Editing Melbourne (section)

=== '''Choosing Bank Accounts''' ===
These are comments made by four CouchSurfers in September 2010. Terms and conditions may have be inaccurate or have altered.

* Are you a student? If so, ALL major banks will let you open up a student account, which is free of fees and charges. Some banks will require proof of study (i.e. current student card), but some will just take your word for it.
* [http://ingdirect.com.au/index.htm ING Direct] (it's an online bank) as they have NO FEES and they pay YOU to have an account but I think you have to be an Australian resident for tax purposes.
* ANZ & Commonwealth are all pretty on par. Keep in mind that you will need to provide an address from your home country, as well as an address in Australia. For most accounts, proof of address is not required. If you are applying for a credit card, a verified address and employment history is required (be prepared to be denied). When you are applying to open your account, you will need 2 forms of identification, unless you have entered the country less than 6 weeks before, so get onto it quick! You will be required to give a photocopy of your passport along with the immigration stamp confirming your arrival date. Opening banks in new countries is never fun..
* The BEST BANK isn't a bank, it's the credit unions. They have much better service usually.
* As of 2011, NAB accounts have no monthly fees.
* For the best interest rates (as of Feb. 2012), check out [http://www.couchsurfing.org/group_read.html?gid=707&post=11391354 this thread] in the Melbourne group.