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How to open a bank account

how to open bank account imageYou can open a bank account online or at your local branch. These two options involve slightly different processes and requirements. While many banks differ in their guidelines, it is commonplace for banks to require more validation of your identity if you are opening a bank account online.  

What do you need to open a bank account?

Follow these steps to open a bank account:

  1. Select your bank account type – for example do you want an everyday transaction account to have your salary deposited into or savings account to help you save for something big?
  2. Fill in and submit your account application form, either online or in branch

Things you should know when opening your account

You'll need your current Medicare, Australian driver's licence or passport details so the bank can verify your identity. Your Tax File Number (TFN) is optional, but if you choose not to provide it, the bank may be required to collect Withholding Tax on the interest you earn. Also be aware that some banks have restrictions, such as being an Australian citizen or permanent resident with an Australian residential address. 

How to open a bank account online

Once you have found the right account for you, simply complete the step by step online application form. Then follow the instructions on how to validate your identity.  

How to open a bank account in branch

To open a bank account at your local branch you will need to provide your personal details along with which account you wish to open. To open an account in your name you must also verify your identity. For more information on what identification you can use to open a bank account with Greater Bank in branch, please refer to our FAQs.

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