Australian Banks - Compare & Open A Bank Account Online

Australian Banks

The country of Australia has been growing steadily with the help of excellent economic decisions made over the course of its entire history. There are many companies and businesses that aid in this growth including those in the banking industry. For many years, there was tight regulation in the country's banking companies thus many foreign bank accounts were unable to establish their services in the mainland. This allowed other financial institutions to rise such as credit unions and building societies. In 1983, the banking industry was deregulated which allowed banks from other countries to operate in Australia.

There are four major Australian bank accounts in the country. These are the Australia and New Zealand Banking Group, Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation. There are also smaller Australian banks such as the Elders Rural Bank Limited, BankSA, St. George Bank Limited and the Westpac Banking Corporation. They are all regulated by the Australian Prudential Regulatory Authority or APRA. Bank movements are monitored by this agency and safeguard the industry from economic collapse.

The Australian bank accounts are now joined by many international banking companies. These include the Arab Bank Australia Limited, Citigroup Pty. Limited, Laiki Bank (Australia) Ltd., HSBC Bank Accounts Australia Limited and many more. They each have their own special services that cater to the many preferences of their potential customers. With all these various companies operating within the mainland, the Australian banking industry is well-supported and is poised to further strengthen the Australian economy. There is definitely no reason for an investor not to put his money in any of these banking companies.

Bank headquarters are found in different Australian states. The Adelaide Bank Limited and Elders Rural Bank Limited are located in Adelaide. Sydney has AMP Bank Limited, Commonwealth Bank of Australia, Macquarie Bank Limited, St. George Bank Limited, Westpac Banking Corporation and the Reserve Bank of Australia. The state of Melbourne hosts the headquarters of Australia and New Zealand Banking Group Limited, Members Equity Bank Pty Limited, and National Australia Bank Limited. Brisbane has Bank of Queensland Limited, and Suncorp-Metway Limited. There is also the Bendigo Bank Limited in Bendigo.