It also takes a lot of organising. But there are some things you can do, like getting a bank account, before you arrive.
Get a bank account before you leave
You don’t have to wait until you’ve landed in Australia to get a bank account. Some banks, including us, allow you to open an account up to three months before you arrive.
It’s one less thing for you to think about as you prepare to move here. And means you can transfer money across so it’s waiting for you when you arrive.
Our best account for student banking
You can open an Everyday Account with Student Options online in under ten minutes and get your bank details straight away.
This means you can:
- Transfer money, immediately, into your new account
- Check your balance online
- Access other student discounts on your banking.
There are no monthly account fees1 while you're a student, so you don't have to worry about losing money by setting it up in advance. But access to your account is limited i.e. you won't be able to withdraw money or transfer money from this account to any others, until we've checked your ID at a branch.
Note: If you have tax residency outside Australia, you'll also need to provide your Tax Identification Number (TIN) for each country of foreign tax residency. Here's more about TIN.
Transferring money tip: Keep an eye on the exchange rate before you transfer money across. Getting a strong exchange rate can mean you get more for your money.
Banking with CommBank: If you want to get in touch with us before you arrive, call our International Premier and Retail Banking team who can help you.
When you arrive in Australia
Once you get to Australia, you'll need to visit the CommBank branch listed in your welcome letter to finish setting up your account. This is an important step because we need to check your ID before you can withdraw money.
You'll need to take these things (ID) with you:
- A copy of your welcome letter
- Your passport
- Your student ID or proof of enrolment
- Australian mobile number if you have one.
Once we've checked these, we'll order your Debit MasterCard. You can download the CommBank app and get cash out immediately using Cardless Cash.
Exchanging currency tip: You can also exchange currency while you're at the branch too.
Handy student checklist
Look at this month-by-month checklist to make sure you've got everything you need before you move to Australia.
It includes information on:
- Working here
- Health insurance
- Travel insurance
- Australian Tax Laws
- Documents you'll need.