On-campus there is the ANZ
Bank and the Commonwealth Bank
of Australia (CBA for short).
Both banks offer special accounts
for tertiary students and various
investment opportunities for
you to consider.
Location and Opening
hours
• ANZ - Quadrangle building,
next to the University Bookshop
in the Lower Campus
• CBA - behind the library
in the Upper Campus
Most banks open from 9am to
4pm from Mon-Thurs and till
5pm on Friday. All are closed
on weekends.
What you might need to
bring with you
• Passport
• Bank draft or money order
- it takes time for it to clear,
so do this as soon as possible
• COE or letter of offer from
UNSW
• Your Sydney contact number
and mailing address - if you
are currently staying in a temporary
accommodation, you can use the
International Student Services
(ISS) office address, and update
your particulars at a later
date.
What you can apply for
• Keycard (aka ATM card)
• Credit card - the usual credit
card terms and conditions apply
• Cheque book
• Term deposit accounts - similar
to our fixed deposits, but offering
higher interest rates
What you need to know
• FTPOS - similar to our NETS
system, but the bonus is that
you can withdraw cash as you
are paying for your purchases.
It is somewhat similar to the
cash-out system that we have
in Singapore
• Most banking transactions
(e.g. withdrawals, issue of
cheque) carry a small charge
or fee - however, CBA offers
a waiver of those fees for students
holding the CBA tertiary account,
and ANZ offers a limited number
of free withdrawals if you deposit
more than AUD$10,000 with them
• UNSW uses CBA to collect
the school fees - for students
with an account with CBA, simply
bring along the school fees
invoice to CBA, fill out the
withdrawal slip, and a payment
transfer will be made at no
charge
• You must fill in either a
withdrawal or deposit slip when
necessary - if you don't, most
tellers will tell you to fill
them in beforehand and rejoin
the queue. TIP: grab a couple
of these forms home and fill
them out before you go to the
bank
• Tax File Number (TFN) - it
is best to obtain the TFN and
submit it to the bank once you
have received it in the mail,
or else you may be subject to
high tax charges. Details of
the application for the TFN
can be obtained from the ISS
office.
• Customer service - in my
opinion, slowly improving, but
still a long way ahead of them
in reaching the high standards
and efficiency that Singapore
banks possess.
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