Bank account in Australia
- List of banks in Australia
- Types of accounts
- Opening a bank account
1. List of top 4 banks in Australia
2. Common types of bank accounts
- Transaction accounts
A transaction account can be used for managing day-to-day expense, which allows you to deposit and access your money, pay off bills, use the debit card to shop and withdraw money from ATMs.
- Savings accounts
Open a saving account is a good idea if you have a large sum of money. This also helps you practice your personal finance by putting a part of your money away each week, avoid accidentally spend it on something unnecessary.
- Student accounts
A student account has the same things as a transaction account, except that it will be fee-free for everyday operations. Most banks will offer students with no monthly or annual account fees, and no ATM fee for deposit and withdraw cash.
- Joint accounts
A joint account means that there will be two account holders. It often used by a couple, or parents, to combine finances and manage expenses or save together.
3. Open a bank account
- Step 1: Research the market
List your need and do some research in the market to find the most suitable bank for you. You need to find the right bank, right account, and the right products for you by comparing some features like the card type, monthly fees, minimum monthly deposit required, international transaction fees, …
- Step 2: Apply for an account
You can choose whether to go to a branch for opening a bank account or do it online. If you are applying for a student bank account, you may need to provide the following documents:
- Primary document: Passport
- Secondary (photograph and name): Driving licence, Student ID
- Secondary (must have name and address on it): Car registration, Utility bill, Rental receipts
- Electronic Confirmation of Enrolment (eCoE)
- Mobile phone number
- Email address
- TFN (optional)
- Step 3: Receive bank card
Once you get your bank card in your mail, you will need to sign the back and activate it with the provided PIN before you can make withdrawals. This step can be done over phone or online.
Overseas Student Health Cover
- What is OSHC?
- Basic benefits
- List of OSHC insurers
- How to make a claim
1. What is OSHC?
OSHC is health insurance to assist Overseas Students and their dependents meet the costs of unplanned medical and hospital care which they may need while undertaking formal studies in Australia. OSHC includes ambulance cover and limited pharmaceutical items.
2. Basic benefits for international students
The benefits amount may vary depending on the insurers. Usually, OSHC will help you cover:
- Medical treatment
- Doctor’s appoinment cost
- Prescribed medicine (limit)
- Hospital treatment
- Emergency ambulance transport
- Medical tests
There are some things are not covered by your OSHC:
- Private patient hospital costs
- Cosmetic surgery
- Hearing aids and appliances
- Treatment outside of Australia
- Infertility treatment
- Compensation treatment
- Extras services (dentist, physiotherapist, optometrist, or other medical and alternative treatment services)
If you would like to cover expenses for additional treatments, you can buy general health insurance or extra health insurance policy on top of you OSHC. Different extras policies cover different things.
3. List of OSHC insurers
4. How to make a claim
There are three ways to make a claim:
You can visit your OSHC provider on your campus to process your claim
You can go online and download the claim form. Once finish, scan your completed form and any relevant attachmentsemail it to your OSHC provider together with your policy number and receipts.
- OSHC providers online services:
Another way for you to make a claim is through their website or mobile app.
If the claim is approved, the money is usually credited to your preferred bank account or credit union account within a few days, or you will receive a cheque which is sent to your nominated address.