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Bank of Melbourne Corporate Mastercard

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Keep track of spending across your entire business with unlimited additional cardholders and a suite of financial management tools.

The Bank of Melbourne Corporate Mastercard account offers an unlimited number of additional cards and up to 35 days interest-free on purchases.

35 days

Interest free period

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Details

Product NameBank of Melbourne Corporate Mastercard
Purchase rateN/A
Annual fee
Interest-free period35 days
Cash advance rate17.45% p.a.
Min credit limit$500
Max credit limit$250,000
Card typeMastercard
Foreign currency conversion fee3%
Available to temporary residentsNo
Joint applicationNo

Cons

  • This card only offers 35 days interest free, which is relatively a shorter period compared to the 55 days that most cards offer.
Annual fee
Foreign currency conversion fee3%
Number of additional cardholders9,999

Expert review

Amy Bradney-George

Review by


Amy Bradney-George is the acting editor for credit cards and has more than 13 years’ experience writing about personal finance. She has bylines in publications including The Sydney Morning Herald, ABC News and The Equity Magazine. A passionate writer, she’s also acting editor for Finder X and senior writer for Finder Green. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University, and when she’s not writing she spends her time as an actress.

Expert review

The Bank of Melbourne Corporate Mastercard is a credit facility that can help larger organisations manage spending across departments. The unlimited number of cards available gives you flexibility if you’re a growing company or think you may want to add new employees to the account in the future. You can also set individual credit limits for each card – including custom ATM withdrawal limits – and include a hierarchy structure for more efficient management.

A key feature of this account is its access to Mastercard Smart Data. This online management system offers up to 20 different reporting functions, which can help you with MIS data, GST reporting and auditing requirements. This system also offers integration with existing financial software, which means you don’t have to spend a huge amount of time changing your existing processes.

How to apply

You can apply for the Bank of Melbourne Corporate Mastercard by visiting a corporate and business branch or by calling 13 82 66. If you already have a corporate account with Bank of Melbourne, you can apply by contacting your relationship manager.

Below are some of the eligibility requirements, details and documents you may need to provide when completing the application.

Eligibility criteria

  • Age. You must be at least 18 years old to apply for a credit card in Australia.
  • Business requirements. You will need the ABN (Australian Business Number), ACN (Australian Company Number), ARBN (Australian Registered Body Number) or ARSN (Australian Registered Scheme Number) for your business.

Card benefits

  • Complimentary insurances. This account offers complimentary liability insurance that helps protect your account against unauthorised transactions. It also offers transit accident insurance that helps protect cardholders against accidental death or injury when they are travelling as a passenger on a licensed plane, tourist bus, train or ferry when they have bought the ticket using their Corporate Mastercard.
  • Mastercard Smart Data. This online expense management system gives you access to up to 20 customisable reports, as well as user controls. It can help you save time on MIS and GST reporting, expense management and financial analysis. If you use the account to book travel, you'll also have access to travel data that could help you find ways to save on travel costs or negotiate supplier pricing.

Rates & fees

  • Foreign transaction fee. A 3% fee is applied to any transaction made in a foreign currency or that's processed outside Australia.
  • Cash advance interest rate. This card offers a cash advance rate of 17.45% p.a. for ATM withdrawals and other cash advance transactions.

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