According to the Australian Taxation Office (ATO) to legally establish a Self Managed Superannuation Fund (SMSF) the fund will need to hold assets.  The trustee of the SMSF holds the fund's assets in trust for the benefits of the member(s).

All assets of the SMSF must be kept separate from the members / trustee's personal assets.

For example, if the SMSF has individuals as trustees:

Trustees Names:  John Smith and Jane Smith

Name of SMSF: Smith Superannuation Fund

Then the bank account should be opened as: John Smith and Jane Smith (ATF) Smith Superannuation Fund.

ATF - As Trustees For

If a corporate trustee:

Trustee Name: Smith Pty Ltd

Name of SMSF: Smith Superannuation Fund

Then the bank account should be opened as Smith Pty Ltd (ATF) Smith Superannuation Fund.

Refer to Section 52 (2) (d) - Superannuation Industry (Supervision) Act 1993.