The ANZ Bank, Australia, also referred to as the Australia and New Zealand Bank Group was founded in 1835. It is a multinational bank and a financial service company. Its headquarters is in Melbourne, Victoria.
ANZ Bank is one of the largest banks in New Zealand and Australia. This bank is counted under the “big four” banks of the country. ANZ Bank provides various services such as loans, personal and business services, insurance, investments, etc which make it a great option for international students.
In this blog, we will be navigating you through the benefits and support this bank offers to international students and why should a student open a bank account in ANZ Bank.
Also Read: Guide to Open International Student Bank Account in Australia
ANZ Bank, Australia
The prime aim of ANZ Bank, Australia is to mark their presence in areas where communities thrive and to work for a balanced and sustainable life of the people.
The range of bank accounts one can open in ANZ bank are:
- Everyday accounts
- Savings accounts
- Term deposits
- Kids banking
In addition, you can also upgrade to ANZ Plus in which you can get two bank accounts to handle your finances. With an ANZ Plus account, you could earn an interest rate of 4.65% per annum.
Benefits of Opening an Account in ANZ Bank, Australia
Studying Abroad? You need to hustle in many ways, be it accommodation, or adjusting to different people. But when it comes to getting a bank account you can completely rely on ANZ bank. This bank offers safety and security plus a high rate of interest per annum.
In ANZ bank, there is a section under the Everyday account which is Migrant banking. So, if you are an international student, searching for a job, or seeking to start a fresh life in Australia you can take the benefits of ANZ banking.
ANZ Bank, Australia provides you with a debit card and ATMs are easily accessible everywhere.
Apart from just getting a bank account in this bank, ANZ will help guide you about how you can handle your finances while studying.
Also Read: Study in Australia
Bank Account for Students
As an international student, you can open your Everyday or Savings account in ANZ Bank, Australia.
If you are a full-time student under 25 years, you need not pay any monthly service account fee. Although people who get an everyday bank account in ANZ bank need to pay an account service fee with ANZ access advantage (normally $5 a month).
The bank offers Visa Debit cards to students above 14 years of age. This will facilitate you to conduct the transactions easily either through ATMs, net banking or mobile banking application.
The savings account for students will help them to save the money that they might earn in any part-time job along with their studies. You can earn interest while having access to a savings account interlinked with your everyday account.
If you want a credit card, ANZ bank will provide you with a credit card with a convenient everyday card with minimal ongoing annual charges.
Also Read: Here are the Best Banks for International Students in Australia
Advantages of ANZ Bank, Australia
Mentioned below are some of the advantages of getting an everyday account in ANZ Bank:
- Make quick payments with individual PayID through an updated version of the ANZ mobile app.
- For bigger payments of over $1000, you can use the voice IDs function on the ANZ banking app for secure payments.
- Add the ANZ Visa Debit card and enjoy the leverage of contactless payments through your phone.
- If in any case your debit card gets misplaced, then you can temporarily block your card and keep it safe. You can also unlock your card.
Application Process
Here is a general guide that describes how an international student can apply for a bank account in ANZ:
- You need to fulfil the basic eligibility requirements. You must be a full-time international student studying at any recognized or affiliated university in Australia.
- Then, you must provide all the documents required for opening a bank account in ANZ
- You can schedule a meeting with the bank representative to get an international student account.
- Provide proof of funds or you must have a minimum deposit amount.
- Choose the type of account you require every day or a savings account and get your account opened.
You can also open the account through the online process:
- Must have Australian residential proof.
- The age should be more than 12 years old.
- Have arrived in Australia.
- Identity proof.
Documents required
Following is the list of documents required to open a student’s account in ANZ Bank:
- Australian Passport
- Australian Visa in foreign passport
- Australian residential address
- Confirmation of enrollment
- Student visa details and proof
- And other identification documents
If you are a new client then, you need to provide one primary ID and two secondary IDs:
Examples of Primary ID
- Australian photographic driver’s license/learner’s permit
- Australian Passport
- Foreign passport
- Australian or Foreign citizenship certificate
- Australian state/territory government issued Proof of Age card
- Government-issued National Identification card
Examples of Secondary ID
- Birth certificate
- Australian or Foreign citizenship certificate
- Australian Medicare card
- Australian Taxation Office (ATO)
Also Read: Best Ways to Use Credit Cards for College Students
FAQs
Ans. The purpose of opening a bank account for students is to give them a sense of how to maintain finances and do budgeting. Personal accounts would help students to manage their money as a responsible person.
Ans. It is one of the oldest banks in Australia since it was founded in 1835. ANZ Bank, Australia is also rated as one of the safest banks in the world which makes it the best bank for international students.
Ans. Mentioned below are some of the best banks in Australia for students:
Westpac – Westpac Choice Student.
NAB – NAB Classic Banking.
Commonwealth Bank – Student Smart Access.
ANZ – ANZ Student Access Advantage.
Citibank – Citibank Plus Everyday Account.
This is everything you need to know about a student account in Anz Bank, Australia. If you want details regarding foreign exchange, study loans and scholarships for your study abroad dreams? Let Fly Finance help you and make your dreams come true!
