Banking

Q:  How can I open a bank account?

A:  Australia has a modern and efficient banking system, which is accessible and easy to use. Students are given assistance with their banking needs on arrival and throughout the trimester. It is advisable to set up a bank account during the first days of arrival and discuss with the bank ways to send money to and from Australia. Information on opening a bank account is provided for new students during the Post Arrival Program, when ISS-Connect volunteers can assist, and during the International Registration and Enrolment Program. Please see an International Student Adviser (ISA) on your campus if you need assistance to open a bank account.

To open an account you need your eCOE, Passport, Letter of Offer or other forms of identification. You will also need to provide a Tax File Number (TFN) to the bank.

Q:  How can my family send money to my bank account in Australia?

A: The usual way of sending money from overseas is by an electronic transfer to your bank account, which may take 1-2 days (please note, at times international money transfers can take up to 10 working days). If you are getting money from overseas via an electronic transfer, you might want to check with your bank overseas to determine which bank in Victoria they have an agreement with.

You may also arrange to have money sent from overseas by bank draft in Australian dollars, which can take five working days plus mail transfers.