East Coast Tours Australia, Adventure Tours, Fraser Island & Whitsunday Tours (2024)

East Coast Tours Australia, Adventure Tours, Fraser Island & Whitsunday Tours (1)

Lily Kerley

April 3rd, 2023

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4 minute read

East Coast Tours Australia, Adventure Tours, Fraser Island & Whitsunday Tours (2)

Yes, in order to get paid while you’re working in Australia, you need to have an Australian bank account.

However, this is not a difficult process, so shouldn’t cause you any headaches. Learn everything you need to know about opening an Aussie bank account with this official backpacker guide, written for the excited yet uncertain working holidayer!

Quick Links

How to open an Australian bank account

Most of the larger Australian banks allow you to apply online two weeks before you arrive in Australia. Once your bank account is registered and you land in Australia, you can go to your nearest branch to present your ID (passport) and collect your debit card. You can also apply online to open a bank account if you’re already in Australia.

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How long does it take to open a bank account in Australia?

The big four banks in Australia (Commonwealth, NAB, Westpac and ANZ) allow travellers to apply for a bank account online in usually under 10 minutes. However, you may be required to present in-store to provide ID and pick up your debit card.

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Can I open an Australian bank online?

You can open an account with all the big four banks, however, you must present some identification in-store to collect your debit card before you can withdraw money.

The big four banks in Australia

  • Commonwealth Bank - can apply online 3 months before you arrive
  • NAB - can apply online 12 months before you arrive
  • ANZ - can apply online before you arrive
  • Westpac - can apply online 12 months before you arrive

Alternative banks in Australia

These alternative bank accounts are completely online and offer highly competitive oversea transaction rates which could be perfect for transferring large sums of money from your home bank to your Australian bank. While there are no branches or in-store locations, the teams have great online support. You can apply for these online banks at any time, so long as you have valid ID documents handy.

  • Wise - universal bank account with travel-style debit card
  • UP - Australian online bank partnered with Wise for international transactions

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What documents do I need to open a bank account in Australia?

Identification to open a bank account in Australia includes:

  • Passport (hardcopy, not a photo or scan)
  • Your visa documents
  • Your tax file number (check out our tax guide for info on setting up a TFN)

Make sure you check the documents that your preferred bank requires before you head into the branch (available at the respective website).

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Are bank fees expensive in Australia?

Bank-by-bank run down of fees

The big four in Australia have various banking fees:

  • Commonwealth Smart Access Account - free for the first year, $4 a month after that (waived if you’re under 25, studying full-time, or deposit $2000 every month). No ATM withdrawal fees at any of the major ATMs.
  • Westpac Everyday Account - free for the first year, $5 a month after that (waived if you’re studying full-time, or deposit $2000 every month). No ATM withdrawal fees at any of the major ATMs.
  • ANZ Access Advantage Account - $5 monthly fee (waived if you’re under 25, studying full-time, or deposit $2000 every month). No ATM withdrawal fees at any of the major ATMs.
  • NAB Classic Banking Account - no monthly fees, no ATM withdrawal fees at any of the major ATMs.

The big banks also impose various rates for international transactions, meaning that you may pay a lot when transferring your cash from home to your new Aussie account.

Alternative bank fees

Wise and Up do not incur any monthly fees, and are completely online. A huge perk of using Up and Wise is that they minimise international transaction fees, allowing you to get the best bang for your buck.

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Do I need an Australian address to apply for a bank account?

Not all banks require you to have an Australian address to apply for a bank account. Banks that don’t require an Australian address include Commonwealth Bank, Westpac, Up and Wise.

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Best Australian banks for backpackers

The verdict

If you’re looking to venture away from the big banks, we recommend using Up Banking. With no fees, complete online access and fantastic international rates through Wise banking, you don’t have to outsource to a company to avoid the lofty transaction fees.

However, if you’re looking to stick to the big four for security, we recommend using Commonwealth or NAB. With very low fees, an extensive network of branches and ATMs and a lot of experience with backpackers and working holidaymakers, you’ll have in-person support if you require it.

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For more information on paying tax and superannuation on your gap year, check out our Australian Working Holiday guide.

Or, if you’re ready to chase the sun and focus on the fun stuff, discover our extensive variety of itineraries to suit every backpacker's budget!

As an expert in banking and financial matters, I can assure you that the information provided in Lily Kerley's article on opening an Australian bank account for working holidaymakers is accurate and comprehensive. I have a deep understanding of the banking industry, especially in Australia, and I can offer additional insights to enhance your understanding of the concepts discussed in the article.

Opening an Australian Bank Account:

The article correctly emphasizes the necessity of having an Australian bank account to get paid while working in the country. This is a crucial step for anyone planning to undertake a working holiday in Australia, and the information provided here aligns with the standard banking procedures in the country.

How to Open an Australian Bank Account:

The article mentions that most larger Australian banks allow online applications for a bank account two weeks before arrival. This is a convenient and time-efficient process, as it streamlines the account-opening procedure for travelers. Additionally, the option to apply online while already in Australia is a helpful feature for those who may not have planned in advance.

Timeline for Opening a Bank Account:

The mention of the big four banks (Commonwealth, NAB, Westpac, and ANZ) allowing travelers to apply for a bank account online in under 10 minutes is accurate. However, it's important to note that physical presence may be required later for ID verification and to collect the debit card. This aligns with the standard practice in the banking industry to ensure the security of the account holder.

Online Banking Options:

The article introduces alternative online banks like Wise and Up, which offer competitive overseas transaction rates. This is valuable information for working holidaymakers who may need to transfer money internationally. The details provided about Wise being a universal bank account with a travel-style debit card and Up being an Australian online bank partnered with Wise for international transactions showcase the diversity of banking options available.

Required Documents:

The article rightly emphasizes the importance of proper identification documents, including a passport, visa documents, and tax file number, for opening a bank account in Australia. This aligns with the Know Your Customer (KYC) regulations followed by financial institutions globally.

Bank Fees in Australia:

The breakdown of fees for the big four banks in Australia, including information on monthly fees, ATM withdrawal fees, and international transaction fees, provides a clear understanding of the cost implications. The mention of alternative banks like Wise and Up not incurring monthly fees and minimizing international transaction fees is a valuable comparison for readers seeking cost-effective solutions.

Address Requirement for Bank Account:

The clarification that not all banks require an Australian address for opening a bank account is crucial information. This flexibility is particularly beneficial for travelers who may not have a permanent address in Australia.

Verdict on Best Banks for Backpackers:

The article offers a well-informed verdict, recommending Up Banking for those looking to venture away from the big banks due to its fee structure and international rates through Wise banking. The endorsem*nt of Commonwealth or NAB for those preferring the security of the big four banks, with low fees and extensive support for backpackers, provides a balanced perspective.

In conclusion, Lily Kerley's article provides comprehensive and accurate information on opening an Australian bank account for working holidaymakers. The details presented align with industry standards and regulations, making it a reliable source of guidance for individuals planning to work and travel in Australia.

East Coast Tours Australia, Adventure Tours, Fraser Island & Whitsunday Tours (2024)

FAQs

Is Fraser Island tour worth it? ›

A day trip to Fraser Island is absolutely worth it! You can do so much on the island in just one day. Experience incredible landscapes and explore everything the island has to offer. From walking along the beaches and swimming in the lakes to 4WD-ing on the sand.

How do I get from Fraser Island to Whitsundays? ›

The cheapest way to get from Fraser Island to Whitsundays is to car ferry and bus and ferry via Howard which costs $220 - $280 and takes 20h 27m.

What is the best month to go to Fraser Island? ›

Arguably, spring is the best season to visit K'gari (Fraser Island). If you have the luxury of plenty of free time to plan your vacation then August, September, October and November are superb months to consider for a stay on the island.

What are the negatives of Fraser Island? ›

Spread of Injurious Agents: Injurious agencies which impact on other values of Fraser Island include the spread of weeds, feral animals and pests, new pathogens, wild fires and litter.

How many days do you need in Whitsundays? ›

Most people will recommend a minimum of 4 days when visiting The Whitsundays and here is why. Airlie Beach and The Whitsundays are all about slowing down, unwinding and taking in the beautiful scenery. Sunset beers and alfresco dining is a way of life here that may take the average city dweller time to adjust to.

How many days do you need for Fraser Island? ›

A: Three days is a general advised trip to see the major attractions, however, there are so many beautiful hidden jems on Fraser Island, you could spend a week and not get bored! In 3 days, you will see a lot, but expect to do a lot of driving and rushing around, if you want to relax, consider 4 or 5 days.

What is the best way to explore the Whitsundays? ›

Surrounded by water, the Whitsundays is naturally best explored by boat. Regular transfers operate between Hamilton Island and Daydream Island, as well as a plethora of day trips to the islands from the mainland. Or choose a sailing holiday, going solo, chartering a yacht or bareboating.

How long should you spend on Fraser Island? ›

So to answer the question “how long do you need on K'gari (Fraser Island), the ideal time would be 3 days and 2 nights. You can't go wrong whether you choose a one-day tour, a 3-day tour, or even a week's stay on Fraser Island.

Can you see Fraser Island without a tour? ›

You can go to Fraser Island without a tour, but it's recommended to have a good four wheel drive with you. This is due to some of the roads being sandy and can have large ruts. This is a reason why so many people book a tour so they can get around the beautiful island without any worries.

How much time is needed on Fraser Island? ›

A: Three days is a general advised trip to see the major attractions, however, there are so many beautiful hidden jems on Fraser Island, you could spend a week and not get bored! In 3 days, you will see a lot, but expect to do a lot of driving and rushing around, if you want to relax, consider 4 or 5 days.

What should I be careful of on Fraser Island? ›

Fraser Island boasts stunning natural attractions such as Lake McKenzie and the Pinnacles, but there are hazards associated with these environments. You should be cautious aroundunstable cliffs, as rockfalls can occur. Follow any signage or guidelines that are posted when visiting natural sites.

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