Starting a bank account in Australia
Starting a bank account in Australia is really very simple. Just take in your passport into the bank and they will happily start the process for you. Do this within the first 6 weeks of your arrival. For some reason this is the rule of the bank and it makes the process, so much less complicated.
It is highly recommended that you chose one of the following 4 banks. ANZ Bank, National Bank, Westpac bank or the Commonwealth bank. These are the 4 biggest banks in Australia and it is always easy to find an ATM machine to withdraw money in any town in Australia when with one of this 4 banks.
Starting a bank account is free and cost $5 a month but that includes unlimited withdrawals, but you must use your banks ATM machine. Withdrawing from another banks ATM machine cost $3 a withdrawal.
One of the biggest tips when backpacking in Australia is to try to limit the amount of times you withdraw money from your home country from an ATM machine in Australia. They charge between $5- $10 dollars ever time you withdraw money from your bank in your home country. It is better to withdraw all your money from your home bank and place it in your Australian account to eliminate all bank fees. You are only able to withdraw $Aus1000 at a time from ATM machines in Australia.