How to Open a Bank Account in Australia as a New Migrant

Opening Your First Australian Bank Account

Your first Australian bank account is a gateway to everything else: salary deposits, bill payments, rent, and everyday spending. The good news is the process is fast. Most banks open accounts same-day in-branch with just your passport and visa.

Why You Need an Australian Bank Account

1. Salary deposits. Australian employers require a local bank account for payroll. International transfers to a foreign account incur high fees.

2. Local payments. Australians use bank transfer, debit card, or mobile payment (PayID, Osko) for almost everything. Cash is rare outside Australia Day.

3. Bills and rent. Rent, utilities, and insurance are paid by direct debit or bank transfer. Landlords require an Australian account details on your lease.

4. Building credit history. Your first account starts your Australian credit file. This matters for future loans, mortgages, and rental applications.

The Big 4 Banks: Your Main Options

Australia's four largest banks — Commonwealth Bank (CBA), ANZ, Westpac and NAB — have the widest branch and ATM networks and the most established processes for new arrivals. Fees and pre-opening options below are as published on each bank's own site in September 2026 and can change — check the bank's current page before relying on them.

Commonwealth Bank of Australia (CBA)

• Account: Everyday Smart Access account.
• Fees: $0 monthly account fee if you're under 30; if you're 30 or over, the fee is waived for your first 12 months.
• Pre-opening: Yes — apply online up to 14 days before you arrive, or within 12 months of arriving. You still need to verify your identity with your original passport in a CBA branch within 20 days of applying.
• Website: commbank.com.au

ANZ Bank Australia

• Account: ANZ Plus Everyday account.
• Fees: No monthly account fees.
• Pre-opening: No — you join through the ANZ Plus app once you're in Australia, using your passport, an Australian mobile number and an address (a temporary address is accepted).
• Website: anz.com.au

Westpac

• Account: Westpac Choice account.
• Fees: The $5 monthly account-keeping fee is waived for your first 12 months.
• Pre-opening: Yes, if you'll arrive within the next 14 days (or you're already in Australia). Applicants from India, China or New Zealand can verify their identity online through Smart Verify; others verify in a branch after arrival.
• Website: westpac.com.au

National Australia Bank (NAB)

• Account: NAB Classic Banking account.
• Fees: $0 monthly account fee, no minimum deposit.
• Pre-opening: You can start an application online, but NAB says the account isn't opened until you arrive in Australia and finish the application in a branch.
• Website: nab.com.au

Step-by-Step: Opening an Account In-Branch

You'll need: passport, visa (valid printed copy or digital), and an Australian address (a temporary address is generally accepted).

1. Find your nearest branch. Use the bank's website or app to check its address and hours — opening hours vary by branch and bank, and many branches close earlier or aren't open at all on weekends.

2. Tell the teller you're a new migrant. Some banks have a specific process for new arrivals — mention it when you arrive.

3. Provide your identity documents. Hand over your passport and visa. They'll take copies.

4. Complete the account opening form. The teller will fill this out with you, confirming your address and contact details.

5. Choose your account type. Ask for a basic everyday or transaction account, not a savings or investment account.

6. Receive your debit card. Some branches issue a physical card on the spot; others give you a digital card to use immediately while the physical card is on its way.

7. Ask for a receipt. Keep proof of account opening — other applications, such as for a TFN or when renting, may ask for your account details.

Step-by-Step: Pre-Opening Online (Before Arrival)

Not every bank lets you open the account itself before you land. CBA and Westpac currently do, if you have a confirmed arrival date within their 14-day window. NAB lets you start an application online, but says the account itself only opens once you're in Australia and finish the process in a branch. ANZ's current everyday account, ANZ Plus, can only be joined once you're already in Australia.

1. Check the bank's own "new to Australia" or "moving to Australia" page for its current process and window before you rely on it — these change.

2. Choose a basic everyday or transaction account, not a savings or investment account.

3. Provide your passport details and an Australian contact address (a temporary address, such as short-term accommodation, is generally accepted).

4. Complete identity verification. Some banks verify certain nationalities online — for example, Westpac's Smart Verify covers applicants from India, China and New Zealand — while others verify in person after you arrive. Check which applies to you.

5. Once verified, arrange your debit card: some banks let you collect it in a branch, others post it to your Australian address.

Comparison: Pre-Opening vs In-Branch

Common Mistakes to Avoid

1. Not checking if your visa qualifies. Some temporary visas (like visitor visas) may not allow financial activities. Check your visa conditions or ask the bank.

2. Waiting to get your TFN. Open your account before applying for a TFN. Your employer will need the account details for payroll setup.

3. Opening an account at a small bank. Sticking with the Big 4 generally means more branches and ATMs, which can make everyday banking easier.

4. Not updating your address. If you move, tell your bank — it's used for mail, tax documents and security.

5. Ignoring the fee structure. The four banks price their everyday accounts differently: ANZ Plus and NAB Classic Banking have no ongoing monthly fee, CBA waives its fee for under-30s or for your first 12 months if you're 30 or over, and Westpac waives its $5 monthly fee for your first 12 months. Check what happens once any waiver ends.

After You Open Your Account

1. Set up online banking. Download the app and enable two-factor authentication (phone call, email, or authenticator).

2. Link a PayID. This is an optional alias (email or phone number) for fast transfers. Ask your bank how to set it up.

3. Notify your employer. Provide your account number and BSB (bank-state branch code) so they can set up salary deposits.

4. Check your balance and transactions. Log in within 24 hours to confirm your account is active.

5. Plan your international transfer. If you're moving money from overseas, use a service like Wise or OFX. Banks charge high fees for incoming international transfers.

Questions to Ask Your Bank

• "What are the ongoing fees after the new migrant period?"
• "How do I set up a PayID?"
• "Can I increase my overdraft limit?"
• "What's the daily withdrawal limit from ATMs?"
• "Do you offer fee-free international transfers?"

Next Steps

Once your account is open:

1. Apply for a TFN — you'll need your account details for some government applications. See the guide to getting a TFN for the process.
2. Set up superannuation with your employer.
3. Arrange a money transfer from overseas if you need additional funds.
4. Update your address on your lease and other documents to match your bank records.

Can I open an Australian bank account before I arrive?

It depends on the bank. CBA and Westpac currently let you open an everyday account online before you land, if you have a confirmed arrival date within their 14-day window. NAB lets you start an application online, but the account itself only opens once you visit a branch after arriving. ANZ's current everyday account, ANZ Plus, can only be joined once you're in Australia.

Do I need an Australian credit history to open an account?

No. The Big 4 banks open everyday accounts for new arrivals on your passport and visa — an existing Australian credit history isn't required.

Will I pay a monthly account fee?

It varies by bank. ANZ Plus and NAB Classic Banking currently have no ongoing monthly fee. CBA waives its fee if you're under 30, or for your first 12 months if you're 30 or over. Westpac waives its $5 monthly fee for your first 12 months.

What documents do I need to open an account?

At minimum, your passport and visa. Depending on the bank and how you apply, you may also need an Australian mobile number, an Australian address (a temporary address is generally accepted), and a foreign tax file number.

Can I open an account on a visitor visa?

Some temporary visas, including visitor visas, may not allow the financial activity that a bank account involves. Check your visa conditions, or ask the bank, before applying.