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Discussion Starter #1
Hi All,

Thank you in advance for your suggestions.

We are moving to Sydney in the last week of December and I shall be opening an new account. Google has provided names like ANZ, Commonwealth, NAB and Westpac.

It will help to know your thoughts and experiences of these banks have following:

1: better in-person service
2: better mobile application
3: better Fund Transfer / money repatriation rates
4: Quick loan approval (for car loan or housing loan in future)
 

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Hi All,

Thank you in advance for your suggestions.

We are moving to Sydney in the last week of December and I shall be opening an new account. Google has provided names like ANZ, Commonwealth, NAB and Westpac.

It will help to know your thoughts and experiences of these banks have following:

1: better in-person service
2: better mobile application
3: better Fund Transfer / money repatriation rates
4: Quick loan approval (for car loan or housing loan in future)
1. Other then your first visit to do the know your customers formalities, you will never visit the branch again
At least in my last several years despite having a housing loan, I have never visited a branch
Every thing is done online

2. All banks have similar interface
It all depends on your personal choice

3. All banks will cost you an arm to repatriate money abroad
Use TransferWise or something similar

4. Loans depend on your repayment capacity.
No bank is good or bad in giving loans
They earn when they lend

All the above are very general information
Please do your own due diligence before proceeding

Cheers
 

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NAB does not have monthly maintenance fee. Other banks please check
 

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Some banks allow you to setup an account before you land, that can be a good option to get started so you can get paid (eg Commonwealth, HSBC)

Most already do but it’s best to make sure they support bPay. You also want NPP Faster payments and PayID which should make paying other bank accounts instant.

Some online only banks don’t quite support all of this just yet so do your homework.
 

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I've had very good experience with Westpac and was able to open my account offshore before arriving. The first year is free then it is $60/yr ($5/ month) which personally I think is a rip off.

I would suggest looking for a free account with one of the other majors if you are not doing a lot of in-person stuff. If you are ok to pay the fee then Westpac for sure.
 

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Hi All,

Thank you in advance for your suggestions.

We are moving to Sydney in the last week of December and I shall be opening an new account. Google has provided names like ANZ, Commonwealth, NAB and Westpac.

It will help to know your thoughts and experiences of these banks have following:

1: better in-person service
2: better mobile application
3: better Fund Transfer / money repatriation rates
4: Quick loan approval (for car loan or housing loan in future)
I was an expat in Sydney for 14 years. I still use Commonwealth for business banking and ING (online only bank) for personal. I have used St George (now owned by Westpac) and ANZ. ING debit card is perfect for overseas spending and ATM withdrawals. ATM fees refunded and pretty much the mid market rate offered.

I wouldn't use a bank to transfer money in or out of Australia. Use a specialist money transfer company.

Where are you currently living or where are you moving from?
 

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I came from Middle East here and was shocked to see the status of online banking in Australian banks, like I've travelled back 20 yrs in time.

ANZ mobile app for example is atrocious, no notifications about anything possible. Can't even get message when I get something paid in to my account which was like pretty standard in UAE for any transaction on your account if you wanted it.

I also have Westpac account...they still have like 5 character maximum long passwords... in 2020?!?! At least their mobile app has ample more information available and services but still, a sad state of IT here really.

Maybe others are better... ING being an online only option?
 

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Discussion Starter #8
I was an expat in Sydney for 14 years. I still use Commonwealth for business banking and ING (online only bank) for personal. I have used St George (now owned by Westpac) and ANZ. ING debit card is perfect for overseas spending and ATM withdrawals. ATM fees refunded and pretty much the mid market rate offered.

I wouldn't use a bank to transfer money in or out of Australia. Use a specialist money transfer company.

Where are you currently living or where are you moving from?
Thanks GavanSmythe.

It seems Westpac seems to be common suggestion but has a service fee of $5. Is there a Family account that ways, we shall have 1 account between me and my wife?

We are currently living in Qatar and are moving to Sydney in last week of December.
 

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Thanks GavanSmythe.

It seems Westpac seems to be common suggestion but has a service fee of $5. Is there a Family account that ways, we shall have 1 account between me and my wife?

We are currently living in Qatar and are moving to Sydney in last week of December.
Hi. We are also here in Qatar and with plans to move wheN restrictions are lifted. We opened an account with ANZ. Our initial money transfer from CBQ to ANZ has no issues. So I would recommend ANZ.





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