Banking in Australia

Best banks in Australia for expats & digital nomads

Opening a bank account is one of the first things you do after moving to Australia. Here are the accounts that work for newcomers and non-residents, plus the fintech we would set up before you fly.

How to open a bank account in Australia

Very newcomer-friendly: the big four let you open an account online up to about 3 months before arrival with just a passport. After arrival you complete ID checks (100-point check) with an Australian address and provide a Tax File Number within ~6 weeks to avoid withholding tax on interest.

Our top pick

Wise multi-currency account

Wise is the option we recommend for almost anyone moving to Australia: hold and convert 40+ currencies, get local account details to be paid like a local, and send money at the real exchange rate with low, transparent fees. It works before you even arrive, so you can receive income and pay deposits while your local account is still being set up.

Open a free Wise account →

Affiliate link: we may earn a commission at no cost to you. Wise is a fintech, not a bank; balances are safeguarded, not covered by deposit insurance.