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Opening an Bank Account


louiecw

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Hi,

I opened an ANZ account via snail mail about 2weeks ago. I have not heared from them yet. How long do they take to get back to you? I would like to start transferring money into this account but I don't know if this account is open? How do I inquire about this? :(

Also, how difficult is it to get a Credit Card in Aus on a 457 long stay visa. If it comes down to how much funds you transfered into your account, can someone provided me with a ball park figure? :blink:

Thanks

Clint

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Hi,

I opened an ANZ account via snail mail about 2weeks ago. I have not heared from them yet. How long do they take to get back to you? I would like to start transferring money into this account but I don't know if this account is open? How do I inquire about this? :(

Also, how difficult is it to get a Credit Card in Aus on a 457 long stay visa. If it comes down to how much funds you transfered into your account, can someone provided me with a ball park figure? :blink:

Thanks

Clint

Hi Clint

We also sent the application form to ANZ about a week ago , but have not heard anything yet. I believe it takes around 10 days/two weeks to get to Australia. Once there they will either email/post your bank account details to you.

Please let me know if you do get a response?? We are alos eager to transfer funds accross asap, before the rand losses more value!!

Unfortuntaely I do not know much about a credit card, but would also appreciate any information anyone has.

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Hi Guys,

Sorry can not help you on the e-mail applications. We opened our accounts when we got jobs, and that took all of 30 minutes at ANZ if you have your passport and another photo id like drivers license or ID book and some prove of where you stay, in our case the studio apartment bill was fine. In regards to the transfer of money, how do you intend to do that because both Nedbank and Thomas Cook almost had hart attacks when I asked for forex and some money transferred to Aus with only one way tickets to show?

Know of a couple here whose house was sold in SA and they are also struggling to get the money out, so maybe you should just pack a big suitcase.

Let us know if you find out about anything.

Cheers.

WoOzz

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:blink: Hint Hint, They should take that suit-case as carry-on luggage :( Edited by louiecw
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I'm just throwing a rock into the bush here:

Is it true that you have to transfer money into the account that you opened via internet from SA within 90 days?

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I'm just throwing a rock into the bush here:

Is it true that you have to transfer money into the account that you opened via internet from SA within 90 days?

Not that I am aware of. You can open the account and once you arrive in Australia, you will need to Deposit money into the account once you identify yourself. Some accounts want a min balance, but you do this when you arrive is Australia

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  • 2 weeks later...
Not that I am aware of. You can open the account and once you arrive in Australia, you will need to Deposit money into the account once you identify yourself. Some accounts want a min balance, but you do this when you arrive is Australia

On this note,

I opened a bank account while in SA with the Commonwealth Bank . It got feedback within a week and I phoned the guy in Perth where he provided my bank account details.

They required a min balance to keep the account open . , It was about 90 days .

Luckly I had family in OZ who did a payment into the account.

For interest , a person can transfer R30000 to an overseas account per year . just say it is a gift .

Then you need a few friends who can do it for you .

I used a few friends to get mony in OZ for my Assurance of Support on my Visa.

Otherwise you need to apply with SARS to transfer more money .

:ilikeit: The Big suitcase sounds a good idea , just hold thumbs that they do not take your case at the entrance fo the plane becaus it is too big , etc... :whome:

Jan

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Hi Guys

Just a stab in the dark here - why can't you exchange some of your money before you leave (a travel allowance) and then transfer the balance into your South African credit card and use that when you arrive in Aus? Surely you can draw money at the Aus ATM's from your credit card or make withdrawals - or am I just being naive? Something I've been wondering about as well!

Responses to that question would also be appreciated - you guys in Aus know how everything works.

Thanks!

Marcia

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Romar, I believe its becuase of the costs involved to draw money on a credit card from an ATM in Oz. You might look at a Foreign investment to save costs.....

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It worked us out about R65 for every A$500 we withdrew form the ATM, but not to sure either becuase dear old Nedbank had charges on there that still can not be explained to me. Add to that the fact that it is expensive to live in Aus on Rands, I would suggest get a job as quickly as possible and negotiate with your employer for a salary after the first 2 weeks (they did help us with this). Get living from on the dollars as quickly as you can.

...by the way I do not think that suitcase is big enough :D .

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  • 2 weeks later...

TIP

If you want to open an account when you arrive do it within the first week of arrival, that way you only need your Passport, there is a short period of grace before they hit you ith needing 100 point identification

...by the way I do not think that suitcase is big enough ;) .

I dont think the size of the suitcase is the problem its the weight limit on hand luggage remember only 7kg of hand luggage.

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  • 1 month later...

Hi there

We phoned NAB and opened a bank account while on the phone, got the account number same time. Just waiting for the 457 visa to be approved and will then transfer the travel allowance electronically. Only problem is that you can only transfer your own allowance into the bank account, unless it is a joint account. The allowance taken for the kids can't be transfered and will have to be taken as travellers cheques....

Will still have to activate the account with our passports when we arrive. Strange thing is that they only wanted our names and date of birth - no pasport details at all..

regards

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  • 2 weeks later...

Hi

Since July 2007 you can now open a bank account with westpac online at the following url:

Westpac Online Migrant Banking

It is part of their migrant banking option.

I think we will make use of this when we are ready to transfer our funds over.

If anyone who already banks with then can give any feed back on how they find westpac's service, I would really appreciate it!

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Can you not ask for a debit order on your SA credit card number from your new OZ bank account? Let the debit order run once a month until the funds are depleted. Keep transferring money to you credit card every month to satisfy the debit order amount. OZ debit order amount = max withdrawal on your credit card for the specified period.

Possible?

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