How to open a bank account
A bank account makes getting paid, using your money and getting savings together easier. To find the best account for you, follow the steps below.
Outcome
To open a bank account
Let's start with why it is important:
- a bank account means it is easy for you to get paid and to pay bills
- putting your money in a bank account will mean it is safe and it will help you to understand your financial situation
Information
For video transcript click here.
To open a bank account you will need to go to the enquiry counter of the bank and ask to open an account. Some banks may also allow you to apply for an account online. In order to open an account with any bank, you will need to fill out some forms. You will need to provide the bank with more than one form of identification, such as a birth certificate and photo ID.
If you need to know how to get ID, head to this page to find out more.
What to do next
Choose a bank
Here is a short list of some common Australian banks that provide low fee accounts, for more information contact the bank:
Commonwealth Bank offers a Basic Streamline account to Health Care and Concession card holders. This account does not have account keeping fees. This account comes with a debit card & app.
NAB offers an account with no fees either, their Everyday Banking Account has no fees. This account comes with a Visa Debit card & app.
When choosing a bank ensure you choose one with a good reputation, it might be a good idea to do research including asking friends, co workers and family.
More Information & Services
CALL CENTRELINK FINANCIAL INFORMATION SERVICES 132 300 (free financial advice from Centrelink)
CALL CENTRELINK INCOME MANAGEMENT 1800 132 594 (counselling service for ATSI peoples available 24/7)
CALL INDIGENOUS CONSUMER ASSISTANCE NETWORK (ICAN) 1300 369 878 (available 3pm - midnight everyday for LGBTI peer support)
Offers free advice on managing your money
Free financial advice
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