How to Apply for a Tax File Number and Open a Bank Account in Australia as an ANU International Student

11 April 2026 3 min read

For international students arriving at the Australian National University (ANU), applying for a Tax File Number (TFN) and opening a bank account are two administrative tasks that should be prioritised as soon as you enter the country. Under Australian Taxation Office (ATO) rules, international workers on student visas who do not apply for a TFN within 28 days of their first day of work may have their wages withheld at the top marginal rate (47%, including the Medicare levy surcharge) (ATO, 2024, Tax File Number Application Guidelines). At the same time, the Australian Government requires all international students to provide local bank account details within 6 weeks of arrival so that scholarships, wages, or rental deposits can be received (Australian Department of Home Affairs, 2023, International Student Visa Conditions). As of 2024, ANU had more than 12,000 registered international students, 32% of the total student body, with about 70% coming from China, India, and Southeast Asian countries (ANU, 2024, Annual International Student Profile). Using the real-life situation of ANU students as a starting point, this article sets out the complete step-by-step process from TFN application to opening a bank account, including timelines and common pitfalls.

The TFN Application Process and Timeline

The Australian Tax File Number (TFN) is your unique identifier in the Australian tax system, issued by the Australian Taxation Office (ATO). Even if you don’t plan to work, applying for a TFN as an international student helps prevent bank interest from being withheld at the top rate (47%). Under ATO rules, applicants holding a valid student visa can apply online immediately after arrival — there’s no need to wait until a bank account is opened.

Online Application Requirements and Documents

Applicants must meet the following conditions: hold a valid passport, hold a student visa that permits work (usually Subclass 500), be physically in Australia, and have an Australian local address. Required documents include a scan of the passport’s personal information page, an Australian mailing address, and an email address where you can receive ATO correspondence. The ATO recommends submitting the application within 7 days of arriving in Australia so you have your TFN before your first day of work (ATO, 2024, International Student TFN Application Guide).

Application Steps and Processing Times

The online application is submitted through the “Apply for a TFN” entry under the “Individuals” section of the ATO’s official website. You fill in your personal details, visa status, residential address, and contact information. After submission, the ATO mails your TFN as a paper letter to the Australian address you provided within 28 calendar days. If it hasn’t arrived after 28 days, call the ATO international student line (13 28 61) to enquire. ANU’s Student Central offers free help printing the mailing address, but cannot check progress on your behalf.

Choosing an Account Type and Opening a Bank Account

Australia’s major banks offer international students zero-monthly-fee student accounts, usually comprising an Everyday Account and a Savings Account. ANU’s campus has branches of Commonwealth Bank, ANZ, and the National Australia Bank (NAB), and Commonwealth Bank even operates a 24-hour self-service area on campus.

Comparing the Major Banks’ Products

Commonwealth Bank’s Smart Access Account is free of monthly fees for students (the regular monthly fee is AUD 4) and supports real-time Osko payments, so transfers arrive within seconds. ANZ’s ANZ Access Advantage is also fee-free, but you must deposit at least AUD 2,000 each month to have the account-keeping fee waived. NAB’s NAB Classic Banking has no monthly fee and no minimum deposit requirement at all, making it a good fit for students with low account activity. All the banks offer Mastercard or Visa debit cards with Apple Pay and Google Pay support.

Documents and Steps for Opening an Account

To open an account, bring the originals of: your passport, your valid student visa (an electronic copy is acceptable), your ANU offer letter or student ID, and proof of an Australian address (such as a rental agreement or school accommodation confirmation). It’s best to visit a branch within 3 business days of arriving in Australia, because some banks (such as Commonwealth Bank) let you pre-open an account online before you enter the country, but it must be activated in person within 30 days of arrival. Opening an account usually takes 20 to 30 minutes; you get your account number on the spot, and the debit card is posted to your address within 5 to 10 business days.

Linking Your TFN to Your Bank Account

Once you have your TFN, provide it to your bank so interest on your deposits is taxed at the correct rate. Under Australian tax law, if you don’t provide a TFN, the bank withholds interest tax at the top marginal rate (47%); once you provide it, the rate drops to your actual personal rate (usually between 0% and 19%) (ATO, 2024, Withholding Tax on Interest).

How to Link and the Time Window

You can link your TFN through the bank’s mobile app, online banking, or in person at a branch. With Commonwealth Bank, for example, log in to NetBank, select “Tax File Number” under the “Profile” menu, enter your TFN, and submit. The ATO recommends completing the link within 14 days of receiving your TFN to avoid unnecessary tax withholding. If you still haven’t linked it after a full financial year (1 July to 30 June), the tax already withheld can be claimed back when you lodge your annual tax return, but the process is more cumbersome.

The Tax Consequences of Not Linking

Suppose a student has AUD 10,000 in savings earning 4.5% interest per year. Without a TFN, the bank withholds interest tax at 47%, so the interest actually received is 10,000 × 4.5% × 53% = AUD 238.50. With a TFN, if the student’s annual income is below AUD 18,200 (the tax-free threshold), the effective rate is 0%, and the interest received is AUD 450. The difference is AUD 211.50 — roughly a week’s food budget on the ANU campus.

Common Account-Opening Pitfalls and How to Avoid Them

International students most often run into two problems when opening accounts: insufficient proof of address and misunderstandings about visa validity. Australian banks generally require address proof to be an official document issued within the last 3 months, and a rental agreement or school accommodation confirmation must show the student’s name and full address. If you try to use a hotel address or temporary accommodation, the bank may refuse to open the account.

Alternatives for Proof of Address

If you haven’t signed a long-term lease yet, you can use the check-in confirmation letter from ANU student accommodation (such as Bruce Hall or Wright Hall) as proof of address. Issued by ANU Accommodation Services, it includes your name, room number, and check-in date and is accepted by all the major banks. In addition, some banks (such as NAB) accept a bank account opening recommendation letter from the university, which you can request at ANU Student Central; it states your student status and temporary address.

Visa Validity and Account Types

Some banks require your student visa to have at least 6 months of validity remaining before they’ll open a student account. If your visa is about to expire (as with language course students), the bank may require a regular transaction account instead of a student account, and the former may carry monthly fees. It’s best to open a student account when your visa has more than 12 months of validity; otherwise, open NAB’s zero-fee regular account first and switch after your visa is renewed.

Transferring Funds from Overseas and Paying Tuition

After opening a bank account, international students need to transfer their study funds from home to their Australian account. Common methods include international wire transfer (SWIFT), third-party payment platforms, and interbank transfers. According to the Australian Securities and Investments Commission (ASIC), traditional wire transfers typically cost AUD 15 to 30 in fees, with an exchange rate markup of about 2% to 3% (ASIC, 2023, International Money Transfer Report).

Using Third-Party Payment Tools

For cross-border tuition payments, some international student families use dedicated channels such as Flywire tuition payments to settle their foreign exchange. These tools typically offer real-time exchange rates and lower fees, and support local payment methods such as Alipay and WeChat Pay. ANU’s official tuition payment page also lists Flywire as a recommended channel, and students can initiate payments directly through their student account (ISIS).

Transfer Times and Limits

With a SWIFT wire transfer, funds usually arrive in 2 to 5 business days, while third-party platforms (such as Flywire and Wise) can complete the transfer in 1 to 2 business days. Australian banks automatically report any single incoming transfer over AUD 10,000 to the Australian Transaction Reports and Analysis Centre (AUSTRAC), but this report is purely an anti-money-laundering compliance requirement and doesn’t affect how you use the account. It’s often suggested to keep single transfers under AUD 9,999 to avoid triggering the report — but if you’re paying tuition, there’s no need to worry about exceeding that amount; just keep your transfer receipts.

FAQ

Q1: Can I apply for a TFN before entering Australia?

No. The ATO requires you to be physically in Australia when you submit your TFN application. Apply online on the second day after arrival, since processing can take up to 28 calendar days. If you plan to start work within the first week, make sure you’ve submitted the application before your first day of work and tell your employer you’ve “applied for a TFN” — the employer can then withhold tax temporarily at a lower rate (about 15%).

Q2: How long does it take to open a bank account?

From walking into the branch to finishing the account setup, it usually takes 20 to 30 minutes. The debit card is posted to your Australian address within 5 to 10 business days. If you need the account urgently, ask for a temporary debit card or enable mobile banking — the latter is available immediately after opening. Some banks (such as Commonwealth Bank) let you generate a virtual card in the mobile app on the same day for use with Apple Pay.

Q3: Can I do the TFN application and bank account at the same time?

Yes, but it’s better to open the bank account first and apply for the TFN afterwards. The TFN application form asks for an Australian mailing address, and opening a bank account gives you an official confirmation of that address immediately. In practice, you could visit the bank in the morning on the day you arrive and submit the TFN application online from your accommodation in the afternoon. The two don’t conflict: opening a bank account doesn’t require a TFN, but the TFN application does require an Australian address.

References

Australian Taxation Office (ATO). 2024. Tax File Number Application Guidelines for International Students.
Australian Department of Home Affairs. 2023. International Student Visa Conditions and Compliance.
Australian National University (ANU). 2024. Annual International Student Profile Report.
Australian Securities and Investments Commission (ASIC). 2023. International Money Transfer Report: Fees and Exchange Rates.
UNILINK Education. 2024. Australia Student Visa and Banking Database.