Australia has a variety of financial options, from national banks to local credit cooperatives and building societies. Here are some tips I have compiled about setting up an Australian bank account.

You can open a bank account before or after you arrive in Australia.

To open an account, you need your electronic registration confirmation (eCoE), passport, admission notice and other valid identification documents

You may also need an Australian tax file number (TFN). You can find information about obtaining TFN on the website of the Australian Taxation Bureau.

the financial/student support staff of your university or college will tell you how to open a bank account.

you can also read the advice from the website of the Australian government's money smart.

Australian dollar value

The basic unit of Australian dollar is Australian dollar. One Australian dollar equals 1 Australian cents. The face value of Australian dollar is from 5 yuan, 1 yuan, 2 yuan, 5 yuan and 1 yuan. The denominations of coins are 5 cents, 1 cents, 2 cents, 5 cents, from 1 yuan and 2 yuan.

in shops and supermarkets in Australia, prices are rounded up to 5 cents. For example, if the price is $1.97, you will pay $1.95, while if the price is $1.99, you will have to pay $2.

financial management methods

You can withdraw money from ATMs that can be found everywhere in Australia. Generally speaking, it is free to withdraw money from the ATM corresponding to your Australian bank card. Please note that if you use other providers' ATMs to withdraw money, you will usually be charged a certain fee. The automatic withdrawal machine will remind you of the specific cost when you withdraw money.

Even if you didn't open a bank account before going to Australia, most ATMs can recognize international cards, so you can use your own country's credit card or debit card. Just remember, you have to deduct relevant fees from your family account, including transaction fees and currency exchange rate fees. These are different from bank suppliers, so check with your family financial supplier before you arrive in Australia.

transfer funds overseas or Australia

Australian banks provide various services for capital transactions. However, all these services are subject to service charges.

You can transfer funds from overseas banks to your Australian bank account electronically. To send money to another country, you need to provide the bank information of the person you want to send money to. Then, your financial provider will transfer funds from your account to their account electronically.

Banking Ombudsman

The Australian Banking and Financial Services Ombudsman assists individuals and small businesses in resolving complaints about all financial services provided by banks. For example, for example, you find that money has been withdrawn from your bank account without your consent. In this case, in order to solve this problem, you may need to talk to the banking inspector.