Open your bank account in Australia before your arrival (Free)

  • Westpac, Australia’s 2nd biggest bank, allows you to open a bank account for free before your departure
  • Skip the hassle of administrative processes on your arrival and enjoy a smooth start in your Australian life!
  • Avoid money transfer fees and bank fees thanks to this bank account made for expat (Westpac has partnerships with European banks)
  • Start safely transferring money to your Australian bank account, while you are still in your home country
  • More than 3,000 ATM in Australia and a handy app.

For  Young professional

Opening a bank account is not that easy in an unfamiliar country, thought it is often a compulsory step in your expatriation, especially if you are intending to work there. Australiance Team has been expatriated to Australia for more than 9 years now and we are sharing some advice.

The most convenient solution tested by the Australiance Team is opening an online bank account before your departure. Indeed, this solution will save you time because you can transfer your financial resources on your Australian account before you leave, and its free for international people. We have chosen Westpac for our bank account in Australia.

Why?

  • Westpac is Australia’s 2nd bank, with more than 3,000 ATM across the country and 50,000 ATM available via their partners. You’ll be sure to find a Westpac ATM wherever you go!
  • Westpac is the only bank that offers a special bank account for foreigners that you can open for free before your departure and within less than 3 minutes!  It’s very easy and you have no fees during one year.
  • Westpac has a partnership with French bank BNP Paribas. It allows BNP customers to be free from bank charges when withdrawing at an ATM.*
  • Westpac’s mobile app is very convenient. You can check your savings and credit account at any time and make transfers in a couple of minutes!

*It is not the case for transfers, but you can still withdraw your money in an ATM and then go to the bank agency to make the money deposited into your Australian account.

Westpac offers you to open simultaneously:

  • The ‘Westpac Choice’, the credit account: If you are under 21,  a full-time student, or transferring more than 2,000 AU $ per month into your account, you are exempted from monthly bank fees. Otherwise, bank fees are AU$5 / month.
  • The “Westpac eSaver”, the savings account with an interest rate of 3.92% per year (+ 1.42% bonus for the first three months). Interest is paid monthly.

Do not forget to tick the “Westpac eSaver” box if you want to open a savings account as well as a current account (highly recommended).
The procedure is simple and takes only 5 minutes since it will ask you just the following information:

– Click on “Westpac Website”

– Click on “Get Started”:

– Title
– First Name
– Birthdate
– Type of VISA
– Telephone number
– E-mail
– Current address
– Arrival date
– Arrival point
– The nearest Westpac branch for you in Australia.
– Your type of job
– The amount of your annual salary (optional)
– How did you know Westpac
Once your online application has been confirmed, Westpac will send you an email confirming that your account has been opened and providing you with your IDs within 5 to 15 days. Administrative and confirmation documents will also be sent to you (home country address).
Once you’ve received your login details, you will be able to call Westpac’s hotline (+61) 2 9293 9270 to activate online access to your accounts. The activation is immediate.

You can transfer money to your account as soon as it is activated, or leave it empty (but be careful to turn $ 5 minimum before the end of the month).

You will not be able to withdraw money until you have finished your identification. For this, you must go in a Westpac agency with an identity document once you arrived in Australia, within a period of 90 days.

Once identified, you will be able to withdraw money at the counter and apply for a credit card. A MasterCard debit card will be sent to your Australian address within 15 days, or you can pick it up at the agency within 7 days.

It is unfortunately not possible to get your debit card before arriving in Australia and identifying yourself.
Caution :
– You can only open your bank account up to 1 year before your arrival in Australia (maximum time to complete your identification procedure in a Westpac agency once in Australia).
– You need a postal address in Australia. No worries, you can give a temporary address that you can then modify.

Good to know -tips to save money! :

  • Withdrawing money from another Westpac group’s bank or member of the International Alliance Global ATM will not cause any extra cost if you are travelling abroad with your Westpac card. The banks are St George and Bank of Melbourne.
  • For French citizens, to avoid extra bank fees due to international transfers, you simply need to withdraw money from a Westpac ATM with your BNP card and then make a deposit at the counter. Don’t forget to check your payment limit with your French bank before leaving.
  • For all European citizens, if you want to make an online transfer, your European bank will ask the IBAN of your Australian account. However, the IBAN is a European standard. Therefore, to make a transfer to your Australian account, you simply need the following numbers: BSB (Branch Number) + Account Number + SWIFT code. They will be provided by Westpac.

All our tips about money in Australia (some prices, information about money transfer) can be found here.

Click on “Westpac Website” to start opening your bank account with Australia’s 2nd bank! 

1. Click on “Westpac Website” to get to Westpac bank website (you’ll also find useful information on their website)

2. Click on Get Started

3. The process to open a bank account is very simple and only takes 5 minutes. You will have to fill in a form asking for:

– Gender

– First name

– Last name

– Date of birth

– Which Visa do you have

– Phone number

– E-mail

– Current address

– Date of arrival

– Place of arrival

– The closest Westpac agency for you in Australia

– The sector you work in

– How much is your annual wage (optional)

– How did you know Westpac

Once you have filled in the online form, Westpac will send you an email as a confirmation of the opening of your account and will give you all the identifiers within 5 to 15 days. Then, you will receive all the documents to your current address.

As soon as you get the identifiers you can call Westpac’s hotline (+61) 2 9293 9270 in order to active your account online. The activation is immediate.

 It’s free and it’s easy ! Enjoy your stay in Australia and don’t hesitate to contact Australiance Expat team in Australia to get more advice for your expatriation.

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