Working Holiday in Australia from the UK: Your Money Setup
What to sort before you fly, what to do in your first week, and what your first employer will ask for.
The short version: keep your UK account open, show you have about AUD 5,000 for the visa, and use a multi-currency account such as Wise to move pounds across when the rate suits you. Once you have an address in Australia, open an Australian account and apply for a tax file number. Our pick for that first account is Up: it opens in the app in minutes, with no monthly fee. Your employer needs both, plus a super fund, before your first pay.
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The money the visa expects
UK passport holders apply for the Working Holiday visa (subclass 417) online from outside Australia. You must apply before your 36th birthday, as UK citizens can apply from 18 to 35.
- Visa charge: AUD 840.
- Money to support yourself: usually about AUD 5,000 for your first stay, plus the fare to wherever you go after Australia.
- Stay: up to 12 months on the first visa, with short-term work allowed.
- Timing: the Department of Home Affairs says processing averages around three months and asks you not to book flights until the visa is granted.
Check the official visa page before you apply, as charges and processing times change.
What to do, and when
| When | What to sort |
|---|---|
| Before you apply | Savings of about AUD 5,000 plus an onward fare. Visa charge of AUD 840. |
| Before you fly | Keep a UK current account open. Set up a multi-currency account to hold pounds and Australian dollars. Arrange data for arrival. |
| First week in Australia | Local SIM, an Australian bank account (Up opens in the app), tax file number application. |
| Before your first pay | Give your employer your bank details, tax file number and super fund. |
| When you leave | Move your money out, close or keep accounts, and claim back your super. |
Keep your UK account open
A UK account is still useful once you leave: direct debits, a phone contract you keep, student loan payments, or money you send home. Ask your bank whether you can keep the account while living abroad and give them an overseas address, as some banks restrict accounts for non-UK residents.
Moving pounds to Australia
Most of the cost of moving money is in the exchange rate, not the stated fee. A multi-currency account lets you hold both currencies and convert when you choose, rather than accepting your bank’s rate on the day you need the money.
With Wise, you can hold pounds and Australian dollars, convert between them, and send Australian dollars to your new Australian bank account once it’s open. The Wise card also covers spending in your first days before you have a local card.
- Compare the amount that will arrive in Australian dollars, not just the fee, against your UK bank’s quote.
- Moving your savings in a few smaller conversions spreads the exchange-rate risk if you’re unsure about timing.
- Card fees and ATM limits are covered in our Wise card UK guide and trip calculator.
Your first Australian bank account
You’ll need an Australian account to get paid. Most digital banks expect you to be living in Australia when you apply, so this is a first-week job rather than something to do from the UK.
Our pick for your first Australian account
Up
Up is a mobile-only bank run with Bendigo Bank, and it suits a working holiday well:
- Quick to open: sign-up happens in the app, and a digital card is ready straight away for Apple Pay or Google Pay. A physical card is posted later.
- No monthly fee on the everyday account.
- No Up international transaction fees, which helps if you travel around Asia or head home during the year.
- Savings for your bond and onward fare: Savers earn 5.60% p.a. in any month you make five card purchases and don’t withdraw from that Saver.
- Deposit protection: money is covered by Australia’s Financial Claims Scheme up to $250,000 per person across Bendigo and Adelaide Bank.
Open Up with our invite: $21 bonus
$21 sign-up bonus for eligible new customers who open through our invitation and complete identity verification. You’ll need to be living in Australia and aged 16 or over. Up asks for an Australian driver’s licence or a passport, sometimes with a second form of ID, and suggests Bendigo Bank products if you can’t verify with those. If you still have UK tax obligations, add your overseas tax details during sign-up. More in our Up Bank review.
Ubank isn’t an option on this visa
Ubank only opens accounts for Australian citizens and permanent residents with an Australian address, so working holiday makers can’t use it.
For a wider comparison of everyday accounts, see the best free bank accounts in Australia.
Phone and data on arrival
An eSIM gives you data from the moment you land, for maps, banking apps and messages. Saily sells Australia data plans. These are data plans; Saily’s calls and texts come through an optional US number, not an Australian one.
For work, you’ll want a local Australian SIM with an Australian number, as employers and agencies will expect one. Our sister site has a guide on when to activate a travel eSIM.
Tax file number
A tax file number (TFN) lets your employer tax you at the working holiday rate rather than the much higher no-TFN rate. Once you’re in Australia with your visa, apply online through the Australian Taxation Office. It is free.
- The ATO posts your TFN to the Australian address on your application, usually within 28 days. Use an address where you can collect post.
- Working holiday makers pay 15% on taxable income up to $45,000. Income from $45,001 to $135,000 is taxed at $6,750 plus 30c for each dollar over $45,000 (2025–26 rates).
The ATO’s TFN application page for temporary visitors and working holiday tax rates have the details.
Super, and getting it back when you leave
Employers pay superannuation (retirement savings) on top of your wages into a super fund. Your employer will ask which fund to use. If you don’t choose, they check for a fund already linked to you or pay into their default fund.
After you leave Australia and your visa has ended, you can claim it as a Departing Australia Superannuation Payment. For working holiday makers, the taxable part of that payment is taxed at 65%, so expect to get back much less than the balance. You can’t apply before you leave, but you can prepare beforehand. See the ATO’s DASP page.
Keep it simple: using one super fund for every job means one balance to claim when you leave, instead of several small ones.
Checklist
- About AUD 5,000 saved, plus an onward fare
- Visa granted before booking flights
- UK bank account kept open, with your bank told you’re moving
- Multi-currency account set up to hold pounds and Australian dollars
- Data plan for arrival
- Australian SIM in your first week
- Australian bank account opened once you have an address (Up takes a few minutes in the app)
- Tax file number applied for, with an address that receives post
- Bank details, TFN and super fund given to your employer
Common questions
Can I open an Australian bank account before I arrive?
Not with Up or Ubank: Up is only for people living in Australia, and Ubank is only for citizens and permanent residents. Some larger banks let new arrivals start an application from overseas and verify their identity in a branch after landing, so check with the bank directly if you want an account ready on arrival.
How much money do I need?
The visa guidance is usually about AUD 5,000 for your initial stay plus your onward fare. The cost of a bond and the first weeks of rent before your first pay can take more than that in the big cities, so a buffer above the minimum helps.
Do I pay tax in Australia and the UK?
Your Australian wages are taxed in Australia at the working holiday rates. Whether you also need to report anything in the UK depends on your UK residence status for the tax year, so check HMRC’s guidance on tax if you leave the UK.
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