Australia is a hospitable country with many options for both domestic and international students. If you want to study at one of Australia’s leading institutions, there are a few things you need to know before you go abroad. Make sure you know some of the best banks in Australia for international students to start their study trip abroad.
The Australian Banking System is one of the most important things you need to know. You can manage your finances in Australia through a variety of institutions, ranging from construction companies, local credit unions to banks. Many Australian banks also provide banking services to international students.
The best banks in Australia for international students
Below I have listed some of the best student banks in Australia that you should consider for an easier and smoother experience with overseas banking.
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NAB Classic Banking | The best banks in Australia for international students
National Bank of Australia offers traditional bank accounts with no overdraft fees, monthly account fees or direct ATM fees when using any ATM rediATM or NAB. It allows you to easily manage your account over the phone or online banking.
You can also apply for a free VISA debit card and use it to shop wherever VISA is recognized. With the classic NAB account, you can also complete your regular banking transactions at any Australian post office.
It is worth noting that the NAB student account is charged $ 5 for ATM withdrawals abroad and charged 3% in foreign currency. Due to its expediency, it is considered one of the best student banks in Australia.
It also includes NAB defense, which protects your account from fraud. Finally, you can connect your account to NAB iSaver and transfer money whenever needed.
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Westpac – Westpac Student Choice
The Westpac Choice Student account is ideal for full-time overseas students looking for a free account at a reputable Australian bank.
There are many benefits to having this account for international student banking in Australia. Allows you to send money from around the world, create an account almost a year before you arrive, manage your money on the go with digital money, and shop securely online with a MasterCard debit card linked to your Choice account.
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The best aspect of having a Westpac student account is that students will not have to pay a withdrawal fee if you use the ATMs of major Australian banks such as Westpac, St. George, Bank of Melbourne, ANZ, NAB, Commonwealth Bank and BankSA. In addition, you will be able to make unlimited free telephone, online, BPAY and in-branch transactions.
The bill for ATM use outside the United States is $ 0. If you wish to withdraw money from another ATM, you will have to pay a 3% foreign exchange commission plus a $ 5 ATM fee.
Check out: Universities with high acceptance rates in Australia for international students
Advantage of student access ANZ – ANZ
The ANZ Student Access Advantage aims to provide students with simple financial solutions and no fee, making it Australia’s best bank account for a teenager. It protects your money while at the same time allowing the bearer to complete the usual transactions. You must be a full-time student and present your valid student ID to an ANZ Bank agent at the beginning of each academic year to open an ANZ Student Account.
There are several other benefits to having an ANZ Student Access Advantage account, ie unlimited transactions, no threshold balance, no withdrawal fees, the goMoney mobile app and an Access Visa debit card.
If you have an ANZ International Student Account, you can use your debit card to make withdrawals from abroad. However, be aware that there will be a 3% foreign exchange commission and an ATM charge of $ 5. ANZ has successfully facilitated banking for overseas students in Australia.
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Commonwealth Bank – Student Smart Access
Commonwealth Bank is one of the largest and most important banks in Australia. Provides Student Choices to both full-time and part-time students, enabling them to benefit from great savings on a variety of banking products.
Three months prior to arrival, overseas students can open a Commonwealth Bank Smart Access Student account. And it has no monthly charge, which makes it ideal for students who need a daily trading account. You can also use this account to shop in-store or digitally and get free access to exclusive offers and promotions using a debit card.
In addition, Commonwealth Student Financial includes a free health assessment to help you choose the best banking services for your needs. You can also use the CommBank app to record and handle your money from around the world, as well as the Spend Tracker to track your students’ spending.
This is a guide to student bank accounts in Australia, where you learn about various bank accounts. We hope you enjoyed reading this blog. If you did, be sure to check out our other informative blogs linked below!
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