Money & Banking
The following banks are guaranteed by the Reserve Bank of Australia.
||13 17 18
||13 24 84
||13 22 21
||1300 308 008
||1800 806 301
|National Australia Bank
||13 22 65
|St. George Bank
||13 20 32
Opening an Australian bank account.
To open the account you’ll need to take along some identification (ID), such as a passport, a birth certificate, and/or a driver’s licence. Your bank can tell you exactly what you’ll need to bring.
You will also need to provide your tax file number (TFN) so that you can be identified for tax purposes. While this isn’t essential, if you don’t provide your TFN, any interest your accounts earn will be taxed at the highest rate.
Will my ATM card work in Australia?
ATM (Automatic Teller Machines) cards can be used in Australia so long as they have been enabled for international access.
Your ATM card must carry either the CIRUS, PLUS or STAR international ATM mark or the Interlink or Maestro POS mark.
Tax file number (TFN)
Tax file numbers (TFNs) are unique numbers issued by the Australian Taxation Office (ATO) to identify individuals, companies and others who lodge income tax returns.
All international students are considered a ‘resident for tax purposes’ after they have lived in Australia for more than 6 months.
Application forms can be downloaded from the Australian Tax Office (ATO) website or you can apply in person at your local Post Office.
To cover your initial expenses we recommend you bring a bank cheque to the value of A$1500.00.
Once you have opened a bank account, the bank cheque can be deposited into it. It may take a few days for the bank cheque to clear so we recommend that you bring approximately A$300 in cash to cover costs until the funds are cleared.