Education & Employment

How to open a bank account

A bank account makes getting paid, using your money and getting savings together easier. To find the best account for you, follow the steps below.

Outcome

To open a bank account

Let's start with why it is important:

  • a bank account means it is easy for you to get paid and to pay bills
  • putting your money in a bank account will mean it is safe and it will help you to understand your financial situation

What to do next

Choose a bank

Here is a short list of some common Australian banks that provide low fee accounts, for more information contact the bank:

Commonwealth Bank offers a Basic Streamline account to Health Care and Concession card holders. This account does not have account keeping fees. This account comes with a debit card & app.

NAB offers an account with no fees either, their Everyday Banking Account has no fees. This account comes with a Visa Debit card & app.

When choosing a bank ensure you choose one with a good reputation, it might be a good idea to do research including asking friends, co workers and family.

More Information & Services

CALL CENTRELINK FINANCIAL INFORMATION SERVICES 132 300 (free financial advice from Centrelink)

CALL CENTRELINK INCOME MANAGEMENT 1800 132 594 (counselling service for ATSI peoples available 24/7)

CALL INDIGENOUS CONSUMER ASSISTANCE NETWORK (ICAN) 1300 369 878 (available 3pm - midnight everyday for LGBTI peer support)

Moneysmart

Offers free advice on managing your money

The Salvation Army Australia

Free financial advice

All Education & Employment