Australian Bank recommendation

[gkroo 61]

I need to open a new bank account in Oz on my next visit down under and was wondering about some good feedback from members with regards to which bank has the best internet banking service,customer service and also what are the current international internet maximum cash transfers allowed,still $10,000 per day ?? and what about normal T/Ts ? is their a restriction on these ? P.S I am an Australian citizen but resident in Thailand. Thanks for any kind feedback.

[Lantern 454]

gkroo you can forget banks in Australia they are all ******. I use https://ib.summerland.com.au/

[LosLobo 92]

I have had a successful relationship with HSBC but I think most banks/credit unions are viable. 
There is no limit to the amount that you can transfer including T/T's.
But Austrac requires banks etc to report transactions exceeding the $10k threshold.

 

http://www.austrac.gov.au/threshold-transaction-reports-ttrs#reporting-obligations

 

Also be mindful that transferring money out of Thailand is not necessarily as easy as your home country. Be prepared and have a plan in place to enable you to repatriate your funds if needed.

Edited Tuesday at 05:08 AM by LosLobo

[simple1 9,569]

An outcome of the Recent Royal Commision into Oz banks identified Westpac and Macquarie Bank as the least tainted. Personally I respect Macquarie Bank.

[gkroo 61]

Interesting "simple1" as I was leaning towards Westpac ?

[MikeN 278]

I can say that Westpac’s internet transfer to Thailand is probably the best I have tried, and their call line was quick and effective the two times I have had to call. One thing to check is “will the bank send SMS security codes to a foreign phone number” As of mid last year Westpac would only send to an Aus number, but I still have my Telstra phone number so no problem for me.

[LosLobo 92]

1 hour ago, MikeN said:

One thing to check is “will the bank send SMS security codes to a foreign phone number” As of mid last year Westpac would only send to an Aus number, but I still have my Telstra phone number so no problem for me.

HSBC, Commonwealth Bank etc will supply a security token device making an SMS unnecessary.

[simple1 9,569]

9 hours ago, LosLobo said:

HSBC, Commonwealth Bank etc will supply a security token device making an SMS unnecessary.

As does Westpac

 

https://www.westpac.com.au/faq/security-devices/