Bank Account Articles

Money habits every 30-something should have

Whether you’ve just turned 30 (happy birthday) or you’re planning for the future, there are a few fundamental money habits that every 30-something should have.

How do you deposit change into your bank account?

Most banks will let you deposit change into your bank account by visiting a branch or using a deposit ATM. You may also be able to exchange your loose shrapnel for more manageable banknotes at bank branches and some post offices, though you may be charged a fee.

How long does it take to open a bank account?

The advent of technology means you could have a new bank account up and running in just a few minutes. However, it may take days to receive your bank card in the mail. Additionally, some accounts require a lengthier processing time before they're activated.

Can foreigners open a bank account in Australia?

Opening a bank account in Australia is a relatively simple process which can be started by comparing the different types of bank accounts foreigners can open in Australia. Once you’ve found a bank account that suits your needs, you can start the application process.

Can I open a bank account in another country?

Offshore banking by Australians is entirely possible. It could be for overseas investment, higher interest-earning potential or to access foreign banking services. The process for opening an offshore bank account may differ depending on the financial institution and country in which you’re opening the account.

Can I close my bank account over the phone?

In most cases, you can close a personal or business bank account over the phone. In fact, this is the one of the best ways to ensure you’ve closed an account properly.

Can you deposit money into somebody else's bank account?

One of the easiest banking tasks in the world is depositing money. You can even deposit money into someone else’s bank account if you wish.

Can debt collectors take money out of your bank account?

If you find yourself struggling with an outstanding debt, at some stage you could be contacted by a debt collector. In this situation, remember that both debtors and debt collectors have rights and obligations. For example, a debt collector cannot take money directly from your bank account or salary without a court order.

Can you find your bank account number online?

If your bank offers online services, you should be able to find your bank account number online by logging into your account on your bank’s website and checking your details there.

How do I close a bank account?

Opening a new bank account in Australia is easy, but when you’re trying to close your bank account for good, there could be some extra hoops to jump though.

Can Centrelink access your bank account?

You may have heard stories of Centrelink accessing people’s bank accounts to check on them if fraud is suspected, but is this something it can actually do? 

What is cardless cash?

Can you withdraw cash from an ATM when you don’t have your debit card? It's possible if your account has a cardless cash facility.

Make your finances sustainable: how to decarbonise your money

Australians may be curious to know which financial areas can make the biggest impact if you switch to an environmentally friendly company, so you can decarbonise your money

How do couples split finances?

Finance and romance don’t always go well together, with nearly three quarters of Australian couples clashing over money. There are several different methods available for couples to consider when splitting their finances, each with their advantages and disadvantages.

Some of the best bank accounts for teenagers

There are a range of bank accounts available for teenagers. Let’s view some of the bank options available, and discover how to compare your options.

The pink tax explained: the real cost of being a female consumer

The pink tax refers to the phenomenon of gendered pricing. That is for items targeted or marketed towards women having a higher cost than comparable products targeted towards men. And it is still a common occurrence in Australia.

What is a direct debit?

Direct debit is often the preferred or only way to pay for recurring bills or subscriptions. Find out how to set up a direct debit and the pros and cons of using this payment method.

How to switch banks

If you’re considering switching bank accounts, you may be surprised to learn it’s an easier process than you think. In fact, it only takes four steps, and you could be set up with a new bank account in a matter of minutes.