How to Set Up a Bank Account Before Arriving in Australia
How to Set Up a Bank Account Before Arriving in Australia
Setting up a bank account before landing in Australia can save you time, reduce stress, and help you manage finances from day one. Fortunately, many major banks in Australia allow newcomers to open accounts online before arrival.
1. Why Open a Bank Account in Advance?
- Receive international funds (e.g., tuition fees, living expenses)
- Speed up settlement process after landing
- Start using debit cards and mobile banking apps immediately
2. Recommended Banks That Support Pre-Arrival Setup
- Commonwealth Bank (CBA): Open online and verify ID after arrival
- ANZ Bank: Allows up to 12 months pre-arrival account setup
- NAB: User-friendly mobile app and no monthly fees for students
3. What You’ll Need
- Passport details
- Australian address (temporary or future residence)
- Visa Grant Letter (Subclass 500, 482, PR, etc.)
4. What to Do After Arrival
Once you arrive in Australia, visit a local bank branch with your original documents to complete identity verification (KYC). Once verified, your account becomes fully functional.
5. Pro Tips
- Install the bank’s mobile app before traveling
- Transfer a small amount first to test the SWIFT process
- Consider using Wise or Revolut for low-fee international transfers
By preparing in advance, you'll hit the ground running financially—and that’s one less thing to worry about when you arrive in Australia!
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