The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.
We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?
A business savings account is an account that allows you to earn interest on your business funds while you're not using them. It's like a regular high interest savings account, except it's for business use rather than personal use. A business savings account will sometimes have a minimum balance requirement that needs to be met in order to earn interest, and this balance requirement is usually higher than those on personal savings accounts.
By linking the business savings account to a business bank account, you can easily transfer money back and forth when you need to. It can be a good idea, if possible, to link your business savings account to a business bank account with the same bank so you can see both accounts side-by-side in your mobile banking app or Internet banking portal.
Like regular savings accounts, business savings accounts offer variable interest rates meaning they can change at any time. They're not fixed like they are with a term deposit or fixed-rate home loan. A lot of business savings accounts offer tiered interest rates, meaning the higher your balance the more interest you can earn. There might also be other conditions to meet to earn more interest, such as meeting the minimum balance requirement or making regular deposits. Banks often review savings rates after the RBA changes the cash rate. The RBA raised the cash rate to 4.85% on 3 November 2026, so check whether your account's rate has changed.
A business savings account is not for personal use. You can open a business savings account if you operate as a sole trader, partnership, company or trust in Australia. This is to ensure that all businesses are keeping their business finances separate from their personal finances. If you're a sole trader you're not legally required to use a dedicated business account, however you might find it easier to do so.
You will need to prove you're a business by providing your Australian Business Number (ABN) and/ or Australian Company Number (ACN), plus supply your registered business address when opening the account.
"You can access the money in your business savings account whenever you need it, making it a convenient option to get a bit more out of your business cash while you're not using it. The interest rates aren't overly high, but, it's better than just keeping the money sitting in a bank account earning nothing at all.
And unlike a term deposit which locks your money away, or other investments which carry risk, a business savings account is a low-risk, easily accessible option."
Business savings accounts are specially designed with a range of features to help your business better manage its finances. These accounts can:
Consider the following:
Ready to open a business savings account? Follow these steps to open an account today.
We put every effort into ensuring information on Finder is accurate. This article was reviewed by Justine McLean from our Editorial Review Board as part of our fact checking process.
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Hi,
May I use a business saver account to pay monthly bills so money in every week and withdraw end of month? I am with St George bank now.
Thanks!
Hi Sam,
Thank you for getting in touch with Finder.
Please note that a business savings account is an account that allows you to earn interest on your business funds while you’re not using them. I suggest that you contact your chosen bank on how you may use your business account on paying monthly bills and other transaction. Basically, when you apply for a business account, you may speak with a business relation manager to discuss your options or apply online.
Please make sure that you’ve read the relevant T&Cs or PDS of the business account to help consider whether the product is right for you.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Can I transfer funds electronically between Citi Bank and Commonwealth bank accounts
Hi James,
Thanks for getting in touch!
Yes, you can do an electronic transfer from your Citibank Savings to a Commonwealth Bank account. Note that for transfers to other Australian bank accounts – the payee would expect to receive the funds within 2 working days. Also, there are no fees charged for processing a domestic transfer.
Hope this helps! For any further questions, feel free to reach out to us again, we’re here to help.
Best,
Nikki
I have a business which I deposit cheques and cash into a transaction account at a branch. What would I do if I transferred my accounts to an online branch?
Hi Bron,
Thanks for getting in touch with finder. I hope all is well with you. :)
Check with your bank if they have an online banking system that you can use. From there, you can also determine the exact steps to transfer your account to an online account.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
Why is there a difference in interest rates between a business saver account and a personal saver account? Is there any reason why a business cannot use a personal saving account and earn the extra interest?
Hi Barb,
Thanks for your message and for visiting finder – the leading comparison website & general information service built to give you advice in your buying decision needs. How are you doing today?
A business saver account and a personal saver account’ interest rates are different because a business saver account means it is an account regulated by Australia since it earns income hence it will be subject to certain tax rates that will not be relevant to your personal savings.
Hope this clarifies,
Cheers,
Nikki