Banks

Commonwealth Bank

NAB Bank

ANZ Bank

Westpac Bank

In Preston, you can find quite a number of banks and the most notable one is Westpac Bank, because they are the only bank which operates on Saturday and in-terms of service they are one of the best. I’ve open 3 accounts at Westpac Bank. Why 3 accounts? Well, the banking system in Australia is a little bit different. For an overseas student like me, we need a bank account to safekeeping our money. To keep your money safe with interest and have access of the ATM then, you need a main account (Westpac eSaver Account) for you to keep your money with interest but there is no ATM service for this account. Then you need another account which can let you withdraw money whenever you needed (Westpac Choice Student Account). And since you are doing a lot of withdrawal with this account so, they don’t provide interest for this account. However, you can transfer money from your eSaver to Choice account online. The 3rd one is the fix deposit account (Term Deposit Account). They provide short term and long term fix deposit account. Well, I manage to get a 4.200% interest rate for a period of 4 months and that’s pretty high.