Best Bank In Australia for International Students 2025

As much as owning an account in any of the banks is important in your home country, it is more important if you are a foreigner in a new country like Australia because you would need to receive international transfers, pay bills, and save up if you’ll be working while in school.

Alias, finding the right bank can be quite frustrating but thanks to our team of researchers who have been able to come up with some of the few banks that are most suitable for international students.

1. Westpac Student Choice Bank Account

Are you thinking what I’m thinking? Westpac Student Choice bank account is specifically for students. With no ATM withdrawal fee and a $0 monthly service fee as long as you are a full-time student or under 21, Westpac allows international students to open their bank accounts up to three months before coming to Australia, or on arrival.

As an international student, you are allowed to send money from all over the world, manage your money on the go with digital money, and buy safely online with a Debit MasterCard linked to your Choice account.

With a Westpac student account, students won’t have to pay any withdrawal fees if they use the ATMs of major Australian banks like Westpac, St. George, Bank of Melbourne, ANZ, NAB, Commonwealth Bank, and BankSA. Additionally, you will be able to make a limitless free phone, online, BPAY, and in-branch transactions.

2. ANZ Student Access Advantage

The ANZ student access advantage provides students with an effortless means of tackling their financial needs, keeping funds safe while equally enabling users to complete their routine transactions.

The requirement for opening this account is always a valid student IF at the start of each academic year.

The benefits to having an ANZ Student Access Advantage account are limitless like multiple transactions, no threshold balance, zero withdrawal fees, the goMoney mobile app, and an Access Visa Debit card.

Could use your debit card to make overseas withdrawals if you have an ANZ international student account but you need to be aware that there will be a 3% foreign exchange commission and a $5 ATM fee.

3. Commonwealth Bank Students Smart Access

The Commonwealth Bank is one of Australia’s largest banks that provides exceptional benefits to students like the privilege to create an account three months before their arrival with no monthly charge and the opportunity to use this account to purchase at stores or digitally and gain free access to exclusive offers and deals by using a debit card.

Additionally, Commonwealth Student Financial includes a free health assessment to help you select the finest banking services for your needs. The Commonwealth Bank Student Smart Access account benefits include zero monthly account fee and a host of free transactions from network ATMs, EFTPOS, counter deposits, phones, and the internet. The foreign exchange fee, however, sits at 3.00%.

4. National Bank of Australia

National Bank of Australia (NBA) is a classic banking system in Australia that offers monthly account fees and unlimited phone and internet transactions perfect for easy payment of bills, with a $5 fee for overseas ATM fees applied plus access to over 7,000 ATMs across Australia, with no ATM fees.

What’s good? You could create an account with NBA before arriving in Australia.

Relevant Documents Needed For Creating An Account

This may differ according to banks but here are the basics;

• Passport
• Proof of residence
• Birth certificate
• Driver’s license.
• You may be required to provide your intended arrival date and the name of the Australian city you’ll be arriving as well as ensure you arrive in Australia within 6-12 months of opening your bank account in addition to your legal age of eighteen.

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