Australia and New Zealand Bank (ANZ) is the fourth largest bank in Australia, with more than 570 branches across the country, providing personal banking services to about 6 million customers.

In this article, we will introduce three popular deposit accounts from ANZ and explain the account opening requirements, process, fees and other information about ANZ Bank.

ANZ Account Types

ANZ Bank offers a variety of everyday accounts, savings accounts, term deposits, and children's accounts. Among them, ANZ Plus is the latest high-interest digital account that combines daily transaction and savings functions.

However, it can only be managed through the ANZ Plus app and cannot use branch, online banking, or international remittance services.

ANZ Plus & ANZ Save

• Features: Combines transaction and savings functions, includes a VISA debit card, and offers an annual interest rate of 4.90% on deposits up to AUD 250,000.
• Fees:
  • Monthly account fee: Waived
  • Overseas ATM withdrawal fee: 5 AUD (free at ANZ ATMs)
  • Overseas transaction fee: 3%
  • Incoming wire transfer fee: Up to 15 AUD

ANZ Access Advantage

• Features: Includes a VISA debit card, can use ANZ App, telephone banking, online banking, and branch services. Low basic annual interest rate, can link to Online Saver savings account.
• Fees:
  • Monthly account fee: 5 AUD (waived if any of the following conditions are met: under 25 years old, over 60 years old, enrolled in a full-time course, monthly deposits of 2,000 AUD, or total deposits across all ANZ accounts reach 50,000 AUD)

ANZ Online Saver

• Features: Online savings account, standard annual interest rate of 1.5%, introductory rate of 3.65% for the first three months, linked to an ANZ transaction account for easy transfer of funds.
• Fees: Monthly account fee waived, transaction fees according to the main account.

Bank Wire Transfer Fees

Fees for bank wire transfers via ANZ online banking:

• To designated Pacific Island countries:
  • For amounts below the equivalent of 10,000 AUD: Free for foreign currency, 7 AUD for AUD
  • For amounts above the equivalent of 10,000 AUD: Free for both foreign currency and AUD
• To other countries:
  • For amounts below the equivalent of 10,000 AUD: 9 AUD for foreign currency, 18 AUD for AUD
  • For amounts above the equivalent of 10,000 AUD: Free for foreign currency, 18 AUD for AUD

ANZ Account Opening Conditions

ANZ Plus & ANZ Save

• Must be at least 15 years old
• Can only open a personal account
• Must have an Australian passport, Australian driver's license, or international passport
• Must have a valid Australian residential address and mobile phone number

ANZ Access Advantage

• Must be at least 12 years old
• Can open a personal or joint account
• Must have a valid Australian residential address

ANZ Online Saver

• Must be at least 12 years old
• Can open a personal or joint account
• Must have a valid Australian residential address
• Must hold a designated ANZ everyday account (such as ANZ Access Advantage)

The three ANZ accounts introduced do not have an initial deposit requirement. However, ANZ Access Advantage charges a monthly fee of 5 AUD, which can be waived by depositing 2,000 AUD monthly or maintaining an account balance of 50,000 AUD.

Required Documents for ANZ Account Opening

ANZ Plus is a simple digital account designed for new arrivals in Australia, requiring only a passport and a selfie for identity verification.

For full banking services, including branch and online banking services, other types of everyday accounts, such as ANZ Access Advantage, must be opened.

Opening an ANZ Access Advantage account online requires two of the following proof of identity documents:

• Australian passport
• International passport with Australian visa
• Australian driver's license
• Australian Medicare card

To open an account in person at a branch, only one primary identification document (such as an international passport) is needed.

ANZ Online Account Opening Process

The three accounts mentioned can be applied for online, with ANZ Plus requiring its dedicated app and the others available on the ANZ website or online banking.

ANZ Plus Account

1. Download the ANZ Plus app from the Australian App Store or Google Play Store.
2. Fill in personal details, including Australian residential address and mobile number.
3. Scan your passport and follow the instructions to complete a selfie for identity verification.
4. Complete the account opening process; the debit card will be sent to your address.

ANZ Access Advantage Account

1. Visit the ANZ website, check the ANZ Access Advantage page, and click "Apply Now."
2. Optionally, apply for an Online Saver account simultaneously.
3. Fill in personal details, including contact information and tax details.
4. Upload two proof of identity documents.
5. Review and submit the account opening application, then wait for the bank to process it.

ANZ Bank's various transaction and savings accounts have no initial deposit requirements and support online account opening, making them very convenient.

However, note that if you intend to use ANZ Bank's international remittance services, the high-interest ANZ Plus account cannot be used, and you may need to apply for an additional ANZ Access Advantage account.

While ANZ Bank's remittance service supports over 30 currencies to more than 200 countries, it does not include RMB.