There are four major banks in Australia; Commonwealth Bank, ANZ bank, Westpac and
National Bank. There are smaller banks and some credit unions also.

To open a bank account in Melbourne, you will need to identify yourself. Usually, you need to
score 100 points using different types of id. A passport and a driver license should do the
100 points. You might need a small deposit also to open the bank account.

You need to be present in most cases to open a bank account in Melbourne.

Once you open a bank account in Melbourne, you can have your ATM banks cards and
access your account via the Internet.

There are many attempts to steal ATM cards, so be careful when you use yours. Watch for
strange devices on ATM machines. Be careful with suspicious.

Australia’s big four banks may rank among the most profitable in the developed world. The
Australian banks expansion into Asia has put Australia and New Zealand Banking Group at
the top of the list for Australia’s most valuable bank brands, however the bank’s global rank
held steady from last year at 39, with a brand value of $6.8 billion.

The Commonwealth Bank of Australia comes in second among Australian bank brand value
and is ranked 42nd in the world, up two places from last year, worth $6.3 billion.

National Australia Bank is Australia’s third most valuable bank brand. Westpac Banking
Corp, last among local banks brand wise.

The market dominance of the big four in Australia has seen them ranked among the
developed world’s most profitable for the last three years. According to figures published by
the Switzerland-based Bank for International Settlements pre-tax profits for the big four
were equal to 1.18 per cent of their total assets.

Australia’s economy has remained relatively shielded from the GFC in 2008 thanks to the
mining boom. However, a slowdown in credit growth has forced lenders to embark on cost
cutting, including job losses.
Check open a bank account in New York.



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