How many Australian bank accounts do you have?

[ohmr]

Do you think its harder and more expensive in Australia to have alot?

How safe is closing and opening new ones without creating red flags?

Do we even have checking accounts here like in the usa?

[Klemantina]

1) No, specially if your a student you don't pay anything.
2) As far as I know the rule is 4-5 accounts per bank for some reason. Not sure about why it's a problem if i pay my taxes and sell legit items under different business names.
3) Yes, not sure if there is a difference.

[matblacrog]

You can have as many as you like with BOQ. There web savings account and unlimited. I have known people to have as many as 70 and yes each for ebay.

[jscan]

Most banks have free online accounts which are fine to use. I pay nothing for my accounts between various banks.

I've only been asked once by ANZ why I have 'so many' accounts by some bimbo.

I told her I am saving for different goals and she said 'Ohhh that's a good idea' - lol.

I recommend Citibank.

[rsot]

Citibank Australia ...hmm wonder how international their operations are...

[Stealth4]

Originally Posted by matblacrog

You can have as many as you like with BOQ. There web savings account and unlimited. I have known people to have as many as 70 and yes each for ebay.

Whats BOQ ?

[GreenBean]

BoQ is Bank Of Queensland.

OK for stealth.

Dont be fooled by the idea of having that many accounts at one bank. Time may come that the bank will look at the operations and close the accounts.

Suncorp proved that.

And for tosr, who seems like he is thinking OZ is a backwater, Citibank was one, if not the first, International bank to get licensed to trade in Australia. One of our major players. Impeccable business services too.

[rsot]

Originally Posted by GreenBean

And for tosr, who seems like he is thinking OZ is a backwater, Citibank was one, if not the first, International bank to get licensed to trade in Australia. One of our major players. Impeccable business services too.

I never indicated that I thought OZ was backwater - in fact, I have just vested into some property there citizenship here I come...few years away hah.

Impeccable = gold - great to know