What you need before you walk into a bank

Australian banks require two forms of identification before they will open an account for you. One must be a photo ID — a driver's license, passport, or proof of age card issued by your state. The second can be a different photo ID, or a document that proves your address, such as a recent utility bill, lease agreement, or council rates notice.

You will also need to provide your Tax File Number (TFN), which is a nine-digit number issued by the Australian Taxation Office. If you do not have one yet, you can request it before opening the account, though some banks will let you complete the account opening and provide it within a set timeframe afterward. You will need your full legal name, date of birth, and contact details — phone number and email address.

If you are not an Australian citizen or permanent resident, you will need a visa or other proof of your right to be in Australia. Some banks have different requirements for temporary residents, so it is worth calling ahead to confirm what documents they need from you specifically.

Key Takeaways

  • Bring a photo ID plus one other form of identification that shows your address, such as a utility bill or lease.
  • You will need your Tax File Number, though some banks allow you to provide it after opening the account if you do not have it yet.
  • The major banks (Commonwealth, Westpac, ANZ, NAB) and smaller banks like ING and Macquarie have different account types and fees, so compare before you choose.
  • Opening an account takes between 15 minutes and one hour in branch, or you can complete the process online with some banks if you have a valid Australian photo ID.
  • Once your account is open, you can request a debit card, set up direct deposits, and link the account to your phone for mobile banking.

The difference between the major banks and smaller alternatives

Australia's four major banks are Commonwealth Bank, Westpac, ANZ, and NAB. They have branches in most suburbs and towns, and their customer service lines are widely known. However, they typically charge monthly account fees ranging from nothing to around $4 per month, depending on the account type and whether you meet certain conditions like regular deposits or a minimum balance.

Smaller banks and online-only banks like ING, Macquarie, and Up often charge no monthly fees and offer higher interest rates on savings accounts. The trade-off is that they have fewer physical branches, so you may need to use ATMs from other networks or conduct most banking online. Some online banks reimburse ATM fees charged by other banks, which can offset the lack of their own branches.

Credit unions and mutual banks are another option. They are member-owned rather than shareholder-owned, and some offer lower fees or better rates on savings. However, they typically operate in specific regions, so availability depends on where you live.

How to open an account in a branch

Walk into any branch of the bank you have chosen with your identification documents and TFN. Tell the staff member you want to open a new account. They will ask you what type of account you need — most people start with a transaction account (also called a cheque account), which lets you deposit money, withdraw it, and pay bills. Some banks also offer savings accounts with higher interest rates but restrictions on how often you can withdraw.

The staff member will take photocopies of your ID and address proof, record your personal details, and ask you questions about your employment, income, and the purpose of the account. These questions are part of anti-money-laundering checks that all banks must do. Answer honestly; the bank is not judging your income level, only confirming that the account is for legitimate use.

You will be asked to sign documents confirming you have read the bank's terms and conditions. Read these carefully or ask the staff member to explain anything you do not understand. Once you sign, the account is usually open immediately, though it may take a few hours for the system to fully activate. You can request a debit card at this time; it will arrive by post within 5 to 10 business days.

Opening an account online

Several banks allow you to open an account entirely online if you have a valid Australian photo ID and a smartphone or computer with a camera. Commonwealth Bank, Westpac, and some smaller banks offer this option. You will upload photos of your ID, answer security questions, and provide your personal details through their app or website.

Some banks use facial recognition technology to verify your identity during the online process. Others may ask you to visit a branch or use a video call with a staff member to confirm who you are. The process typically takes 10 to 20 minutes, and your account can be active within hours or by the next business day.

Online account opening is faster than visiting a branch, but it only works if you have the right form of ID. If your ID is expired, from overseas, or not in a format the bank's system recognizes, you will need to go to a branch instead.

What happens after your account opens

Once your account is active, you will receive a debit card by post. This card lets you withdraw money from ATMs and pay for purchases at shops and online. Your bank will also give you online banking access — a username and password, or a login through your phone number and a PIN. Use online banking to check your balance, transfer money to other accounts, set up automatic bill payments, and download statements.

If your employer or another organization needs to pay money into your account, ask your bank for your account number and BSB (Bank State Branch) code. These two pieces of information are all they need to send you money via direct deposit. Direct deposits usually arrive within one to two business days.

Many banks now offer mobile banking apps that let you check your balance, transfer money, and even deposit cheques by taking a photo. Set this up as soon as you can access it — it makes managing your money much easier than visiting a branch or using a computer.

Fees and charges to watch for

Monthly account fees vary widely. Some banks charge nothing if you meet conditions like depositing at least $2,000 per month or maintaining a minimum balance. Others charge a flat fee regardless. Compare the fees of at least three banks before you decide, because over a year the difference can be significant.

Beyond monthly fees, watch for charges on individual transactions. Most banks charge a fee if you overdraw your account (spend more than you have), if you transfer money overseas, or if you ask for a replacement card. ATM fees are usually free at your own bank's machines but may cost $2 to $3 at other banks, unless your bank reimburses them.

Interest rates on savings accounts also vary. A major bank might offer 0.01% annual interest on a savings account, while an online bank might offer 4% or higher. If you plan to save money in your account, this difference matters — over time, a higher rate means your money grows faster without you doing anything.

If you do not have an Australian address yet

Some banks will open an account for you using a temporary address, such as a hostel, hotel, or the address of a friend or family member you are staying with. You will need to update your address once you have a permanent one. Other banks require a permanent Australian address before they will open an account.

If you are moving to Australia and do not yet have an address, contact the bank you plan to use and ask what they need. Some will let you complete the process online once you arrive and have a phone number and temporary address. Others may ask you to visit a branch in person.

If you are a temporary resident or international student, some banks have specific accounts designed for you. These may have different requirements or features. Ask about these when you call or visit, because they may be simpler to open than a standard account.

Frequently Asked Questions

Can I open a bank account if I am not an Australian citizen?

Yes, but you will need to prove your right to be in Australia. A valid visa, work permit, or student visa is usually enough. Some banks have specific accounts for temporary residents with slightly different requirements. Call the bank before you visit to confirm what documents you need to bring.

What if I do not have a Tax File Number yet?

Most banks will let you open an account and provide your TFN within 28 days. You can request a TFN from the Australian Taxation Office online or by phone. However, some banks may delay certain services, like setting up direct deposits, until they have your TFN on file.

How long does it take to open an account?

In a branch, it usually takes 15 minutes to one hour, depending on how busy the bank is and how many questions they need to ask. Online, it can take as little as 10 to 20 minutes, and your account may be active within hours. Your debit card will arrive by post within 5 to 10 business days after opening.

Can I open more than one account at the same bank?

Yes. Many people open a transaction account for everyday spending and a separate savings account to earn interest. You can open both at the same time or add a second account later. Each account will have its own account number and debit card if you request one.

What should I do if I lose my debit card?

Call your bank immediately — most have a 24-hour phone line for this. Your bank will cancel the card and send you a replacement within 5 to 10 business days. In the meantime, you can still access your money through online banking or by visiting a branch to withdraw cash.