Money - Accounts

Opening Bank Accounts

Financial institutions offer different kinds of accounts to you, for example there are basic savings accounts that earn you interest to transaction accounts with keycards for Automatic Teller Machine (ATM) access.

Every financial institute or bank offer slightly different types of accounts which incur fees associated to these accounts. The banks charge you fees, which are deducted monthly from your account. It is a good idea to compare banks and their charges before you decide to commit to one. Find the best deal that suits your needs, you can contact the bank via the internet, phone or in person.

Opening an Account

When opening a new account the bank will require certain details from you including your name, address & occupation.  If this is your first account with your chosen bank then you will need to prove your identity. You can do this by providing certain documents or by providing a reference from an acceptable referee.

When submitting documents to prove your identity you must supply as follows:-

1. Personalized letter from Centrelink   OR
2. Acceptable Reference  (see below for list of acceptable referees)   OR
3. Passport, plus:   

            a)  Australian Drivers Licence/Permit
            b)  Student Identification Card issued by your University or Tafe
            c)  Pension Card or Health Care card issued by Centrelink
            d) Current Credit Card or ATM acces card from any Other bank
            e) Store Card, Medicare Card, Keypass photo ID card, passbook from any other bank containing a ‘black light’ signature

  
 

How to Apply