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Business bank accounts

Compare a large range of business bank accounts from the big banks to smaller online banks. Help your business grow with the right bank account.

1 - 11 of 79
Name Monthly fee Govt. Guarantee Own network ATM fee Card type
NAB Business Everyday Account
NAB logo
Apple Pay Google Pay Samsung Pay Fitbit Pay Garmin Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Go to siteMore Info
Zeller Business Transaction Account
Zeller logo
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Mastercard
Go to siteMore Info
Prospa Business Account
Prospa logo
Apple Pay Google Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Go to siteMore Info
Thriday Business Account
Thriday logo
Apple Pay Google Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Go to siteMore Info
Suncorp Business Premium Account
Suncorp Bank logo
Apple Pay Google Pay Samsung Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
Auswide Bank Business Access Account
AusWide Bank logo
Apple Pay Google Pay
Monthly fee
$10
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
Westpac Business One Account
Westpac logo
N/A
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Mastercard
More Info
ANZ Business Essentials
ANZ logo
Apple Pay Google Pay Samsung Pay Fitbit Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
AMP Cash Manager
AMP Bank logo
Apple Pay Google Pay Samsung Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
Heritage Bank Body Corporate
Heritage Bank logo
Apple Pay Google Pay Samsung Pay Fitbit Pay Garmin Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
Bank of Melbourne Freedom Business Account
Bank of Melbourne logo
Apple Pay Google Pay Samsung Pay
Monthly fee
$10
Government Guarantee
Own network ATM fee
$5
Card type
Visa
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Showing 11 of 79 results

Business bank accounts explained

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.

As your company grows, a business bank account helps you keep track of your cash flow and lets you keep your personal finances and tax separate from the business.

A good business bank should let you make transactions and track your money easily, with minimal fees and features like accounting software integration and a business debit card.

Other business banking products you should know about

A business bank account is a transaction account. These accounts are for spending and receiving money.

If you want an account to hold some of your business income over a longer term and earn some interest, you could look at a business savings account or even a business term deposit.

Who can open a business bank account?

Business bank accounts are not for personal use. You can open a business bank account as a sole trader, a company, a trust, an association, a not-for-profit or a self-managed super fund (SMSF).

And you'll need the following:

  • Your ID
  • An ABN or ACN

Your business will need a registered address, and you'll need to be 18 or over.

How do I find the best business account for me?

A good business bank account should have:

  • Minimal fees. Most banks don't charge a monthly account fee. But you should also look at what kind of transactions (if any) have a fee attached. Some banks don't charge fees for most online transactions but do charge fees for cashing or issuing cheques, or making staff-assisted transactions in a branch.
  • A business debit card. If you want to be able to access your funds easily, look for an account that comes with a business debit card.
  • Free transactions. The best business bank accounts offer unlimited electronic transactions for most types of transaction. Some charge fees for international transactions or overseas ATM withdrawals.
  • Accounting software integration. Some banks let you plus your accounting software (like MYOB or Xero) into your business bank account. This makes it easier for you to track your accounts and is a huge help at tax time.
  • Perks and support. Some banks offer extra benefits, such as small business advice or perks like discounts with partner providers.

How to open a business bank account

Ready to open a business account? Follow these steps to open an account today.

  1. Compare accounts. Use our table above to compare business bank accounts (see some tips below on how to compare business bank accounts).
  2. Complete the application. You can complete the application form online. You'll need to supply your personal details as well as your business ABN, ACN and tax file number and registered business name and address.
  3. Verify your identity. You'll need to verify your identity using your driver's license, passport or Medicare details. For a joint account, each person listed on the account needs to verify their identity.
  4. Account opened. When the bank has successfully verified your business and completed the application process, your new business bank account will be open and ready for use (this can happen in a matter of minutes!). You'll receive your debit card (or cards if you opened a joint account) in the mail within 3 to 5 business days.

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2 Responses

    Default Gravatar
    PamAugust 5, 2015

    hi, do you have a comparison table for business savings accounts and transaction accounts?

      Default Gravatar
      BelindaAugust 6, 2015

      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

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