Australia has a well-developed banking system that supports its economy with a wide range of financial services. The list of banks in Australia includes institutions that offer student accounts, loans, and digital banking solutions. Choosing the right bank from the list of top banks in Australia can help you save on fees, access competitive interest rates, and enjoy convenient banking options.
Whether you are a student managing your finances or someone looking to understand banks in Australia, this guide will help you navigate the list of banks in Australia, the different types of banks, and the steps to open a bank account in Australia. Let’s get started without further ado!
Table of contents
- List of Banks in Australia
- List of Banks Operating Australia-Wide
- Banks Based in New South Wales (NSW)
- Banks Based in Victoria (VIC)
- Banks Based in Queensland (QLD)
- Banks Based in Western Australia (WA)
- Banks Based in South Australia (SA)
- Banks Based in Tasmania (TAS)
- Foreign-Owned Subsidiaries Operating in Australia
- International Money Transfer Companies
- Types of Banks in Australia
- Comparison of Banks in Australia
- List of Best Online Bank Accounts in Australia
- How to Open a Bank Account in Australia?
- How to Choose the Right Bank as a Student?
- FAQs on List of Banks in Australia
List of Banks in Australia
The list of banks in Australia is based on their operational reach, including nationwide banks, state-based banks, and foreign-owned subsidiaries. Additionally, some international money transfer companies facilitate global transactions.
Below, you will find a detailed list of banks in Australia, organized by availability and headquarters locations to help you make informed financial decisions.
List of Banks Operating Australia-Wide
With a strong regulatory framework, some Australian banks operating Australia-wide provide secure and efficient financial solutions to residents and students. Below is a list of banks operating nationwide:
- Commonwealth Bank of Australia (Operational HQ: Sydney)
- Westpac Banking Corporation (Operational HQ: Sydney)
- Australia and New Zealand Banking Group (ANZ) (Operational HQ: Melbourne)
- National Australia Bank (NAB) (Operational HQ: Melbourne)
- Suncorp Bank (Operational HQ: Brisbane)
- AMP Bank Limited
- IMB Bank
- ME Bank
- St George Bank
- Beyond Bank Australia (Operates in NSW, WA, SA, ACT)
- Defence Bank (Serves the Australian Defence Force and the wider community)
- Delphi Bank (Available in NSW, VIC, SA)
- Hume Bank
- G&C Mutual Bank (Available in NSW, VIC)
- Rural Bank (Primarily in SA and VIC, but also accessible through Bendigo Bank and Adelaide Bank)
- Teachers Mutual Bank
Banks Based in New South Wales (NSW)
Below is a list of banks in Australia located in New South Wales:
- Commonwealth Bank of Australia (Operational HQ: Sydney)
- Westpac Banking Corporation (Operational HQ: Sydney)
- Macquarie Bank Limited (Operational HQ: Sydney)
- Bank of Sydney
- Police Bank (Serves police members and their families)
Banks Based in Victoria (VIC)
Below is a list of banks in Australia located in Victoria:
- Australia and New Zealand Banking Group (ANZ) (Operational HQ: Melbourne)
- National Australia Bank (NAB) (Operational HQ: Melbourne)
- Bank of Melbourne (Operational HQ: Melbourne)
- Macquarie Bank Limited (Also operates in Sydney)
- Bank Australia
- Bendigo and Adelaide Bank (Operational HQ: Bendigo)
- BankVic (For police, health, emergency, and public service sectors)
- Victoria Teachers Mutual Bank (For teachers)
Banks Based in Queensland (QLD)
Below is a list of top banks in Australia located in Queensland:
- Suncorp Bank (Operational HQ: Brisbane)
- Auswide Bank Ltd
- Bank of Queensland
- Heritage Bank
- QT Mutual Bank (For teachers)
Banks Based in Western Australia (WA)
Below is a list of banks in Australia located in Western Australia:
- Bankwest
- P&N Bank
Banks Based in South Australia (SA)
Below is a list of banks in Australia located in South Australia:
- Adelaide Bank
- BankSA
Banks Based in Tasmania (TAS)
Below is a list of banks in Australia located in Tasmania:
- MyState Bank
Foreign-Owned Subsidiaries Operating in Australia
Below is a list of foreign-owned subsidiaries operating in Australia:
- HSBC Australia (Operational HQ: Sydney)
- Citibank Australia (Operational HQ: Sydney)
- Arab Bank Australia
- Bank of China Australia
- Deutsche Bank Australia
- ING Direct (A subsidiary of a Dutch bank)
- Investec Bank
- Rabobank
International Money Transfer Companies
Below is a list of international money transfer companies. These companies specialize in international transactions:
- HIFX
- MoneyCorp
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Types of Banks in Australia
The banking options in Australia are categorized into four main groups: the Big Four Banks, Regional and Mutual Banks, Foreign Banks, and Neobanks. Each category plays a crucial role in Australia’s financial ecosystem, offering tailored services to meet diverse customer needs.
Let’s first discuss the Big Four Banks:
Big Four Banks
The Big Four Banks dominate the Australian banking sector and provide comprehensive services, including personal banking, business banking, and investment solutions.
- Commonwealth Bank of Australia (CBA): CBA is one of the largest banks in Australia, offering a wide range of financial services including savings accounts, student banking, and international transfers.
- Westpac Banking Corporation: Established in 1817, Westpac provides personal and business banking, mortgages, and wealth management solutions.
- Australia and New Zealand Banking Group (ANZ): ANZ offers diverse banking services, including student accounts and investment banking.
- National Australia Bank (NAB): NAB provides easy banking options for students, businesses, and individual customers across Australia.
Regional and Mutual Banks
Regional and mutual banks serve specific areas and communities in Australia, providing personalized customer service and competitive rates.
- Bendigo and Adelaide Bank: This bank offers savings accounts, home loans, and business banking services.
- Bank of Queensland (BOQ): BOQ provides student-friendly banking options, including low-fee accounts and mobile banking.
- Heritage Bank & People’s Choice Credit Union: These customer-owned banks in Australia focus on lower fees and better rates for their members.
Foreign Banks in Australia
Foreign banks operate in Australia, catering to international businesses, expatriates, and global investors.
- HSBC Bank Australia: HSBC offers global banking services, including international student accounts and foreign currency exchange.
- Citibank Australia: Citibank provides high-interest savings accounts, credit cards, and investment solutions.
Neobanks and Digital Banks
Neobanks are online-only banks that offer digital-first banking solutions, perfect for students who prefer mobile banking.
- Up Bank: A mobile-friendly bank with no account fees and easy money management tools.
- 86 400 (Now UBank): A digital bank offering better interest rates and savings automation.
Comparison of Banks in Australia
To help students make an informed decision, the table below provides a comparison of different types of banks in Australia, highlighting their key features and advantages.
| Bank Type | Examples | Key Features | Pre-Arrival Account Opening |
| Big Four Banks | CBA, Westpac, ANZ, NAB | Full banking services, student accounts, loans | Yes |
| Regional Banks | BOQ, Bendigo Bank | Focus on local communities, better customer service | Yes |
| Mutual Banks | Heritage Bank, People’s Choice | Member-owned, lower fees, better savings rates | Yes |
| Foreign Banks | HSBC, Citibank | Global banking, multi-currency accounts | Yes |
| Neobanks | Up Bank, UBank | 100% online, no monthly fees, better savings rates | Yes |
List of Best Online Bank Accounts in Australia
For students who prefer digital and mobile-first banking solutions in Australia, a list of online banks offers a convenient and cost-effective way to manage finances. These banks provide user-friendly apps, competitive interest rates, and low or no fees, making them ideal for students seeking hassle-free banking.
Below is a list of some best online bank accounts in Australia, known for their seamless digital experience, excellent customer service, and student-friendly features.
1. ING Australia
The ever-reliable ING Australia, one of the biggest online banks in the world, offers a wealth of great options for its Australian audience. With competitive interest rates and a user-friendly digital platform, ING is an excellent choice for students looking for a seamless banking experience.
2. ME Bank
The ethical, Melbourne-based ME Bank provides a great range of personal and business accounts tailored to different needs. With a strong focus on digital banking, ME Bank ensures students can efficiently manage their funds with minimal fees and maximum convenience.
3. UBank
UBank stands out with its no-fee spending account that includes an award-winning app packed with features to enhance the banking experience. Offering high-interest savings accounts and a smooth digital interface, UBank is an attractive choice for students who prefer managing finances entirely online.
How to Open a Bank Account in Australia?
Opening a bank account is one of the first steps international students should take when arriving in Australia. A local bank account makes it easier to manage finances, receive funds, and pay for daily expenses without high international transaction fees.
The process is straightforward but requires careful planning. From choosing the right bank to submitting the necessary documents and activating online banking, each step ensures a smooth banking experience. Here’s a detailed guide to help students open a bank account in Australia with ease.
- Choose a Bank and Account Type: Research and select a bank that offers accounts aligning with your needs.
- Prepare Necessary Documentation: Typically, you’ll need your passport, student visa, proof of enrollment, and proof of residence.
- Apply Online or In-Branch: Many banks allow you to open an account online before arriving in Australia. Alternatively, you can visit a branch upon arrival.
- Activate Your Account: Once in Australia, visit the bank to verify your identity and activate the account.
- Set Up Online Banking: Register for online and mobile banking to manage your finances conveniently.
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How to Choose the Right Bank as a Student?
Selecting the right bank is crucial for students managing their finances in Australia. With various banking options available, it’s important to find one that offers convenience, affordability, and essential features tailored to student needs.
From low-fee student accounts to competitive interest rates and seamless online banking, several factors should be considered before opening an account. Here we have outlined key aspects to help students make an informed decision when choosing a bank in Australia.
1. Look for Student-Friendly Features
Many banks in Australia offer special accounts for students with low or no fees. Look for features like free ATM access, online banking, and international transfer options.
2. Compare Interest Rates
Check the savings account interest rates offered by different banks in Australia. Digital banks and mutual banks often provide higher interest rates than traditional banks.
3. Evaluate Banking Fees
Some banks charge maintenance fees, transaction fees, or foreign transaction fees. Make sure to compare and choose a bank in Australia with minimal charges.
4. Check Online and Mobile Banking Options
If you prefer managing your money digitally, choose a bank in Australia with an easy-to-use mobile app and online banking services.
Choosing the right bank in Australia is crucial for managing your finances efficiently. Whether you opt for a Big Four bank, a regional bank, or a neo bank, understanding their services can help you make an informed decision. Always compare fees, interest rates, and online banking features before opening an account.
By staying informed about the latest developments in the banking industry in Australia, students can maximize their financial benefits and enjoy seamless banking experiences.
FAQs on List of Banks in Australia
The list of banks in Australia includes the “Big Four” banks—Commonwealth Bank, Westpac, NAB, and ANZ—along with regional banks, customer-owned banks, and international banks like HSBC and Citibank.
Several banks from the list of banks in Australia offer student-friendly accounts. Commonwealth Bank, Westpac, and NAB provide no-fee accounts, budgeting tools, and other student benefits.
Yes, the list of banks in Australia includes international banks like HSBC, Citibank, and ING, which offer global banking services and easy international money transfers.
The safest banks in Australia include the Big Four banks—Commonwealth Bank, Westpac, NAB, and ANZ—as they are highly regulated by APRA and have strong financial stability.
Yes, international students can choose from the list of banks in Australia that offer accounts with no monthly fees, such as NAB, Westpac, and Commonwealth Bank.
Customer-owned banks, such as Great Southern Bank, operate for the benefit of their members, while major banks from the list of banks in Australia are for-profit corporations.
Among the list of banks in Australia, ING, Commonwealth Bank, and ANZ are known for their advanced mobile apps and user-friendly online banking platforms.
Yes, many banks from the list of banks in Australia, including NAB, Westpac, and digital banks like Up and ING, offer fee-free accounts for students and everyday banking.
Most banks from the list of banks in Australia, such as Commonwealth Bank, Westpac, and HSBC, offer international money transfers via online banking with competitive fees.
Among the list of banks in Australia, Commonwealth Bank and Westpac have the largest ATM networks, making cash withdrawals convenient across the country.
To learn more about bank accounts for students, the best education loans, forex, banking experience for global students, or international money transfers, reach out to our experts at 1800572126 to help ease your experience with studying abroad.
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