Migrants should assess their student banking options right away

Moving to another country is obviously a hugely nerve-wracking experience, especially if you are a young, fresh-faced student who has just left school.

Lots of foreign academics head down under to complete a university course and there are plenty of things that need to be considered.

Sorting out your student banking options should be high on your agenda before you move and with so many different accounts now being offered, it is important you get the package that best suits your needs.

Australia's major institutions – including Westpac, Commonwealth Bank, ANZ and National Australia Bank – all offer a variety of attractive student bank accounts that come with a number of perks.

Of course, there are plenty of smaller, less renowned banks to compare too, but whatever you do it is important that you find a deal that has no monthly service fee or hidden costs.

Chances are you will also be offered numerous overdraft limits and it is vital that you check the interest rates attached to these. It is also worth considering which providers offer the best online banking provisions before you commit to a package.

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