No, that is not necessary. If you do not have an Australian bank account, you may do a wire/Telegraphic Transfer. Alternatively, you may use remitting platforms like Wise or Revolut to transfer funds.
However, if you do have a OSKO enabled Australian bank account you can make almost real time funds transfer.
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Do I need to have an Australian bank account before I can invest?
No, that is not necessary. If you do not have an Australian bank account, you may do a wire/Telegraphic Transfer. Alternatively, you may use remitting platforms like Wise or Revolut to transfer funds.
However, if you do have a OSKO enabled Australian bank account you can make almost real time funds transfer.