You will need an Australian account quickly — rent, wages and phone plans all assume one. The good news is that most major banks let you start the application from overseas, before you fly.
The step people miss is not the account. It is the Tax File Number that should follow it.
Most large Australian banks allow international students to open an account online in advance, then complete identification at a branch after arrival. Money can usually be deposited before you land, and accessed once the account is fully verified.
Doing this early means you are not trying to arrange a bank appointment in the same week as enrolment, housing and a phone plan.
Australian banks verify identity using a points-based system: different documents are worth different points and you need enough of them. A passport carries a lot of weight, which is why it is the one document to bring to the appointment.
A Tax File Number (TFN) is your personal reference with the Australian Taxation Office. It is free, you apply directly to the ATO, and you can only apply once you are in Australia.
You do not strictly need one — but without it, tax is withheld from your pay and from interest on your savings at a much higher rate than it otherwise would be. Applying is a short online form. Never pay a third party to get one for you, and never share it casually: it is a sensitive identifier.
Australia is close to cashless. Contactless card and phone payments are accepted almost everywhere, and some venues no longer take cash at all.
Bank transfers between Australian accounts are generally same-day or near-instant, which is how rent and shared household costs usually move.
Australian Taxation Office
Moneysmart (ASIC)
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