When You're Here

Yes. While you can use your home bank account initially, having an Australian account makes it much easier to receive wages, pay rent and avoid international transaction fees.

The most popular banks in Australia are Commonwealth Bank (CommBank), Westpac, ANZ and NAB.

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Up Bank is also a popular online bank and is most similar to Monzo, with great budgeting features and instant spending notifications.

Most accounts can be opened the same day, with digital banking access available immediately. Physical bank cards usually arrive within 5 to 10 business days.

​PayID is a simple way to send and receive money instantly using your phone number or email address instead of your bank account details. Most Australian banks support it.

Some banks allow you to start the application online before arriving in Australia. You'll usually need to visit a branch after arrival to verify your identity.

Usually you'll need:

• Passport
• Visa details
• Australian address (temporary accommodation is often accepted)
• Australian phone number (sometimes requested)

​Many banks offer fee-free everyday accounts for new arrivals or under certain conditions. Always check for monthly account fees before opening an account.