You need an Australian bank account almost immediately after you arrive — to be paid, to pay rent and bills, and to move money in from home. This guide covers what you can realistically do before you land, what identification the bank will ask for and why, what changes once you give the bank your tax file number, and how the big four banks differ from the digital ones. Everything here was checked against Australian Taxation Office, Moneysmart (ASIC) and AUSTRAC pages on 14 October 2026.
Key facts at a glance
| Before you arrive | Some banks let you start an application online before you land, but you will normally finish identification once you are in Australia. Confirm the process with the bank directly. |
|---|---|
| Identity check | Banks run their own identity checks, commonly described as a “100 point check”. Which documents score points, and how many, is set by each bank. |
| Usually asked for | Your passport, plus evidence of your visa and an Australian address. Confirm the exact list with your bank. |
| Tax file number (TFN) | Free to apply for, online, once you are in Australia. Allow up to 28 days for the notification letter. |
| Interest without a TFN | The bank withholds tax at the highest marginal tax rate. You can claim a credit when you lodge your tax return. |
| Foreign resident interest | 10% withheld if the bank has your overseas address; 47% if it does not |
| Account fees | Many everyday accounts have no account-keeping fee. Check ATM, international transaction, branch and cheque fees before you commit. |
| Last verified | 14 October 2026 |
Can you open an account before you arrive?
Sometimes, yes — but treat “yes” carefully, because what you get before you land is usually a started application, not a working account.
Several Australian banks offer an online application path aimed at people moving to Australia, where you can enter your details and get a decision in advance. In practice, though, you will normally need to complete identification in person at a branch once you are in the country, because the bank has to verify your identity documents and your Australian address. Policies differ between banks and change over time, so the honest answer is: ask the bank you are considering whether they will open an account for a non-resident who has not yet arrived, and what you would still need to do after landing.
What you can do before you fly, regardless of the bank:
- Get your visa grant notice saved somewhere you can access offline, plus a printed copy. If you are arriving to study, keep your Confirmation of Enrolment (CoE) handy too — it is the enrolment document your student visa is built on.
- Have a plan for an Australian address. A friend’s place, a share house or student accommodation all work better than a hotel, because the bank will want an address where you can receive mail.
- Decide which bank you want, based on fees and branch or ATM access where you will actually live — not on which one advertises most loudly.
The identity check: why banks ask for so much
The reason a bank asks for a passport, a visa document and an address is not bureaucracy for its own sake. Banks are required to identify their customers under Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws, which AUSTRAC supervises. Customer due diligence — knowing who your customer is — is a legal obligation, and the level of information a bank collects depends on the risk it associates with the customer.
On top of that legal obligation, Australian banks generally use a scoring system that many people know as the 100 point check. Different documents are worth different numbers of points, and you need to reach a threshold before the bank will open an account. A passport is normally the highest-scoring single document. Other documents commonly accepted — each with a lower score — include your visa grant notice, a birth certificate, a driver licence or photo card, a Medicare card, a utility bill or bank statement showing your address, and a tenancy agreement.
Here is the part to be careful about: banks set their own document lists and their own point values. There is no single government-mandated 100 point list that applies to every bank. So rather than memorising a list from a forum, do this:
- Ask the bank you plan to use for their current acceptable documents list before your appointment.
- Bring your passport and your visa grant notice — those are the two you will almost certainly need.
- Bring something that shows your Australian address if you have it, and ask what they accept if you do not yet have a lease or a bill in your name.
If you are newly arrived and have no Australian address history yet, expect this to be the one step that takes a conversation. Some banks will accept a letter from your employer, your education provider or your accommodation provider. Ask, rather than assume.
Resident or non-resident? What actually changes
When you open an account, the bank will ask about your tax residency. This is a legal question, not a visa question — holding a temporary visa does not by itself make you a foreign resident for tax purposes, and being an Australian citizen does not automatically make you a resident either. The ATO publishes the residency tests; if you are unsure, that is the place to check.
What your tax residency changes is how the bank treats the interest you earn:
- If you are a foreign resident for tax purposes, the bank automatically withholds tax from interest on your account. If you have given the bank your overseas address, the rate is 10%. If the bank does not have your overseas address, the rate is 47%. You do not include that interest as income on an Australian tax return.
- If you are an Australian resident for tax purposes, interest is part of your assessable income and you declare it. The bank will report the interest it pays to the ATO.
That 47% figure is not a penalty invented by the bank. It is the ATO’s stated outcome when a financial institution has neither your tax file number nor your overseas address to work with.
Your tax file number, and what it changes
A tax file number (TFN) is your personal reference number in the Australian tax system. Giving it to your bank is what stops your interest being taxed at the top rate.
The ATO is explicit: if your bank does not have your TFN, it will withhold tax from your interest at the highest marginal tax rate, and you can claim a credit for the amount withheld when you lodge your tax return. In other words, you are not permanently losing the money, but you are lending it to the tax office until you file.
You do not need to provide a TFN in a few narrow cases — for example, if you are under 16, the account is in your name, and the account earns less than $420 interest in the income year. For most adults moving to Australia, that exception will not apply.
How to get a TFN. The ATO’s online registration service for foreign passport holders, permanent migrants and temporary visitors is the standard route. Key points from the ATO:
- It is free. There is no charge to apply, and any website that charges you is a reseller, not the ATO.
- It takes about 20 minutes to complete online.
- You must already be in Australia to apply. You cannot do it from overseas.
- You need your passport or travel document details, and a postal address in Australia.
- The ATO sends your TFN by post, and it can take up to 28 days. If nothing arrives after 28 days, contact the ATO with your receipt ID.
If you start work before your TFN arrives, you can generally still start — your employer will give you a Tax file number declaration and you can indicate that you have applied. But apply early, and once the number arrives, give it to your employer, your bank and your super fund.
Big four banks versus digital banks
The choice matters less than the marketing suggests, but there are real differences. Here is what actually varies.
- Branch access. The big four — Commonwealth Bank, Westpac, ANZ and NAB — have branch networks and ATMs. Digital and online banks generally do not. If you will need to walk into a branch to complete identification, deposit cash or sort out a problem face to face, that difference is significant in your first few months.
- Account-keeping fees. Moneysmart’s advice is straightforward: compare monthly account fees, overdraft fees, international transaction fees, branch fees and cheque fees, and choose the lowest-cost account that suits how you actually spend. Plenty of everyday accounts have no monthly account-keeping fee.
- International transaction fees. If you will be sending money home or spending in another currency, this fee matters more than the monthly account fee. Moneysmart lists it as one of the key features to compare.
- Basic bank accounts. Moneysmart notes that if you receive a government payment or hold a concession card such as a Pensioner Concession Card, you may be eligible for a “basic bank account” with no account-keeping fees, free monthly statements, no minimum deposit and no overdraft fee. Eligibility is set by the bank — ask.
- Switching and data. Under the Consumer Data Right you have the right to share your banking data with other banks and service providers of your choice. You are not locked in, and Moneysmart recommends reviewing your account each year.
A sensible approach for most new arrivals: open one no-fee everyday transaction account wherever the identification process is easiest, get paid into it, and revisit the choice once you know how you actually use it.
Step-by-step: how to open an account
- Decide whether you want a branch near where you will live, or whether an online-only bank suits you. Check the fee list, not the sign-up bonus.
- Ask the bank for their current identification requirements and book an appointment if you need one. Ask specifically what they accept as proof of an Australian address.
- Gather your passport, your visa grant notice, and whatever address evidence you can produce.
- Complete the application — online before you arrive if the bank supports it, otherwise in branch or online after you land.
- Complete the identity check. This is the step that usually requires your physical documents.
- Answer the tax residency questions accurately. If you are a foreign resident, tell them your overseas address rather than leaving it blank.
- Apply for your TFN as soon as you are in Australia, and give it to the bank when it arrives.
- Set up online banking and a digital wallet, and check whether the account has a debit card and what it charges for overseas transactions.
Once the account is open, the next practical question is usually how to get money into it from overseas. That is a separate decision with its own costs — see our guide to transferring money to Australia.
Common mistakes
- Assuming there is one official 100 point list. There is not. Each bank sets its own documents and point values. Ask the bank, and bring more than you think you need.
- Leaving the overseas address field blank. If you are a foreign resident for tax purposes and the bank does not have your overseas address, interest is withheld at 47% instead of 10%. Tell them.
- Not applying for a TFN early. Without a TFN, the bank withholds tax from your interest at the highest marginal tax rate. You can claim it back later, but the cash flow hit is real, and the TFN letter can take up to 28 days.
- Applying for a TFN before you arrive. You must be in Australia to use the ATO’s online registration service. Wait until you land.
- Choosing on monthly fee alone. International transaction fees and ATM fees often cost more than the account-keeping fee you were trying to avoid.
- Using the wrong address. Your TFN letter is posted, not emailed. Use an address where post will actually reach you for the next month.
- Waiting until your first payday. If you are arriving on a sponsored work visa such as the Skills in Demand visa (subclass 482), your employer will ask for account details early. Sort the account in your first week, not your first pay cycle.
FAQ
Can I open an Australian bank account before I arrive?
Some banks allow you to start an application online before you land, but you will normally complete identification in person once you are in Australia. Policies vary and change, so confirm directly with the bank you are considering.
What documents do I need?
Expect to need your passport and your visa grant notice at a minimum, plus evidence of an Australian address. Beyond that, banks set their own lists. Ask your bank for their current acceptable documents before your appointment — especially about what they accept as proof of address if you have just arrived.
Do I need a tax file number to open an account?
No. You can open an account without a TFN. But if the bank does not have your TFN, it withholds tax from your interest at the highest marginal tax rate, which you can only recover by claiming a credit when you lodge your tax return. Giving them the number as soon as it arrives is the simpler path.
How long does a TFN take?
The ATO says the online application takes about 20 minutes, and that the TFN notification letter can take up to 28 days to arrive by post. You must be in Australia to apply.
Is it better to use one of the big four banks or a digital bank?
It depends on whether you need branches. The big four give you branches and ATMs, which helps in your first months when identification and cash deposits are easier to handle in person. Digital banks often compete on fees and app features. Compare the specific fees Moneysmart lists — monthly account fee, overdraft, international transactions, branch and cheque fees — rather than choosing on brand.
What is a basic bank account?
It is a low-cost account that Moneysmart describes as having no account-keeping fees, free monthly statements, no minimum deposit and no overdraft fee. It is generally available to people who receive a government payment or hold a concession card, and eligibility is set by the bank. Ask whether you qualify.
Official sources
- Investing in bank accounts and income bonds — Australian Taxation Office
- Online TFN registration – permanent migrants and temporary visitors — Australian Taxation Office
- Transaction accounts and debit cards — Moneysmart (ASIC)
- Banking — Moneysmart (ASIC)
- Your obligations — AUSTRAC
AU0061 publishes general information, not personal migration advice. Visa rules and fees change, and eligibility depends on your individual circumstances. Always confirm the current requirements with the Department of Home Affairs or a MARA-registered migration agent before you act on anything in this guide.