How to Open a Bank Account in Australia as a Foreigner (2026)

Australia is one of the few countries where you can open a bank account before arriving. All major Australian banks have programs specifically for migrants, working holiday makers, and international students. This 2026 guide covers what you need and the optimal sequence.

Required documents

1. Passport
2. Australian visa (Working Holiday, Student, Skilled, Temporary or Permanent)
3. Australian address (or hostel/Airbnb if recent arrival)
4. TFN (Tax File Number) — strongly preferred, can be applied for after account opening
5. Initial deposit of AUD 0–100

Step 1: Pre-arrival account opening

The Big Four Australian banks all support opening accounts before arrival. This is the easiest and recommended approach:

• Open online from your home country up to 3 months before arrival
• Provide passport details and home country address
• Funds can be deposited but not accessed until you arrive and verify ID at a branch
• Identity verification at a branch typically takes 30 minutes

This means you can land in Sydney/Melbourne with cash already in your account.

Step 2: Choose the right bank

CommBank (Commonwealth Bank)

Largest Australian bank, comprehensive newcomer programs.

• Pre-arrival opening: Yes
• NetBank: Excellent app
• Branches: Most extensive network
• Best for: All-around expat option

ANZ

Major Australian bank with Migrant Banking Package.

• Pre-arrival opening: Yes
• Migrant package: Fee waivers, free transfers

Westpac

Big Four member, popular with international students.

• Pre-arrival opening: Yes (Choice account)
• Student-friendly: Yes

NAB (National Australia Bank)

Big Four member.

• Pre-arrival opening: Yes

ING Australia

Online-only, no monthly fees, popular with expats.

• Setup: Once in Australia
• Monthly fee: Free

Up Bank

Mobile-first, owned by Bendigo Bank. Free, foreigner-friendly with proper visa.

Wise

Real AUD account capabilities. Useful for receiving foreign salary.

Step 3: Apply for TFN

Apply online via the ATO website once you have a working visa. Free, takes 28 days for delivery by mail.

Without a TFN, your interest is taxed at the highest rate (45–47%). Apply immediately after arrival.

Common mistakes

Skipping pre-arrival opening

The Big Four all offer this — it saves a week of friction once you arrive.

Not applying for TFN immediately

Banks default to highest tax rate without TFN. Apply as soon as you have your work visa.

Choosing the wrong account type

Some “Everyday” accounts have monthly fees with conditions. Compare and pick a fee-free option for your usage pattern.

Forgetting OSAP / OSHC for students

International students need Overseas Student Health Cover. Not banking, but bundled with student banking packages at some banks.

Costs to expect

Item	Typical Cost
Account opening	Free
Monthly maintenance	Free with conditions or AUD 4–10/month
Debit card	Free
Domestic transfer (PayID/OSKO)	Free
International wire	AUD 15–35
ATM withdrawal (own bank)	Free
ATM withdrawal (other)	AUD 2–3

Frequently asked questions

What is PayID/OSKO?

Australia’s instant payment system. Free, real-time. Linked to phone number, email, or ABN.

Can I open without a visa?

You generally need a visa or visa-pending status. Tourists on ETA can sometimes open with limitations.

How long does it take?

Pre-arrival: 30 minutes online + 30 minutes branch verification on arrival. In-Australia: 30 minutes same-day.

Can I get a credit card as a newcomer?

Yes — all Big Four offer credit cards with low limits to newcomers. Higher limits come with payslip history.

What about superannuation?

Super is mandatory for all workers, including foreigners on most visas. Your employer pays into a super fund of your choice. Not the same as a bank account — it is retirement-only.

Next steps

1. Apply for an account online with CommBank, ANZ, or Westpac before flying.
2. Set up Wise for international transfers.
3. Verify ID at a branch within your first week.
4. Apply for TFN immediately after arrival.
5. Activate PayID for instant transfers.

For more on Australia, see our Australia country guide, Moving to Australia, and the bank account guide.