Comments on: How do you set up a bank account and deposit the checks? http://bankfly.com/319/how-do-you-set-up-a-bank-account-and-deposit-the-checks/ Best Banking Market Resource | Financial Blog Thu, 30 Sep 2010 04:03:35 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: David http://bankfly.com/319/how-do-you-set-up-a-bank-account-and-deposit-the-checks/comment-page-1/#comment-350 David Wed, 04 Nov 2009 03:01:00 +0000 http://bankfly.com/319/how-do-you-set-up-a-bank-account-and-deposit-the-checks/#comment-350 In Australia all you would need to open an account is ID so preferably a passport / licence or other official photo ID. Along with another form of ID - medicare card, healthcare card, student card - just something official! Once you work out what account you want you will be able to deposit any cheques you have straight away, then again in Australia it is 3 working days before a cheque clears, so if you deposit it on a monday it will be ready for use by Thursday. In terms of rules, there are many but if the cheque is made out in your name, there will be no problem. If you are regularly receiving cheques from your employer, speak to your bank about letting them know and after a few of the same cheques you may be able to get them deposited as clear funds (no 3 day wait) so you can use them straight away. Hope that helps! David In Australia all you would need to open an account is ID so preferably a passport / licence or other official photo ID. Along with another form of ID – medicare card, healthcare card, student card – just something official! Once you work out what account you want you will be able to deposit any cheques you have straight away, then again in Australia it is 3 working days before a cheque clears, so if you deposit it on a monday it will be ready for use by Thursday. In terms of rules, there are many but if the cheque is made out in your name, there will be no problem. If you are regularly receiving cheques from your employer, speak to your bank about letting them know and after a few of the same cheques you may be able to get them deposited as clear funds (no 3 day wait) so you can use them straight away.

Hope that helps!
David

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