It is important to select the bank and account that best suits your needs, because each bank has different account options, fees and charges. Most banks have ‘fee-free’ students accounts. Check out all banks and credit unions for your best option.For more information on different bank accounts that are available click on the following link:
How to open a bank account
Banks all vary in relation to the age at which you can open a bank account.Generally, if you are 12 years or over you will be able to open an account in your own name. You need to be able to sign a consistent satisfactory signature and provide details, such as your full name and date of birth. You will need to provide proof of identity like:
- Your birth certificate;
- A current passport;
- Australian citizenship certificate;
- A letter from the your school on letterhead signed by the Principal or Deputy Principal verifying your name, date of birth and school attendance; or
- A current signed student photo identification card.
ATMs are usually the most convenient and cheapest way of getting money out of the bank. However, try to avoid using an ATM that does not belong to your bank, as a transaction will usually cost you around $2.50.Usually banks offer internet banking and phone banking which are also very handy. Discuss this option with your bank.