Business Banking: Compare business banking solutions

The right mix of banking products can help you manage and grow your small business. From bank accounts and credit cards to business loans and EFTPOS machines, the right business banking products will help you start, maintain and grow your business effectively.

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Compare business banking solutions

Name Product Contactless Payments Instant Payments ATM Withdrawal Fee Monthly account fee
Westpac Business One Account - Low Plan
N/A
Osko, PayID
$0
$10
Special offer: Pay $0 Monthly Plan Fee for 12 months when you open a new Westpac Business One Low Plan account online before 3 December 2021 (T&Cs apply).
NAB Business Everyday Account ($0 Monthly Fee Option)
Google Pay, Apple Pay, Samsung Pay, Fitbit Pay, Garmin Pay
Osko, PayID
$0
$0
$0 monthly account-keeping fee.
Unlimited standard electronic transactions.
Sign up for a NAB Business Transaction Account and enjoy free digital transactions, no monthly fees, and a linked NAB Visa Debit card at no cost.

ANZ Business Essentials Account
Google Pay, Apple Pay, Samsung Pay, Fitbit Pay
Osko, PayID
$0.60
$0
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Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees
ANZ Business Online Saver
0.01%
0.01%
0%
$0
Pay no account keeping fees and earn an ongoing, variable rate of 0.01% p.a. on balances more than $5,000.
AMP Business Saver Account
0.75%
0.5%
0.25%
$0
New customers can earn an introductory rate of 0.75% p.a. for 6 months, reverting to an ongoing variable rate of 0.5% p.a. Earn interest on your business funds.
ING Business Optimiser
1%
0.1%
0.9%
$0
Introductory rate of 1% p.a. for 6 months, reverting to a rate of 0.1% p.a. Available on balances below $1,000,000.
Westpac Business Cash Reserve
0.01%
0.01%
0%
$0
Earn more interest on amounts over $10,000
NAB Business Cash Maximiser
0.01%
0.01%
0%
$0
Earn a competitive interest rate on balances $10,000 or more
Commonwealth Bank Business Online Saver
0.01%
0.01%
0%
$0
Ongoing, variable 0.01% p.a. when you link to Commonwealth Bank Premium Business Cheque Account or Business Transaction Account and maintain a balance of $10,000 or more.
ME Business Online Savings Account
0.6%
0.6%
0%
$0
Earn a competitive interest rate on your business savings.
Bank of Queensland Business WebSavings Account
Bank of Queensland Business WebSavings Account
0.45%
0.05%
0.4%
St.George Business Access Saver
0.01%
0.01%
0%
$0
Ongoing, variable 0.01% p.a. when you link to a St.George business transaction account. Available on the entire balance.
Hume Bank Professional Cash Management Account
0.01%
0.01%
0%
$0
Earn 0.01% p.a. for balance $100,000+. Interest rates are tiered, higher interest rates available on larger deposits.
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Name Product 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Westpac Business Term Deposit
0.07%
0.07%
0.10%
0.15%
0.20%
0.25%
0.30%
Enjoy flexible repayment and reinvestment options at the end of the term with no setup or service fee.
ING Business Term Deposit
0.05%
0.07%
0.07%
0.10%
0.25%
0.30%
A fixed interest rate for your business savings with a wide range of timeframes.
NAB Term Deposit
0.07%
0.08%
0.10%
0.15%
0.15%
0.25%
0.30%
Invest your money in a NAB Term Deposit and earn a fixed interest rate for the life of the term, with no setup or account fees.
This term deposit is for personal customers with deposits from $5,000.
ANZ Business Notice Term Deposit
0.05%
0.05%
0.05%
0.10%
0.10%
0.15%
0.15%
Invest your surplus business funds of $5,000 or more and enjoy a fixed rate of return. Choose a term length that suits your business, from one month to five years.
Commonwealth Bank Business Term Deposit
0.07%
0.08%
0.10%
0.10%
0.10%
0.25%
0.25%
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Rates last updated October 24th, 2021
Details Features
Tyro
Tyro
  • 24/7 local support available
  • Countertop and mobile EFTPOS terminals
  • 11+ payment forms accepted including Apple Pay and Android Pay
  • Least-cost routing available via Tyro Tap & Save
  • From $29 a month for terminal hire with no lock-in contracts
  • Compatible with any Australian financial institution
  • Integrates seamlessly with your existing point of sale
  • Used by over 36,000 Australian businesses
  • Available linked interest-earning transaction account
Go to site More info
Name Product Bonus points Rewards points per $ spent Complimentary travel insurance Minimum annual revenue Annual fee
American Express Qantas Business Rewards Card
120,000
1.25
Yes
$75,000
$450
ABN holders w/ $75,000 revenue. Receive 120,000 bonus Qantas Points when you spend $3,000 in the first 2 months.
NAB Qantas Business Signature Card
100,000
0.66
No
$75,000
$295
Receive 100,000 bonus Qantas Points when you spend $4,000 on everyday business purchases in the first 60 days. ABN required.
American Express Platinum Business Card
200,000
2.25
Yes
$75,000
$1,750
ABN holders w/ $75,000 revenue. Get 200,000 bonus Membership Rewards points and a $300 credit when you spend $5,000 in the first 3 months.
American Express Business Explorer Credit Card
100,000
2
Yes
$75,000
$149
ABN holders w/ $75,000 revenue. Get 100,000 bonus points when you spend $3,000 in the first 3 months. Plus, 2 airport lounge passes.
NAB Rewards Business Signature Card
100,000
1.25
No
$75,000
$175
Get 100,000 bonus NAB Rewards points when you spend $4,000 on everyday business purchases in the first 60 days. ABN required.
American Express Business Card
N/A
1.5
No
$75,000
$109
ABN holders w/ $75,000 revenue. Up to 1.5 points/ $1 spent and extended cashflow with up to 51 days interest-free on business purchases.
American Express Gold Business Card
100,000
1.5
Yes
$75,000
$169
ABN holders w/ $75,000 revenue. Get 100,000 bonus Membership Rewards Points when you spend $1,000 within the first 2 months.
American Express Velocity Business Card
75,000
1
Yes
$75,000
$249
ABN holders w/ $75,000 revenue. Receive 75,000 bonus Velocity Points when you spend $3,000 in the first 2 months.
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Name Product Min. Loan Amount Max. Loan Amount Loan Term Upfront Fee Filter Values
Swoop Finance Business Loan
$1,000
$100,000,000
1 to 20 years
Depending on your loan contract
Apply online and borrow between $1,000 and $100,000,000. Options for good and bad credit borrowers.
Zip Business Loan
$10,000
$500,000
Up to 5 years
No establishment fee
Borrow up to $500,000 with loan terms of up to 5 years. Flexible weekly, fortnightly and monthly repayment options available with no early repayment fees.
Lumi Unsecured Business Loan
$5,000
$300,000
3 months to 3 years
2.5% establishment fee
Apply for up to $300,000 from Lumi and benefit from short loan terms, no early repayment fees and once approved receive your funds in just one business day.
ebroker Business Loan
$5,000
$5,000,000
1 month to 30 years
$0 application fee
Small business loans available between $5,000 and $5,000,000. Get access to 70+ non-bank lenders on this independent platform.
Valiant Finance Business Loan Broker
$5,000
$1,000,000
3 months to 5 years
$0 application fee
A Business Lending Specialist from Valiant Finance can give you access to competitive business loans from over 70 lenders. Loans between $5,000 and $1 million are available. Request a call – your loan can be funded in 1 business day.
Moula Business Loan
$5,000
$250,000
1 to 2 years
2% Establishment fee
A loan of up to $250,000 that can be approved and funded within 24 hours. Available to businesses with 6+ months operating history and $5,000+ monthly sales.
Max Funding Unsecured Business Loan
$3,000
$30,000
1 month to 1 year
$0 application fee
An unsecured business loan from $3,000 that offers convenient pre-approval and no early repayment fees.
OnDeck Business Loans
$10,000
$250,000
6 months to 2 years
3% of loan amount
Apply for up to $250,000 and receive your approved funds in one business day. Minimum annual turnover of $100,000 and 1 year of trading history required.
Prospa Business Loan
$5,000
$300,000
3 months to 3 years
3% origination fee
Small business loans are available from $5,000 - $300,000 on terms of up to 3 years. At least six months trading history and a monthly turnover from $6,000 is necessary.
ANZ Unsecured Business Loan
$10,000
$1,000,000
Up to 15 years
$600
Apply for a loan from $10,000 with no security required and benefit from flexible repayment terms.
Octet Trade Finance
$100,000
$10,000,000
1 month to 2 years
Transaction fee 2.5%
Access a line of credit to pay suppliers in over 65 countries. Borrow from $200,000 up to $7 million.
ANZ Secured Business Loan
$10,000
$10,000,000
Up to 15 years
$600
Benefit from a low rate when you secure this loan with property and/or business assets. Loans from $10,000 available.
Westpac Business Loan
$20,000
$3,000,000
1 to 30 years
$0 application fee
Purchase a new vehicle, equipment or support your cash flow with a business finance solution from Westpac.
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If you are ready to speak with a consultant about different business insurance options available, simply enter your details in the form. Keep reading if you want to learn more about the different types of cover available.
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Finding the best business savings account for your needs

A business savings account allows you to earn interest on your business funds while you're not using them. These accounts are a convenient way to earn passive income and can be linked to your business transaction account for easy access whenever you need it.

Compare business transaction accounts

If your business is registered as a partnership, company or trust in Australia, you’re required to open a business transaction account. These are accounts designed specifically with businesses in mind and can be used to pay for your day-to-day business expenses, pay invoices and wages and receive payments from clients and customers.

Reducing business banking costs

Keeping costs to a minimum is a crucial aspect of budgeting effectively as a small business owner. Paying unnecessary banking fees can eat into your business profits but choosing the right transaction and savings accounts can help you minimise or avoid these fees entirely.

Are you looking for other business banking solutions?

You don't need to be an accountant to take charge of your company's finances. There are plenty of products in Australia that can make it easier for you to manage your business. These products provide unique solutions to make your operations smoother and are specifically designed with the needs of business owners in mind. Read our guides below to find out more about how these solutions can help you.

Watch: 5 winning strategies to improve small business cash flow


Read more on this topic

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4 Responses

    Default Gravatar
    vandaJune 13, 2018

    which bank provide cheapest and best and fast eftpos mobile terminal for small business

      Default Gravatar
      NikkiJune 15, 2018

      Hi Vanda,

      Thanks for your message and for visiting Finder.

      You may refer to our guide on how to set up an EFTPOS machine if you are looking for an EFTPOS terminal provider.

      Hope this helps. Feel free to message us back should you further questions.

      Cheers,
      Nikki

    Default Gravatar
    ellieMarch 22, 2018

    i need to know which australian bank offers the lowest foreign transaction fees.

    please let me know

    thank you

    ellie

      Avatarfinder Customer Care
      JeniMarch 22, 2018Staff

      Hi Ellie,

      Thank you for getting in touch with Finder.

      You can check some Australian banks offering debit cards with low foreign transaction fees. On the page is a comparison table you can use to see which account suits you. When you are ready, you may then click on the “Go to site” button and you will be redirected to the bank’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

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