Australia — Banking: Opening Account

Key facts

• Non-residents can generally open an account with a Big Four bank (CommBank, Westpac, ANZ, NAB) online before arriving in Australia, using a passport and visa information
• If you apply and complete identity verification within 6 weeks of arriving in Australia, your foreign passport alone usually satisfies the standard '100 points of ID' requirement
• Some banks offer accounts specifically designed for new migrants, temporary residents, or international students, sometimes with fee waivers
• Even if opened remotely, most accounts require an in-person branch visit after arrival to verify identity before full functionality (e.g. withdrawing funds, full online banking) is unlocked
• Online and mobile banking is widely available and used by the large majority of Australians for everyday banking

Steps

1. Step 1: Choose a Bank — Research and select a bank that offers accounts for foreigners or non-residents — the Big Four (CommBank, Westpac, ANZ, NAB) all support this. Consider fees, remote application options, and mobile app quality.
2. Step 2: Gather Required Documents — Collect a valid passport and, if applicable, visa details. Proof of address is generally not required until after you arrive and can provide an Australian address.
3. Step 3: Apply for an Account — Submit an application online (often up to a few months before arrival) or in person after arriving. Provide the required identification.
4. Step 4: Verify Identity In-Branch — Visit a branch in Australia, ideally within 6 weeks of arrival, with your passport to complete identity verification and gain full access to the account, including withdrawals.

Costs

• Application fee: Typically no fee to open a standard everyday account with the Big Four banks
• Monthly maintenance fee: Varies by bank and account type — several everyday accounts (e.g. NAB's basic account, Westpac Choice for students/temporary residents) have no monthly fee if eligibility conditions are met

Timelines

• Remote application processing time: Often same-day to a few business days for the initial online application; full account access is contingent on the post-arrival branch identity check

Required documents

• Passport
• Visa details (if applying before or shortly after arrival)
• Proof of Australian address (required later, for full account features)

Common mistakes

• Applying for an account without checking the specific bank's non-resident eligibility rules
• Not completing the in-branch identity verification within 6 weeks of arrival, which can complicate using the passport alone as ID
• Assuming the account is fully functional immediately after remote application, before the in-person verification step