A couple questions about bank accounts in Oz.
Hello, and thank you any one who replies. I am very close to leaving for my trip to Australia. I have managed to find out almost everything I wanted to know ahead of leaving, except banking.
My questions are these:
1) I know as a backpacker, if you set up the account within 6 weeks of arriving, its quite easy. What I am curious about, is how long does it take to be issued your bank card?
2) I have been told you can just use the hostel address as your own for account set up. But, I only plan on being in Sydney for 4 days or so before heading to Brisbane. Is it better for me to use the address of the Brisbane hostel, or the Sydney one I will be at for the few days I'm there?
3) Sadly my credit is in rough shape right now due to a few mistakes a few years back. I won't be traveling with a bank issued visa card from Canada. I'm curious about pre-paid credit cards down under. Again I have found most of the information about them, but it seems that if you want to buy one with a higher balance, say $500-$1000, you have to do it through the mail. Is that so? Or can bank branches issue the higher limit ones on the spot?
4) Lastly, if I were to set up a visa/debit account, and use it for reservations and such, are securities held for days to weeks like with regular credit cards? Are they going to tap into my available funds with these securities?
Thanks again to any that take the time to offer advice, it is greatly appreciated.
1-Usually 5 business days, but they can issue a temp card for ATM (Cash Point) at the counter on most occasions.
2-Do u have a fam to have mail sent to??? Dont quote, but i think Brissie is better as 4 days wont be enuff time for the card to be sent out.
3-Pre-paid credit?? Never heard of it sorry..
4-From experience they take the funds out, and upon check-out they refund back into the account, or u can put cash deposit if u have no cards.
Hope this helps, i'd definately look at setting up ur bank account before u arrive so its more stream-lined and the full access card is available to pick up, cos they have to send u out ur pin only after u've received ur card and activated it over the phone...
M L =)