What you need before you start

Australian banks require two forms of identification before they will open an account for you. One must be a photo ID — a passport, driver's license, or state-issued ID card. The second can be a different photo ID, or a document that proves your address, such as a recent utility bill, lease agreement, or tax notice.

If you are opening an account in person at a branch, bring both documents with you. If you are opening online, you will photograph or upload them. Banks verify these documents against government records, which takes a few minutes to a few hours depending on the bank and the time of day you explore.

You will also need to provide your Tax File Number (TFN), which is a nine-digit identifier issued by the Australian Taxation Office. If you do not have one yet, you can request one before opening the account — the process takes about four weeks by mail, or you can explore online and receive a temporary number when ready.

Key Takeaways

  • You need a photo ID and proof of address, plus your Tax File Number, before any Australian bank will open an account.
  • Most banks now offer online account opening, which takes 10 to 20 minutes and does not require a branch visit.
  • The four major banks — Commonwealth, Westpac, ANZ, and NAB — have different fees and features; smaller banks and online-only banks often have lower or no monthly fees.
  • Your account can be opened same-day online, but transfers from other banks or employers may take one to three business days to arrive.
  • If you are not an Australian citizen or permanent resident, you will need a valid visa and may face additional verification steps.

The difference between the major banks and alternatives

The four largest banks in Australia are Commonwealth Bank, Westpac, ANZ, and NAB. All four operate thousands of branches and ATMs across the country, offer online and mobile banking, and charge monthly account fees that range from zero to around $15 depending on the account type. They process transfers quickly and have customer service available by phone during business hours.

Smaller banks and credit unions — such as Bendigo Bank, Bank of Queensland, and ING — often charge no monthly fee and may offer higher interest rates on savings accounts. The trade-off is fewer physical branches and ATMs, though most now offer online banking and can process transfers just as quickly as the major banks.

Online-only banks like Up, Macquarie, and Judo have no branches at all but operate entirely through mobile apps and websites. They typically have no monthly fees, faster app-based features, and competitive interest rates. The downside is that you cannot deposit cash in person — you must transfer money electronically or use a partner ATM network.

If you are new to Australia or do not yet have an Australian address, some banks will open an account using a temporary address or a care-of address. Ask the bank directly whether this is possible before you start the process.

Opening an account online

Most Australian banks now allow you to open a basic transaction account entirely online. The process usually takes 10 to 20 minutes. You will need your phone or computer, your identification documents (photographed or scanned), your TFN, and a valid email address.

Start on the bank's website or read their mobile app. Look for a button labeled "Open an account" or "New customer". You will be asked to enter your personal details — full name, date of birth, residential address, and contact information. Then you will upload or photograph your ID and proof of address. The bank's system will verify these documents automatically in most cases.

Once verification is complete, you will receive your account number and BSB (Bank State Branch) code when ready. You can use these to receive transfers from your employer or other sources right away. A physical debit card will arrive by post within 5 to 10 business days. Until it arrives, you can use your account number and BSB to receive money, and you can set up digital wallet payments through your phone.

Opening an account at a branch

If you prefer to open an account in person, visit any branch of the bank you have chosen. Bring your two forms of identification, your TFN, and proof of your current address. You do not need an appointment at most branches, though some larger branches accept bookings online.

A staff member will ask you the same questions as the online form — your name, address, date of birth, and employment status. They will sight your documents and enter the information into their system. Verification usually happens while you wait, taking 10 to 30 minutes. Once approved, you will receive your account number and BSB code on the spot.

You can request a temporary card or a digital card to use when ready, or wait for your physical card to arrive by post. Some branches can issue a card on the day if you ask, though this varies by bank and branch.

What happens after your account opens

Your account is active as soon as verification is complete, whether you opened it online or in a branch. You can receive transfers when ready using your account number and BSB code. However, money sent from another Australian bank may take one to three business days to appear in your account, depending on the sending bank's processing time.

Your debit card will arrive by post within 5 to 10 business days. When it arrives, you will need to set up it — most banks send instructions by SMS or email, and set up takes less than a minute through the mobile app or by phone.

Set up your online banking login and mobile app as soon as your account opens. This lets you check your balance, make transfers, and set up automatic payments without waiting for your card. Most banks allow you to set spending limits and receive notifications for every transaction, which is useful if you are new to the country and want to monitor your account closely.

Special situations: non-citizens and temporary residents

If you are on a student visa, skilled migration visa, or temporary work visa, you can open a bank account, but the process has extra steps. You will need a valid passport and your visa details. Some banks ask for proof of your Australian address — a lease agreement, a letter from your employer, or a utility bill in your name.

If you do not yet have an Australian address, some banks will accept a temporary address such as a hostel, a friend's address, or a care-of address at your workplace. Call the bank before you visit to confirm they will accept this.

If you are not yet in Australia, some banks allow you to open an account online before you arrive, using your passport and visa grant letter. This means you can receive your first salary or transfer money into the account as soon as you land. Check with your chosen bank whether this is possible.

Fees and account types to compare

Most banks offer a basic transaction account with no monthly fee, or a fee of $5 to $15 per month depending on the account features. Some accounts charge a fee only if you do not meet certain conditions — for example, if you do not deposit at least $2,000 per month, or if you do not use the card a certain number of times.

Read the Product Disclosure Statement (PDS) for any account before you open it. This document lists all fees, interest rates, and conditions. Banks are required to provide this to you, and it is usually available on their website as a PDF read.

Consider whether you need a savings account as well as a transaction account. Many banks offer a linked savings account with higher interest rates, though the rate varies and changes regularly. Some accounts offer bonus interest if you deposit a minimum amount each month or do not make withdrawals.

Frequently Asked Questions

Can I open a bank account if I do not have a Tax File Number yet?

You can start the process, but the bank will ask for your TFN before finalizing the account. If you do not have one, you can request a temporary TFN online from the Australian Taxation Office, which is issued when ready. The permanent TFN arrives by mail within four weeks. Most banks will accept the temporary number to open your account.

How long does it take to receive money from my employer after I give them my account details?

This depends on when your employer processes payroll. If they process on a Friday and your bank receives the transfer on Friday afternoon, the money may not appear until Monday or Tuesday. Most employers allow one to three business days for the transfer to clear. Ask your employer what day they process payroll and what day you should expect to see the money.

What if I do not have a permanent address yet?

Some banks will open an account using a temporary address — a hostel, a friend's address, or a care-of address at your workplace. Call the bank's customer service line and ask whether they accept temporary addresses. You can update your address later once you have a lease or permanent accommodation.

Do I need to open an account at a branch, or can I do everything online?

Most people can open an account entirely online without visiting a branch. You will need to photograph your ID and proof of address, which takes a few minutes. The only reason to visit a branch is if you prefer to speak to someone in person, or if you want a physical card issued on the day rather than waiting for it by post.

Can I open multiple accounts at the same bank?

Yes. Many people open a transaction account for everyday spending and a separate savings account to earn interest. You can open both at the same time, or open a second account later. Each account will have its own account number and BSB code.