Ozzie Bank accounts

[bransm]

I'm getting to the point where having a bank account in Australia would be handy.

I normally trade though Access and have had a look at their account,thou just wondered if any of you guys have something better or any bad stories to tell?

I'll use the account just for trading shares,thou it would be nice to have an account over there for holidays,it's not important factor thou.

cheers

Bryan

[lambton]

Have a look at the Macquarie AUD account which can be opened thru contacting Macquarie NZ. No fees, some interest, cheque account. Biggest drawback is this is not an eftpos type of account. Use it to write chgs for big ticket items.

[TheBossMan]

I use ASB's Foreign currency account. No fees for conversion and quite handy if you want to make a few $$ under short-term fluctuations.

[Lawnmower]

I use Access AUD account & have no problems, as I have cuzzy bros over there, I can ask Access to put funds directly into someones real Ozzy bank account, for when I need spending money.

[OldRider]

I have had BNZ Australia cheque account with NAB in Sydney for many years,think you need a minimum balance, not sure of amount but don't think it's too large, a thousand or two dollars,to be free of charges.I opened it from a BNZ branch locally.

Free cheques,free Ept-pos for when we are over there for the annual winter jaunt to the sunshine,can be used in NZ machines as well if needed,a small charge at non NAB money machines. About 1% interest paid. We get all ASX divs paid to this account,and find it useful and inexpensive when taking up new issues etc to use the cheques. Locally there is a freepost number in Wellington if you do get an Aust cheque to deposit.

Unable though to transfer directly from ASB Securities ASX account to this account. A cheque will do this the other way easily.

Accounts elsewhere can give higher interest,but this has been totally hassle free,so I just stick with it.

Old rider you can keep just your minimum balance there and transfer by computor or phone into an ING Direct account and get 5.25% with no hassles. I use this linked with an ANZ account and average about $100.00 a month in interest.

[OldRider]

Enigma: Thanks for info, I had an idea I could do something like you suggest using Internet,and did have a brief look to see if I could set up on net,but hadn't worked out how. Did you get it organised over the net, or was it necessary to do phone/mail/visit.

[southernman]

quote:Originally posted by OldRider

I have had BNZ Australia cheque account with NAB in Sydney for many years,think you need a minimum balance, not sure of amount but don't think it's too large, a thousand or two dollars,to be free of charges.I opened it from a BNZ branch locally.

Free cheques,free Ept-pos for when we are over there for the annual winter jaunt to the sunshine,can be used in NZ machines as well if needed,a small charge at non NAB money machines. About 1% interest paid. We get all ASX divs paid to this account,and find it useful and inexpensive when taking up new issues etc to use the cheques. Locally there is a freepost number in Wellington if you do get an Aust cheque to deposit.

Unable though to transfer directly from ASB Securities ASX account to this account. A cheque will do this the other way easily.

Accounts elsewhere can give higher interest,but this has been totally hassle free,so I just stick with it.

[southernman]

Sorry, stuffed up with first attempt.
I dont believe that the option is any longer available to open a BNZA Acc.
In fact, I believe all branches of the BNZA have been closed, and it is all administered by the NAB.
I have had an Acc with the BNZA for a number of years, but do not think that there is any advantage in keeping it open any longer.
Money is easily transfered via the credit card system.
They only issue a Flexi Card, which is a type of Eft-Pos card, so can not be used to purchase, say via the net.
The amount required to avoid a service fee of A$2.00 a month is A$500.00.






quote:Originally posted by southernman


quote:Originally posted by OldRider

I have had BNZ Australia cheque account with NAB in Sydney for many years,think you need a minimum balance, not sure of amount but don't think it's too large, a thousand or two dollars,to be free of charges.I opened it from a BNZ branch locally.

Free cheques,free Ept-pos for when we are over there for the annual winter jaunt to the sunshine,can be used in NZ machines as well if needed,a small charge at non NAB money machines. About 1% interest paid. We get all ASX divs paid to this account,and find it useful and inexpensive when taking up new issues etc to use the cheques. Locally there is a freepost number in Wellington if you do get an Aust cheque to deposit.

Unable though to transfer directly from ASB Securities ASX account to this account. A cheque will do this the other way easily.

Accounts elsewhere can give higher interest,but this has been totally hassle free,so I just stick with it.

Oldrider it can be set up over the net but you have to post or Fax them copies of the completed forms you print out. But you must have an ordinary Australian account to work in conjunction with it they either debit or credit your existing account so that eliminates all the identity checks. Give me an email and I will return a Phone Number if you want more information.

[kiwi_on_OE]

I've got a BNZA account too, but I wouldn't be surprised if it's no longer possible to open one. Have a look at their website, it looks very business oriented to me. Southernman, thanks for the info about limits on the account, I've been wondering about that, and it's a bit tricky to find out about it from the UK, especially when they don't reply to emails! Enigma, thanks for your info too, I was about to try ING too. They seem to be doing the same thing in a number of countries, including the UK.

[devito]

a citibank account pays 5.4% on call. Go to www.citybank.com.au to apply online. You get mucked around initially, but once the account is up and going it works well.

Aspex ASB would not help when I did it. ANZ did but there was only one branch and one person in that branch in Queen street Auckland that could.

[kiwi_on_OE]

ING Direct Aus - I've just tried to open an account with this bunch, they've said it can only be opened by Aus citizens/residents. I'll keep you posted if I'm eventually successful.

[Morch]

Try HSBC.com.au on line account min au$2000 to open after that balance does not have to be maintained. They will accept certification of 100 point check from NZ branches which are only in Auckland and Christchurh.

AU banks now require account applicants to present themselves with ID at counter in AU for 100 point check now. so HSBC and MacQuarie are the only exceptions. Mc Bank want AU$5000 min.

Regards
Morch :)