# Westpoack bank- Migrants be careful.



## mr.india (Jul 28, 2009)

thought of bringing it here.

We have recently opened New migrant account ( Cash Manager ) in NAB. However, before opening the account with NAB, we had communicated to Westpac, ANZ and St. George. 

Recently we have received a Hoax e-mail from westpac asking us to complete the account details, which seemed suspicious as it came from different domain (akamai.net). Googling it brought us to this story..

Full Story:
Police try to shut down Russian website that conned Westpac bank customers | Adelaide Now


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## Cnf (Mar 17, 2010)

Phishing is such common practice of late that it is always good to check credentials and be extra aware :/


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## Ozaspirant (Jun 27, 2009)

Mr India , 

Thanks for sharing this , Banking sector is worst hit of Phishing and even for indian bank accounts we get bunch of such messages.

By the way what made you to choose NAB over other banks and also what is the procedure to open the account from overseas .


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## april (Jul 22, 2007)

It's not just Westpac. There are scams like this for all major banks.


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## mr.india (Jul 28, 2009)

Ozaspirant said:


> Mr India ,
> 
> Thanks for sharing this , Banking sector is worst hit of Phishing and even for indian bank accounts we get bunch of such messages.
> 
> By the way what made you to choose NAB over other banks and also what is the procedure to open the account from overseas .



Although, St George, Westpac and NAB all support opening account while overseas for new migrants. We sent enquiry to all the banks an found firstly, NAB were very prompt in replying, secondly, except NAB all other Banks charge $6-10 per month as account maintenance/ service fees, where as all we need an Australian account is to move our funds from overseas account to Australian account and NAB account is solving this purpose without charging any fees  

If need be, we can change account later on. 


Best Regards,
Randhir Singh


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## mr.india (Jul 28, 2009)

Hi Cnf and April,

I have received similar e-mail earlier from banks where I have account.. Westpac e-mail came to me (Even though we are not their customer).. Email contains a link to complete the account opening process and also a swift code to transfer funds, hence, thought of bringing it here. 

Regards,
Randhir Singh.


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## satpal123 (Sep 26, 2009)

mr.india said:


> Hi Cnf and April,
> 
> I have received similar e-mail earlier from banks where I have account.. Westpac e-mail came to me (Even though we are not their customer).. Email contains a link to complete the account opening process and also a swift code to transfer funds, hence, thought of bringing it here.
> 
> ...



Hi Randhir,

Report it to the Westpac bank on this link Westpac - Reporting scams

Regards
Satpal Singh


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## Ozaspirant (Jun 27, 2009)

mr.india said:


> Although, St George, Westpac and NAB all support opening account while overseas for new migrants. We sent enquiry to all the banks an found firstly, NAB were very prompt in replying, secondly, except NAB all other Banks charge $6-10 per month as account maintenance/ service fees, where as all we need an Australian account is to move our funds from overseas account to Australian account and NAB account is solving this purpose without charging any fees
> 
> If need be, we can change account later on.
> 
> ...


Mr India , 

Thank you so much for this information and I would be opening my account with them after some research.


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## mr.india (Jul 28, 2009)

satpal123 said:


> Hi Randhir,
> 
> Report it to the Westpac bank on this link Westpac - Reporting scams
> 
> ...


Already did... :tongue1:


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## Ozaspirant (Jun 27, 2009)

Mr India, 

Which type of account did you open with NAB ? Day to Day account or Saving account


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## mr.india (Jul 28, 2009)

Ozaspirant said:


> Mr India,
> 
> Which type of account did you open with NAB ? Day to Day account or Saving account


Investment Cash Manager account. You may open this account by following the link: https://www.nab.com.au/wps/wcm/connect/nab/nab/home/personal_finance/15/23/1/2


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## Ozaspirant (Jun 27, 2009)

Thanks a ton


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## Ozaspirant (Jun 27, 2009)

I just submitted our joint application to open the above account and once i get my credentials will start depositing money on timely basis by looking at AUD exchange rate


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## Halo (May 8, 2008)

mr.india said:


> thought of bringing it here.
> 
> We have recently opened New migrant account ( Cash Manager ) in NAB. However, before opening the account with NAB, we had communicated to Westpac, ANZ and St. George.
> 
> ...


Ummmmmmmmmmm, Banking in OZ is up there on safety.... Perhaps you need to tighten up your PC security and ensure you know a Viagra from a Viegra.


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## mr.india (Jul 28, 2009)

Ozaspirant said:


> I just submitted our joint application to open the above account and once i get my credentials will start depositing money on timely basis by looking at AUD exchange rate


Exchange rate right now is Very good.. We just got $3100 changed yesterday and rate was awesome.. We have already started gearing for our move..


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## aanu77 (Nov 23, 2008)

apply for a freedom account that is the best and to get rid of the service fees just pull out 2000/- redeposit at the starting of the month.you will not be charged the service fee.the bank people are very helpful.


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## Ozaspirant (Jun 27, 2009)

Mr India , 

Thank you , rite now I am waiting for OZ account to remit the money outwards .


Aanu77, 

Investment Cash Manger account was suggested by NAB itself , when we filled our personal detaills and immigration status web site shows below info .

"Having looked at the information you supplied, at this point we would recommend setting up a NAB Investment Cash Management account. This account allows unlimited over the counter banking as well as internet banking, whilst paying a higher level of interest. You will be able to access this account through ATMs all over Australia and the World. Of course, your circumstances may change prior to your arrival in Australia. At that point we can re-assess and confirm the best account for you to open. You will however not be able to withdraw funds from this account until you have been identified in Australia for AUSTRAC purposes."


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## mr.india (Jul 28, 2009)

Ozaspirant said:


> Mr India ,
> Thank you , rite now I am waiting for OZ account to remit the money outwards .
> "


The e-mail from NAB representative is as below:



> Hi Randhir,
> 
> Thanks for bringing this to my attention. I believe there is no monthly charge on the account at all. I'll investigate this for you and reply accordingly. I also believe I should be able to have these funds reversed. If we need to change the account set up I'll also advise a solution to this problem as there should not be any monthly fees.
> 
> ...


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## Ozaspirant (Jun 27, 2009)

mr.india said:


> The e-mail from NAB representative is as below:


Thanks Mr India , hope there won't be any charges for on recurring basis. Please don't forget to update once you get the more info on this.


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## cbsquirrel (Apr 3, 2010)

Mr. India,
Very timely info. I was just looking into banks and thought NAB looked like the best option. Sounds like others agree. I will most likely be signing up with them very soon!


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## mr.india (Jul 28, 2009)

cbsquirrel said:


> Mr. India,
> Very timely info. I was just looking into banks and thought NAB looked like the best option. Sounds like others agree. I will most likely be signing up with them very soon!


Thanks.. Just to tell you guys... exchange rate now is this year highest, so, it is right time to transfer funds..

Regards,
Randhir Singh


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## Ozaspirant (Jun 27, 2009)

Mr India , 

I guess there are monthly charges for investment cash manager account but it will be effected when we reach there , I inquired with NAB and received below response for the same.



> Thank you for your kind words, you are most welcome.
> 
> We have opened you an Investment Cash Manager Account. Please be advised that there are no monthly account service fees charged until your account is activated with your NAB Migrant Banker upon arrival in Melbourne.
> 
> Please don't hesitate to contact me if you require any further assistance.


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## mr.india (Jul 28, 2009)

Ozaspirant said:


> Mr India ,
> 
> I guess there are monthly charges for investment cash manager account but it will be effected when we reach there , I inquired with NAB and received below response for the same.


Yes, I am aware of this. There is no monthly charges, if you maintain $10,000 in your account. Other option is cash manager account, but there is no interest on this account, so we took this... once we are in Australia, we will change it to everyday account. 

Good Luck. 

Randhir Singh


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## Ozaspirant (Jun 27, 2009)

mr.india said:


> Yes, I am aware of this. There is no monthly charges, if you maintain $10,000 in your account. Other option is cash manager account, but there is no interest on this account, so we took this... once we are in Australia, we will change it to everyday account.
> 
> Good Luck.
> 
> Randhir Singh


That is cool.


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## satpal123 (Sep 26, 2009)

This is the reply I also got today...

_ We normally do not charge the customer untill the customer arrives in Australia. Once you arrive and activate your account we can discuss different options. We have account which have no monthly account fee and on-line savings accounts for the higher interest. _


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## syncsam (Feb 5, 2009)

Hi all, 

Can we open a NAB Classic Banking account from oversea ?


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## satpal123 (Sep 26, 2009)

syncsam said:


> Hi all,
> 
> Can we open a NAB Classic Banking account from oversea ?


No you cant. You can open investment cash manager account but once you are in Aus, You can change it to NAB Classic Banking account.


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## syncsam (Feb 5, 2009)

satpal123 said:


> No you cant. You can open investment cash manager account but once you are in Aus, You can change it to NAB Classic Banking account.


Ridiculous! They allow international student to open the Classic Banking account from oversea but not Australian PR.


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## satpal123 (Sep 26, 2009)

syncsam said:


> Ridiculous! They allow international student to open the Classic Banking account from oversea but not Australian PR.


Shoot them an enquiry & check


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## kkozdream (Apr 7, 2010)

mr.india said:


> Although, St George, Westpac and NAB all support opening account while overseas for new migrants. We sent enquiry to all the banks an found firstly, NAB were very prompt in replying, secondly, except NAB all other Banks charge $6-10 per month as account maintenance/ service fees, where as all we need an Australian account is to move our funds from overseas account to Australian account and NAB account is solving this purpose without charging any fees
> 
> If need be, we can change account later on.
> 
> ...


Hey Randhir,

Can you please share details on "How to open a account with NAB, while still in India ?"...

Thanks
Kk


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## syncsam (Feb 5, 2009)

*NAB Classic Banking Account*

Hi all,

Just an update on the opening of NAB Classic Banking Account from oversea, all the information can be obtained from here.


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## Halo (May 8, 2008)

I used Westpac from the UK and it was all good.... The Big 4 will all do a good job although I did have hassles once with the Commonwealth Bank but I'm sure they have plugged the holes... In Australia, the land of Mediocrity, its much of a muchness.


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## jayel (Apr 23, 2010)

syncsam said:


> Hi all,
> 
> Just an update on the opening of NAB Classic Banking Account from oversea, all the information can be obtained from here.


Thanks. It seems like they only let you open the Classic Banking account if you select Other instead of Skilled under the visa type you are arriving in.


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## mr.india (Jul 28, 2009)

jayel said:


> Thanks. It seems like they only let you open the Classic Banking account if you select Other instead of Skilled under the visa type you are arriving in.


I opened NAB account last month (following the link) and they opened "Investment cash manager account". Which is also OK they pay you interest (with 10% deductions annually on interests till you arrive).

Cheers


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## cbsquirrel (Apr 3, 2010)

I was also able to open a classic bank account with NAB by stating that my visa was "other".

Now that I have a bank account, I'm a little unclear on how to get money into it. Do most people use one of the exchange services? Do you have to do a wire transfer? 

Any guidance would be great.


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## mr.india (Jul 28, 2009)

cbsquirrel said:


> I was also able to open a classic bank account with NAB by stating that my visa was "other".
> 
> Now that I have a bank account, I'm a little unclear on how to get money into it. Do most people use one of the exchange services? Do you have to do a wire transfer?
> 
> Any guidance would be great.


I am Using Exchange house, they normally take 48 hours to transfer money in your account in Australia.


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## subbaram81 (Oct 26, 2009)

Hi OzAspirant,

How do you transfer money to your NAB account from India?
I have opened an account with NAB recently and want to know the procedure to transfer funds from India.

Cheers
Subbaram.



Ozaspirant said:


> I just submitted our joint application to open the above account and once i get my credentials will start depositing money on timely basis by looking at AUD exchange rate


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