Why is it important to have a bank account in Australia?
In Australia, from shopping to organising accommodation and getting paid - not much gets done in cash any more.
A bank account is an important tool for a successful life in Australia.
Former banker James Wakim says that having a bank account makes life so much more convenient for anybody who settles in Australia.
Because cash, he says, is rapidly losing importance in today’s modern lifestyle.
Banking in Australia is dominated by four big banks.
In addition, there is a wide variety of smaller banks offering financial services.
Please listen to the full report here.
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