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$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.
As your company grows, the amount of transactions you make will increase which can make it hard to effectively manage all the money that comes in and out. It's easy to lose track of accounts payable and accounts receivable. This is where a business bank account can come in handy.
A business bank account is designed to help manage your company’s income and day-to-day expenses. It provides a way to pay bills, purchase new assets or receive payments from customers.
A business bank account works in a similar way to a personal bank account, but you can only open a business bank account if you're registered as a partnership, company or trust in Australia. These accounts keep track of your company’s income and expenditures in one place and come with a linked debit card (or multiple debit cards) to easily access your money.
These aren't for personal use, so you can only open a business bank account if you're a registered business, partnership or trust. You'll need to provide an ACN or ABN to prove this when opening the account. Your business must be registered in Australia, with a registered address.
Ready to open a business account? Follow these steps to open an account today.
Here are some things to look at when choosing a business bank account.
The Bank of Queensland Simple Saver Account offers an ongoing interest rate with no account conditions to meet. Open up to 9 accounts.
Earn a special fixed interest rate for terms of 1 or 2 years in length when you invest at least $25,000.
The Great Southern Bank Goal Saver Account has an ongoing bonus rate on balances up to $50,000 for customers aged 18-24.
The Newcastle Permanent Smart Saver Youth Account has an ongoing bonus rate for customers under 25.
The Bank of Queensland Smart Saver Account has an ongoing bonus rate on balances up to $250,000 for customers over 36.
The Everyday Account has no monthly account keeping fees, spend tracking features and instant payments via PayID.
The Bank of Queensland Future Saver Account has a high ongoing bonus rate on balances up to $50,000 for customers under 35.
Delphi Bank offers a range of personal banking products for customers in Australia.
Citi offers a range of personal banking products for customers in Australia.
hi, do you have a comparison table for business savings accounts and transaction accounts?
Hi Pam,
Thanks for your enquiry.
You can compare a range of high interest business savings accounts and you might also be interested to read our guide for small business bank accounts.
Additionally, you can compare transaction accounts side-by-side to find the right bank account for you. Select ‘Go to Site’ to head over to their website to apply. Please ensure to read through the relevant product disclosure statement and terms and conditions before you open an account.
I hope this helps you refine your search.
Thanks,
Belinda