BankSA Business Access Saver

BankSA Business Access Saver

Maximum Variable Rate

0.50

Standard Variable Rate

0.50

The Business Access Saver from BankSA allows your business to set money aside, such as for tax and GST payments.

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

Product details

This BankSA Business Access Saver account helps you keep you personal and business funds separate. The account requires no minimum monthly balance, has no account keeping fees and offers free banking online, making it easy for Australian business owners to manage their funds.

Earn interest on your balance while also having full access to your business funds.

Product Name
BankSA Business Access Saver
Maximum Variable Rate
0.50% p.a.
Standard Variable Rate
0.50% 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. If you're looking for a personal account instead, take a look at the range of accounts offered by BankSA.

Interest rate of 0.50%.

The Business Access Saver offers a variable interest rate on your savings of 0.50%, allowing you to earn some extra cash just for saving some.

Interest calculated daily.

Your interest is calculated daily based on the account balance and earnings deposited into the account at the start of the following month.

No monthly fees.

You will not be charged any account keeping or other monthly fee with the Business Access Saver, but be mindful that your linked account may require ongoing monthly payments to maintain.

No minimum balance.

You will not be required to maintain a minimum balance in the Business Access Saver account, so you can get started right away.

Linked transaction account available.

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.

Easy access to your account and unlimited transactions.

Keep an eye on 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 fee per transaction.

Mobile banking app available.

After signing up for the BankSA online banking feature, you can download the free 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. Make sure you meet the following eligibility criteria, and have the necessary documents handy before applying.

Eligibility requirements

  • 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.
  • Minimum age. You must be over 18 years old.

Documentation needed

  • 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.

 

What happens next?

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.

 

Back to top Back to top Back to top

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.
Ask a question