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Banking & Insurance

Bank account in Australia

  1. List of banks in Australia
  2. Types of accounts
  3. 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 expenses, 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

Opening 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, avoiding accidentally spending 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 no monthly or annual account fees, and no ATM fee for deposit and withdrawal cash.

  • Joint accounts

A joint account means that there will be two account holders. It is 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 a 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 the phone or online.

 

Overseas Student Health Cover

  1. What is OSHC?
  2. Basic benefits
  3. List of OSHC insurers
  4. 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 appointment cost
    • Prescribed medicine (limit)
    • Hospital treatment
    • Emergency ambulance transport
    • Medical tests

There are some things that 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 an extra health insurance policy on top of your OSHC. Different extras policies cover different things.

3. List of OSHC insurers

4. How to claim on your Overseas Student Health Cover – according to Allianz Care Australia

Direct billing medical network

The easiest way to manage your health claims is to choose a direct billing medical provider. This way, your claim will automatically be sent to us we will pay the medical provider directly.
FIND A DIRECT BILLING MEDICAL PROVIDER

Non-direct billing medical network

You can either pay the full amount to the medical provider then use the tax invoice to submit a claim or you can request for Allianz Care Australia to pay the medical provider directly.

There are a number of simple ways to claim including:

Claim via Allianz MyHealth app

Use the Allianz MyHealth app to submit a claim, access and update your membership details including your e-membership card, find a doctor and access our 24-hour helpline.

  1. Download the app or log-in to the portal (If you have not done so already).
  2. Register for an account. Be sure to have your policy number ready.
  3. Select ‘Submit claim’.
  4. Upload photos of your invoices and receipts.

Email claim

  1. Download the   claim form            
  2. Print and complete the form
  3. Scan your completed form and any relevant attachments e.g. medical invoices (receipts)
  4. Email them to [email protected] with your policy number in the email subject line.

Alternatively, you can post your claim and receipts to:

Allianz Care Australia OSHC

Locked Bag 3001

Toowong QLD 4066

What happens after you submit your claim?

Once we receive your claim, we will process it within 10 working days, provided we have all the information we need. Keep in mind that postage and bank clearance times may take several days.

If you have submitted a claim for treatment you have already paid for, you can choose to have your benefit paid by:

  • Electronic funds transfer – we will deposit money into your nominated bank account
  • Cheque – we will send you a cheque to your Australian postal address

If you have not paid for the treatment, we can send the payment directly to your medical provider.  Please make sure to indicate this on the claim form and make sure you submit your claim as soon as possible so we can pay the bill on time.

Source:

https://www.allianzcare.com.au/en/student-visa-oshc.html