We’d like to introduce you to the Commonwealth Bank of Australia. They’re known to Aussies as CommBank.
Meet the bank more new arrivals choose.
CommBank is Australia’s largest bank. They’ve been helping Australian dreams come true since 1911, and support more people moving to Australia than any other bank.
Editors Note: My husband and I are both with Commonwealth and we love them! Coming form NZ we expect a high level of customer service and Commonwealth has exceed both of our expectations!
I waited until I arrived in Australia to open my account, while my husband opened his online before we left (https://www.commbank.com.au/personal/)… Bummer!
I didn’t have the paperwork they needed and ended up leaving the bank and opening the account online like my husband did. While he left the bank with his eftpos card and started living right away.
If you go directly into an Australian bank and ask them to set you up an account, you will need a rental agreement (or similar) before you can withdraw your money. See Ren’s comment below. If you setup an account before you leave, all you need is your passport. Learn from our mistakes!
With a variety of products and services, you can get your banking sorted in no time. Find helpful hints and tips about moving to Australia by visiting their Moving to Australia webpage:
Tips and guidance about moving to Australia are available on CommBank’s website.
Make your move to Australia smoother.
To make your transition to a new life and job easier, CommBank has made a short Welcome to Australia video that explains how to get started with your banking when you arrive.
You can also watch it here: https://youtu.be/2il-xb4WflE
Want to know more? CommBank has put together a fantastic resource about banking in Australia that will answer all your questions including:
Simply click on either of the below frequently asked questions (FAQs) documents:
|Frequently asked questions.||Frequently asked questions for students.|
CommBank is excited to welcome you to Australia.
Things you should know: Commonwealth Bank of Australia ABN 48 123 123 124 is a company incorporated in Australia with limited liability and subject to Australian regulation.
Commonwealth Bank has been helping customers move their finances to Australia since 1949. Our dedicated International Premier and Retail Banking team are only a phone call or email away.
Moving to Australia is more than a change of address. It’s a brand-new lifestyle to navigate. But first, there’s the admin. Commonwealth Bank can quickly organise your bank account today. So there’s one less thing to worry about when you arrive (apply two weeks before you leave for Australia).
As Australia’s leading provider of integrated financial services, Commonwealth Bank combines strength and security with the backing of specialist teams, services and an extensive range of flexible and competitively priced products.
You are going to need a bank account, so learn from my mistake and open an account before you go. Open an Australian bank account in less than 4 mins. Save time, money and stress! Pick up your eftpos card when you arrive and start living.
Visit the CommBank branch mentioned in your Welcome Letter to confirm your identification and CommBank will activate your account.
If you need help finding the branch, visit commbank.com.au/locateus and type in the name of the branch to get a map showing its location.
You’ll need to bring the following documents with you for the identification process:
Those who apply online within seven days before arriving in Australia won’t receive their debit card in the branch. Instead, CommBank asks you to confirm the address you’d like your card to be sent to, after you’ve been appropriately identified in the branch.
Once CommBank has confirmed your identity you can withdraw money from the account and will have access to all of their digital features like NetBank and the CommBank app.
Commonwealth used to allow you to transfer money into your new account before you arrived in Australia, ready to use when you collected your eftpos card. Unfortunately because of Australia’s anti-money laundering laws, they are no longer able to accept funds before you arrive in Australia. So to get around this, you should do the following:
Please note, if you do this early enough in the day, you will receive the funds the same day. Worst case the following day. You do not need to transfer all your funds into Australian dollars at once, you can transfer a small amount for initial use and then watch the exchange rate and transfer the bulk of your money when there is a favourable exchange rate, or you can set up rate alerts with XE and you’ll get notified when your desired rate is triggered.
I have got a few enquiries about this recently. The Australian banks are no longer able to offer the joint account option online anymore. You will need to open two individual accounts and request a joint account at a CommBank Branch when you activate your account and collect your eftpos card.
If you and your partner are arriving in Australia at different times, you will need to wait to open the joint Australian bank account until you are both in Australia.
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If you’ve read the above content and the answer to your question isn’t there, please write a comment below and I’ll research the answer for you. Please note, if the answer to your question is in the content above, I will not reply. Sorry, I just get too many questions these days and I can’t keep up.