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Apply for an Australian Bank Account


ShannonE

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Hi All

I have just opened an Oz bank account from SA, thanks to the advise on this forum.

I went with NAB beacuse thier website did not crash unlike Wespac :blush: .... and Nedbank also uses NAB as an Oz bank to transfer your funds.

You will get an letter with your bank account number (via email) and all other details 2 days afer applying.

Home Page https://www.nab.com.au/

Direct link https://www.nab.com.au/wps/wcm/connect/nab/nab/home/personal_finance/15/23/1/2

So a question to all the members already in Oz....which bank would you recommend and why.

Cheers

ShannonE

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That's awesome because I was going to go with NAB anyway and I am with Nedbank as well. :ilikeit:

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From Ned to Nab ... LOL

@AndreR .....contact below :whome:

Suzette Steyn | Manager | Outward
Telegraphic Transfers and Global Investment Centre

Cape Town Global Business Centre |
Corporate Shared Services Division

Nedbank Cape Town | Office: +27(0) 21 412 3935
(recorded line)

Fax: +27(0) 21 412 5569 | E-mail:
suzettest@nedbank.co.za | web address: www.nedbank.co.za



Edited by ShannonE
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That's awesome because I was going to go with NAB anyway and I am with Nedbank as well. :ilikeit:

From Ned to Nab ... LOL

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Before transferring your funds from Nedbank to Nab, I suggest you obtain a no-obligations quote from Cashkows to transfer your funds for you.

They will definitively give you a better exchange rate than the High Street banks - do yourself a favour and just do the check, banks will generally screw you over with the pegged exchange rate at date of transfer.

I am in the process of transferring funds and see how expensive the banks are, I am using Cashkows and saving.

Edited by Bradporter
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Cool, will do thanks. :) Need to do some research .... what about Western Union?

Thanks

Shannon

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ShannonE, how easy was it to open an account from SA? Can you do it without much hassle even if you dont have an Aus address etc?

We're looking into this now and would appreciate some advice.

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Opening an account is as easy as 123. With most banks you will need to identify yourself within 12 months. We opened an account this week as well with BankWest, they gave us a no time limit to identify ourselves, which suites us best as we do not know yet when or where in Australia we will be going. Only drawback with opening an account from overseas is that you can deposit money but cannot transfer funds out or withdraw your deposited funds until you have identified yourself in person.

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Does anyone have experience with the 100 point check (http://en.wikipedia.org/wiki/100_point_check)?

We would like to open an account on a visa activation trip and also activate the account at the same time, but it does not seem if you will be able to get the 100 points if only visiting?

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Got my Internet banking details from Nab yesterday, logged on and it works 100% ....pity the balance is 0.00.

Shannone

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Thank your lucky stars it's not in a debit balance.

Also check and see if you get free banking for a period before you start paying bank charges.

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Does anyone have experience with the 100 point check (http://en.wikipedia.org/wiki/100_point_check)?

We would like to open an account on a visa activation trip and also activate the account at the same time, but it does not seem if you will be able to get the 100 points if only visiting?

You get 70 points for your passport - 25 for marriage certificate and or birth certificate and another 25 for a copy of your credit card - there are your points you need - This is what I ask people for that dont have all the necessary Australian ones - (I am a mortgage broker and we need 100 point ID all the time) - Make sure you have copies of these that you can leave with the bank and take the originals with you )

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  • 2 weeks later...

Hi all, if anyone needs any help, please let me know. I work for ANZ and am happy to answer any questions you may have. You can contact me directly at clare.kruger@anz.com

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Does anyone have experience with the 100 point check (http://en.wikipedia.org/wiki/100_point_check)?

We would like to open an account on a visa activation trip and also activate the account at the same time, but it does not seem if you will be able to get the 100 points if only visiting?

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Hi there. As long as you go to the bank within 6 weeks of your arrival stamp in your passport, that will be considered 100pts of ID. After 6 weeks, it reverts to 70pts

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So can I open up a bank account now ? and which bank would you recommend ? We're still in RSA but would like to be in Aus by end of the year. and how do you transfer funds to the account ?

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As I work for a bank, I would be a bit tunnel visioned on my recommendation, that being said, I would highly recommend my bank. Might leave that to the others. You can send funds with your SA bank via Telegraphic Transfer. Others on here are talking about cashcow or some such thing. I don't know much about that I'm afraid. Choose te safest option.

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Check www.canstar.com.au independently reviews and rates financial products.

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Never mind...

Edited by HansaPlease
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So can I open up a bank account now ? and which bank would you recommend ? We're still in RSA but would like to be in Aus by end of the year. and how do you transfer funds to the account ?

Check out www.cashkows.org (Cape Town based)- i'm currently using them, they can facilitate the transfer of your funds at better rates than the high street banks, facilitate with transferring RA's, pension funds, final tax returns.

If you do not have an Oz bank account, they will facilitate with that as well.

Check them out, they have certainly made my life easier.

Edited by Bradporter
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