Which Bank to join?

s20101938

The Big 4 are ANZ, NAB, Commonwealth Bank and Westpac.
Been reading some horror stories online about overdraft charges and stuff. What've been people's experiences? Who do they recommend?

Zambia

Try NAB they boast they have the least bank charges. Join the bank that will spare you bank charges.

Slunk

I'm with westpac and have no problems with them. Set it up online from Ireland. Nearly sure i got no fee's deal for been a backpacker. They also set me up a super account . Anytime I've had to go into a branch they've always been very helpful.

markymark21

Slunk wrote: »

I'm with westpac and have no problems with them. Set it up online from Ireland. Nearly sure i got no fee's deal for been a backpacker. They also set me up a super account . Anytime I've had to go into a branch they've always been very helpful.

How much do they charge you if you withdraw money from a non westpac ATM??

Slunk

All banks charge crazy for using other atms. You can also use st George atms for free with westpac.
Depends on which other atm. Think its two dollars or two fifty. Think commonwealth only charge one fifty. There's plenty of atms arounm though.
Never see the point in these charges as normally in shopping centres there will be a row of four atms. One for each bank. You get used to it and get to know where your banks atms are where you live.

PhiliousPhogg

http://www.canstar.com.au compares fees, rates etc. It's a very useful site.

I think Bankwest have no ATM or monthly fees for an online account.

lg123

i am with commonwealth. when i arrived on a whv they gave me a student account. its not fully fee free but i dont pay fees for most of the everyday banking transactions. i have to pay for transactions i complete in the bank for instance, i done this once as it was a large transaction, cost a couple of bucks.
commonwealth owns bankwest, which means you can use their atms and all the atms in the 7eleven shops for free.

i dont know what the other banks online services are like but commonwealths is great, $hits all over boi or aib

hussey

Conn Bank has probably the best internet banking in Aus (they spent close to 100m on it!) according to 'experts'

I use it daily and is great (apart from that one time it broke!)

I get my wages paid into my bank, so no fees for me
I am usually careful to withdraw $ from a CB ATM, didn't know about the bankwest ATM being free - thanks for that.

ellaq

Thanks for the tip with CBA. Yes, they do own it and if you are with Bankwest it is free to use CBA atms. That is what they are advertising is saying without saying that it is free for CBA customers to use Bankwest. That's banks for you.

It would be great if it was true as they recently removed my local CBA atm. Can you request for the overdraft facility to be removed?

Xavi6

PhiliousPhogg wrote: »

I think Bankwest have no ATM or monthly fees for an online account.

Just to correct the above, a Bankwest online account is indeed fee free but it can only be used for savings, i.e. you cannot withdraw from it directly, you must have a transaction account linked to it.

There are fee free transaction accounts alright but they come with an overdraft facility so you need to undergo a credit check to get one. You also need to have $2k going through it per month (it just needs to go into the account in total, not one lump sum, and it doesn't have to stay there). The ATM fees are also only limited to the big four banks so if you use Bank of Queensland or Bendigo for example Bankwest won't pick up the fee for you.

Zambia

2000 in a month is do able just have wages paid in. Plus if you can not find a big 4 atm Then chances are you will not find any. As long as it has EFTPOS you should be right.

Theresalwaysone

Zambia wrote: »

2000 in a month is do able just have wages paid in. Plus if you can not find a big 4 atm Then chances are you will not find any. As long as it has EFTPOS you should be right.

This offer only applies to Aus Residents (if its the Bankwest zero fees offer). Least thats what I was told by them.

OP Id say Bankwest, I went with them regardless of the above as EVERY SevenEleven over here has a Bankwest ATM and you can also use Commonwealth ATMS free of charge.

Never too far away from an ATM as theres SevenElevens on every corner.

hussey

Theresalwaysone wrote: »

This offer only applies to Aus Residents (if its the Bankwest zero fees offer).

Not true

Theresalwaysone

hussey wrote: »

Not true

Really strange. The 'sales assistant' in the bank told us this. I thought it'd be a fairly silly rule to have at the time, didnt bother querying it though, just wanted to get my bank account and get the hell outta dodge.

Xavi6

hussey wrote: »

Not true

True

http://www.bankwest.com.au/library/pdf/PDS_20080125-110540.pdf

The Bankwest Zero Transaction Account is an account for personal customers who are Australian Citizens or Permanent Residents over 18 years of age that has no maintenance fee and provides unlimited access to Bankwest facilities, including over-the-counter, Bankwest ATMs, Phone Banking, Bankwest Online Banking and Cheque Access.

hussey

My apologies!
I skimmed over the website and couldn't find it in the account section, hidden away in PDS

rightyabe

So would the Commonwealth Bamk be the best one to go with?

ballooba

I just closed my Zero account today because we're moving overseas. It was a joint account so maybe I'm piggy backing on the Mrs citizenship but I am not permanent resident.

Xavi6

ballooba wrote: »

I just closed my Zero account today because we're moving overseas. It was a joint account so maybe I'm piggy backing on the Mrs citizenship but I am not permanent resident.

Were you a joint party or just a sig to the account?

ballooba

Xavi6 wrote: »

Were you a joint party or just a sig to the account?

Joint.

pmurphy00

i find commonwealth great
u might pay a few dolla here and there
but the quality of their banking services are fantastic imo

Xavi6

ballooba wrote: »

Joint.

Weird, that really shouldn't have been opened. Good for you though I suppose!

Liam_Flag

What is the best way to take out cash when I arrive in Oz at first?

What if any are the charges like for using my Bank of Ireland Laser card over there?

Thanks!

hussey

Liam_Flag wrote: »

What is the best way to take out cash when I arrive in Oz at first?

What if any are the charges like for using my Bank of Ireland Laser card over there?

Thanks!

How about logging on to BOI and checking the fees yourself?

karl bracken

how about asking on a forum and getting an answer, no wait thats a terrible idea :rolleyes:

not sure about the charges from BOI but id imagine there would be.
my account was opened with westpac b4 i got here i think there very good, actually the standard of banking over here seams better than home, so far lol

i just went in with my passport and withdrew money for about a week from westpac - obviously i sent the money over b4 i came

ballooba

don't use bank to transfer international or for forex. Use ozforex or similar.

hussey

karl bracken wrote: »

how about asking on a forum and getting an answer, no wait thats a terrible idea :rolleyes:

Mod No that's a lazy idea, and please no text speak.
BOI charges are stated on their website

KingdomYid

hussey wrote: »

How about logging on to BOI and checking the fees yourself?

I am just wondering why this forum does not like people asking questions, from my experience on here there seems to be a lot of smart replies to peoples questions. Ok granted some questions are obvious or already asked but this forum has a vibe that would sometimes discourage people from making an enquiry. Just something I have noticed since I have been on here, correct me if I am wrong

Xavi6

KingdomYid wrote: »

I am just wondering why this forum does not like people asking questions, from my experience on here there seems to be a lot of smart replies to peoples questions. Ok granted some questions are obvious or already asked but this forum has a vibe that would sometimes discourage people from making an enquiry. Just something I have noticed since I have been on here, correct me if I am wrong

To the casual observer it may look like that but the forum has been going for a few years now. In that time could you even hazard a guess at how many times questions are answered repeatedly?!

It's as easy to use the search function first than to post a new thread asking something that's most likely been answered 20 times before. There's certainly nothing malitious meant but laziness is bloody frustrating after a while!

KingdomYid

Xavi6 wrote: »

To the casual observer it may look like that but the forum has been going for a few years now. In that time could you even hazard a guess at how many times questions are answered repeatedly?!

It's as easy to use the search function first than to post a new thread asking something that's most likely been answered 20 times before. There's certainly nothing malitious meant but laziness is bloody frustrating after a while!

No worries mate, I understand where you are coming from too.

hussey

KingdomYid wrote: »

I am just wondering why this forum does not like people asking questions, from my experience on here there seems to be a lot of smart replies to peoples questions. Ok granted some questions are obvious or already asked but this forum has a vibe that would sometimes discourage people from making an enquiry. Just something I have noticed since I have been on here, correct me if I am wrong

Yes fair enough, I know some of the replies we can can be come across as smart, but this forum is about people making a move to Australia/New Zealand, some people (and I am not pointing fingers at people from this thread) really want every single part of their trip to come from someone else.
How much for a visa (clearly stated on visa website)
How much for a flight (again internet)
We are happy to answer questions once it seems a bit of work has been put in, but when zero effort has put then then we can put zero effort back.

We have to keep a balance of new posters wanting information and old posters giving them, when a new poster (I would consider <100 post new) asks something obvious, we try to tell them to read the sticky and use the search functionality, otherwise we would just have pages and pages of WHV questions repeated and older posters would get sick of answering them and forum dies.

If I have come across as a smart-arse then I apologise, I keep this in mind from now on, but I stand by my point, "how much does BOI charge for transactions" can be found on the web (I posted the link) and easily found, if you ask something that you can find yourself, then that is lazy. And when you reply with a condescending rolleyes then you can see why we can get smart.