Banking in Australia for working holidaymakers

The short version

CommBank and Westpac let you start your account online up to 14 days before you arrive. NAB and ANZ currently open accounts after you arrive. Whichever you choose, you'll need to verify your ID in a branch with your passport before you can use the account fully. A multi-currency account such as Wise can receive pay in the meantime.

What each bank offers new arrivals

All four major banks run dedicated accounts and processes for new arrivals. Here's the current official position of each (all verified on the banks' own sites, June 2026):

Commonwealth Bank: Everyday Smart Access. Open online up to 14 days before you arrive, or within 12 months after arriving. No Australian address needed to open; you can transfer money in straight away but can't withdraw until you've verified your ID at a branch. You must do that branch visit within 20 days of opening or the account closes automatically. The monthly account fee is waived for the first 12 months when you open through the new-arrivals application, and stays waived if you're under 30 or deposit at least $2,000 a month. CBA can't accept visitor visas (subclasses 600, 601, 651); working holiday visas are fine. (commbank.com.au)

Westpac: Westpac Choice (new arrivals). If you'll arrive within 14 days, you can start your setup online from overseas, getting your customer ID and online banking profile; you activate the account with an ID check at a branch after landing, then get an instant digital card in the app. You can also open it up to 12 months after arriving. The $5 monthly fee is waived for the first 12 months, and after that if you deposit at least $2,000 a month, are under 41, or are a full-time tertiary student. (westpac.com.au)

NAB: Classic Banking. NAB's everyday account has no monthly account fee at all, which makes it the cheapest of the four to hold long-term. The trade-off: NAB currently requires you to open the account at a branch after you arrive, with an Australian address and mobile number, a valid visa (not a tourist visa) and at least six months left on it. (nab.com.au)

ANZ: Access Advantage or ANZ Plus. ANZ sets up accounts once you've arrived, with an Australian residential address and mobile number. Access Advantage's monthly fee is waived in any month you deposit $2,000 or more. ANZ Plus, the app-based account, has no monthly account service fee and is opened entirely in the app. (anz.com.au)

There's no single best choice. If opening before you fly matters, it's CommBank or Westpac. If you want zero ongoing fees without conditions, it's NAB or ANZ Plus. All four are full-service banks with large ATM networks and solid apps.

Documents you'll need

To open online from overseas (CBA or Westpac):

• Current passport
• Visa details (your 417 or 462 grant notification)
• An arrival city, and an Australian address if you already have one (your hostel is fine; you can update it later)

To complete ID verification in branch after arrival:

• Your original passport
• Tax residency details, including the tax identification number from any country where you're tax resident (for most people, your home country tax number)
• An Australian residential address

Once verified, you get full app access, a debit card, and you're ready to be paid. Set up your account's PayID (linked to your Australian mobile number) and note your BSB and account number. Those two numbers are what every employer asks for.

Fees to watch

• Monthly account fees. See the per-bank details above. The pattern: fees of around $5 a month exist but are waived for most working holidaymakers through first-year offers, age conditions or monthly deposit conditions. Check which waiver applies to you rather than assuming.
• Other banks' and independent ATMs. Withdrawals from your own bank's ATM network are free. Independent ATMs (the ones in pubs and convenience stores) may charge a fee, which is shown on screen before you confirm. Tap-to-pay is universal in Australia, so you'll rarely need cash.
• Foreign transaction fees. Standard debit cards charge a percentage on foreign-currency transactions; Westpac, for example, charges 3% where the merchant is located overseas (westpac.com.au). Relevant if you keep using the card while travelling beyond Australia.
• International transfer margins. Banks typically add an exchange-rate margin when you move money in or out of AUD, on top of any transfer fee. This is where the real cost hides. Compare the AUD amount that actually arrives.

Getting paid before your account is ready

There's often a gap: you've landed, you've found work fast, but your branch visit hasn't happened or your card hasn't arrived. Two ways to bridge it.

A multi-currency account. Wise provides Australian account details (a BSB and account number) that can receive salary payments like any local account, alongside your home currency balance, and you can set it up entirely from home before you fly. It converts currency at the mid-market rate with a transparent fee, so it also covers bringing your savings over and sending money home later. Revolut offers a similar app-based multi-currency account. Most travellers still open a local bank account as well, since some employers, landlords and bond authorities prefer a traditional bank.

Time your account opening. Open with CommBank or Westpac in the 14 days before you fly and visit a branch in your first day or two, and your account can be fully active before your first shift. The branch visit takes about half an hour with your passport.

Sending money home

When you leave, or whenever you want to move savings back to your home currency, the same maths applies: the bank's exchange-rate margin usually costs more than a specialist's fee. Wise and OFX are established specialist options for AUD transfers. Compare the destination amount on the day.

Before you leave Australia

Sources: commbank.com.au · westpac.com.au · nab.com.au · anz.com.au. Last verified 2026-06-11.