Moving to Australia for studies is exciting, but it also comes with practical decisions. One of the first things international students must do is open a local bank account. The right bank can make managing money easy, help you avoid unnecessary fees, and even support you with student focused benefits. Whether you’re arriving from India, Nepal, China, or Brazil, navigating banking in Australia doesn’t have to be hard. While this guide focuses specifically on student banking, international students are part of a broader group of newcomers to Australia. If you’re planning to transition from student to permanent resident status, or if you’re arriving with family members, you may also want to explore our comprehensive guide on how to choose the right bank in Australia for migrants,
What to Look for in a Student Bank Account
Here’s what matters most when you choose a student-friendly bank:
- Zero or low monthly fees
Many banks waive monthly fees for full-time students. Always check the conditions. - No ATM withdrawal charges
Make sure your bank has plenty of ATMs or free ATM access nationwide. - Easy online & mobile banking
A good app helps you track spending, transfer money, and top up your Opal or Myki card easily. - Global money transfers
Some banks offer fee-free international transfers or partner with services like Wise or PayPal. - Customer support for students
Many banks have multilingual staff or student support desks near universities.
Top 5 Banks for International Students in Australia
1. Commonwealth Bank (CommBank)
- Why it stands out: Australia’s largest bank, known for student-friendly onboarding.
- Student perks: No monthly fees for full-time students, award-winning mobile app, and early account opening before you arrive.
- Best for: Students who want to set up banking even before landing.
2. ANZ (Australia and New Zealand Banking Group)
- Why it stands out: Solid customer service and basic account options.
- Student perks: No monthly account service fee for students, decent global money transfer options.
- Best for: Students who want simple, no-fuss banking.
3. Westpac
- Why it stands out: One of the “Big Four” with global banking support.
- Student perks: Westpac Choice Student account has no monthly fee and offers 24/7 customer support.
- Best for: International students who want global banking network access.
4. NAB (National Australia Bank)
- Why it stands out: NAB Classic Banking account is free for all, not just students.
- Student perks: No monthly fees, strong local ATM network.
- Best for: Students who want to avoid fees with no fine print.
5. HSBC Australia
- Why it stands out: International focus and competitive foreign exchange.
- Student perks: Strong global network, competitive rates for international money transfers.
- Best for: Students transferring money from overseas regularly.
Banks Near Major Universities
In Sydney (e.g., University of Sydney, UNSW)
Most major banks have student advisors on campus or nearby.
In Melbourne (e.g., University of Melbourne, Monash)
Check NAB and Commonwealth Bank branches in the CBD—they cater heavily to students.
In Brisbane, Adelaide, Perth
Westpac and ANZ have strong student programs and multilingual support staff.
Banking Tips for International Students
- Bring the right documents: Passport, student visa, and enrollment proof are essential.
- Open an account online before arriving: CommBank and NAB offer this feature.
- Consider multi-currency cards: If you receive money from home often, check out HSBC Global Money or Wise card.
- Track spending: Use mobile apps to set budgets and get alerts.
From the OzMoneyTalks Community
“Coming from India, I wanted a bank that didn’t charge me for every little thing. NAB worked for me, simple and no monthly fees.”
— Riya, Master’s student, Melbourne
“I opened my CommBank account before arriving in Sydney. Super easy, and their app helped me top-up my Opal card and track bills.”
— Phuong, International student from Vietnam
Final Thoughts
Choosing the right bank can make your student life in Australia smoother, more affordable, and less stressful. Focus on no fees, good app support, and access to services that suit your international needs. At OzMoneyTalks, we’re here to help migrants and students simplify money matters, so you can focus on what really matters: your education and your new life in Australia. For students planning to stay in Australia for long-term after graduation, learn about transitioning to full migrant banking services for new Australian residents.
