this post was submitted on 09 Apr 2025
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AusFinance

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We’re working on setting up the ability to spend money easily in Australia. We’re looking at Wise for transfers and starting to live in Aus. As we roll into collecting pay, are there any banks or credit unions that are recommended or actively discouraged from using?

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[–] [email protected] 4 points 2 weeks ago (1 children)

My wife is also an immigrant. Welcome! It's a fine country.

Immigrants are overwhelmingly welcome, as that is the bulk of the country if you go back only a handful of generations.

Most banks are assholes like anywhere in the world. Try building societies, or smaller banks.

Which state are you immigrating to? That could help.

[–] [email protected] 1 points 2 weeks ago

We’re going be calling Queensland/Brisbane home. Still sussing out which suburbs will fit our educational and proximity to work needs.

So far general consensus says look more into the credit unions. That would be an easier jump for us, since we’ve been with one for a lifetime here.

We’ve seen recommendations for Commonwealth Bank of Australia as a way to get started easily and then possibly move to a more permanent provider.

[–] [email protected] 2 points 2 weeks ago

Ubank is solid at the moment. Good interest if you deposit $500 a month. Okay app. Get a bank card. You get three accounts to manage your money - save, spend, bills. No account fees.

[–] [email protected] 2 points 2 weeks ago* (last edited 2 weeks ago)

If you're moving from USA, then irrespective of whether you intend to stay in Australia, or return to the US, get tax advice about 401k/roth/australian superannuation. It's a problem either way.

And pray your orange fuckwit doesn't keep outfuckwitting himself.

Imagine if you were trying to transfer your money from one country to another recently, you could have easily lost 30%, simply because of the time it takes to withdraw, transfer and convert your money.