One of the first things you will want to do after you arrive in Australia is to open a bank account. The Commonwealth and National Australia banks have branches on The University of Melbourne campus. The branches on campus have staff who are very experienced in helping international students. When opening an account, students should have their passports with them. If an account is opened more than one month after arriving in Australia, at least two forms of identification are needed.
Most students open a basic savings account.
Banks in Australia also have accounts that are savings and cheque accounts. You may find it convenient to have a chequebook. Having a TFN can reduce the rate of tax applied to the interest earned on a bank account. In addition, a TFN is required for students considering employment in Australia. Further information on TFNs is available at Trinity College upon arrival, or from the Australian Taxation Office at 2 Lonsdale St, Melbourne.