How to Open a Bank Account in Australia
If you are vacationing, visiting, working or planning on living in Australia, you may decide to open a bank account there. Australia has a 100-point identification system you must pass to be able to bank there. Foreign passports, drivers licenses and birth certificates are generally accepted but may have to go through a bank manager for approval. If you open a bank account within six weeks to three months (depending on the bank) after arriving to live in Australia, a passport is all that's needed.
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Things You'll Need
- Birth certificate, passport or citizenship certificate Drivers license, shooters license, public service employee ID card, or a commonwealth or state government financial entitlement card Medicare card, credit card, store account card, video store card, library card, car registration, utility bill, rental receipt or union card Land rates
Instructions
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Australian 100-Point System
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Show the bank a birth certificate, passport or citizenship certificate to receive 70 points.
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Show the bank a drivers license, shooters license, public service employee ID card or a commonwealth or state government financial entitlement card to receive 40 points.
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Show the bank land rates to receive 35 points. Land rates are Australian property tax documentation.
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Show the bank a Medicare card, credit card, store account card, video store card, library card, car registration, utility bill, rental receipt or union card to receive 25 points.
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Add up the points. As long as your total is more than 100 points, you can open a bank account in Australia. Australia is prideful about its 100-point system. Australians feel it helps keep the bank manager out of the equation. Through the point system, Australia, unlike the UK, has taken away the human element of making financial decisions. The same criteria stands for rich or poor.
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Resources
- Photo Credit www.american.edu
