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Setting up a bank account in oz

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  • 21-03-2012 5:01pm
    #1
    xxxamyxxx
    Closed Accounts Posts: 11 ✭


    Hi guys
    So i have my tickets and hostel booked im heading the 1st of september!! i know im a bit early :) ust wonderin on how too go about setting up an australian bank account while in still in ireland!! i know dars sum threads on this but are a bit dated so im askin in case theres new regulations!! i just need to know which are the best banks to go with and how too set up one online!!! also how long in advance should i transfer my money into it!!
    Thanks guys
    amy


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    #2
    hussey
    Registered Users Posts: 6,240 ✭✭✭hussey


    Mod Amy - It's all answered in the FAQ. How to set up a bank from Ireland for 4 major banks, how to transfer cash via Currency fair (the cheapest and the best). They are not dated, they are updated regularly, and there is no new regulation. In fact there is a thread right now called
    "Setting up a bank account in Oz for free before I leave"

    Which one is the best is a matter of personal opinion, but Choice magazine best low fee account is NAB (source: http://www.choice.com.au/reviews-and-tests/money/banking/saving-money/best-low-fee-bank-account.aspx) again how to set this account up from Ireland is in the FAQ
    Also check this comparison website out: http://www.canstar.com.au/

    Money transfers has again been asked many times, there is no right answer about how long in advance, but at the moment the Australian dollar is at record highs against the Euro, so you have plenty of time to think whether this will go up or down.
    Also check whether banks charge any monthly fees, or if you can open any savings account with them, e.g. if you open a NAB iSaver account you can get 5.5% interest for 4 months.


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