Bank Account Comparison — Best Banks for New Arrivals in Australia

Quick Comparison

Bank	Monthly Fee	ATM Access	Intl Transfers	App Rating	Open from Overseas
CommBank	$4/mo (waived under 25 or $2k+/mo deposit)	CommBank ATMs free, others $2-3	Available, ~$6-22 fee	4.7/5	Yes
Westpac	$5/mo (waived under 30 or $2k+/mo deposit)	Westpac/St.George/BoM ATMs free	Available, ~$6-20 fee	4.5/5	No
ANZ	$5/mo (waived under 25 or $2k+/mo deposit)	ANZ ATMs free, others $2	Available, ~$6-18 fee	4.5/5	No
NAB	$0	NAB ATMs free, others $2	Available, ~$6-18 fee	4.6/5	Yes
ING	$0	Free at any ATM (conditions apply)	No fee intl ATM withdrawals	4.6/5	No
Up	$0	Free at any ATM via eftpos cashout	No Mastercard intl fee on purchases	4.8/5	No

Open Before You Arrive

Two banks let you open an account from overseas before you land in Australia. This means your money is waiting for you on day one.

CommBank — Smart Access Account

Australia's most popular bank. Largest branch and ATM network. Open online from overseas up to 12 months before arrival. Deposit funds before you land. Activate your card at a branch with your passport within 3 months of arrival.

Largest branch network Open from overseas Best for first-timers

NAB — Classic Banking Account

No monthly fee ever. Open from overseas via the NAB website. Deposit AUD before arrival. Visit a branch within 60 days with your passport and visa to verify your identity and get your debit card.

$0 monthly fee Open from overseas No fee account

Best for Low Fees & Features

ING — Orange Everyday

No monthly fee. Free ATM withdrawals at any ATM in Australia (with 5+ card purchases per month and $1,000+ deposited). No international transaction fees on ATM withdrawals overseas. Excellent savings account rates when linked.

$0 monthly fee Free ATMs everywhere No intl ATM fees

Up — Everyday Account

Award-winning app (best-rated bank app in Australia). No monthly fee. No international Mastercard fees on purchases. Excellent savings tools with "Savers" and round-ups. Digital-first bank, no physical branches.

$0 monthly fee Best app (4.8/5) No intl purchase fees

100 Points of ID

To open a bank account in Australia, you need to provide documents totalling 100 points of identification:

Passport (foreign or Australian)70 points

Australian driver's licence40 points

Birth certificate25 points

Australian visa grant letter25 points

Medicare card25 points

Utility bill / bank statement (in your name)25 points

New arrivals tip: If you open a bank account within 6 weeks of arriving in Australia, you only need your passport as ID (the 100-point check is simplified). After 6 weeks, the full 100-point requirement applies. So open your account as soon as possible!

BSB & Account Number: Every Australian bank account has a BSB (Bank-State-Branch number, 6 digits) and an account number (usually 6-10 digits). You'll need both to receive payments, set up direct debits, and receive your salary. Your employer will ask for these on your first day.

Estimate your cost of living

See how much you'll spend on rent, food, transport, and more in your city.

Cost of Living Comparison

Disclaimer: Bank products and fees change frequently. Information shown is a general guide only and may not reflect current rates. Always check the bank's website for the latest fees and conditions. This is not financial advice.