You can open the account before you fly
Every major Australian bank lets international students apply online from overseas, months before departure. This gets you an account number to receive funds and a card waiting at your Australian address — but you must verify your identity in person within a set window after arrival. Confirm current rules with your chosen bank, as policies change.
Which bank
| Bank | Student account | Strengths | Watch for |
|---|---|---|---|
| Commonwealth Bank (CBA) | Yes — free (Smart Access) | Largest ATM/branch network, popular with new arrivals, strong app | Busy branches during Feb/July orientation |
| NAB | Yes — free | Straightforward online account opening from overseas | Fewer branches in some outer suburbs |
| ANZ | Yes — free | Good migrant/student onboarding process, multilingual support lines | Card can take 1–2 weeks to post |
| Westpac | Yes — free (Choice account, fee-free under 30 or student) | Wide network, easy PayID setup | App slightly less polished than CBA's |
| Digital banks (Up, ING) | Fee-free everyday accounts | No monthly fees, fee-free ATM refunds, slick apps | No physical branches — harder for the initial 100-point ID check on arrival |
For a first account, CBA, NAB, ANZ or Westpac are the practical choice because they have branches near campus for the mandatory identity verification. Add a digital bank like Up or ING later for fee-free ATM withdrawals and better savings interest once you're settled.
Opening it, step by step
Do this before your flight — it removes one entire task from your first week.
- 1
Apply online from Bangladesh
Use the bank's international/migrant student account page. You'll need your passport number, Australian visa grant number, CoE (Confirmation of Enrolment), and an Australian mailing address (a friend's, homestay, or your uni's address works temporarily).
- 2
Receive a temporary account number and BSB
Use this to receive fee payments or family transfers even before you land, and to show proof of funds if requested.
- 3
Verify your identity within the window
Visit a branch in person with your passport (and visa) within roughly 6 weeks of the account being opened — at this stage your passport alone is enough as the sole ID document. Miss the window and the account can be restricted or closed.
- 4
Activate your card and set a PIN
Do this at the branch or via the app immediately — many outlets won't accept an unsigned or unset card.
- 5
Set up PayID/Osko
Link your phone number or email to your account for instant, free transfers with landlords, flatmates and marketplace sellers — the Australian equivalent of bKash-style instant transfers.
The 100-point ID check
Australian banks use a points system to verify identity for anything beyond the initial passport-only setup (e.g., some digital banks, or upgrading account features).
| Document | Points |
|---|---|
| Passport | 70 |
| Australian visa grant notice | 20 |
| Overseas driver's licence with photo | 40 |
| Student ID card | 25 |
| Utility bill / tenancy agreement in your name | 25 |
A passport plus your visa grant notice already gets you to 90–100 in most cases, which is why it's the easiest first document set to bring to any bank appointment.
Sending money to and from Bangladesh
The gap between the cheapest and most expensive method is typically 5–8% of the transfer amount.
| Method | Typical cost on A$1,000 | Speed | Notes |
|---|---|---|---|
| Wise | ≈ A$8–15 (0.8–1.5%) | Same day–1 day | Mid-market rate, most transparent |
| Remitly | ≈ A$0–10 promo, then ~1–2% | Minutes–1 day | Good first-transfer promos, watch the exchange margin |
| Bank wire (CBA/NAB/ANZ/Westpac) | A$15–30 flat fee + 3–5% rate margin | 1–3 days | Simple but the worst value for regular transfers |
| Western Union | Varies, often 2–4% | Minutes–1 day | Useful for cash pickup in Bangladesh |
For sending money home, compare the total landed amount (fee plus exchange rate margin), not just the advertised fee — a "free transfer" with a bad exchange rate can cost more than a service with a visible A$5 fee.
PayID makes flat life much easier
Never let anyone use your account to move money
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