How to open a bank account for your Australia working holiday
Opening a bank account is the first real hurdle of any Australian working holiday β and it's where most backpackers lose time and money. You need a local account to get paid, but the big banks often want a local address and an in-branch visit you can't do from a hostel. This guide walks through your options and the fastest path to a working account.
What you need to open an Australian account
For a working holiday visa (subclass 417 or 462), you'll typically need:
- A valid passport
- Your working holiday visa grant
- An Australian or overseas address (a neobank usually accepts your home address)
- A tax file number (TFN) β you can add this within the first weeks, but without it you'll be taxed at the top rate
The 'no fixed address' problem
Traditional banks frequently ask for proof of a local residential address β a catch-22 when you're living in hostels or a campervan. App-based banks (neobanks) verify you with your passport and visa instead, so you can open an account from your sofa back home before you even fly.
That matters because your employer can't pay you until you give them a local account number. Set it up early and your first payday isn't three weeks late.
Get your BSB and account number before you land
An Australian account number comes in two parts: a 6-digit BSB (which identifies the bank and branch) and your account number. Your employer needs both to run payroll. With a digital account you get these instantly on signup, plus a virtual card for spending before your physical card arrives.
Avoid the fees that quietly add up
- Foreign ATM and card fees while you wait for a local card
- Monthly account-keeping fees on some legacy accounts
- Bad exchange rates when family tops you up from home
How Tern helps
Tern is built for working holiday makers: open an account from overseas with just your passport and visa, get a real BSB and account number instantly to hand to your employer, top up from home at the real exchange rate, and pay with no ATM fees. Your physical card ships to your first hostel or share house.
Can I open an Australian bank account before I arrive?+
Yes. A neobank like Tern verifies you with your passport and working holiday visa, so you can open the account from your home country and arrive with your account number ready for your employer.
Do I need a TFN to open the account?+
No β you can open the account first. But apply for your tax file number quickly, because without it your employer must withhold tax at the highest rate until it's added.
How do I get paid on a working holiday?+
Give your employer your BSB and account number. Wages are paid directly into your account on payday. Setting the account up before you start work avoids weeks of delay.
Get sorted before you land
Tern is the neobank built for working holiday life β join the waitlist.
Join the waitlistSources
This guide is general information, not financial or migration advice. Rules and figures change β always check the official sources above.