The banking system in Australia operates efficiently and has a good reputation. All banks have large customer service departments and policies that aim to deal with customer queries and complaints quickly.

If you wish to open a bank account in Australia you will find that this is a fairly straightforward process and there are many banks to choose from. As an expat you will need to produce a certified copy of your passport, proof of your address in Australia and bank statements which cover the previous three months. If you have been in the country for some time then you may have to go through the ‘100 point system’ which proves your identity. This means that you get a certain number of points for different types of documentation. A birth certificate, passport or citizenship certificate can earn you 70 points while a photo ID can earn another 40 points. Other acceptable pieces of ID that can earn different points amounts include Medicare cards and utility bills. A full list of documentation which can be accepted will be available from the bank.

When you choose a bank you will find that both local banks and international banks are happy to open accounts for expats. Most will be able to help you to open an account before you arrive in the country but you will need to make enquiries about this as some would prefer you to be in the country when you open the account.

Accounts available range from standard current accounts for everyday banking to savings accounts that can only be accessed a few times a year in order to achieve the highest rates of interest. If you need to apply for a loan or a credit card most banks will want to be able to check your credit rating, although there are some banks which have special services for expats and will take into consideration the credit rating that you have in your own country. You will be required to complete forms or go through an application with a customer service advisor at the bank. You will need to provide proof of income for both credit cards and loans.

Local banks that you could consider include the Commonwealth Bank of Australia. This bank can help you to set up an account before you move to the country. There are more than 1000 branches in Australia and the services offered include telephone and internet banking. There is multilingual customer service staff and it can take as little at 48 hours to open an account. Alternatively you can opt for the Westpac bank, which has dedicated teams to help those who are moving to Australia from another country. Westpac offer a range of services to expats including a credit card, no monthly fee for accounts for the first 6 months and a range of accounts to suit your needs. Those who need a mortgage can make an application to Westpac and there is help to transfer your UK pension to an Australian one.

There are many other banks to choose from and you may want to consider other local banks such as Bank of Queensland, National Australia Bank and St George Bank Limited. In addition there are many international banks including Bank of China, Bank of Cyprus, Deutsche Bank, HSBC, Barclays, Credit Suisse and HBOS.

Banking hours are usually between 9.30 am and 4 pm from Monday to Thursday, although most banks will open until 5 pm on a Friday. In the cities you may find that some branches are open on a Saturday morning.

The use of debit cards is popular in Australia and supermarkets and petrol stations offer a ‘cashback’ facility when you purchase goods, so that you can withdraw money without the need to go to an ATM. Some outlets operate simply to take payments for goods and do not operate a cashback facility. ATMs are widely used throughout the country and these can be found in all shopping areas, at all banks and at other locations including petrol stations. Some banks may charge you if you withdraw cash from ATMs of another bank although most machines will accept cards issued in another country.