Pros and Cons
- Linked Visa debit card
- App banking available
- You must deposit at least $2000 into your account each month for no monthly account fees
- $5 Overseas ATM Withdrawal Fee
- 3% fees apply for overseas transactions
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Once you’ve compared bank accounts and found the right one, the process of opening a bank account online is quite simple and can be done in around 10 minutes.
To set up a bank account online, you’ll need to prove your identity and provide an approved form of ID as well as your tax file number (TFN).
If you’re a new customer of the bank, you’ll need to verify your identity and potentially upload documents before you can complete your online application.
Once your ID has been verified and you’ve set up your bank account online, you should receive your bank cards in the mail along with your PIN and any other account details.