The best banks in Australia for international students

Choosing to study in Australia is exciting, but it also means setting up practical things fast—like a bank account. The right account can make everyday life easier, help you avoid unnecessary fees, and support smart budgeting.

This guide walks you through what to look for and highlights five banks that international students commonly consider in Australia today.

What to consider before you choose a bank

Look for an account that:

• Supports international money transfers and foreign currency transactions, ideally with clear, transparent fees.

• Reduces or waives common account charges (for example, monthly account-keeping fees when you’re a full-time student or under a set age).

• Offers strong mobile and online banking, plus card compatibility with Apple Pay/Google Pay.

• Includes budgeting and spend-tracking tools to help you plan for tuition, insurance, rent deposits, transport, and setup costs.

• Provides basic financial education and clear guidance on using Australia’s banking system and taxes.

Tip: Compare at least four options side-by-side. Focus on fee waivers, international transfer costs, ATM access (at home and overseas), and app features.

The top banks that international students look at in Australia

Always check each bank’s current eligibility, fees and conditions from the official sites before you apply. Policies and offers can change.

1) Westpac

Westpac is one of Australia’s major banks and has long catered to students and new arrivals.

Why students consider it

• $0 account-keeping fee when you’re a full-time tertiary student or under 30 on the Westpac Choice account. You can open an account after you arrive and get set up quickly.

• Open from overseas timing: Westpac indicates Choice is designed for people who’ve arrived in the last 12 months, and student fee waivers apply while you study.

• Global ATM access: Westpac participates in the Global ATM Alliance. You won’t pay Westpac’s ATM withdrawal fee at Alliance ATMs overseas (foreign transaction fees may still apply).

• Mobile features: Apple Pay support, spending tools, and strong app functionality are standard across everyday banking pages (specific features vary by product page).

Good to know: A foreign transaction fee (typically 3%) can apply on overseas withdrawals even when the Alliance waives the ATM operator fee. Check the latest Westpac fee schedule before you travel. 

2) ANZ

ANZ is another major with broad branch and ATM coverage and simple, student-friendly settings.

Why students consider it

• ANZ Access Advantage is the everyday transaction account; under-25s and full-time students can qualify for no monthly service fee.

• Savings options like ANZ Progress Saver or ANZ Online Saver can link to your everyday account for easy transfers and goal-based saving.

• ANZ Visa Debit works worldwide where Visa is accepted, with mobile wallet support.

Heads-up: ANZ offers multiple everyday account options (including ANZ Plus). Compare fee conditions and international transaction costs before you choose. 

3) Commonwealth Bank (CommBank)

Australia’s largest retail bank, with an extensive branch and ATM footprint and a polished mobile app.

Why students consider it

• Everyday Account Smart Access with no monthly fee if you meet conditions (for example, you’re under 30, or deposit a set amount each month).

• Student-focused information for newcomers, including opening an account and student offers.

• Useful app tools like Spend Tracker, Bill Sense and real-time notifications. Fee-free withdrawals at CommBank ATMs.

Note: CommBank details promos from time to time (for example, transport cashback windows). Always read the current product page and rates & fees page for the latest terms. 

4) NAB (National Australia Bank)

NAB is a major bank with practical guidance for international students and a no-frills everyday account.

Why students consider it

• NAB Classic Banking has $0 monthly account fee, digital wallet support, and app budgeting features. An international transaction fee may apply for overseas card usage.

• International student pages explain how to open and use your account when you move to Australia.

5) HSBC Australia (Everyday Global Account)

HSBC isn’t one of the “Big Four,” but its Everyday Global Account is popular with internationally mobile students thanks to multi-currency features.

Why students consider it

• Hold and spend in up to 10 currencies, with no monthly account fee and $0 HSBC transfer fees for international transfers (exchange rates and third-party/ATM operator fees can still apply).

• Open before you arrive from selected countries and link to a Visa debit card that works in 200+ countries and territories.

• Multi-currency management in-app and broad global network support.

Opening your account: ID checks and timing

Australian banks must verify your identity under anti-money-laundering rules. Many still refer to the “100-point check,” though most now support electronic verification through passports, driver licences and other documents. Expect to provide multiple forms of ID, and be ready to verify your Australian address once you’ve settled. 

If you’re planning ahead, some banks let you start the process before you arrive (then finish verification in person or online after landing). Check the international student pages for the bank you choose. 

Smart money tips while you study

• Build a simple budget. List your expected income (savings, family support, part-time work) and expenses (tuition, OSHC, rent, food, transport, set-up). Use your bank’s app tools to track spending.

• Watch international fees. Compare foreign transaction fees, ATM withdrawal fees overseas, and transfer costs. Westpac’s Global ATM Alliance can reduce overseas ATM withdrawal fees, but foreign transaction fees may still apply.

• Use alerts. Turn on notifications for card transactions and upcoming bills to avoid late fees and overdrawing.

• Keep documents handy. Save digital copies of your passport, visa, Confirmation of Enrolment (CoE) and local address proofs for quick verification with your bank.

For international students in 2025, everyday banking in Australia is straightforward once you compare fee waivers, international features, ATM access, and app tools. Westpac, ANZ, CommBank and NAB are widely used majors with student-friendly settings, and HSBC’s Everyday Global Account is a strong multi-currency option. Your best fit depends on how you’ll spend, save and transfer money day-to-day.

FAQs

This guide is for general guidance only. It does not constitute an endorsement of any bank or bank account mentioned. Always check each bank’s latest terms, fees and eligibility before applying.