Get your finances sorted before semester starts (so you can focus on the fun stuff)

Get your finances sorted before semester starts (so you can focus on the fun stuff)

Moving to Sydney for Uni or starting your first year? Opening a student bank account is one of those admin tasks that feels overwhelming - but it doesn't have to be with Commonwealth Bank. Whether you're studying near Sydney Uni, near UTS, or anywhere in the city, getting your banking sorted early means one less thing to stress about when semester kicks off.

The good news? You can knock this out in one afternoon at Broadway Sydney, conveniently located near Central Station and just 5 minutes from campus. Here's everything students need to know about opening a bank account in Australia, plus the perks that actually matter.

Why Students Need an Australian Bank Account

If you're new to Australia or just starting Uni, having a local bank account makes student life easier:

Get paid faster – casual jobs, internships, and government payments (like Youth Allowance) need an Australian bank account

Pay rent and bills – landlords and utilities expect direct debit from a local account

Skip international fees – using overseas cards for everyday purchases adds up fast

Access student discounts – many retailers and services (including shopping near Glebe and shopping near Newtown) offer student deals linked to Australian bank accounts

What You'll Need to Open a Student Bank Account

Most Australian banks make it easy for students to open accounts, especially if you're under 30. Here's what to bring:

For Australian Students:

Photo ID (driver's license or passport)

Proof of address (utility bill, lease agreement, or Uni enrollment letter)

Tax File Number (TFN) - optional but recommended to avoid higher taxes on interest.

For International Students:

Passport with valid student visa
Confirmation of Enrollment (CoE) from your university
Overseas address and Australian address (even if temporary)

Pro tip: Many banks let international students open accounts before arriving in Australia—check online portals so your card is waiting when you land.

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Student Banking Features That Actually Matter

$0 Monthly Fees (if you're under 30)

Most major banks waive monthly account fees for students under 30. Commonwealth Bank's Everyday Smart Access account, for example, charges no monthly fees if you're under 30 or deposit $2,000+ per month.

Fee-Free ATM Access

Look for banks with large ATM networks so you're not paying $2-$3 every time you need cash. CommBank has Australia's largest bank-owned ATM network, which is handy when you're shopping near Central Station or grabbing lunch near UTS.

Mobile Banking Apps

Your banking app should make it easy to check balances, transfer money, and split bills with friends. Commonwealth Bank's app includes Money Plan—a tool that tracks spending and helps you budget (especially useful when Tight A$$ Tuesdays tempt you with 2-for-1 deals).

Student Discounts & Cashback

Some banks partner with retailers to offer cashback or discounts. For example, eligible CommBank customers can access offers through CommBank Yello at places like Chemist Warehouse, JB Hi-Fi, and more—perfect for students shopping at Broadway Sydney shops or Sydney retail stores nearby.

International Money Transfers

If you're an international student or need to send money home, check transfer fees and exchange rates. CommBank offers $0 transfer fees and better FX rates for new customers opening their first Everyday Smart Access account.

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Your Student Banking Checklist

Make it easy on yourself—here's the step-by-step:

Gather your documents (ID, proof of enrollment, address)
Choose your bank (look for $0 fees, good app, ATM access)
Open your account (online or in-branch at Broadway Sydney)
Activate your card (usually via the app)
Set up mobile banking (add your card to Apple Pay or Google Pay)
Link to student platforms (Centrelink, university portals, casual job payroll)

Time-saver: Do this before semester starts so you're not scrambling in Week 1.

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Make Banking Part of Your Broadway Trip

Opening a student bank account doesn't have to be a separate errand. Swing by Commonwealth Bank at Broadway Sydney, sort your banking in 20 minutes, then enjoy everything else the centre has to offer:

Grab lunch near Sydney Uni at the Broadway food court
Make sure you mobile phone is set up and ready to go
Stock up on stationery and tech at JB Hi-Fi, Kmart, or Target
Shop fashion stores Broadway Sydney is known for - Glassons, Supre, Universal, and more
Treat yourself to a coffee and study session at one of Broadway's cafes

Why Broadway works for students: You're already near Central Station, near UTS, and near University of Sydney. Why make multiple trips when you can handle banking, shopping, and food in one convenient stop?

Student Banking Made Simple: Your Guide to Opening an Account Near Campus