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LEASING: UNIsity
Information and Links
Banking and Money
Tax
Seeing Melbourne
Specialty Foods and Eating
Useful Links
Banking and Money:
Banks
Banks are the safest places in Australia for keeping your money. Bank funds are guaranteed by the Reserve Bank of Australia. Other financial institutions including credit unions, building societies, finance companies, life insurance companies and merchant banks are popular and provide similar services to the larger banks.
It is best to open a bank account immediately after arriving. It's easier to open an account when you have a permanent address so if there will be just a short delay before you move to your permanent accommodation, it might be better to open an account then.
Bank opening hours:
Monday - Thursday 9.30am - 4.00pm
Friday 9.30am - 5.00pm
Some banks open for a few hours on Saturdays. Most banks are closed on weekends and on public holidays.
Some of the popular/larger financial institutions are:
ANZ
Bendigo
Commonwealth
HSBC
National
Westpac
How to open an account
To open a bank account you need to include your personal details such as your name and address. You will be required by law to complete a form that asks:
- The name you wish the account to be in (normally your own name)
- The name and residential address of any people who will be permitted to withdraw money from the account (these are called the 'signatories') in addition to yourself. If you are opening the account for yourself, usually there are no other signatories.
To open an account, you are also required to show your passport and one other form of identification such as:
- An overseas driving license
- Credit cards
- Your Student ID card
Most banks will accept your passport only up to six weeks after your arrival in Australia.
Students are also advised to supply a Tax File Number (TFN) shortly after opening an account - see the link further down this page.
Bank fees
Banks charge fees for various services and for transactions in your account. However, many banks exempt full-time students from fees. You should ask the bank if they waive the charges for full-time students before opening an account. Most banks calculate interest on your daily balance and pay it to your account quarterly The higher your daily balance, the more interest you earn. All interest earned on savings in Australian banks is taxed by the government.
Account types
Generally, there are two types of accounts:
- Everyday accounts
- Investment or passbook accounts
An everyday account provides you with an ATM (automatic teller machine) card for use at 24-hour ATMs or in store EFTPOS facilities. EFTPOS (Electronic Funds Transfer at Point of Sale) was quick to become the preferred method of payment for businesses and customers alike, thus is widely accepted throughout Australia. It saves people from carrying around large sums of cash and offers a safe and secure way of making payments. Students should contact their Australian bank to check the fees and charges associated with using this method of payment.
A passbook account is useful if you have large amounts of money because it pays a higher rate of interest, but doesn't usually have an ATM card.
Major credit cards are also widely accepted throughout Australia and offer the convenience of easy payments in person, or over the phone or Internet. Students should contact their Credit Card dealer for fees, conditions, and the interest rate in order to keep spending under control.
Tax:
Paying tax in Australia
International students are treated the same as Australian residents when it comes to paying tax. Once you have been in Australia for more than six months you are considered "a resident for tax purposes".
Tax File Numbers
Every adult in Australia is required to have a Tax File Number (TFN). In order to obtain a Tax File Number, you must complete a TFN application form. Application forms are available from the International Office on your campus, from post offices or from the Australian Taxation Office.
You will need to give information (with proof) such as:
- Your name and date of birth
- Current Australian address (a bill, bank statement or accommodation lease agreement will show this)
- Date of arrival in Australia
- Proof of identity (documents to be examined by the Tax Officer)
- "Proof of identity" documents include:
- Your passport
- Original birth certificate
- Overseas or Australian drivers licence or
- Your Student ID card (issued to you on enrolment day)
Seeing Melbourne:
In Footscray, you will have plenty to do, whether it’s enjoying a picnic in the beautiful Footscray Park, the second largest botanical garden in Victoria or taking a quite stroll along the Maribyrnong River. Only minutes from Footscray in the neighbouring suburb of Flemington, is the Flemington Racecourse, the home of the Melbourne Cup and the Spring Racing Carnival.
Footscray is also home of the Western Bulldogs, an Australian rules football team which plays in the Australian Football League. You can watch the team train as well as various other sporting events at the at the Whitten Oval.
The nearby Footscray Public Library is a large public library with a large range of services and facilities for members. These services include orientation tours, reference and information services to assist with research needs and introduction to the internet classes.
The city of Melbourne (only a 10 minute train ride from Footscray) also has so much to offer to everyone, contributing to its title as the world’s ‘most liveable city’. From the best-developed sporting facilities, including the city’s Telstra Dome and Rod Laver Arena, to the Melbourne Zoo or Aquarium, to the boutiques specialising in Australian and international designers, and jewellery and accessories. Alternatively, if you are interested in the arts, the City holds a diverse collection of galleries and museums, not to mention the numerous events and festivals at Federation Square. No matter who you are, there is something of interest for everyone in the City of Melbourne.
Specialty Foods and Eating:
With Melbourne being one of the most diverse and multicultural cities in the world, there are many restaurants and cafés with a variety of different cuisine. Footscray offers a wide range of culinary delights. Restaurants in Footscray are mostly Vietnamese or Chinese, however there are many Italian, Greek, East African cafes and Indian restaurants. There also exists various pubs that serves modern Australian food.
The Footscray Market is a fresh produce and seafood market, catering particularly to the various ethnicities and local restaurants. Another large market in Footscray is Little Saigon, which opened in 1992 to cater to the growing Asian population, but now has customers from all backgrounds. Little Saigon is noisy and crowded, boasting a wide array of tropical fruits and Asian produce.
Only a short tram ride outside of Footscray is the Docklands with its striking city views and spectacular waterfront, and of course all around the City centre.
Useful Links:
Melbourne has been known as Australia’s top festival and events city. Major city events that have made their mark in Melbourne’s history include The Australian Open Tennis, Moomba Waterfest, Melbourne Food and Wine Festival, Melbourne International Comedy Festival, Melbourne Cup Carnival, just to name a few. For information on what is on in Melbourne, visit:
www.melbourne.vic.gov.au
www.thatsmelbourne.com.au
www.onlymelbourne.com.au
www.melbourne.citysearch.com.au
For information and timetables of public transport, visit:
www.metlinkmelbourne.com.au
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