Day two in Australia. You've landed, survived the airport, somehow found your Airbnb at 11pm, and slept for 14 hours. Now you're sitting in bed with your phone, googling "how to open a bank account in Australia" because your employer just texted asking for your bank details.
You have approximately zero Australian bank details to give them.
This is the moment most backpackers discover the problem nobody put in the FAQ. Australian banks need an Australian address. You don't have a permanent one. Cue mild panic, three browser tabs, and a WhatsApp message to the group chat asking if anyone's figured this out yet.
Spoiler: yes. And it's actually very easy. Here's everything you need to know.
Why you need an Australian bank account immediately
Let's be clear about why this is urgent. Australian employers won't — and legally can't, in most cases — pay you into a foreign bank account. The moment you start any job, you need a local account. But there's a bigger reason too: without a Tax File Number and a bank account, you get taxed at 47% on any earnings. That's not a typo. 47 percent. Gone before you even see it.
Get the bank account sorted in your first 48 hours and you're set up to actually earn properly from day one.
Employers who can't pay you into an Australian account may resort to cash in hand — which means no payslip, no super contributions, and no proof for your 88 days if you need them later. Set up the account first.
The address trick — the one thing nobody tells you
Here's the problem and the solution in two sentences: Australian banks require an Australian address to open an account. Your hostel, Airbnb, or any temporary accommodation address works perfectly fine.
That's it. That's the whole trick.
You don't need a long-term lease. You don't need a utility bill in your name. You don't need a permanent address at all. Just write down wherever you're sleeping for the first week — the full address of the Airbnb, the hostel, your mate's place — and use it as your residential address.
Banks don't verify it. They're not calling your Airbnb host. They just need something to put in the system. Once you move somewhere more permanent, you update it in the app. Takes 30 seconds.
Write down your full accommodation address the moment you check in — street number, street name, suburb, state, postcode. You'll need it for your bank account, your TFN application, and your SIM card. Having it saved means you're not squinting at the Airbnb booking email at 9am in a loud cafe.
Up Bank vs CommBank — which one should you pick?
For most backpackers in 2026, the choice comes down to two options. Here's the honest comparison:
| Bank | Setup time | Monthly fees | Best for |
|---|---|---|---|
| Up Bank Recommended | 5 minutes, online | $0 forever | Most backpackers — fast, modern, zero fees |
| CommBank Solid choice | 15 min online or in branch | $0 (with conditions) | People who prefer branches and a big ATM network |
| NAB | 15-30 min online | $0 (Base account) | Fine, no strong reason to pick over the others |
| Westpac | Online or branch | $5/month (waivable) | Skip it — there are better free options |
Up Bank — the one most backpackers end up with
Up Bank is a fully digital Australian bank with genuinely zero monthly fees, a brilliant app, and instant setup. You open it entirely from your phone, get a virtual card in Apple Pay or Google Pay within minutes, and your physical card arrives at your address within a few days.
The app is honestly excellent — clear spending categories, instant notifications, easy transfers. It's built for people who move around a lot and don't want to deal with bank branches. For most Working Holiday Visa holders, this is the right choice.
CommBank — if you want a traditional bank
Commonwealth Bank is the biggest bank in Australia and has the widest network of branches and ATMs. If you're uncomfortable with fully digital banks, CommBank is your best bet among the traditional options. You can open the Everyday Smart Access account online and — unusually for Australian banks — you can actually start the process up to 14 days before you arrive in Australia.
The account is fee-free when you deposit at least $2,000 per month, which most working backpackers will easily meet.
Step-by-step: opening Up Bank in 5 minutes
Download the Up Bank app
Available on iOS and Android. Search "Up Bank" — it's the one with the yellow icon. Australia only, so if you're still at home you won't see it in your app store.
Create your account
You'll need your passport details and your Australian address (use your hostel or Airbnb address). The whole signup process takes about 5 minutes if you have your documents ready.
Verify your identity
Up Bank uses a quick video selfie check — you hold up your passport and they verify it digitally. Fast, no branch visit needed. Usually approved within a few minutes.
Get your BSB and account number
The moment you're approved, you'll have a BSB number and account number. This is what you give employers. You can also add the card to Apple Pay or Google Pay immediately and start spending before your physical card arrives.
Physical card arrives in 3-5 days
Posted to your address. If you're moving accommodation before it arrives, update your address in the app first. Or use your digital card in the meantime — contactless payments work from day one.
What about Wise — do I need that too?
Short answer: yes, and it serves a different purpose.
Wise is for converting and moving money between currencies at the best possible rate. Think of it as your bridge between your home bank and Australia. You load it in euros, pounds, or whatever currency you have, and spend in AUD without getting killed by exchange rates.
Up Bank or CommBank is your Australian everyday account — where your wages go, where you pay rent from, where you build up your Australian financial life.
You'll want both. Wise gets you through the first week until your Australian account is set up. After that, your employers pay into Up Bank and you use Wise only when you want to send money home or convert foreign currency.
Common questions
Do I need my TFN before I can open a bank account?
No. You can open a bank account without a TFN. Apply for your TFN separately on the ATO website (free, takes 10 minutes) — it just arrives by mail in 10-28 days. Give it to your employer when it arrives and they'll adjust your tax rate accordingly.
What if my card hasn't arrived and I need to get paid this week?
Give your employer your BSB and account number — the physical card is irrelevant for receiving wages. The money will be deposited regardless. Use your digital card in Apple Pay or Google Pay for spending in the meantime.
Can I open an account before I arrive in Australia?
CommBank is the main option that allows this — up to 14 days before arrival. Up Bank requires you to be in Australia because of the identity verification process. If you want to get ahead, CommBank is worth setting up from home.
What is a BSB number?
BSB stands for Bank State Branch — it's a 6-digit code unique to each bank branch that tells the banking system where to send money. You'll always need BSB + account number together when giving payment details to an employer or setting up a transfer. It's the Australian equivalent of a sort code in the UK or routing number in the US.
What if I'm not using a hostel — I'm staying with a friend?
Use your friend's address. Same rules apply. Just make sure you give the full address including postcode. If you're in a van or campervan situation — which happens, no judgement — use the address of a hostel or pub you're parked near, or ask a contact if you can briefly use their address. Once your card is set up you can update it to anywhere.
Open Up Bank on your phone using your accommodation address. Takes 5 minutes. You get your BSB and account number immediately. Physical card in 3-5 days. Separately apply for your TFN on ato.gov.au. Done.
One last thing about superannuation
When you're setting up with your first employer, they'll ask which super fund you want to use. This is important because your employer is legally required to pay 11.5% of your wages into a super fund on top of your normal pay — and you can claim all of it back when you leave Australia.
Choose AustralianSuper, HostPlus, or REST — any of them are fine. Just pick one and use it for every job so all your super ends up in one place. When you leave Australia, apply for the Departing Australia Superannuation Payment (DASP) and get every cent back. Most backpackers skip this step. Don't be most backpackers.
We cover super in much more detail in Step 24 of the main guide.