Backpacker Travel News
10 May 2006 Australia launches backpacker bank account
A bank account aimed at travellers and those with backpacker travel insurance heading to Australia for a working holiday, has been launched by Citibank Australia.
The online account, which is targeted specifically at backpackers with working holiday visas, can be set up from anywhere in the world and allows customers to transfer money into an Australian account from their home country, eTravel Blackboard reports.
Todd Reichmann, Director of Citibanking Australia, commented: "The number one priority for those planning to work and travel in Australia is to have a local bank account.
"With this account, travellers have a secure alternative to cash and traveller’s cheques. The added benefit is that friends and family can also transfer funds into that account at any time."
The account which is aimed at travellers, many of whom will be covered by gap year travel insurance, has the benefits of no account keeping fees and ten free transactions each month, which Citibank claims could save backpackers around £25 a year.
Citibank Australia was established in 1985 and is part of Citigroup, which is one of the largest financial services in the world. 
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