As a student in Australia, managing your finances can be challenging, especially with the high cost of living. However, having a reliable bank can make a big difference. In this article, we’ll explore the best banks for students in Australia, taking into account factors such as accessibility, convenience, and affordability.
Table of Contents
- Introduction
- What to Look for in a Student Bank Account
- Top Banks for Students in Australia
- Commonwealth Bank
- Westpac
- ANZ
- National Australia Bank (NAB)
- Bank Australia
- Online Banks for Students
- Up Bank
- 86 400
- Credit Unions for Students
- Teachers Mutual Bank
- UniBank
- Tips for Choosing the Right Bank for You
- Conclusion
- FAQs
Introduction
Choosing the right bank as a student is essential to managing your finances effectively. A good student bank account should offer features such as low fees, easy accessibility, and online banking services. It should also provide options for overdraft protection, credit cards, and student loans. In this article, we’ll take a look at some of the best banks for students in Australia.
What to Look for in a Student Bank Account
Before we dive into the top banks for students in Australia, it’s important to know what to look for in a student bank account. Here are some key factors to consider:
- Low or no monthly fees: Student bank accounts should have little to no monthly fees, so you can focus on your studies without worrying about added costs.
- Easy accessibility: Look for a bank that has multiple branches and ATMs on or near your campus.
- Online banking services: Choose a bank that offers online banking services, so you can easily manage your finances from your phone or computer.
- Overdraft protection: Find a bank that offers overdraft protection, so you don’t get hit with costly overdraft fees.
- Credit cards and student loans: Consider a bank that offers credit cards and student loans, so you can start building your credit score and financing your education.
Top Banks for Students in Australia
Here are the top five banks for students in Australia, based on accessibility, convenience, and affordability:
Commonwealth Bank
The Commonwealth Bank of Australia is one of the largest banks in Australia, with over 1,000 branches and 4,000 ATMs nationwide. Their Student Smart Access account comes with no monthly account fees, unlimited electronic transactions, and 24/7 access to online banking services. Commonwealth Bank also offers student credit cards and personal loans with competitive interest rates.
Westpac
Westpac is another popular bank in Australia, with over 800 branches and 2,000 ATMs across the country. Their Choice Student account comes with no monthly account fees, unlimited electronic transactions, and 24/7 access to online banking services. Westpac also offers student credit cards and personal loans with competitive interest rates.
ANZ
ANZ is a popular bank in Australia, with over 800 branches and 2,700 ATMs nationwide. Their ANZ Access Advantage account comes with no monthly account fees, unlimited electronic transactions, and 24/7 access to online banking services. ANZ also offers student credit cards and personal loans with competitive interest rates.
National Australia Bank (NAB)
National Australia Bank (NAB) is one of the largest banks in Australia, with over 600 branches and 2,400 ATMs across the country. Their Classic Banking account comes with no monthly account fees, unlimited electronic transactions, and 24/7 access to online banking services