You just moved to Australia and you have a list of things you need to do. Getting a bank account should be your top priority. Choosing the right bank account can often be a challenge as there are over ten banks in Australia offering various incentives. When I’d moved to Australia five years ago as a student, I wish someone had told me banks offer monthly fees between $3-$5. You can save about $36-$60 a year and that money can be well spent of coffee, food or buying that expensive textbook for your uni!
As a student, you have access to a wide range of benefits and perks when it comes to having a bank account. Usually, you'll receive exclusive discounts on a ranking of banking products and it's available for full-time and part-time tertiary students who are studying at an Australian educational institution
NO MONTHLY FEES
One of the biggest benefits of being a student is you do not have to pay any monthly fees (depending on the type of bank you sign up with. See below)
ACCESS TO DEALS AND DISCOUNTS
Most banks will sometimes offer discounts off retails products or banking products. For example, the more you spend, you can earn points to save money on grocery shopping and travel.
ACCESS TO DEBIT CARD AND CREDIT CARDS
The perks of having a debit card linked to your student account will make spending really easy for you. Banks will also sometimes offer you a credit card with special interest rates just for students.
EASY BANKING 24/7
Banks in Australia will have a mobile app to help you transfer money, check balance, apply for debit/credit cards from your smartphone.
There are two ways in applying for a bank account.
Visiting the bank and speaking to an agent
Here are the list of banks in Australia you can sign up with and not get charged any fees. Whether you are visiting a bank in person or applying online, make sure you sign up to these accounts. Enjoy!