Bank accounts in AUS

$h0jA Active member

Member since 02 March 2013

$h0jAActive member10 February 2015 08:57:28

Good day every1 ;

I bet choosing a proper accounting option can be pesky sometimes. Here, I list four major banks in AUS with some details:

- Commonwealth Bank of Australia (CBA) Private
-Australia and New Zealand Banking Group (ANZ) Public
-Westpac / Public
-National Australia Bank ? Public

Well, my favorite is CBA due to it's convenience in online banking, mobile banking and good interest rates. You can easily open an account before your departure (Even if it's 1st time visiting AUS) and send money to your account online. Once you're there, just show your passport and you have access to your money same time. Applying for a debit or credit card usually takes up 7-10 days.Below, the accounts comparison is shown for CBA with detailed explanation
CBA accounts comparison

ANZ does a good job as well. Check out their various accounts information:
ANZ saving accounts

I never tried Westpac. See it for yourself:
Westpac everyday accounts

Lastly, is NAB. I seen many students have account in this bank after CBA.
NAB accounts

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Dan_Y Member

Member since 07 January 2015

Dan_YMember10 February 2015 12:52:28

Very useful topic!! thumps up!!

ABCDiamond Serial expat

Member since 08 December 2010

ABCDiamondSerial expat23 February 2015 04:51:53

873

I have personally held accounts with all those Banks at some stage. I ended up staying with NAB, as I get free banking even without needing a regular income into the account, or a minimum balance.

The interest rate on deposits is only 3.25% pa on my linked saver account at the moment though.
Actually that rate is pretty high compared to many other Australian banks.

$h0jA Active member

Member since 02 March 2013

$h0jAActive member23 February 2015 07:56:01

ABCDiamond wrote:
I have personally held accounts with all those Banks at some stage. I ended up staying with NAB, as I get free banking even without needing a regular income into the account, or a minimum balance.

The interest rate on deposits is only 3.25% pa on my linked saver account at the moment though.
Actually that rate is pretty high compared to many other Australian banks.

True, I've heard of interest rate for NAB, but I guess it's for business accounts or something like that. What was the initial amount which you paid to open up the account?
As a student, I'm really happy with CBA even though I have NAB as well

ABCDiamond Serial expat

Member since 08 December 2010

ABCDiamondSerial expat23 February 2015 08:19:32

873

Its a personal account.
The NAB web site quotes: no minimum balance, or required opening balance.

The good thing is that they are easy to talk too for info. I've found them very helpful.

They also allow Student Visa holders to open an account. Some banks don't, or at least didn't three years ago.

Jessi007 Active member

Member since 21 October 2015

Jessi007Active member22 October 2015 13:28:39

I would agree I have done business with Commonwealth Bank of Australia and have never had a problem.

would highly recommend them

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ABCDiamond Serial expat

Member since 08 December 2010

ABCDiamondSerial expat23 November 2015 00:26:05

873

I was reading reviews of the major 5 high street banks today. Looking at the review totals would make me never want to bank at any of them them. (But reading each individual review made me realise that some reviews are not exactly the banks fault)

I have actually banked at all 5, and none were actually that bad ALL the time.
All were bad at some stage, and even caused me to close my accounts at all but one of the five. I almost closed at all five, but I needed one, and chose to keep the NAB as I would not go back to the others.

In all honesty they are all the same, assuming you get an account with no fees.

They will all stuff up at some stage. But most of the time you will have no problems.