How to open an Australian bank account as a backpacker
One of your first jobs after landing is opening an Australian bank account. You'll need it to get paid, and setting it up early is genuinely one of the easiest wins of your first week. Here's how it works.
Why you need one
To work in Australia, you need somewhere for your wages to land. Employers pay into an Australian bank account, and you'll also want a local account for everyday spending, rent, and avoiding the foreign-transaction fees that add up fast on an overseas card.
Most travellers open two accounts:
- An everyday account (also called a transaction account) for daily spending and receiving your pay.
- A savings account to keep money aside — useful for rent bonds, your specified-work fund, or just not spending it all.
When to open it
Open your account soon after you arrive. In many cases you can start the process online before you land or in your first days, then finish verifying your identity in person at a branch.
There's a well-known tip worth knowing: in the first weeks after arriving, opening an account is often simpler — typically your passport is enough. Leave it longer and some banks may ask for more forms of identification. So don't put it off.
What you'll usually need
Requirements vary by bank, but you'll generally want:
- Your passport
- Your Australian address (a hostel address is usually fine for the card to be posted to)
- An Australian mobile number
- Sometimes your visa details or Tax File Number
You don't always need a TFN to open the account, but you'll want to add it once you have it, so your interest is taxed correctly.
The main banks
Australia's largest banks all offer everyday and savings accounts and are used to setting up accounts for new arrivals. The common names you'll come across are Commonwealth Bank, Westpac, NAB, ANZ, ING, and St.George. Each has slightly different fees, app features, and branch coverage, so it's worth a quick compare before you pick.
A few things to look at when choosing:
- Monthly account fees (many everyday accounts waive them)
- ATM access and fees
- How good the mobile app is — you'll live in it
- Whether you can start the application online before you arrive
A quick tip on fees and statements
International students and travellers sometimes get caught out by small account fees. Ask about fee-free everyday accounts, and set your statements to digital so you're not paying for paper you'll never read.
Once it's open
When your account is live, you'll get a debit card (posted to your address) and access to the bank's app. From there you can give your employer your account details to get paid, set up your savings account, and start managing your money like a local.
Setting up your bank account, getting your Tax File Number, and sorting your phone are the three admin tasks that unlock everything else in your first month — knock them out early and the rest of your arrival gets a lot smoother.