How to Open a Bank Account in Australia as a Non-Resident
How to Open a Bank Account in Australia as a Non-Resident
Moving to Australia, even for a short period, often means setting up local essentials quickly. A local bank account can make day-to-day life easier, whether you’re getting paid, paying rent, or managing everyday expenses without relying on international cards and fees.
Non-residents and temporary visa holders can usually open a bank account in Australia. The key is understanding what documents are required, how identity checks work, and what fees or conditions may apply. Preparing ahead can help reduce delays and confusion once you arrive.
In this guide, you’ll learn how opening a bank account in Australia works for non-residents, what to prepare before applying, common fees to watch, and how to choose a bank that fits your situation.
Can foreigners open a bank account in Australia?
Yes. Most major Australian banks allow non-residents and temporary visa holders to open an account, provided they meet identity and verification requirements¹. Australian banks are required to follow strict “Know Your Customer” and anti-money laundering rules, which means confirming your identity is a mandatory part of the process².
Some banks allow you to start an application online and, in certain cases, before you arrive in Australia. However, many still require an in-person identity check after arrival³. Requirements can vary by bank and account type.
Why you need an Australian bank account
Having an Australian bank account can make settling in simpler, particularly if you’re working or renting. Common reasons include:
- Receiving salary payments from an Australian employer
- Paying rent and utilities using local transfers
- Setting up direct debits for bills and subscriptions
- Using an Australian debit card for everyday spending
- Establishing local banking history, which may be helpful later
If you’re also planning work or finances, you may find these helpful:
Types of bank accounts available
Everyday transaction accounts
These are used for daily spending, bills, and salary payments. They usually include a debit card and online banking access.
Savings accounts
Designed for holding money separately from daily spending. Some offer interest, often with conditions that need to be met.
Student accounts
Some banks offer student-focused accounts, often with lower fees. Eligibility and features vary, and proof of enrolment may be required.
Documents to open a bank account in Australia
While requirements differ by bank, most non-residents should expect to provide:
- Passport as primary identification
- Visa details or proof of visa status
- An Australian address (temporary accommodation may be accepted initially)
- An Australian mobile number for verification
- Tax residency information and, once available, a Tax File Number⁴
Tip: Bring original documents, not just digital copies. Even if you apply online, banks may ask to sight originals during verification.
Major Australian banks that accept non-residents
Rather than choosing the “best” bank, it’s usually more practical to compare banks based on fees, verification steps, branch access, and whether you can start the process before arriving.
Commonwealth Bank (CommBank)
Some “new arrivals” pathways allow you to start opening an account before arrival, with identity checks completed later¹. Always confirm current requirements directly with the bank.
Westpac
Westpac provides guidance for people moving to Australia, including how to manage everyday banking once you arrive³.
NAB
NAB promotes certain transaction accounts with no monthly account fees on specific products, which may suit people aiming to keep setup costs lower⁵.
ANZ
ANZ offers everyday banking products and information for new arrivals. Requirements and fees vary depending on the account and your circumstances.
Important: Bank products, fees, and onboarding steps change. Always check the bank’s official website before applying.
Alternative options
Some people use fintech or multi-currency services to manage international transfers when first arriving. These can help move money initially but may not replace a full Australian bank account for salary payments, renting, or setting up direct debits long-term.
How to open a bank account in Australia: step-by-step
Step 1: Choose the right account type
Most non-residents start with a transaction account. Compare fees, ATM access, international features, and identity verification methods.
Step 2: Prepare your documents
Have your passport, visa details, address, and contact information ready. If you’re starting work, an employment contract can also help.
Step 3: Apply online or in branch
Many banks accept online applications, but some require a branch visit to complete verification².
Step 4: Complete identity verification
This step often takes the longest. Bring original documents and allow extra time if visiting a branch.
Step 5: Activate your account
Once approved:
- Set up online banking
- Activate your debit card
- Add payees for rent or utilities
- Arrange salary payments with your employer
Usual bank fees in Australia
Fees vary by bank and product, but may include:
- Monthly account fees (sometimes waived)
- ATM fees, especially at non-bank ATMs
- International transaction and currency conversion fees
- Dishonour or overdraw fees
- Replacement card fees
Review the bank’s fee schedule carefully before committing.
Tips for opening a bank account smoothly as a non-resident
- Apply soon after arrival or start online if available
- Use an address you can reliably access
- Get an Australian SIM card early
- Ensure your name is consistent across all documents
- Avoid multiple applications at once
- Expect additional checks if your visa is short-term or near expiry
Need financial support once you’re settled? Meet Credit24
After setting up essentials like banking, work, and accommodation, some people look for financial flexibility to manage setup or unexpected costs.
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Repayments may be made using common Australian payment methods, including OSKO, depending on your bank.
This information is general only and does not consider your personal financial situation. Credit is subject to eligibility criteria, fees, and terms and conditions.
FAQ
Can a tourist open a bank account in Australia?
Sometimes, but it can be more difficult. Many banks prefer customers with an ongoing connection to Australia, such as a longer-stay visa, local address, and phone number.
Do I need to be in Australia to open an account?
Often yes². Even if you start online, you may still need to complete identity verification in person.
What do I need to open a bank account in Australia?
Usually a passport, visa status, Australian address, and local phone number². You may also be asked for tax residency details and a TFN once available⁴.
How long does it take to open an account?
The application itself can be quick if documents are ready. Timing depends on how identity verification is completed².
Sources
- New arrivals banking guidance — Commonwealth Bank
https://www.commbank.com.au/ - Customer identification obligations — AUSTRAC
https://www.austrac.gov.au/ - Moving to Australia banking guide — Westpac
https://www.westpac.com.au/ - Tax File Number information — Australian Taxation Office
https://www.ato.gov.au/ - Transaction account information — NAB
https://www.nab.com.au/
Disclaimer
IPF Digital Australia Pty Ltd, trading as Credit24, ABN 59 130 894 405. Australian Credit Licence 422839.
The information in this article is general in nature and does not consider your objectives, financial situation, or needs. Lending criteria, fees, and charges apply. For product details, eligibility requirements, and full terms and conditions, visit www.credit24.com.au.
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