Comparing Banks to open account with BEFORE going to AUS

hard2handle · February 2014

Hi!

Anyone here living in Caroline Springs? I am trying to compare which Bank to open an account with while still offshore (Philippines). These are just two banks, but suggestions are most welcome:

NAB: ATM in Lake Street
Classic Everyday Account: no maintaining, no fees
Reward Saver Savings Acct: no maintaining, no fees, interest of 4.06% p.a. if with 1 deposit transaction and no withdrawals in a month

WESTPAC: ATM in Lake Street, Branch in Caroline Springs Blvd and ATM in Caroline Springs Shopping Center
Choice Everyday Acct: $5 fee is waived if minimum AUD2,000 monthly is deposited, interest of 2.50% p.a.
ESaver: 2.50% interest

Given that NAB ATM access is limited to where we reside, Westpac is the better option. However, since we don't have work yet upon our arival and the AUD2,000 monthly deposit requirement to waive the 5% fee might be challenging given our limited resources, and the fact that NAB is giving higher rates, NAB is on the edge.

Any inputs please? NAB ATM is a good 15-minute walk from where we will temporarily reside. Thank you.

gmad06 · March 2014

Hi!

Anyone here living in Caroline Springs? I am trying to compare which Bank to open an account with while still offshore (Philippines). These are just two banks, but suggestions are most welcome:

NAB: ATM in Lake Street
Classic Everyday Account: no maintaining, no fees
Reward Saver Savings Acct: no maintaining, no fees, interest of 4.06% p.a. if with 1 deposit transaction and no withdrawals in a month

WESTPAC: ATM in Lake Street, Branch in Caroline Springs Blvd and ATM in Caroline Springs Shopping Center
Choice Everyday Acct: $5 fee is waived if minimum AUD2,000 monthly is deposited, interest of 2.50% p.a.
ESaver: 2.50% interest

Given that NAB ATM access is limited to where we reside, Westpac is the better option. However, since we don't have work yet upon our arival and the AUD2,000 monthly deposit requirement to waive the 5% fee might be challenging given our limited resources, and the fact that NAB is giving higher rates, NAB is on the edge.

Any inputs please? NAB ATM is a good 15-minute walk from where we will temporarily reside. Thank you.

@hard2handle nakapagdecide ka na ba which bank? yung AUD2,000 monthly maintenance hindi naman yun cumpulsory for the first 12 months so may edge pa rin yung westpac. however, it may be a burden after a year. Entirely depends..nasa victoria ka na ba?

kookie420 · March 2014

nab - no fees!

StickyNote · March 2014

@hard2handle we're with NAB, classic banking acct and iSaver acct. I will apply for a NAB Reward Saver soon. Mas mataas kasi interest rate. Dun ko ilalagay yung extra.

Sa withdrawal, madalas sa Woolworths ako nagwi-withdraw sa self-serve check out machines, no fees at all. Walking distance lang kasi sa place namin kaya ok na dun magwithdraw. Even if you use other Australian bank's ATM cards at Woolworths sa withdrawal, wala din namang charge.

hard2handle · March 2014

@gmad06: Pinas pa kami. April 5 ang the day hehe. Di parin naka-decide re bank, pagdating na lang dun and get inputs sa cousin ko. But same with @kookie420 and @StickyNote, we're leaning towards NAB. Yun lang yoko pa mag-open ng account online. Mas ok siguro if makita naming for ourselves if ok lang kahit 15min walk away ang (lone) ATM near my cousin's place

gmad06 · March 2014

yun din ang next question ko, what if I decided to sign up with westpac then after a few months i will close it and sign up with NAB..do I have to pay any fees? sana may makapagshare..

hard2handle · March 2014

Yes merong charge if less than 1month ata from opening pa lang, not sure. Double check mo na lang din po since may info mismo sa specific account nila.

JCsantos · March 2014

yun din ang next question ko, what if I decided to sign up with westpac then after a few months i will close it and sign up with NAB..do I have to pay any fees? sana may makapagshare..

d uso ang nag cclose ng account dito, if you dont like your bank then just leave it

peach17 · March 2014

@hard2handle we're with NAB, classic banking acct and iSaver acct. I will apply for a NAB Reward Saver soon. Mas mataas kasi interest rate. Dun ko ilalagay yung extra.

Sa withdrawal, madalas sa Woolworths ako nagwi-withdraw sa self-serve check out machines, no fees at all. Walking distance lang kasi sa place namin kaya ok na dun magwithdraw. Even if you use other Australian bank's ATM cards at Woolworths sa withdrawal, wala din namang charge.

Hi @StickyNote, mas mataas pa ang NAB Reward Saver sa iSaver?
Ok yun ah hehe

Wala naman bang catch?
Buti na basa ko tong comment mo sis

jkk32w · November 2015

hello all! trying to bring back this thread

im sure all of u are settled na in AU. anong bank po ang maraming branch or accessible khit nasa distant suburbs ka..is it NAB, westpack or ANZ? so far eto lg nmn common ko nababasa..maybe u cn suggest more..if it depends sa state..lets say sa MEL and SYD ano ung pinka accessible in terms of number of branches...

and if anyone has time to compare d savings int rates or withrawal fees or maintainig balance similar to above shared, it wud also be helpful ..

thank you!

furano · January 2016

Hi po, regarding sa NAB - pwede na po ba mag deposit ng AUD habang nasa PH (parang wala silang branch dito e)?
Para wala na sanang risk mawala etc.

J_Oz · January 2016

@furano Ang alam ko pwede. may separate thread regarding this and I believe si @tasburrfoot ata yon nakapagremit from PH to AU bank.. double check ko baka mali haha

furano · January 2016

@J_Oz thanks. Through remittance pala talaga.

furano · January 2016

Hi All, share ko Lang from ANZ manila:

For you to be able to transfer your savings to Australia, you will have to open an AUD savings account with ANZ Manila. We will be able to assist you in transferring your AUD to your account with ANZ Australia. You will be able to view and transfer funds from your AUD savings account with ANZ Manila to your account in Australia while you are in Australia. This can be done through ANZ Manila internet banking.

TLDR: pwede raw magopen ng AUD savings account in Manila tapos transfer na Lang