Everyday Banking

There are so many ways to access banking services in Australia, either in branch or remotely through your phone, the internet and at ATMs. You should be aware that some services attract fees and these can vary from bank to bank.

For example if you have an account with one bank but access money through an ATM at another bank this will attract a fee.

Transaction accounts

You will need a bank account for your everyday spending and for any money you earn to be paid (most Australian businesses will pay you automatically by transferring your wages into your account). It’s a good idea to ensure the account comes with a debit card. For example an ANZ Visa Debit card will not only allow you to access your money by withdrawing cash, you can also use your own money to shop online or overseas, indeed wherever Visa is accepted.

The advantage is you are using your own money as opposed to a credit card but still enjoying the access credit cards provide. Find out more and open you account before you arrive in Australia with our partner ANZ.

However, transaction accounts normally offer little or no interest on your money. So it’s wise to keep enough money for your everyday living in your transaction account and have a savings account as well.

Savings accounts

Savings accounts pay interest on your deposits. There are accounts that will even pay bonus interest depending on how you use them. It’s a good idea to have your savings account at the same bank as your transaction account, that way the two can be linked allowing you to transfer funds between your accounts online without delay.

Our partner ANZ offers transaction accounts and a range of different savings accounts find out more.