deciding which bank to choose, the main considerations are whether it is convenient to use, whether there are bank branches near the accommodation area, and the service quality of the four major banks is similar, which can be ignored.

Business?Hours?

The office hours of Australian banks are from 9:30 to 16:30 every Monday to Thursday, and are closed at other times. Therefore, if you need to withdraw a large sum of money in Australia, you must pay attention to the bank during office hours, and the bank will not handle it for you on weekends.

Account opening instructions

When opening an account in an Australian bank, international students need to prepare some documents: personal passport, Australian driver's license and student ID card (those who have not obtained student ID card for the time being can provide CoE or return student ID card to the bank). If international students have a tax number, it is best to carry it with them. Some banks in Australia can open special student accounts and enjoy some special services for students, such as free annual fees. International students can also consider these special accounts.

Generally, you can receive your savings card and password within 2 weeks after opening an account. In order to ensure safety, Australian banks will mail the deposit card and password separately, so the arrival time will be different. In order to increase the security of accounts, some Australian banks will also require their accounts to be activated by the bank's phone.

Deposit and withdrawal business

After applying for a bank account, you will get an ATM withdrawal card, and you can check the money transaction through the withdrawal card one week after applying. The main purpose of this card is to withdraw money from ATM machines. Only if the withdrawal amount exceeds 800 Australian dollars, you need to go to the bank counter. Banks in Australia are all allied, so you can withdraw money from any bank's ATM, but there is a handling fee for withdrawing money from non-bank ATMs.

In addition, you can withdraw a small amount of cash (

If you lose your bank card, you should take your certificate to the nearest bank. If it is past the closing time of the bank, you need to call the bank 24 hours, freeze the card first, and then go to the bank to handle it.

If you want to deposit a large amount of fixed investment, you'd better ask the bank service staff about the best deposit plan. The regulation of deposit interest in Australia is very complicated. Interest is not only related to the time of deposit, but also related to the amount of deposit. The longer the time, the greater the amount and the higher the interest. If the deposit is not specifically stated at the time of deposit, and the deposit is deposited into the current account at the interest rate of 0.5%, the interest loss is still relatively large. It should be noted that when you deposit in Australia, you need to pay tax on the interest earned from the deposit, so you need to open a tax number in the Australian tax authorities, otherwise it may lead to illegal tax evasion.

Banks in Australia not only provide deposit and withdrawal account services, but also provide checking account services, with a handling fee of only 5 Australian dollars. Due to the high tuition in Australia, it is neither convenient nor safe to carry a lot of cash, but in some areas of Australia, it is much more convenient to pay tuition by cheque ~

currency conversion

When you change money in Australia, you must shop around! The exchange rates of Australian banks are not uniform. Different banks will offer different exchange rates, especially some big banks will keep the exchange rate very low, so you can choose a smaller bank to exchange it.

For foreigners with passports, the maximum amount exchanged in Australia is 2000 Australian dollars, and a handling fee of 5 Australian dollars is required each time. If you want to reduce some exchange rate losses, you can also ask local Chinese immigrants for help. Find a trustworthy friend in China and exchange money directly with him when he needs to send money to China, so that both sides can reduce exchange rate losses!

method of remittance

If you don't go through the bank, there are other remittance methods. Remittance companies include An Ying, Huilian and Western Union, all of which are very convenient remittance companies.

on-line service

Online banking is not only convenient to handle, but also has a low handling fee. As long as there are fixed online facilities, you can handle an online banking business. The four major banks in Australia all have online banking, which provides registered user account services for online payment, transfer and deposit inquiry.

Matters needing attention

1. When opening an account, you should ask the minimum deposit to ensure that you can deposit this minimum amount after opening an account, because once it is lower than this minimum deposit, the bank will charge an account opening fee.

2. Australian banks will charge customers for their transactions, but the first 10 times or specific times of each month are free, so international students need to ask about this rule when opening an account.

If you want to open an account in Australia to save money, you should pay attention to the following points.

Don't open a checking account unless necessary, because banks in Australia will charge a high monthly fee for checking accounts.

Labor costs in Australia are very expensive, so try to use ATM machines when it is not necessary.

Don't open too many accounts in Australia, or you will have to pay more fees in addition to scattered deposits.