Bank accounts

Opening a bank account in Australia is useful even if you are only here for a short time. Most banks offer special discount packages for students. There are four major banks in Australia.

Commonwealth Bank has a campus branch at the University of Melbourne

Commonwealth has teams to assist you to meet the challenges of your new life in Australia such as referring you to relevant government authorities, industry associations, business contacts, investment consultants and real estate agents. Migrant Banking services are available at 367 Collins Street , Melbourne 3000, telephone +61 3 9675 1864. Overseas offices are listed on the website www.commbank.com.au/personal/DayBanking/MovingToAustralia.asp.
Commonwealth has tertiary student accounts with reduced bank fees. Please refer to www.commbank.com.au/personal/youth/tertiary.asp.  

National Australia Bank has a campus branch at the University of Melbourne

National offer a National Tertiary Student Package (TSP) designed exclusively for full-time tertiary students with a range of products that can be tailored to meet your needs. www.national.com.au/Personal_Finance/0,,9712,00.html.

Westpac Bank

Westpac offer free day-to-day banking for tertiary students. Please refer to their youth and student centre under Transaction and Savings Accounts on www.westpac.com.au

ANZ Bank

Full-time students receive free account servicing each month with ANZ's Access Advantage account. Please refer to www.anz.com.au/australia/pernsbnk/students/default.asp.
Melbourne University Credit Co-operative is located on campus and provides an alternative to the above banks. More information is available at http://www.mucu.com.au/.

You can transfer funds from home to Australia using bank drafts or cheques and telegraphic transfers. Credit cards are another way of transferring funds. Bank drafts and cheques tend to take up to 10 working days to clear through an Australian bank. Telegraphic transfers usually take a few days but are more costly.

Bank opening hours tend to vary but most banks open from Monday to Thursday 9am–4pm, Friday 9am–5pm and are closed on the weekends.