There are 3 types of bank accounts available – transaction, savings, and student accounts.
The ideal bank will offer unlimited deposits and withdrawals, no monthly service fee, no minimum balance, free overseas cash withdrawal, fee-free international money transfer, and no overdraft fee.
To open your bank account in Australia online, you must keep some details handy. These include your passport number and expiry date, e-mail, contact number, date and city of arrival in Australia.
You can open a bank account online up to 12 months before your arrival. It takes about 10 minutes to complete the form! On arriving in Australia, you will have at least 3 weeks to visit the local branch and verify your identity.