Finance and onboarding in Australia

 

Open a bank account

You can open a bank account in Australia up to 14 days before you arrive in Australia, or within 12 months after arriving.

Once you’re in Australia, visit any brank branch where you’ll need to provide identification documents and tax residency details to activate the account.
Popular banks include: 

• Commonwealth Bank
• ANZ Bank
• Westpac Banking Corporation
• National Australia Bank

 

Tax File Number

Australia has a national identity number system for tax purposes. This is called a Tax File Number, or TFN. Find out more information about applying for a TFN here.

 

Superannuation

Australia has superannuation (‘super’) arrangements in place to enable the accumulation of funds for retirement. It is compulsory for employers to make super contributions for their employees at a minimum of 11.5% on top of employees’ wages and salaries.

Find out more about what is super.

 

Register a phone number

Mobile providers include Vodafone, Virgin, Telstra and Optus in Australia. It’s worthwhile checking their coverage to be sure it suits your lifestyle and travel.

To set up a phone number, you'll need to purchase a prepaid SIM or choose a postpaid plan, then activate it online or in-store, providing necessary details and a valid form of ID.