I'm heading over on a skilled VISA end of June; do I need to set up a Australian bank account? If so what are the processed required in doing so? Tax File number required? Best Bank? I will need to cary out international transfers on a monthly basis, to send money back to UK.

Thanks.

 

Banks

Hi,
I dont know which is the best bank. I'm still in UK, will be over in May, and have just opened an account with Westpac. You can do it online was straight forward, didnt need a tax file number. I haven't done any transfers yet, so cant comment on thet part.

 

I personally set an account up with ANZ before we left the uk. They have been great and i cant fault them.
Other popular choices with migrants are Westpac and Commenwealth.

You can't do your tax file number until you are in the country, do it shortly after arrival and then notify the bank of it.
Hope this helps
Cal x

 

I used West Pac. It took over 2 weeks for them to give us a cash card and even then it wasn't a debit card. We had to wait another 2 weeks for that. You can open the account in the UK then activate with your passport when you get here. We used HIFX for money transfers but you will need your bank account first. Keep a UK credit card open when you come as you can use that for car hire etc while waiting for the bank to get their cards to you. As for your Tax File Number thats easy as you can do that online when you get out here and only takes minutes to complete.

 

we plan to move in May/June, just opened the account through HSBC, we are getting all our cards ( including credit cards) before we leave. you can transfer funds online between UK/AUS, excellent service, can view both accounts on the same screen - global view.

 

I use bankwest! No charges at all for anything

 

I would suggest Commonwealth Bank. You can set us an account before you leave. We moved here and used HSBC (thinking it would be easy having had an HSBC UK account) but then found we were stuck as they have very few branches ( I think they are mainly based in Sydney). They also gave us bad service. Also you get charges to use other banks ATMs

 

We also use Westpac - we have for 6 years now and have been happy with them. Once you get your TFN you can give it to them - something to do with not paying tax on savings if you do not need to or something, but there's no hurry.

Fred