Yes, good question. And although I know by replying here I am keeping this thread at the top of the board, but JCoure seems determined to keep it alive anyway. The other point is how are students expected to live for 4 years or more in the country without an account? Working holiday people? Carry and use cash, keeping 1000's stored under the mattress? Encouraging tax evasion.
Not sure what the issue is with these people using Australian banks - but perhaps JCoure might want to let us know how they are related to all the pimps, prostitutes and money launderers.
Westpac's $1,000,000,000 AUSTRAC Settlement?, page-104
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