When you land in Australia for study, perhaps the first thing you need to sort out is opening a bank account and getting a debit or credit card. Choosing a bank for opening an account is important and it is fundamental for a student to find the most appropriate bank that suits your requirements as a student. And you need to carefully scrutinize any advice or recommendations, as not all banks are equally friendly to international students. Before choosing a bank in Australia, you should consider the following
– Is the bank available in major cities?
– Is the bank network good in major cities?
– Does bank charge maintenance fee?
– Does the bank make student card available?
– Is there any bank associated fee?
– What kind of quality does the bank offer? Good or Bad
– Generally, is the bank easy to use?
– Which technology helps the bank service?
– What are the experience students have with the bank?
After considering various aspects mentioned above and from various research and findings, below are the best banks that students could choose from. These banks are the best for student banking service.
The first bank on the list is Commonwealth Bank of Australia as they have fulfilled essentially every necessity we have talked on above. The reason for this is that they offer students free account with all the necessary facilities you expect in this day and age of current banking. Another reason why this bank is so popular among international students in Australia is their availability of lots of branches and ATMs. Moreover, they have the best banking mobile application and internet banking site. They likewise offer student convenient merchandise insurance and student credit cards. All these features mean that Combank is certainly a bank to put into consideration when you get to Australia as a student.
Nab bank is another good option recommended for you to consider to open a student bank account. Nab bank has given banking solutions that would help students. They offer good solutions for students featuring limitless banking without any monthly management fees. They also have the facility of setting up your bank accounts before you arrive in Australia, especially for international students. Nab bank is recommended for their service experience and innovative banking features like extended hours banking etc.
Another common bank among students in Australia is the ANZ bank. ANZ is one of the oldest and highly reputed banks in Australia; ANZ bank offers good services to students which really help. They offer free student account without any management fee whatsoever. Furthermore, ANZ offers preferred solutions for international students. The bank also offers all the modern internet and smartphone app for banking for easy use on customer’s path.
Westpac bank is another Australian bank you need to put into consideration when opening a student banking account. Westpac bank offers an easy banking option for students in Australia.
This bank transactions account comes with a Debit MasterCard, mobile banking options, online banking option and online bank statement for banking conveniences. When it comes to banking offers, Westpac has no monthly service fees, it has no transaction fees, over 3000 ATMs in Australia, frequent payment options, and an easy to use mobile banking app.
However, unlike the NAB banking option, Westpac offers a unified student-to-graduate bank transfer. Furthermore, the Westpac account is for transactions and it as a result does not having any saving options.
Macquarie bank is also one of the best banks in Australia. It has exciting features which can help students throughout their stay in Australia. Here are some of the services Macquarie bank gives students:
They make payments easy with android pay and apple pay. Also, they provide up to 2.30%pa on balances above $25,000 in Macquarie Transaction Account. Macquarie bank makes available free access to any rediATM and also allows students to enjoy a refund on fees incurred at all other ATMs in Australia. Macquarie bank has no monthly account fee and zero International purchase fees when you shop overseas or online with the Macquarie Debit MasterCard.
It is not easy to singl out one best bank among these as Australian banks have good reputation. Combank is probably the best for international student as there are a lot of branches and ATMs, and services are also good. This is what many international students recommend. If this doesn’t work for you, then you have equally good options as listed above.
Note: The information above is based on website review and may not be fully up to date. You are advised to contact the banks for latest service packages.