Moving to Australia Tips for Preparing Working and Banking

G'day and welcome to Australia

It's great that you're thinking about moving to Australia. You're on the verge of discovering our beautiful country, unique Australian culture, and legendary lifestyle. Here are some tips for preparing, working, banking, and settling in.

Before moving to Australia

Australian Visa

Specific visas are required if you plan to live and work in Australia
You can find information on what (if any) visa is required by visiting the Australian Government Department of Home Affairs website:

Find the right visa

Organise your financial affairs

Before you move, it is a good idea to:

Ask your bank(s) how to manage your accounts while you're overseas
Cancel direct payments for existing services such as gas, electricity and phone. Reviewing previous card and bank statements is a good way to identify such transactions.

Identification documents

Ensure you have a valid passport, and the expiry date aligns to any visa requirements
A birth certificate, driver's licence and passport may help if you're required by an employer or bank to identify yourself

Identification checklist (PDF 845KB)

Banking in Australia

Get familiar with banking terms

In Australia, our day-to-day bank accounts are called 'everyday' or 'transaction' accounts
Savings accounts generally allow you to earn interest on your balance each month
Term deposits are a type of savings account that offer a fixed interest rate on amounts set aside for a fixed length of time
'ATMs' are used to withdraw or deposit cash
If you need to speak to a banker in person, you can visit a branch

Set up your bank accounts

You'll need to be in Australia to open an Australia bank account
We're required to check identification documents for new customers, before you will be given access to your account
Find out more about Bank of Melbourne everyday bank account

Transferring your funds to Australia

If you would like to transfer funds to or from Australia, we can help with secure international transfers at current exchange rates
You will need to have opened an Australian bank account to receive your funds

Setting up your Australian services

Australian taxation

Most Australian employers will require you to have a tax file number (TFN)
Your TFN is a unique 9-digit identifier issued by the Australian Tax Office (ATO)
You can apply for a TFN through the ATO website
They way you pay tax in Australia will vary according to your 'tax residency' status

Healthcare

Medicare is Australia's public healthcare system
If you're a permanent visa holder, you'll be eligible for cover
A Medicare card gives you access to subsidised treatment and some medications
If you're ineligible due to your chosen tax status, you may wish to consider private health insurance
You could also ask your current health insurance provider if they can support you in Australia

Information on retirement funds

Superannuation ('Super') is the system used in Australia to save and grow money for retirement
Your employer must make payments into a Super fund on your behalf
You can choose the fund offered by your employer, or research and choose your own fund
You'll be able to access the money when you retire or if you choose to leave Australia for good

Government Information on Super

Finding a home, utilities and transport

Choose where to live in Australia

There are many living options in Australia ranging from a unit to a house with a yard
Do plenty of research, factoring in lifestyle, transport, schools and budget
If you are renting, you will need to show you have sufficient funds and income

Set up your utilities

Once you have found a home, you will want to set up its services
Comparison sites are available to help with your decision making for electricity and gas, broadband and mobile phone providers

Getting around in Australia

Transport options in Australia include trains, buses, taxis, ride share, light rail, and airline routes across the country
If choosing to drive, you will need to know our road rules and may need to transfer your licence

Working, studying or setting up a business

Finding and starting work

Whether you're visting for a short-or-long-term work, or here to start a business, Australia's vibrant and varied economy can offer a multitude of job opportunities
There are job search and professional networking sites available to help you find work

Studying at school or university

Australia offers a wide range of options for pre-school, primary, secondary and tertiary education
We have both public and private schools, including schools linked to a wide variety of faiths
Our universities are world class, with degrees recognised across global industry and commerce

Starting a business in Australia

Australia warmly welcomes immigrants who want to start a business here
You can start a business here even if you don't have Australian citizenship
Make sure you’ve read up on the rules and requirements for Australian business owners

Things you should know

The information and links provided on this page are for your infromation and convencience only. Please note that the information provided is general in nature and does not take your circumstances into account and is not advice, recommendation or opinion on any products or services provided by us or third parties. We have no direct relationship or association with any of the thirs parties who own the websites linked on this page and we do not receive any commission or financial benefit from such third parties for providing such links. The information contained on any of the third party websites linked to this pay may or may not be accurate or relevant to your needs or circumstances. Before acting on this information, you should consider its appropriatness and seek appropriate and independ advice before you make any decisions. For more information on any of our specific products or services, you may wish to read the relevant Terms and Conditions which are available at Bank of Melbourne.com.au

Tips on moving to Australia