Frano Posted September 8, 2014 Share Posted September 8, 2014 Looking to open a current account as my first Australian bank account as I will migrate in the next year or two, Tips and pin pointers please folks Link to comment Share on other sites More sharing options...
Marisawright Posted September 9, 2014 Share Posted September 9, 2014 Looking to open a current account as my first Australian bank account as I will migrate in the next year or two, Tips and pin pointers please folks If you're likely to have an ongoing need to transfer money between the UK and Oz, consider Citibank. Better exchange rates than any of the "big four" Australian banks, and commission-free transfers. Most people open an account with one of the big four banks - Commonwealth, ANZ, NAB and Westpac - but be warned, because they are the biggest banks, they also charge the biggest fees and offer the least generous mortgage and loan rates. HSBC and Citibank both have Australian arms and offer better terms (and better service!). They don't have as many branches but they have deals with other banks for the free use of ATM's - and anyway, with online banking, branches are not that necessary any more. Link to comment Share on other sites More sharing options...
Frano Posted September 9, 2014 Author Share Posted September 9, 2014 Hi Marisawright, many thanks for the reply, its early days but I do need to start looking into it a bit more, my partner banks with the Bendigo bank, are they any good? Link to comment Share on other sites More sharing options...
Marisawright Posted September 11, 2014 Share Posted September 11, 2014 Hi Marisawright, many thanks for the reply, its early days but I do need to start looking into it a bit more, my partner banks with the Bendigo bank, are they any good? They are what's called a community bank. I used to like them very much but I've heard very little of them in recent years. Link to comment Share on other sites More sharing options...
jac2011 Posted September 11, 2014 Share Posted September 11, 2014 ANZ customer service in setting up an account has been brilliant, but I bet the same could be said for all the other major bank chains too. My mother banks with a smaller bank in the UK and I know it causes her no end of problems. Link to comment Share on other sites More sharing options...
furkew Posted September 11, 2014 Share Posted September 11, 2014 Hi Marisawright, many thanks for the reply, its early days but I do need to start looking into it a bit more, my partner banks with the Bendigo bank, are they any good? im with the Bendigo with my mortgage since today, but my wife uses them for her business and I think they are great. Admittedly we did buy shares two years ago in our town to enable them to open a branch here (along with a lot of other locals), but I like the personal more friendly approach that the Bendigo adopts. I went to change my mortgage with the commonwealth bank, and I would have needed to have a video conference with a mortgage broker somewhere else in the country (ive done all my banking with them for 7 years) walked into the Bendigo, and had a chat with the manager. Sorted out the details in 15 minutes and shaved 0.25% off my mortgage straight away. For smaller communities they are fantastic with their support of local clubs. Big thumbs up from me. Link to comment Share on other sites More sharing options...
tina0101 Posted September 11, 2014 Share Posted September 11, 2014 We've had a bad experience with Anz. Personally, I would not recommend them - took 2 weeks before our cards turned up (despite a phone call saying they'd be there the day after we landed) and then discovered that in order to withdraw money the system had been set up for 3 signatories (on a joint account with two names!). Its fixed now, but we very stressful. Link to comment Share on other sites More sharing options...
calNgary Posted September 11, 2014 Share Posted September 11, 2014 We happily use Suncorp and ANZ, we opened an account with ANZ prior to our arrival and still use it as our main account. The fee was $5 month but if you have other policys / accounts this is wavered and you pay nothing. Suncorp is good as you can get the sub accounts, which is free. Bendigo are still going strong in and around Brisbane and have recently opened a couple of new branches near where we live. Cal x Link to comment Share on other sites More sharing options...
Frano Posted September 11, 2014 Author Share Posted September 11, 2014 Bendigo have contacted me and said when Im back next in Sept, for me to just pop in and bring some ID and it will be set up there and then, sounds friendly enough to me Link to comment Share on other sites More sharing options...
Guest Peter at NAB Posted September 11, 2014 Share Posted September 11, 2014 Hi Andy At NAB our Classic Account does not have any monthly charge and it is a simple online application. You don't need to provide any documentation before arriving in Australia. Our service includes: A simple one page online application. Fast account opening. The ability to open up your account up to a year before you arrive in Australia. A dedicated named banker who understands the unique needs as a new arrival to the country. Your debit cards ready for you on arrival in Australia. A simple identification process No application fees, no minimum deposit and no monthly account servicing fees. Option of an on-line savings account that pays competitive interest. We have a dedicated migrant banking team in London so I would be more then happy to send you information by email if you want to PM me your details. If you send your phone details I am also happy to give you a call. One of the benefits of setting the account up beforehand is you can then send/deposit funds to account before you leave the UK. Please get in contact if you have any questions. Kind regards Peter at NAB Our customer service is often rated highly by both our clients and recognised through banking industry awards. Link to comment Share on other sites More sharing options...
PiLover Posted September 12, 2014 Share Posted September 12, 2014 Hi! I've been with Bankwest since getting here. Quick setup, excellent online banking facilities, and you can use ATMs from any of the big 4 free of charge. Link to comment Share on other sites More sharing options...
Hitmanfc1000 Posted November 3, 2014 Share Posted November 3, 2014 Hi Peter My family and I (Girlfriend and 3 young children) were recently granted our PR visa for Australia. We are traveling for a 3 week holiday at the end of November 2014. We plan to visit job agencies, companies, and view properties but don't think we will be in a position to relocate permanently for some time (possibly another couple of years or so). Is it worth us opening bank accounts in Australia? can we even do this at this time? Or should we just wait until we are clearer of a date when we are likely to move from the UK to Australia? Kind regards Frank Link to comment Share on other sites More sharing options...
Guest Peter at NAB Posted November 3, 2014 Share Posted November 3, 2014 Hi Peter My family and I (Girlfriend and 3 young children) were recently granted our PR visa for Australia. We are traveling for a 3 week holiday at the end of November 2014. We plan to visit job agencies, companies, and view properties but don't think we will be in a position to relocate permanently for some time (possibly another couple of years or so). Is it worth us opening bank accounts in Australia? can we even do this at this time? Or should we just wait until we are clearer of a date when we are likely to move from the UK to Australia? Kind regards Frank Hi Frank Yes there could be a number of benefits in setting the account up for this trip. If you'd like to give me a call we can have a chat about it and then you can decide if it will be worthwhile. My number in London is 0141 958 7533. Look forward to speaking with you. Kind regards Peter at NAB Link to comment Share on other sites More sharing options...
MovingtoTasmania Posted November 3, 2014 Share Posted November 3, 2014 I've just set up my account with NAB. Very quick and easy. It says on the form it takes around 10 mins. It actually took about 5. I'm happy and Peter, despite his refusal to buy my house, has been great too :wink: Link to comment Share on other sites More sharing options...
Hitmanfc1000 Posted November 4, 2014 Share Posted November 4, 2014 Thanks Peter. I called the number that you provided, but unfortunately you were out of the office. I spoke with your colleague Liz, who was most helpful, and have completed the online application for an Australian bank account. Thanks again for the quick response. Kind regards Frank Link to comment Share on other sites More sharing options...
Hitmanfc1000 Posted November 4, 2014 Share Posted November 4, 2014 I've just set up my account with NAB. Very quick and easy. It says on the form it takes around 10 mins. It actually took about 5. I'm happy and Peter, despite his refusal to buy my house, has been great too :wink: Thanks, it was extremely easy to apply for an NAB account as you stated. Kind regards Frank Link to comment Share on other sites More sharing options...
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