If I was to transfer some money to an Aus account, which bank would you guys recommend? Did anyone wire money over to an account that they opened while still at home? Or did you just get a bank draft and open an account after arriving??

I'm not overly sure on the overseas transfer side of it all, but when you get here I'd recommend you join up with a credit union if they meet your needs. The 'big banks' here (Commonwealth, Westpac, National etc) all love charging frees, where the credit unions tend not to.

My two cents.

David

Originally posted by markdc
If I was to transfer some money to an Aus account, which bank would you guys recommend? Did anyone wire money over to an account that they opened while still at home? Or did you just get a bank draft and open an account after arriving??

Wiring money from Canada will cost you a lot of money at least $30 per pop. I have RBC and CIBC back home and I've found that CIBCs rates were more competitive. The best thing to do would be to wire a large amount all at once.

As for the banks My housemates use Westpac and I personally use Commonwealth. If you plan on doing internet banking to pay your bills both are equally good. Commonwealth and Westpac both have deals that allow you to sign up for no fees banking as a student. However you will have to go and change your plan to a student plan once you get to Australia; you can't do this from Canada. You will also have to get yourself a tax file number from the DIMIA office.

I'm sure ANZ has some kind of student deal as well. I just find there aer more commonwealth banks here but in Queensland the situation could be a lot different.

Choose a bank with a physical location closer to your university as in the first year you will probably have a lot of banking issues that require the help of a teller; also banks offer the most competitive exchange rate something that is important when you have a sagging looney.

Best of luck.

Originally posted by DrBlaze
I'm not overly sure on the overseas transfer side of it all, but when you get here I'd recommend you join up with a credit union if they meet your needs. The 'big banks' here (Commonwealth, Westpac, National etc) all love charging frees, where the credit unions tend not to.

My two cents.

David

I would not join a credit union.

Join either the Commonwealth bank or National Australia Bank, they are the largest banks with the most automatic Tellers.

When you apply for the acount you simply need to provide proof you are a Student and all the account fees etc are not charged.

If you withdraw cash from the banks own ATMs then you will not be charged, however if you use a for instance you have a CBA account and you use a non CBA automatic Teller, then you will be charged approx $1.25 to withdraw money.

The problem with credit unions is there are far few ATMs around, as opposed to the big banks, so if you cant find a branch of the credit union or ATM, then you will be paying everytime you withdraw cash.

The big banks are much more convient with many more braches and ATMs.

Just a point on that, I use my credit union card with all and any ATMs around and I've never been charged fees for using another institutions ATM.

David