The best bank for your Working Holiday Visa in Australia
The best setup is two accounts: Wise or Revolut to spend without exchange fees, and a CommBank or Westpac account to get paid. Both banks let you open it before you arrive.
Updated 18 September 2026.
Key points
- You need two things: a multi-currency card (Wise or Revolut) to pay without exchange fees, and an Australian account to get paid.
- CommBank and Westpac let you open your account before you arrive: up to 14 days before with CommBank, up to 12 months before with Westpac.
- Account fees range from AUD 0 to 6 a month, and are often waived under conditions (monthly deposit, age).
- Your super goes to a fund, not to your bank account: remember to claim it when you leave.
Before you leave
A multi-currency card to pay and withdraw in AUD without exchange fees. Wise, Revolut or Monzo.
Once you're there
An account with an Australian bank to receive your salary and link your super.
Most WHV holders use both: the neobank for spending and transfers, the Australian account for salary.
Wise, Revolut or Monzo
- AUD account
- Yes, local AUD details
- Receiving an Australian salary
- Yes, like a local account
- Exchange rate
- Real interbank rate
- Free ATM withdrawals
- AUD 400/month then 2.69%
- International transfer fees
- From 0.19% of the amount
- Card delivery time
- 5 to 10 business days
- Who can open one
- Anyone, entirely online
- Basic plan cost
- Free, card AUD 10 when ordered
- AUD account
- Yes, local AUD details
- Receiving an Australian salary
- Yes, like a local account
- Exchange rate
- Interbank rate on weekdays, marked up on weekends on the free plan
- Free ATM withdrawals
- Monthly cap depending on plan, variable
- International transfer fees
- Included in paid plans, otherwise variable fees
- Card delivery time
- 5 to 10 business days
- Who can open one
- Anyone, entirely online
- Basic plan cost
- Free on the Standard plan
- AUD account
- No — GBP current account, spent abroad fee-free
- Receiving an Australian salary
- Not possible — no AUD account details to give an employer
- Exchange rate
- Mastercard rate, no markup added by Monzo
- Free ATM withdrawals
- GBP 200/30 days outside the EEA on the free plan, then 3%
- International transfer fees
- Not built for sending money abroad
- Card delivery time
- UK residents only, instant in-app card
- Who can open one
- UK residents only
- Basic plan cost
- Free current account
| Criteria | | | |
|---|---|---|---|
| AUD account | Yes, local AUD details | Yes, local AUD details | No — GBP current account, spent abroad fee-free |
| Receiving an Australian salary | Yes, like a local account | Yes, like a local account | Not possible — no AUD account details to give an employer |
| Exchange rate | Real interbank rate | Interbank rate on weekdays, marked up on weekends on the free plan | Mastercard rate, no markup added by Monzo |
| Free ATM withdrawals | AUD 400/month then 2.69% | Monthly cap depending on plan, variable | GBP 200/30 days outside the EEA on the free plan, then 3% |
| International transfer fees | From 0.19% of the amount | Included in paid plans, otherwise variable fees | Not built for sending money abroad |
| Card delivery time | 5 to 10 business days | 5 to 10 business days | UK residents only, instant in-app card |
| Who can open one | Anyone, entirely online | Anyone, entirely online | UK residents only |
| Basic plan cost | Free, card AUD 10 when ordered | Free on the Standard plan | Free current account |
Verified 18 September 2026 on the official Wise, Revolut and Monzo pricing pages. Caps and fees vary depending on the country of card issuance and change several times a year — reconfirm before signing up.
If you want a real AUD account to receive your salary without thinking about it → go with Wise.
If you already use the app daily and want to centralise everything → go with Revolut.
If you're a UK resident and want fee-free spending abroad on your existing current account → keep Monzo as a backup, not your only option in Australia.
Opening an Australian bank account
The four major banks let you open an account online before arrival, with new-arrival status. You apply from home, and verify your identity at a branch on arrival with your passport.
Commonwealth Bank
- Opening before arrival
- Yes, up to 14 days before
- Lead time before arrival
- 14 days maximum
- Account keeping fees
- AUD 4 to 6/month
- Fee waiver
- If deposit ≥ AUD 2000/month
- Regional ATM network
- The largest, around 3400 ATMs
- Identity verification
- At a branch on arrival, passport
- Opening before arrival
- No, on arrival only
- Lead time before arrival
- —
- Account keeping fees
- AUD 4 to 6/month
- Fee waiver
- If deposit ≥ AUD 2000/month
- Regional ATM network
- Around 2300 ATMs, decent regional presence
- Identity verification
- At a branch on arrival, passport
NAB
- Opening before arrival
- No, on arrival only
- Lead time before arrival
- —
- Account keeping fees
- None, as standard
- Fee waiver
- No conditions
- Regional ATM network
- The smallest, around 900 ATMs
- Identity verification
- At a branch on arrival, passport
- Opening before arrival
- Yes, up to 12 months before
- Lead time before arrival
- Up to 12 months
- Account keeping fees
- AUD 5/month
- Fee waiver
- Under 30, student, or deposit ≥ AUD 2000/month
- Regional ATM network
- Around 2800 ATMs with St George and BankSA
- Identity verification
- At a branch on arrival, passport
| Criteria | Commonwealth Bank | | NAB | |
|---|---|---|---|---|
| Opening before arrival | Yes, up to 14 days before | No, on arrival only | No, on arrival only | Yes, up to 12 months before |
| Lead time before arrival | 14 days maximum | — | — | Up to 12 months |
| Account keeping fees | AUD 4 to 6/month | AUD 4 to 6/month | None, as standard | AUD 5/month |
| Fee waiver | If deposit ≥ AUD 2000/month | If deposit ≥ AUD 2000/month | No conditions | Under 30, student, or deposit ≥ AUD 2000/month |
| Regional ATM network | The largest, around 3400 ATMs | Around 2300 ATMs, decent regional presence | The smallest, around 900 ATMs | Around 2800 ATMs with St George and BankSA |
| Identity verification | At a branch on arrival, passport | At a branch on arrival, passport | At a branch on arrival, passport | At a branch on arrival, passport |
Verified 18 September 2026 on the four banks' official pages and on publicly published ATM network figures. Fees and waiver conditions change — reconfirm before opening.
TFN, super and tax
You don't need a TFN to open the account, but without it the bank withholds a maximum tax rate on interest.
Your employer pays super into a fund, not into your bank account. Claim it when you leave.
The Australian tax return is lodged after 30 June.
Your tax refund is paid into your Australian account. Work out how much you get back →
What order to do things in
- 1Order your Wise or Revolut card 2 to 3 weeks before you leave.
- 2Prepare the documents to open your Australian account online.
- 3Open your CommBank or Westpac account before you leave if possible.
- 4Verify your identity at a branch as soon as you arrive with your passport.
- 5Transfer large sums rather than several small transfers.
Before your first pay, apply for your TFN: without it, 45% of your pay goes in tax. Apply for your TFN →
Frequently asked questions
Keep my home account + Wise/Revolut card, or open a real Australian bank account?
The two are complementary, not exclusive. Keep your home account as a base and a Wise or Revolut card for your daily spending in Australia — they avoid excessive exchange fees. Once you're there, opening an Australian bank account (Commonwealth Bank, ANZ, NAB) is still useful to receive your salary directly in AUD without conversion, and for some local processes (lease, certain employers) that prefer a standard Australian BSB.
How does receiving an Australian salary work with these neobanks?
Wise and Revolut can give you local Australian bank details (BSB + account number) linked to your AUD account, which you give directly to your employer as if it were a standard Australian account. Your salary then arrives directly in Australian dollars, with no conversion fee going in — you then choose when and whether to convert it back to your home currency.
What hidden fees should you watch out for with Wise or Revolut?
The main trap: caps. Wise and Revolut generally apply a monthly free ATM withdrawal amount, beyond which a commission applies. With Revolut, the interbank rate is only guaranteed on weekdays — a slight markup applies on weekends on the free plan. Also check the exchange fees beyond a certain monthly converted volume, which can apply on free accounts.
Does Monzo work in Australia?
Yes for spending, no for getting paid. Monzo is open to UK residents only and gives you a GBP current account, not Australian bank details, so an Australian employer can't pay your salary into it. Card payments in Australia go through at the Mastercard rate with no markup added by Monzo, and ATM withdrawals are free up to GBP 200 every 30 days outside the EEA on the free plan, then 3%. Keep Monzo as a backup card, and use Wise or Revolut plus an Australian bank account for your salary.
What to do if your card is lost or stolen abroad?
Freeze the card immediately from the Wise or Revolut app — it's instant and free. You can then order a replacement card directly from the app, or switch to a virtual card while you wait to receive it. Always keep access to a second card or a second payment method during your WHV, in case your account is temporarily frozen for security checks.
Do you need a TFN before opening a bank account?
No, you can open a Wise, Revolut or even an Australian bank account before having your Tax File Number. However, the TFN becomes essential as soon as you start working and earning a salary: without it, your employer will withhold a maximum tax rate on your pay. Apply for your TFN as soon as you arrive on the ATO website, it takes a few days.
Can you open the account before leaving or only once you're there?
Wise and Revolut can be opened entirely online even before you leave home — it's actually recommended so you have your card in hand as soon as you arrive. A standard Australian bank account generally requires you to be physically in Australia to verify your identity, even though CommBank and Westpac let you start the application remotely.
Track your spending, your budget and your income in one place with the 88mates app.