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St.George student account. What you need to know.
Coming into student life something you might not think to address straight away is your banking. Many Australian banks offer accounts designed for students, often with slightly more favourable conditions than their standard accounts. As a result, it’s worth investigating if you’re studying.
This article is going to focus on what St. George Bank has on offer for students. We’ll look at what accounts are available, the features and benefits, fees, and how you can go about opening an account. We’ll also introduce you to Wise as an alternative option.
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What type of student account does St. George offer?
For tertiary students and young adults, St. George offers the Complete Freedom account.¹ It’s an everyday transaction account for your daily banking needs and comes with a Visa debit card.
This account is not specific just to students, but is the one St. George suggests students should open.
What are the features and benefits of this St George student account
These are some of the main features and benefits of opening a St. George Complete Freedom account as a student.
- No account keeping fees
- Gain access to the My Offers Hub which has discounts and benefits
- Opportunities to claim cashback through ShopBack
- Compatible with the Beem It app for quick, secure payments
- Access to budgeting tools like balance alerts and Spend Tracker
What can you do with the St. George Visa debit card?
The St. George Complete Freedom account that’s recommended for students comes with a Visa debit card.² This card can be used anywhere where Visa is accepted and has a few other features to note.
- Withdraw cash in Australia and abroad
- Tap and Pay for purchases up $200
- Use it to pay for goods in person, over the phone and online
Cost, running fees that come with this account
As with most bank accounts, there are some fees you should be aware of if you’re thinking about opening a Complete Freedom account with St. George.
To help out, we’ve compiled some of the main fees that apply to the Complete Freedom account, and have compared them to the Wise Account. This is so you can get a sense of how the St. George account compares to an online non-bank option.
| Fees | St. George Complete Freedom account¹ | Wise Account |
|---|---|---|
| Account monthly fees | No account keeping fee | No account keeping fee |
| International transfer fee (for a sample amount of $1,000 AUD to GBP) | No fee for international online banking transfers. You can make a fee calculation here.³ Sample transfer: You transfer $1000 AUD. No fees + 1 AUD = 0.5068 GBP. 506.80 GBP is sent. | Payout fee + 0.41% variable conversion fee*. You can make a fee calculation here. Sample transfer: You transfer $1000 AUD. 5.30 AUD fee, as 1 AUD = 0.526648 GBP. 523.82 GBP is sent to the recipient. |
| ATM withdrawals in Australia and abroad | No fees for Australian or Global Alliance ATM withdrawals $5 overseas withdrawal fee at non Global Alliance ATMs If St.George completes the foreign currency conversion there is a 3% fee Note: ATM providers may charge their own fees. | You can take out money for free twice a month — as long as the total amount is under $350 AUD. After that, there is a $1.50 AUD per transaction fixed fee. If you take out over $350 AUD in one month, there is a 1.75% on the amount exceeding that. See card fees here. Note: ATM providers may charge their own fees. |
*Reference rate only - actual rate may vary. Information last checked on 14 May 2024
Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.
Note! Wise is not a bank and features available with traditional bank accounts, such as interest rates, loans or protection under the Financial Claims Scheme (for deposits up to $250,000AUD), will not be available with the Wise Account. See how Wise safeguards your money.
What do I need to open an account? Requirements, documents and what to know
If what you’ve read so far appeals to you, you might be considering going ahead and opening an account. To do that you’ll need to make sure you're eligible and have what’s needed to complete the application process.
Who can open a Complete Freedom Account
The eligibility requirements to open this type of account with St. George are quite simple.⁴
- Aged 14 years or older
- Have an Australian residential address
What this means for students, is that this account is a viable option not just for Australians, but also for international students who are studying in Australia and looking to open a local bank account.
How to open a St. George student account
The most convenient way to open a St. George's account is generally online through their website.¹ It can be done in a few minutes and you can start using the online account instantly, while waiting for your Visa Debit card to be delivered in the mail.
Simply go to the account page on their website, hit the “Open Now” button and follow the prompts.
Alternatively you could download the St. George app to follow the same process, or visit a St. George branch in person.
Which documents do I need to open an account?
To open an account with St. George you’ll need to provide information about yourself and some documents that prove your identification.
This is the personal information you may be asked to provide.
- Full name
- Date of birth
- Residential address
- Occupation and employment type
- Source of your funds
- Foreign tax residency information (if any)
You’ll also be asked to provide an acceptable form of identification. This is a list of the primary photographic identification documents that St. George currently accepts.
- Australian passport
- Australian drivers licence
- Eligible foreign passport
- Eligible foreign drivers licence
- Eligible national identity card
- Australian proof of age card
If you don’t have any of these you may be able to provide a combination of other documents to satisfy the ID requirements.
Do I need to deposit money to open a St. George student account?
There’s no need to add money to open a St. George account and thanks to the lack of a monthly account fee, you don’t need to worry about making regular deposits either.
You can find out more by contacting St. George here
If you want to speak to St. George about their students' accounts you have a few different options.
- Call 13 33 30 in Australia
- Phone +61 2 9155 7800 from abroad
- Visit a branch in person
The Wise Account
If you’re 18 years and above, looking for an option that is great for daily spending in Australia and overseas, the Wise is worth a look.
You can open a Wise Account for free and hold money in 40+ currencies and send money to 160+ countries. You can also order local account details for 10 world currencies including AUD.
You can also use the Wise Debit card to spend money in 150+ countries without markups and hidden transaction fees. The mid-market rate is used when switching between currencies, helping to keep costs low when sending money internationally.
Join over 16 million customers currently enjoying Wise. It’ll only take a few minutes to register and see what’s inside.
Register your Wise account
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Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.
Note! Wise is not a bank and features available with traditional bank accounts, such as interest rates, loans or protection under the Financial Claims Scheme (for deposits up to $250,000AUD), will not be available with the Wise Account. See how Wise safeguards your money.
Sources:
- St. George - Everyday Account + Visa Debit Card for Young Adults & Students
- St. George - Visa Debit Card
- St. George - Currency converter
- St. George - Open Complete Freedom Account
- St. George - Identification checklist for individual customers
Sources checked on: 14 May 2024
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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