Opening a bank account in Australia as an international student should be simple. You’d think major banks would have this process down to a science, given they process thousands of student accounts every year. Instead, I managed to mess it up twice before getting it right.
I’m finishing my Master’s at the University of Melbourne, and my first attempt at opening a bank account involved showing up to a CommBank branch with my passport and a printed email confirmation of my university offer. The staff member looked at my documents, smiled politely, and explained I needed my actual visa grant notice, not just the offer letter. I walked out feeling like an idiot. My second attempt was at NAB, where I had the right documents but hadn’t booked an appointment, and the wait time was two hours on a Monday afternoon. I left and came back on Wednesday.
So here’s exactly how to open a bank account in Australia as an international student, with every step spelled out based on what actually worked. Not what the bank websites say in their vague FAQ sections, but the real process including the parts they don’t mention.
Why You Need an Australian Bank Account Immediately
Let me be clear about timing. You need an Australian bank account within your first week of arriving. Not your first month, your first week. Everything in Australia runs through bank accounts, and using your home country card for daily transactions will cost you ridiculous amounts in foreign transaction fees.
My flatmate tried to tough it out using his Indian bank card for three weeks while “figuring things out.” He paid roughly $150 in foreign transaction fees alone during that time, not counting the terrible exchange rates his bank gave him. That’s $150 he burned for no reason other than procrastination. The cost of living in Melbourne is expensive enough without adding unnecessary banking fees.
You’ll need an Australian bank account to receive your pay from part-time work, pay rent, split bills with flatmates, and make everyday purchases without getting destroyed by fees. Some landlords won’t accept rent payments from overseas accounts. Some employers can’t or won’t pay wages internationally. You’re making your life significantly harder by delaying this.
The good news is that once you know what documents to bring and which bank to choose, the actual process takes 20-40 minutes. The setup happens fast. It’s the preparation that trips people up.
Choose Your Bank First
Before you walk into any branch, decide which bank you’re opening an account with. Don’t wander into random banks and compare options in person. That’s wasting everyone’s time, including yours. Do your research online first, pick a bank, then execute.
I’ve written a detailed comparison of the best bank accounts for international students in Australia, but here’s the short version. For most international students, Commonwealth Bank (CommBank) or NAB are the safest picks. They have the most branches, the largest ATM networks, established processes for international students, and their staff actually know how to handle student visa documentation.
CommBank is the biggest and most convenient. NAB positions itself as more student-friendly. Westpac and ANZ are fine too but offer nothing compelling that makes them better choices. HSBC makes sense if you’ll be receiving money from overseas regularly. Digital banks like Up are excellent but require you to already have an Australian bank account to verify your identity, so they work better as a second account.
Pick one. Don’t overthink it. You can always open additional accounts later if you need specific features. But for your first Australian bank account, bigger and more established is better. The time to experiment with trendy digital banks is after you’ve sorted out the basics.
Required Documents Checklist
This is where I stuffed up initially. The bank websites list documents you need, but they don’t explain clearly which specific versions or what formats they accept. Here’s exactly what you must bring to open a bank account in Australia as an international student.
Essential documents (you must have all of these):
- Your passport (physical passport, not a copy or photo)
- Your student visa grant notice (the official document from Department of Home Affairs showing your visa was approved, with your visa grant number)
- Your Confirmation of Enrolment (COE) from your Australian university (the official document with your course details and student number)
Helpful additional documents (bring these if you have them):
- Proof of Australian address (rental agreement, utility bill, or letter from your accommodation provider)
- Your university student ID card if you’ve received it already
- Any other Australian ID you’ve managed to obtain (driver’s licence if you’ve done the transfer)
The visa grant notice confused me initially because I thought my visa label or my offer letter would work. They don’t. You need the actual grant notice that says “This is a record of the visa granted” with your visa subclass and grant number. You should have received this by email from the Department of Home Affairs after your visa was approved. If you can’t find it, log into your ImmiAccount and download it again.
For proof of address, most banks are flexible with international students who just arrived. If you’re staying in university accommodation, a letter from the university works. If you’re in temporary accommodation while finding permanent housing, explain this to the bank. Many will accept your university enrolment letter as temporary address verification and let you update it later. This was my situation, and CommBank accepted it without issue.
Do not show up with printouts of email screenshots or photos on your phone. Print actual documents or have official PDFs on your phone that you can show. Banks need to verify and sometimes make copies of these documents, so poor quality photos from your phone won’t work.
Option 1: Opening an Account After Arriving (In-Branch)
This is how most international students open their first Australian bank account, and it’s what I did. You physically visit a bank branch with your documents, and they process everything in person. It’s the most straightforward option for your first account.
Step 1: Book an appointment online
Don’t just walk in. Most banks let you book appointments online for new accounts. Go to the bank’s website, find their branch locator, select a branch near you (university campuses usually have branches nearby), and book an appointment. Morning appointments on Tuesday through Thursday tend to be less busy than Monday or Friday afternoons.
I tried walking in without an appointment twice and regretted it both times. NAB quoted me a two-hour wait. CommBank said they’d fit me in “when someone became available” which turned into 90 minutes of sitting awkwardly in their waiting area. Book the appointment. It takes two minutes online and saves you hours of waiting.
Step 2: Arrive 5-10 minutes early with all your documents
Get there slightly early. Have your documents organised in a folder or envelope so you’re not fumbling through your bag searching for papers. The staff member will need to see and photocopy or scan multiple documents, so having them ready speeds everything up.
Dress normally. You don’t need to wear a suit or anything formal, but rolling up in gym clothes covered in sweat after a workout probably isn’t ideal. Banks are professional environments, dress accordingly. I went in jeans and a casual shirt and nobody cared.
Step 3: The bank staff will verify your identity and documents
The staff member will check your passport, verify your visa status, and confirm your student enrolment. They’ll ask questions about your course, how long you’re planning to stay in Australia, and what you’ll be using the account for. Answer honestly. These are standard verification questions, not an interrogation.
They’re checking that you’re a legitimate student, that your visa allows you to open a bank account, and that you meet their requirements. If your documents are in order (passport, visa grant notice, COE), this part takes about five minutes. They’ll scan or photocopy everything for their records.
Step 4: Choose your account type and features
They’ll explain the different account options. For international students, you want a standard everyday/transaction account with no monthly fees. Every major bank has a student account with fee waivers. Make sure they set this up, not a regular account that charges $5-6 monthly fees.
Ask explicitly: “Will I be charged any monthly account fees as a student?” Make them confirm on their system that your account is set up with student status and fee waivers. I’ve heard too many stories of students getting charged fees because the bank staff forgot to flag the account properly. Check your first few monthly statements to confirm no fees are being deducted.
They’ll also offer you a savings account to pair with your everyday account. You can accept this or decline. I accepted because it was easy, but I barely used the savings account initially. It doesn’t hurt to have it set up though. More on the differences in my guide about everyday accounts vs savings accounts.
Step 5: Set your PIN and security questions
You’ll need to choose a 4-digit PIN for your debit card and set up security questions for phone banking. Use a PIN you’ll remember but isn’t obvious (not 1234 or your birth year). Write it down somewhere secure at home if you’re worried about forgetting it. I forgot my PIN twice in the first month and had to reset it both times, which was embarrassing.
Security questions are things like “What was your first pet’s name?” or “What city were you born in?” Answer honestly and write down your answers. You’ll need these if you ever call customer service and they need to verify your identity. I couldn’t remember one of my security answers and had to visit a branch with my passport to reset it.
Step 6: Receive your temporary access and cards
Most banks will give you something to use immediately. CommBank gave me a temporary physical card that worked for purchases right away. NAB set me up with a digital card that I could add to Apple Pay instantly. The specific process varies by bank, but you should leave the branch with some way to access your account immediately.
Your permanent debit card arrives by post within 5-7 business days at your address. When it arrives, you’ll need to activate it. This usually involves calling a phone number, using the bank’s app, or logging into online banking and following activation instructions. The temporary card stops working once you activate the permanent one.
Step 7: Set up online banking and download the app
The staff will help you register for online banking and download the bank’s mobile app during your visit. Do this before you leave the branch. Having the app installed and working while you’re still sitting with the bank staff means you can troubleshoot any immediate problems.
The app is how you’ll manage your account going forward. You’ll check your balance, transfer money, pay bills, set up contactless payments with Apple Pay or Google Pay, and do basically everything else. Make sure you understand how to log in and navigate the basic functions before leaving.
Enable transaction notifications immediately in the app settings. This gives you instant alerts every time money goes in or out of your account, which helps you track spending and catch fraudulent transactions. I enabled this after my first month and wished I’d done it from day one.
Option 2: Pre-Arrival Account Opening
Some banks let international students start the account opening process before arriving in Australia. CommBank and Westpac both offer this, and it can save some time during your first chaotic week in Australia. I didn’t use this option myself, but several friends did.
The process works like this:
You visit the bank’s website and find their international student or “moving to Australia” section. Fill in an online application with your details: passport information, course details, expected arrival date, and planned Australian address (you can list your university or temporary accommodation initially).
The bank will ask you to upload scans or photos of your documents: passport, visa grant notice, and COE. They’ll review these remotely and may contact you by email or phone to verify details or request additional information. This can take anywhere from a few days to two weeks depending on how quickly you respond and how busy they are.
Once approved, you’ll receive account details and possibly a temporary account number. Some banks will send you a debit card internationally to your home country address. CommBank does this. The card arrives inactive, and you activate it after landing in Australia.
Here’s the catch: You still need to visit a branch within a certain timeframe after arriving in Australia to complete verification. Banks call this “finalising your account” or “completing verification.” You bring your physical documents to prove they match what you submitted online. This visit is shorter than opening an account from scratch (maybe 15-20 minutes), but it’s still required.
The advantage of pre-arrival opening is having account details and possibly a card ready when you land. The disadvantage is the process is slower (lots of waiting for email responses) and you still need to visit a branch anyway. For organised people who hate stress, it’s worth doing. For people like me who prefer sorting things out in person, just wait until you arrive and do it all at once.
If you’re interested in pre-arrival setup, check CommBank’s “moving to Australia” page or Westpac’s international student banking section. NAB and ANZ generally want you to be in Australia before opening an account.
Option 3: Online Account Opening After Arrival
Digital banks like Up, and some traditional banks, let you open accounts entirely online after you’ve arrived in Australia. This sounds convenient, but it’s trickier for international students than in-branch opening.
The problem is identity verification. Banks need to verify you are who you claim to be, using government-issued ID that’s registered in Australian systems. For most international students, your passport and student visa aren’t in the standard Australian verification databases that online banking systems use. They want things like Australian driver’s licences or Medicare cards.
This is why Up requires you to already have an Australian bank account before you can verify your identity with them. Their system uses your existing Australian bank account details as proof of identity. It’s circular: you need an Australian bank account to open an Australian bank account with Up.
Some banks like Macquarie and ING offer online account opening that works for international students, but the verification process takes longer (sometimes several days) because they need to manually check your documents. You’ll upload photos of your passport and visa grant notice, then wait for approval. Once approved, your card takes another week to arrive.
My recommendation: open your first account in-branch at CommBank or NAB. Once you have that established, you can open additional accounts online with digital banks if you want their specific features. Trying to do everything online from scratch as an international student creates unnecessary delays and frustration during your first week when you need money access urgently.
What Happens After Your Account Is Open
You’ve opened your account, you have access to your card and app, and now what? Here’s what you need to do in the first few weeks to ensure everything works properly.
Test your card immediately. Make a small purchase at a shop or café using your card. Confirm it works for tap payments and that the transaction appears in your app within seconds. If there’s a problem, you want to discover it immediately while the solution is easy, not three days later when you need to pay rent.
Deposit your initial money. If you brought cash or traveller’s cheques (though nobody uses these anymore), deposit them into your account. You can do this at ATMs or in branches. Most students transfer money from their home country account once their Australian account is set up. I used Wise for my first transfer because the exchange rates were much better than bank-to-bank transfers.
Apply for your TFN. You need a Tax File Number to work in Australia, and you can apply for it immediately after arriving. Banks don’t require your TFN to open an account, but you should apply for one within your first week. More details in my guide about what a TFN is and how to apply.
Update your TFN with the bank later. Once you receive your TFN (takes 2-4 weeks after applying), log into your bank’s online banking and add it to your account profile. This ensures any interest you earn on savings is taxed correctly. If you don’t provide a TFN, the bank will withhold tax at the highest rate from any interest earned.
Link your accounts if you have multiple. If you set up both an everyday account and a savings account, make sure they’re linked in the app so you can transfer money between them easily. Most banks do this automatically, but verify it works.
Set up any automatic payments you need. If your rent is the same amount every week or fortnight, set up an automatic scheduled transfer. Same for any other regular bills. This ensures you never miss payments and helps you budget. I set up automatic rent payments after forgetting twice and annoying my landlord.
Check your monthly statements. For the first few months, actually look at your monthly bank statements when they arrive (usually by email). Confirm you’re not being charged fees you shouldn’t be charged. Check that all transactions are legitimate. This is how you’ll catch problems early. After a few months of no issues, you can probably stop checking every statement obsessively.
Common Problems and How to Fix Them
I’ve watched enough international students navigate this process to know where problems typically occur. Here’s what goes wrong and how to solve it.
Problem: Bank says your visa isn’t in their system
This happened to my friend who tried opening an account the day after his visa was granted. The bank’s verification system couldn’t find his visa yet because it hadn’t synced with the Department of Home Affairs database. The solution was to come back three days later, and his visa verified fine. If you’ve just received your visa grant, wait a few days before trying to open a bank account.
Problem: You don’t have proof of Australian address yet
Tell the bank staff honestly that you just arrived and are in temporary accommodation while searching for permanent housing. Most banks will accept your university enrolment letter or accommodation confirmation as temporary proof. They’ll let you update your address later through online banking once you’ve secured permanent accommodation. Don’t lie about an address you don’t actually have.
Problem: Your documents are in a language other than English
If your passport or other documents aren’t in English, you’ll need certified English translations. This is rare for passports since most include English, but some supporting documents might need translation. Check with the bank beforehand about their requirements. Generally, if your passport is in English and your visa documentation is in English (which it should be), you’re fine.
Problem: You’re under 18 years old
Some Australian banks have restrictions on account types for people under 18. You’ll likely need a parent or guardian to co-sign or open a joint account. This is complicated for international students whose parents aren’t in Australia. Talk to your university’s international student support services because they’ll have dealt with this situation before and can recommend banks that handle it properly.
Problem: The bank denies your application
Rare, but it happens. Usually because of documentation issues or because something in your visa status doesn’t meet their criteria. Ask specifically why you were denied. If it’s a documentation problem, fix the documentation and try again. If it’s a bank policy issue, try a different bank. CommBank and NAB are generally the most accommodating for international students.
Problem: Your card arrives but doesn’t work
You need to activate new cards before they work. Check the letter that came with your card for activation instructions. Usually you call a phone number or use the bank’s app to activate. If you’ve activated it and it still doesn’t work, the card might be faulty. Contact the bank and they’ll send a replacement.
Problem: You forgot your PIN
Call the bank’s customer service or visit a branch with your passport. They’ll verify your identity and let you reset your PIN. This takes about five minutes over the phone or in person. Don’t try to guess your PIN repeatedly because the card will lock after several wrong attempts, which creates more problems. For more issues about cards, check my guide on what to do if you lose your bank card.
Understanding Bank Fees and How to Avoid Them
Australian banks love fees, but international students can avoid most of them by understanding how they work. I paid about $180 in unnecessary fees during my first year because I didn’t know what I was doing. Learn from my expensive mistakes.
Monthly account-keeping fees are the most common and most avoidable. These are $4-6 per month and apply to regular everyday accounts. Student accounts waive these fees if you meet certain criteria, usually being under a certain age (25-30 depending on bank) or proving you’re a full-time student. Make sure your account is flagged as a student account when you open it.
Some banks require you to re-verify your student status annually. If you forget to do this, they’ll start charging monthly fees without warning. Set a calendar reminder to update your student verification documents every year before your anniversary date. I got charged three months of fees ($18 total) because my student verification expired and I didn’t notice.
ATM fees occur when you use another bank’s ATM. If you have CommBank and use a Westpac ATM, you might pay $2-3. Use your own bank’s ATMs to avoid this. This is why choosing a bank with a large ATM network matters. I covered this more in my guide about bank fees in Australia and how to avoid them.
International transaction fees apply when you use your card overseas or for purchases in foreign currencies. These are typically 2-3% of the transaction amount. If you travel or shop from international websites frequently, consider a bank like HSBC or a digital bank like Up that doesn’t charge these fees. Otherwise, you’re paying extra for no reason.
Transfer fees apply to certain types of transfers, particularly international transfers. Transferring money between your own accounts at the same bank is free. Transferring to another person at a different Australian bank using PayID or BSB/account number is usually free. Sending money internationally gets expensive. Read my guide on international money transfer options if you need to send money overseas regularly.
Dishonour fees happen when you don’t have enough money in your account to cover a scheduled payment or direct debit. The bank charges you $5-15 for the failed payment. Avoid this by keeping track of your balance and scheduled payments. Overdraft fees work similarly if you go into negative balance. Don’t spend money you don’t have.
The key to avoiding fees is reading your account’s terms and conditions (boring but necessary), understanding what triggers fees, and checking your statements monthly to catch any unexpected charges. Most fees are avoidable with basic awareness and planning.
Setting Up Your Banking App Properly
Your bank’s mobile app is where you’ll do 95% of your banking. The actual bank branch becomes mostly irrelevant after your first visit. Setting up the app properly from the start saves frustration later.
Download the official app only. Banks don’t have multiple apps. CommBank has one official app, NAB has one official app, and so on. Download it from the official app store (Apple App Store or Google Play Store), not from random websites. Scam apps exist that look like real banking apps but steal your login details.
Enable biometric login (fingerprint or face recognition). This makes logging in much faster than typing a password every time. You’ll check your banking app multiple times daily, so biometric login is worth setting up. It’s also more secure than typing passwords in public where people might see.
Set up transaction notifications. I’ve mentioned this multiple times because it’s genuinely important. Enable push notifications for every transaction. Your phone will notify you instantly when money enters or leaves your account. This helps you track spending, catch fraudulent charges immediately, and avoid overdrafts.
Explore the app’s features. Most banking apps let you lock your card temporarily if you’ve misplaced it, set spending limits, categorise transactions, transfer money, pay bills, and set up scheduled payments. Take 10 minutes to click through the app and understand where everything is. You’ll use most of these features eventually.
Add your card to Apple Pay or Google Pay. The app usually has a section for this. You can add your debit card to your phone’s digital wallet in about two minutes, which lets you pay by tapping your phone instead of carrying your card. I explained this process fully in my guide on using contactless payments.
Set up your security properly. Enable two-factor authentication if your bank offers it. Update your security questions to answers you’ll actually remember. Choose a strong password that you’re not using for other services. Basic security hygiene matters when your money is involved.
What About Savings Accounts?
When you open an everyday account, the bank will usually offer to set up a savings account at the same time. Should you accept this? Probably yes, even if you don’t think you’ll use it immediately. It costs nothing to have a savings account sitting empty, and having it set up means you can start using it whenever you want.
Savings accounts earn interest on money you don’t need for daily spending. The interest rates in Australia are currently low (maybe 4-5% per year at best), but earning 4% is better than earning 0% in your everyday account. If you have money sitting in your account that you’re not spending for at least a few months, move it to savings.
Most banks have complicated conditions for earning bonus interest. You need to deposit a certain amount monthly, make a certain number of purchases on your everyday account card, not withdraw from savings, and jump through various other hoops. I find these requirements annoying and usually ignore them. Even the base interest rate (without bonuses) is better than nothing.
Some students keep their emergency fund in savings accounts. Some save up for rent or large purchases in savings. I keep mine mostly empty and use a digital bank like Up for actual saving because their app makes it easier to separate money into different saving goals. But having the savings account available means you have options.
The important distinction: your everyday account is for spending, your savings account is for not spending. Don’t make this complicated. More detailed explanation in everyday account vs savings account differences.
Using Your Bank Account for the First Time
You’ve got your account open, your card activated, your app working. Now you need to actually use it. Here’s what typically happens in your first week with your new Australian bank account.
Your first purchase will feel weirdly mundane. You’ll buy a coffee or something at a shop, tap your card on the terminal, it’ll beep, transaction approved, done. Check your app immediately after to confirm the purchase appears. This verifies everything is working. I was genuinely surprised how anticlimactic my first Australian card purchase was after all the stress of setting everything up.
Transferring money from home is usually the next big task. You need to get money from your home country account into your new Australian account. Banks can do international transfers, but their fees and exchange rates are terrible. Use a service like Wise, Remitly, or similar. They’re cheaper and faster. You’ll need your Australian bank’s BSB number (a 6-digit code that identifies your bank branch) and your account number. These are shown in your banking app.
Splitting bills with flatmates happens constantly in Australia. Someone pays for groceries, everyone else transfers their share. Use PayID if your bank supports it (most do now). PayID lets you transfer money using someone’s phone number or email instead of needing their BSB and account number. It’s instant and free. I use PayID multiple times per week.
Paying rent varies depending on your landlord. Some want regular bank transfers, some want you to set up automatic scheduled payments, some want direct debit authority. Ask your landlord what they prefer and set it up through your banking app. Missing rent payments because you forgot isn’t a good look.
Withdrawing cash from ATMs works like ATMs anywhere. Insert your card, enter your PIN, select withdrawal amount, take your money and card. Remember to use your own bank’s ATMs to avoid fees. I use cash rarely now since contactless payments work everywhere, but it’s worth withdrawing a small amount initially to confirm your card and PIN work for cash withdrawals.
Tips That Actually Matter
After opening bank accounts for myself and helping several friends through the process, here’s what makes a real difference.
Do this in your first week. Not your first month, your first week. Every day you delay costs you money in foreign transaction fees from using your home country card. I calculated that my flatmate’s three-week delay cost him about $150 in unnecessary fees. That’s not insignificant.
Bring extra documents. Even if the bank website says you only need passport, visa, and COE, bring any other Australian documents you have. University student ID, rental agreement, anything official. More documentation makes the process smoother and gives the bank options if they need additional verification.
Ask about student fee waivers explicitly. Don’t assume the bank will automatically apply them. Say: “I’m a full-time international student. What account type has no monthly fees for students?” Make them show you on their system that your account is set up correctly with fee waivers. Then check your first few monthly statements to confirm.
Get the banking app working before you leave the branch. Download it, log in, verify it works while you’re sitting with bank staff. This way, if there’s a problem with your login or app access, they can fix it immediately. Trying to troubleshoot app problems from home via phone support is significantly more annoying.
Keep your documents organised. Take photos of your passport, visa grant notice, COE, and any other important documents. Store these securely in cloud storage or email them to yourself. If you ever need to verify your identity or open additional accounts, having digital copies makes life easier.
Don’t open accounts with random banks. Stick to the Big Four (CommBank, NAB, Westpac, ANZ) or well-known banks like HSBC for your first account. Experimental digital banks or obscure regional banks can come later after you understand how Australian banking works. Your first account needs to be reliable and straightforward.
Plan for this to take an hour total. The appointment itself is 20-40 minutes. Add travel time, possible waiting despite having an appointment, and time to sort out any unexpected issues. Block out an hour in your schedule. Don’t book your account opening appointment 30 minutes before a class.
Finally, remember this is temporary stress. Opening a bank account feels like a huge deal when you’re doing it, but within a week you’ll barely remember the process. Within a month it’ll be completely normal. You’re building the basic infrastructure for your life in Australia, and bank accounts are foundational infrastructure. Get it done early and properly, then move on to the next thing.
Frequently Asked Questions
Can I open an Australian bank account before I arrive in Australia?
Yes, some banks allow partial pre-arrival setup for international students. CommBank and Westpac both offer this option where you can complete much of the application online before arriving, and they may even send your debit card to your home country. However, you’ll still need to visit a branch within a few weeks of arriving to verify your documents in person and complete the account setup. NAB and ANZ typically require you to be in Australia before opening an account. While pre-arrival setup can save some time, it’s honestly not necessary. Opening an account after arrival takes 30-40 minutes and works fine for most students.
How long does it take to open a bank account in Australia as an international student?
The in-branch appointment takes 20-40 minutes if you have all the correct documents (passport, visa grant notice, and COE). You’ll usually receive temporary access to your account immediately or within a few hours. Your permanent debit card arrives by mail within 5-7 business days. If you’re doing pre-arrival setup online, the verification process can take 1-2 weeks depending on how quickly you respond to their requests and how busy the bank is. The fastest option is booking an in-branch appointment and bringing all required documents. I had my account open and working within 30 minutes, with my permanent card arriving six days later.
What documents do international students need to open a bank account in Australia?
You must have three essential documents: your physical passport (not a copy), your student visa grant notice from the Department of Home Affairs (showing your visa was approved), and your Confirmation of Enrolment from your Australian university. Additionally helpful but not always required: proof of your Australian address (rental agreement or accommodation letter) and your university student ID if you’ve received it. Don’t bring offer letters or visa application receipts. Banks need the actual visa grant notice, not preliminary documents. I made the mistake of bringing my offer letter initially, and the bank couldn’t accept it.
Do I need a Tax File Number (TFN) to open a bank account?
No, you don’t need a TFN to open a bank account in Australia. Banks will open accounts for international students without a TFN. However, you should apply for your TFN within your first week in Australia because you’ll need it to work legally. Once you receive your TFN (takes 2-4 weeks after applying), you should update your bank account with it through online banking. If you don’t provide a TFN, the bank will withhold tax at the highest rate from any interest you earn, which is a waste of money. The account opens without it, but add it once you have it.
Which bank is best for international students in Australia?
CommBank or NAB are the safest choices for most international students. CommBank has the largest ATM and branch network in Australia, making it convenient everywhere. NAB positions itself as student-friendly and has good international student support. Both offer student accounts with no monthly fees and handle student visa documentation properly. If you receive money from overseas regularly, add HSBC Everyday Global as a second account for better exchange rates. If you want better budgeting features after you’re established, digital banks like Up work well as secondary accounts. Start with one of the Big Four, add specialised accounts later if needed.
Can I open multiple bank accounts in Australia as an international student?
Yes, you can open accounts with multiple Australian banks. There’s no limit or restriction. Many students have one main everyday account with a Big Four bank for daily transactions and ATM access, plus a second account with HSBC for international transfers or Up for savings and budgeting. I currently have two accounts and find this setup works well. However, start with one account first. Get comfortable with Australian banking before adding complexity. Once your first account is established and working, you can open additional accounts online or in branches if you need specific features your main bank doesn’t provide well.
Final Thoughts
Opening a bank account in Australia as an international student sounds intimidating before you do it, but the actual process is straightforward once you understand what’s required. You need the right documents, 30 minutes at a bank branch, and basic attention to detail. That’s it.
I spent days stressing about this before my first attempt, researched extensively, then still managed to mess it up by bringing the wrong documents. My actual successful attempt took 32 minutes from walking into the CommBank branch to walking out with a working temporary card. All that stress for half an hour of administrative processing.
The key is preparation. Know which bank you’re opening with before you go. Have your passport, visa grant notice, and COE organised and ready. Book an appointment online to skip the waiting. Ask explicitly about student fee waivers. Set up the banking app before you leave the branch. Check your first few statements for unexpected fees. These simple steps prevent 90% of the problems students encounter.
Don’t delay this task. Do it in your first week in Australia, preferably your first few days. Every day you put it off costs you money in foreign transaction fees and limits what you can do here. Paying rent, receiving pay from work, splitting bills with flatmates, all of these require an Australian bank account. The sooner you sort this out, the sooner you can move on to more interesting aspects of being in Australia.
Want more practical information about managing money in Australia? Check out my guides on choosing the right bank, understanding different card types, and avoiding bank fees. And if you’re curious about what students actually spend money on here, I’ve broken down the cost of living in Melbourne in detail.
Opening a bank account in Australia is one of your first major administrative tasks as an international student. Get it done properly, get it done early, and then forget about it and focus on why you actually came here. The banking system in Australia works well once you’re in it. The hardest part is the initial setup, and now you know exactly how to do that without making the mistakes I did.