Relocate to Australia FAQ - Part 3

How do I open an Australian bank account?

You can open an account in person with major banks like Commonwealth Bank, Westpac, NAB, or ANZ. You’ll need:

• Passport

• Visa details

• Proof of address (if applying in person)

Can I open an Australian bank account before I arrive in Australia?

You can open a Commonwealth bank account online 14 days prior to your arrival, however you must activate it at a branch in person when you first arrive, and you can’t use it until it is activated.

What are the opening hours of Australian banks?

Australian banks are generally open 9am to 5pm, Monday to Friday. Some branches are open on a Saturday from 9am to 1pm.

We recommend landing in Australia during the week if possible, so you can open your Australian bank account straight away when you arrive. If you arrive on the weekend, you’ll likely have to wait until Monday when they open.

Do I need an Australian Tax File Number (TFN) to work?

Yes, a TFN is essential for working legally and paying the correct tax rate. You can apply for a TFN online through the Australian Taxation Office (ATO).

What’s the minimum wage in Australia?

As of 2024, the national minimum wage is AUD $23.23 per hour or $882.80 per week for full-time work. Some industries have higher minimum wages under enterprise agreements.

How much do utilities (electricity, water, internet) cost?

Utility costs vary depending on the size of the household and usage, but generally fall within the range of:

• Electricity & Gas: AUD $100–$300 per month

• Water: AUD $10-30 per month (sometimes covered by landlords)

• Internet: AUD $60–$120 per month

• Mobile Phone Plan: AUD $30–$80 per month per phone

What’s the best way to transfer money to Australia?

Services like Wise, OFX, Revolut, or PayPal often offer better exchange rates and lower fees than traditional banks.

We recommend our clients open a Wise account before they move for ease of payments.

Are there hidden costs I should be aware of when renting?

Yes, extra costs include:

• Bond (4-6 weeks’ rent, depending on the state)

• Utilities (electricity, gas, water, internet)

• Contents insurance (optional)

• Furniture and appliances (if renting unfurnished)

Moving to Australia doesn’t have to be complicated. From navigating the complexities to securing a rental - we’re by your side every step of the way.

Get in touch today to see how we can make your move simple, seamless and stress-free.