Overseas visitors can open a bank account within 6 weeks of arrival into Australia simply by presenting your passport. If 6 weeks has elapsed you will need to provide identification which adds up to at least 100 points.
It all adds up...
- Birth certificate, passports - 70 points
- International Driver's licence - 40 points
- Credit cards, student cards, id cards - 20 points
If you don't hold an Australian Tax File any interest earned on your account will be taxed at 47%.
- Commonwealth Bank
- ANZ Bank
- Colonial State Bank
- Westpac Bank
- National Australia Bank
- St George Bank
There are 24-hour automatic teller machines (ATMs) at the majority of banking institutes, at convenience stores across most cities and towns in Australia. Most of the banks have reciprocal arrangements: Westpac, Commonwealth Bank, National Australia Bank and ANZ Bank ATMs generally accept each others cards - but charge you a small fee for the privilege. Most banks place a $1000 limit on the amount you can withdraw daily.
The Australian dollar fluctuates quite markedly against the US dollar - Check with the banks or licenced moneychangers for the daily rate.