# Bank CommonWealth vs NAB



## super (Oct 3, 2012)

Hi Friends,

Can someone help me to understand which bank account to open before travelling to Australia. I heard that both CommonWealth and NAB are good. Just wanted to know if there is any benefit choosing one over the other. Also it would be great if someone can share which is the best way to transfer money between India and Australia.

Thanks in advance.


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## VVV (Nov 5, 2012)

i am also waiting to hear the answer to this question  Hope someone can guide us!


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## anishk06 (Sep 5, 2012)

super said:


> Hi Friends,
> 
> Can someone help me to understand which bank account to open before travelling to Australia. I heard that both CommonWealth and NAB are good. Just wanted to know if there is any benefit choosing one over the other. Also it would be great if someone can share which is the best way to transfer money between India and Australia.
> 
> Thanks in advance.


check the website of both the banks to get more clarity. :ranger:
comwealth have more atm counters compared to nab
both accounts you can open before you leave your home country
comwealth required minimum bal whereas nab is zero balance
dd/travelers cheq/swift transfer are advisable for money transfer


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## expa2020a (Feb 13, 2013)

I would open 2 accounts , one for saving and one for transactions .
CWB has good goal saver rate 4.65% as of today :
GoalSaver - Savings accounts - Commonwealth Bank Group

For transactions you could select local credit unions or banks in your state with no monthly fess. Example in WA there is P&N WA?s member-owned bank | P&N Bank
To meet the CWB goal saver requirement just set up automatic money transfer from local bank to CWB GS.

Coming from US I find it absolutely ridiculous that big banks charge a monthly fees .


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## saradha (Feb 22, 2011)

Hi friends,

My dh is leaving to mel this june 3rd and we are trying to choose a bank in aus.
Nab seems to be good with no monthly charges or min bal requirement.
We have mortgages in India for which we would be making periodical transfers from aus to india. Does anyone know which bank in aus is suitable for this arrangement i.e., charging less transfer fee or something of the like.

And Indians pl throw some light on operating an NRE a/c here. What r the points to be considered b4 opening such an a/c?

Thanks,
Sara


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## VVV (Nov 5, 2012)

Thanks everyone for the inputs...really helpful!


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## piggo (Mar 30, 2012)

NAB for me, I refuse to pay any fees for putting/taking my money from the bank! Their ATMs can be quite limited but the 0 transaction fees for their visa debit card makes it that much better


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## super (Oct 3, 2012)

Thanks to everyone, all the inputs shared were really helpful.

From the replies I have concluded that NAB is the best option to maintain a zero balance account, without any monthly charges. Any advantage opening a CWB account? Also would like to know about the NRI accounts options.

Thanks


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## ozbound12 (Mar 23, 2012)

super said:


> Thanks to everyone, all the inputs shared were really helpful.
> 
> From the replies I have concluded that NAB is the best option to maintain a zero balance account, without any monthly charges. Any advantage opening a CWB account? Also would like to know about the NRI accounts options.
> 
> Thanks


Commonwealth has more ATMs than NAB from what I've seen, if that matters at all. NAB has been great to me though. You can get cash out at Coles, Safeway etc anyway.


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