Australian Banks - where do you put your money?

staycool

@stolich18 and @TasBurrfoot thanks...

staycool

sa CBA po ba, both ang SMART ACCESS ACCOUNT and GOAL SAVER ACCT may ATM po bang ibibigay sa inyo??

Only smart access account has an ATM; ang goal saver is an internet based account meaning you can directly get physical cash from it - if you want to withdraw your money from the goal saver account, you need to transfer it first to another account with atm.

Hope this helps @staycool!

thanks...follow up question...may compensating balance po ba ang GoalSavers Account?...and may maintaining balance?...how about sa Smart Access account?..

pwede po bang mag-open sa both savings account and, as uve said, dapat sa GoaldSavers account ay magttransfer sa isang "with-atm" account in order to withdraw ur money, say sa smartaccess account pwede magtransfer online to withdraw???

stolich18

^ walang balance na kelangan imaintain sa Goal Savers from what I know. hehehe Sa smart access walang maintaining din BUT you have to always deposit 2K AUD per month, otherwise may charge na 4AUD.

Yes pde ka mag-open both and pdeng pde magtransfer online to withdraw, real-time. Naexperience ko yan, naubusan ako ng pera sa smart access and may binili ako non at wala akong cash. hahaha So at that instant nagtransfer lang ako ng money from Goal Savers to Smart access using my mobile phone. But then syempre as much as possible dapat wag bawasan ang ipon. hehehe For emergency lang naman pag minsan. Pde kaseng gawin mo rin, ilagay mo lagi lahat ng funds mo sa goal saver para kumikita ang pera mo pag di mo naman kelangan ng cash on hand. magtira ka lang ng 100AUD or below sa smart access para lang in case may kelangan ka bilhin or kelangan mo magwithdraw

staycool

thanks @stolich18 sa info...btw, since wala namang maintaining balance ang sa smart access and goalsaver, ibig sabihin pwede mo ubusin at automatic namang nag-c-close ang account mo dun, ayt?..parehas ng mga banks natin dito na kapag winithdraw lahat ng pera, automatic close after a certain period...

TasBurrfoot

thanks @stolich18 sa info...btw, since wala namang maintaining balance ang sa smart access and goalsaver, ibig sabihin pwede mo ubusin at automatic namang nag-c-close ang account mo dun, ayt?..parehas ng mga banks natin dito na kapag winithdraw lahat ng pera, automatic close after a certain period...

Pwedeng pwede... Pero just wondering bakit mo i-close yung account diba? Ehehehe!! B-)

Obi

Hi guys. After creating online an au bank account, karamihan dito wire transfer or bank to bank ang ginagawa para makapagdeposit dun sa account. Pwede rin ba cash deposit? Anz lang ba dun sa big 4 ang merong branch dito sa pinas? Thank you.

Ps: yung westpac pala kapag nilagay mo sa dulo yung letter s ay magiging wetpacs. Joke lang po.

TasBurrfoot

Hi guys. After creating online an au bank account, karamihan dito wire transfer or bank to bank ang ginagawa para makapagdeposit dun sa account. Pwede rin ba cash deposit? Anz lang ba dun sa big 4 ang merong branch dito sa pinas? Thank you.

Ps: yung westpac pala kapag nilagay mo sa dulo yung letter s ay magiging wetpacs. Joke lang po.

You are looking at depositing cash in the ANZ branch in the Philippines for your Australian Bank Account?

Di ito pwede... For the simple reason that, iba yung ANZ Branch in Manila at yung ANZ Branch say in Melbourne. They don't belong to the same country and most definitely they don't share the same books.

Obi

Oh, akala ko centralized ang system nila. Idedeposit ko sana yung ibang AUD dun sa iiemail nya na account number from the online application para konti na lang sana ang dala ko sa airport. Thank you.

dakz

Opened an online account with NAB last Sept1, but upto to now haven't received any confirmation calls from them 4days kasi nkalagay sa email na mgcontact sila ulet.

TasBurrfoot

Opened an online account with NAB last Sept1, but upto to now haven't received any confirmation calls from them 4days kasi nkalagay sa email na mgcontact sila ulet.

Patience is a virtue bai...

Anyhow, check your SPAM. It might have been redirected there. I got mine kasi within the day I opened.

dakz

@TasBurrfoot

Opened an online account with NAB last Sept1, but upto to now haven't received any confirmation calls from them 4days kasi nkalagay sa email na mgcontact sila ulet.

Patience is a virtue bai...

Anyhow, check your SPAM. It might have been redirected there. I got mine kasi within the day I opened.

Yeah i got the confirmation email within the day i opened. I'm just waiting for the call from them to confirm my details then to give me the accnt details

jayp

Guys I hope you could help me. I have a few questions namely:

1. Is it ideal for me and my wife to open separate accounts? We both plan on working or pwede din isa lang since we have 3 kids to manage...

2. I know this sounds too subjective, but what is the best bank, in tems of convenience, reliability and least-to-no maintaining fee? What type of account is it?

3. Lastly, what bank can I use in the Phil for me to transfer money to the said account?

Regards.

peach17

Hi @jayp, kami sa BPI kami nag open ng AUD account then mag telegraphic transfer to NAB.

Obi

Di ba kapag lagpas 10k yung dadalhin mong cash e idedeclare mo na dapat? E pano kung 9k sa wallet ko at 9k naman sa wallet ng wife ko? Pwede ba yun?

peach17

hi @obi, i believe yung 10k ay good fo 1 family na po.

so kung 18k ang dala nyo... then you have to declare it na..

pero parang unsafe naman icarry yang ganyang kalaking amount...
why not ipa telegraphic transfer nyo na lang po sa AU bank account nyo na pwede nyo i open online

Obi

@peach17 thank you mam. Siguro nga po ganun na lang yung gagawin namin. By the way, ano kaya yung recommended na telegraphic transfer service?

TasBurrfoot

@peach17 thank you mam. Siguro nga po ganun na lang yung gagawin namin. By the way, ano kaya yung recommended na telegraphic transfer service?

Any bank can do TT - it all boils down nalang sa fees and fx rates...

Obi

@TasBurrfoot - Thanks paps. Kelangan ko pa ba mag-open ng aud account sa bdo or bpi before pa-telegraphic transfer to au bank?

TasBurrfoot

@TasBurrfoot - Thanks paps. Kelangan ko pa ba mag-open ng aud account sa bdo or bpi before pa-telegraphic transfer to au bank?

You need to have a PHP account with the institution who will do the TT for you; they will FX your money into AUD.

Obi

@TasBurrfoot Thank you sir.

raymundjubyOZ

Anyone familiar magkano Telegraphic Transfer sa BDO to Westpac Account dun din kasi ako nag open ng account online. Hinahanap din ba ang account details mo sa immigration to support your financial capacity or ung PR Grant Letter is enough? Thanks.

Obi

The moment ata magkaroon ka ng visa ok na. Malamang proof of identity kailangan to prove na ikaw yung holder ng visa.

Gusto ko rin malaman yung sagot sa una mong tanong.

peach17

@peach17 thank you mam. Siguro nga po ganun na lang yung gagawin namin. By the way, ano kaya yung recommended na telegraphic transfer service?

Hi @Obi, sa case nmin, nag open kami sa BPI ng AUD account. Then once na madepositohan mo na ito ng AUD, pwede na magpa TT. May fees and charges din involve not sure lang kung magkano, pero sabi nung naka usap kong teller, hindi nman daw tataas pa sa Php 3K ang charges.

So ang gagawin namin if ever eh isang TT na lang. Para isang bayaran lang ng Fees

legato09

Guys,

Tumitingin na po kami ng bank na puede kami mag open ng account while wala pa sa AU.
Nakita ko po ang CommonwealthBank, isa po sa mga requirements nila is Tax File Number (TFN), pasensya na po pero puede ko na din po applyan ang TFN habang nasa labas pa kami ng AU?

nfronda

@legato09..No, hndi pwde.. Dapt nasa OZ ka pag nag apply ng TFN..

legato09

@legato09..No, hndi pwde.. Dapt nasa OZ ka pag nag apply ng TFN..

Thanks po @Nfronda, nabasa ko nga po sa Things to do after you arrive in OZ....

TasBurrfoot

Guys,

Tumitingin na po kami ng bank na puede kami mag open ng account while wala pa sa AU.
Nakita ko po ang CommonwealthBank, isa po sa mga requirements nila is Tax File Number (TFN), pasensya na po pero puede ko na din po applyan ang TFN habang nasa labas pa kami ng AU?

TFN is not a requirement if you wish to open an account with CBA; what happen is that in the event that you cannot be able to produce this, your interest will be taxed.

Sharing our experience, we opened several months before our arrival and our savings earned interest already in Australia. As we did not have a TFN yet, our interest payment got taxed until such time that we were able to supply CBA our TFN.

legato09

Guys,

Tumitingin na po kami ng bank na puede kami mag open ng account while wala pa sa AU.
Nakita ko po ang CommonwealthBank, isa po sa mga requirements nila is Tax File Number (TFN), pasensya na po pero puede ko na din po applyan ang TFN habang nasa labas pa kami ng AU?

TFN is not a requirement if you wish to open an account with CBA; what happen is that in the event that you cannot be able to produce this, your interest will be taxed.

Sharing our experience, we opened several months before our arrival and our savings earned interest already in Australia. As we did not have a TFN yet, our interest payment got taxed until such time that we were able to supply CBA our TFN.

Thanks @Bossing TasBurrfoot, nag open na po kami kahapon sa CBA then start na kami mag ipon unti unti ;-) apply na lang kami TFN during our initial entry possible po ba makuha yun in 5working days? Gaano po ba sya katagal antayin?

lock_code2004

@legato09 TFN application is online once you arrived in AU..
you will receive it thru post, after approx 2-3 weeks..

peach17

oh, online pala ang TFN application.
Ano pong link ng TFN?