ANZ Business Extra

Last updated: Dec 30, 2020

Access to ANZ Internet Banking for Business is included with this premium business transaction account.

With the ANZ Business Extra Account, for the one monthly account keeping fee, you get access to ANZ Internet Banking for Business. Plus, most transaction types are free, without monthly limits imposed. You can elect to receive a free linked ANZ Business Visa Debit card with this account, and you can also apply for an optional overdraft facility.

$22

Account keeping fee

ATM withdrawal fee

Overseas ATM withdrawal fee

Overseas transaction fee

of transaction value

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Details

Product Name	ANZ Business Extra
Monthly account fee	$22
Card access	Visa
ATM Withdrawal Fee	$0
Internatonal ATM Fee	$5
International transaction fee	3%
Monthly deposit required to waive account fee	N/A
Contactless Payments	Google Pay, Apple Pay, Samsung Pay, Fitbit Pay, Garmin Pay

Minimum Age	18
Joint account availability	No
Minimum opening deposit	N/A

Pros

Most transaction types are free and come without monthly limits
Optional overdraft facility
Access to ANZ Internet Banking for Business platform

Cons

$22 monthly fee applies
Overseas transaction and ATM fees apply

Expert review

Review by

Alison Banney

alison.banney@finder.com

Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

This business transaction account has a $22 monthly account fee which may seem a bit steep at first, but the account comes with a number of included benefits. You can make unlimited ANZ transactions at no extra cost, including staff-assisted cash deposits and withdrawals in branch which normally attract a fee.

Plus, you’ll get access to ANZ Internet Banking for Business which normally has a $15 monthly fee. This online platform allows you to set higher transaction limits, make large transactions requiring co-signatory authorisation, make international business transactions and help with payroll management. If you don’t think you need included access to ANZ Internet Banking for Business, you can take a look at the ANZ Business Advantage Account instead. This account includes unlimited free ANZ transactions too, but you don’t get access to the online business portal.

Key features

$22 monthly account fee.

The ANZ Business Extra Account has a monthly account keeping fee of $22. However, there's a number of included extras in this account that aren't included with alternative ANZ business accounts.

Unlimited ANZ transactions

Make unlimited ANZ transactions for no cost. These include staff assisted transactions, cheques, manual merchant deposits, electronic transactions and the use of ANZ ATMs. Charges may still apply to certain types of transactions, such as overseas EFTPOS and ATM transactions, as well as periodical payments.

Free ANZ Business Visa Debit Card

You can use this card to access funds in your account at any time using ATMs, EFTPOS terminals, online banking and phone banking. The Visa payWave feature lets you use your card to make contactless payments for purchases less than $100. This card comes in three colours and you can get the bank to embed you business name on the card.

ANZ safety features

ANZ Falcon anti-fraud protection and Visa's Zero Liability policy are in place to offer that extra peace of mind.

Optional ANZ Business Overdraft feature

If you get the optional business overdraft facility linked to your account you can be sure that you have access to extra money as and when you need it. You get to choose from secured and unsecured options and there is no minimum or maximum term. Flexible repayment options can give you greater control over your cash flow.

Cheque book available

This account comes with an optional cheque book facility, and you can write unlimited number of cheques for free.

Access ANZ Internet Banking for Business at no extra cost

The ANZ Internet Banking for Business platform gives you a secure way to manage your business cash flow online. Some benefits include co-signatory authorisation as well as higher payment limits. You can also use this platform to make international transfers, to set up direct debits, for efficient payroll management and more. This platform normally costs $15 per month, but there's no extra charge for this platform when you open a ANZ Business Extra account.

Phone banking available

You can use phone banking to check your account's balance and its transaction summary. Phone banking lets you initiate fund transfers, and you can use it to order cheque books. Phone banking also lets you connect with an ANZ representative.

Compare other ANZ products

How to apply

You can apply for this account online. Applying requires that you meet the following eligibility criteria and have the below documentation handy.

Eligibility

Business account. You are applying as a sole trader, company, partnership, trust, society, co-operative or association.
Authority. You have authority to open an account on behalf of the business you represent.

Over 18. All signatories are over the age of 18 years.

Documentation needed

Business details. The trading name of your business, its mailing address and its structure (sole trader, company, trust and so on).
Business number. Such as Australian Company Number (ACN), Australian Business Number (ABN) or Association Number.
Personal details of signatories. Details of all signatories to include complete names, job titles, dates of birth and contact details.

What happens after I submit my application?

Once you submit your online application you should receive a confirmation email from ANZ in minutes. You can expect to hear from an ANZ small business specialist within 24 hours on business days. This is essentially to confirm your details, clarify your doubts, and then, open the account. Once the account is open you can make deposits straightaway. You receive another email notifying you of the account opening and a nominated branch, along with instructions surrounding what you have to do to activate the account completely.

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ANZ Business Extra