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Discussion Starter · #1 ·
Hello All

I would like to know from expats their experience with Australian bank accounts both everyday accounts and savings accounts. Please share your good or bad experience and suggest for the best account option at present.

Regards

Faisal
 

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GOod question. I'm looking at that. Too much info to digest. Worse than DIY PR application.

1. Account fee? Any account with ATM access with no account fee?
2. Free but capped ATM withdrawals?
3. Presumably all accounts now have Internet Banking?

Most probably I think I'll just go with CommBank based on recommendation from one colleague. Westpac can go heck with their banana ad. See, I'm already starting to blend in OZ news :-D
 

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I'd say free with free ATM withdrawals would be ideal!!!

Why do we need to pay to get our own money?

These banks....
 

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I'm with St George for current account - St.George Bank - personal and business banking - transaction and savings accounts, home loans, credit cards and more.
It hardly pays any interest, we don't pay any fees since we have a mortgage with them, ATM withdrawals are free at St George or Westpac ATM's (but any where else there is a change). I have a visa debit card that I can use in the same places as a visa credit card. I do everything via internet banking.

I've been with them since 2004 (we set it up from the UK initially) and when I've looked at other current accounts they are all fairly similar and I've not found another one worth changing for (yet :)).

For savings accounts I use UBank (https://www.ubank.com.au) which has good saving rates (currently 5.62%) and if you put away $100+ a month gives you slightly higher interest rate.

Savings Accounts | Search & Compare the Best Savings Accounts at InfoChoice gives a list of savings and term deposit account but always check with the banks website too to make sure the details are accurate.

Hopefully some other members will add what they think of their banks so that you can some idea of what's over here.

Regards,
Karen
 

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Discussion Starter · #5 ·
I'm with St George for current account - St.George Bank - personal and business banking - transaction and savings accounts, home loans, credit cards and more.
It hardly pays any interest, we don't pay any fees since we have a mortgage with them, ATM withdrawals are free at St George or Westpac ATM's (but any where else there is a change). I have a visa debit card that I can use in the same places as a visa credit card. I do everything via internet banking.

I've been with them since 2004 (we set it up from the UK initially) and when I've looked at other current accounts they are all fairly similar and I've not found another one worth changing for (yet :)).

For savings accounts I use UBank (https://www.ubank.com.au) which has good saving rates (currently 5.62%) and if you put away $100+ a month gives you slightly higher interest rate.

Savings Accounts | Search & Compare the Best Savings Accounts at InfoChoice gives a list of savings and term deposit account but always check with the banks website too to make sure the details are accurate.

Hopefully some other members will add what they think of their banks so that you can some idea of what's over here.

Regards,
Karen
Hi Karen

I really value your comments when it comes to regarding Australia. Is there any particular reason why you didn't choose the so called big 4 banks?

Regards

Faisal
 

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Hi Karen

I really value your comments when it comes to regarding Australia. Is there any particular reason why you didn't choose the so called big 4 banks?

Regards

Faisal
Back in 2004 when we were living in the UK we bought property in Australia and used a mortgage broker. At that time the best mortgage for us was with St George and we set up the current account through them.

As I mentioned most of the big banks offer similar services and St Georges and Westpac are everywhere so ATMs are readily available. Until another bank comes up with something worth us changing for we'll stay with them.

The only thing I didn't like about St George was that they wouldn't give us a credit card in 2007 when we moved to Australia. Even though they had the money from our UK house sale in their accounts they wouldn't give us a credit card for $5000. I don't know what they are like now and we still haven't bothered getting a credit card.

Regards,
Karen
 

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Hey " Kaz101" , thank you very much for your precise info on Aussie banks...this is really worth reading for new movers like us..
 
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