BankSA Business Access Saver

BankSA Business Access Saver

Maximum Variable Rate

1.00

Standard Variable Rate

1.00

Keep your business working capital hard at work when you keep it secured in the Business Access Saver from BankSA.

  • 24/7 account access
  • No monthly service fees
  • No minimum balance required

Product details

When you have access working capital from your business, it can earn a competitive interest rate in your business savings account. The BankSA Business Access Saver requires no minimum monthly balance and free banking online, making it easy for the Australian business owner to manage their funds and earn some extra cash in the meantime.

Earn a competitive interest rate with full access to your business funds.

Product Name
BankSA Business Access Saver
Maximum Variable Rate
1.00% p.a.
Standard Variable Rate
1.00% p.a.
Bonus Variable Rate
0.00% p.a.
Monthly Fee
$0
Minimum Opening Deposit
$0
Internet Banking
Yes
Phone Banking
Yes
Joint application?
Yes
Covered by Government Guarantee?
No

What are the features of the BankSA Business Access Saver Account?

The accounts you use to manage your business is a major decision, and you should be comparing benefits across a number of banks. As you examine the Business Access Saver, keep the following list of features in mind:

  • Interest earned. The Business Access Saver offers a competitive variable interest rate on your savings, allowing you to earn some extra cash just for saving some.
  • Calculating interest. Your interest is calculated daily based on the account balance and earnings deposited into the account at the start of the following month.
  • Monthly fees. You will not be charged any account keeping or other monthly fee with the Business Access Saver, but your linked account may require ongoing monthly payments to maintain.
  • Minimum balance. You will not be required to maintain a minimum balance in the Business Access Saver account.
  • Transaction account. A linked business transaction account through BankSA is necessary in order to transfer money into and out of your Business Access Saver. Both accounts must be held in same business name.
  • Access. Get information about your account and make transfers over the phone, online or with your mobile device. These services all provide you with free unlimited transactions. You can also have teller assistance at a BankSA branch four times in a month, but if you exceed that limit you will be charged a $3.00 fee per transaction.
  • BankSA app. After signing up for the BankSA online banking feature, you can download the app onto your mobile device from Google play or the App Store. This feature allows you to control your business savings from a mobile phone or tablet and find the nearest branch, check your balance and make transfers. Login using a custom four digit passcode or if you have a compatible iPhone using iOS8, you can login to your account with a fingerprint check.

Pros

  • 24/7 account access
  • No monthly service fees
  • No minimum balance required

Cons

  • Only available for businesses

How do you apply for the BankSA Business Access Saver?

If after careful comparison you have found that the Business Access Saver from BankSA is right for your business, you can complete their application online.

Eligibility

 

Clicking ‘Go to Site’ will take you to a secure application page, but before doing so you check the following requirements to make sure that you and your business are eligible:

  • Transaction account. You will need to have an eligible BankSA business transaction account to link your Business Access Saver to before proceeding with the application.
  • Business location requirements. Your business must be registered to operate in Australia.
  • Depository requirements. You will not need to make an initial deposit in order to open the BankSA Business Access Saver.

Documentation

If you and your business are eligible to proceed with the application, information on certain documentation related to your business will be needed. This will include:

  • Tax file number. To avoid withholding tax on the account and to ensure that you are in compliance with Australian tax laws, you will need to provide your tax file number (TFN).
  • Your business number. You can use any of the following when applying for the account to show that you are the owner of an Australian based business; Australian Business Number (ABN), Australian Company Number (ACN), Australian Registered Business Number (ARBN) or an Australian Registered Scheme Number (ARSN).
  • Transaction account information. You will need to provide your BankSA business transaction account information at the time of application in order for the accounts to be linked. If you don’t already have one you will be prompted to apply for an eligible business everyday account first before continuing with the Business Access Saver.

It should take about ten minutes to complete the application. BankSA will send you an email once it has been received informing you of any other information or steps required in order to complete the application and open your account.

 

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