We moved to Australia in 2013 and opened our first Australian bank account before we even landed. Since then, “which bank should I go with?” and “can I open an account from abroad?” are two of the most common questions in our Moving to Australia Facebook groups. Here’s the up-to-date answer for 2026.
Bank fees and rules change, so always check the bank’s own page (linked below) before you apply. We’re not financial advisers. This is general information from our own experience.
Can You Open an Australian Bank Account From Abroad?
Yes, but not as far in advance as you used to. Most of the big banks now let you apply online only a few weeks before you arrive, and you can’t withdraw money until you’ve shown your passport in a branch in Australia.
- CommBank: apply up to 14 days before you arrive, then verify your ID in a branch within 20 days of opening.
- NAB: apply online if you’re arriving in the next 30 days, then visit a branch within 30 days to verify your ID.
- Westpac: apply no more than 14 days before you arrive, then activate the account in a branch with your ID.
- ANZ: its ANZ Plus account is opened in the app once you’re in Australia. Classic ANZ accounts are opened online or in a branch.
Opening early means you have your account details ready to transfer money in, and you can sort the branch visit in your first week.
What Do You Need to Open a Bank Account in Australia?
- Your passport (the original, for the in-branch ID check)
- Your Australian visa details
- For some banks, an Australian mobile number and address. An eSIM or a local SIM on day one helps (see our first week in Australia checklist).
Australian banks run an identity check, often called the “100-point check”. For newcomers, your passport plus your visa is usually all you need.
Do you need a Tax File Number (TFN) to open an account?
No. You can open the account without one. Once you have your TFN, add it to your account in the app or online banking, otherwise tax can be withheld from any interest at a higher rate.
The Best Banks in Australia for Newcomers and Backpackers
All four big banks are fine for a working holiday. The main differences are monthly fees, how early you can apply, and the ATM network.
Commonwealth Bank (CommBank)
The largest ATM network in Australia and the one we used. The Everyday Smart Access account has no monthly fee if you’re under 30. If you’re over 30 the fee is waived for your first 12 months, then charged unless you meet the conditions (for example, depositing $2,000+ a month). No Australian address is needed to set it up. CommBank moving to Australia
NAB
The NAB Classic Banking account has a $0 monthly account fee, which makes it one of the simplest no-fee options. You can start online within 30 days of arriving. NAB banking in Australia
ANZ
ANZ Plus Everyday has no monthly account service fee and is opened in the ANZ Plus app once you’re in Australia. The classic Access Advantage account has a fee that’s waived if you deposit $2,000+ a month. ANZ migrant banking
Westpac
Westpac recommends its Choice everyday account for new arrivals, which you can open up to 14 days before you land. Check the current fee and waiver conditions on their page. Westpac new to Australia
How to Choose the Best Bank for You
- Monthly fees: many accounts are free at first or with conditions, so check what happens after 12 months or if you’re over 30.
- ATMs: using your own bank’s ATMs is free, while other banks’ ATMs can charge. CommBank has the most ATMs, which matters outside the cities and on regional work.
- The app: you’ll do almost everything on your phone, so a good app counts.
- International transfers: banks often advertise “free” transfers, but the cost is hidden in the exchange rate. Compare how much actually arrives.
Getting Your Money to Australia (Without Losing It to the Bank)
When we first moved, we sent our savings through our bank and lost hundreds on the exchange rate. Don’t make the same mistake. These are the services we recommend in our groups:
- Wise: our go-to for everyday transfers. Great rates, low and clear fees, and your first transfer is free with our link.
- TorFX: our pick for larger sums ($5,000+), like your visa savings, a car or a bond. No transfer fees, and you get your own account manager to talk to about the rate.
More detail: the best way to send money to Australia.
Our Quick Recommendation
- A couple of weeks before you fly, apply online with CommBank or NAB (or Westpac).
- Transfer your savings with Wise, or TorFX for bigger amounts.
- In your first week, take your passport to a branch to verify your ID and collect your card.
- Add your TFN to the account once it arrives.
Planning the move? Read our Working Holiday Visa checklist and 100 things we wish we knew before moving to Australia.
- Working holiday in Australia: the complete guide (all our Australia posts in one place)
- How to send money to Australia
- Working holiday visa Australia checklist
- Moving to Melbourne
Steve and Sabina
Planning your trip? Pin this guide to your Pinterest board for later.
Some links are affiliate links. If you use them we may earn a small commission at no extra cost to you. We only recommend services we and our group members use.
Confused by backpacker tax, TFNs and super? Read our working holiday tax guide for Australia.