Commonwealth Bank Business Banking
Commonwealth Bank provides a wide range of products and services for your business, including accounts, loans and payment processing services.
Starting, managing and growing a business is no easy task, which is where the Commonwealth Bank of Australia comes in. As well as offering products that are essential for the financial management of your business, CommBank provides a range of resources, services and technologies that can help with your business's progression. From developing your business plan and choosing the right type of finance to buying, selling, managing or growing your business, CommBank offers support for companies both large and small.
Search and compare CommBank business bank products
2 of 2 results
Compare other products
How we picked these
Finder Score for bank accounts
We assess multiple product features for transaction accounts from over 100 providers and assign each product a score out of 10.
Compare other products
How we picked these
How the Finder Score helps you find a better savings account
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?
2 of 2 results
Compare other products
How we picked these
Finder Score for term deposits
Finder Score assigns Term Deposit products a score out of 10, comparing interest rates and features, to make comparison easier. We assess over 150 products from more than 90 providers, assessing products across different terms to determine an average score per product.
2 of 2 results
Compare other products
How we picked these
Finder Score for bank accounts
We assess multiple product features for transaction accounts from over 100 providers and assign each product a score out of 10.
Compare other products
How we picked these
How the Finder Score helps you find a better savings account
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?
2 of 2 results
Compare other products
How we picked these
Finder Score for term deposits
Finder Score assigns Term Deposit products a score out of 10, comparing interest rates and features, to make comparison easier. We assess over 150 products from more than 90 providers, assessing products across different terms to determine an average score per product.
What about the mobile app?
Image Source: App Store| Manage Accounts | Ask Ceba | Set a savings goal |
|---|---|---|
 |  |  |
What are the types of business banking products from Commonwealth Bank?
- Business accounts. The range of accounts available include the Business Transaction Account, Premium Business Cheque Account, Business Online Saver, Business Visa Debit Card and the Farm Management Deposit Account.
- Business credit cards. CommBank has a range of credit cards specifically designed for businesses, with the Business Awards, Interest-Free Days card and Low Rate card. It also offers a Corporate credit card for larger companies.
- Merchant services. CommBank offers a full range of merchant services and facilities, including EFTPOS machines and eCommerce solutions. It even has its own range of portable card payment processing machines – Albert, Emmy and Leo – and offers 24-hour support services.
- Business loans. Whether you’re reinvesting in your business or expanding your company, CommBank offers a range of business loans that could be suitable. These include the BetterBusiness loan, Market Rate Loan, Bill facility, Business Overdraft, Business line of credit and CommSec margin loan. CommBank also offers car equipment and finance loans, credit cards and bank guarantees.
- Asset finance. There is a range of car and equipment finance solutions with payment plans that can be designed to suit the cash flow of your business. You can choose from car finance, equipment finance, medical equipment finance and technology equipment finance.
- Superannuation. CommBank has both employer superannuation and self managed super fund (SMSF) options and can create tailored super solutions for your business's needs. Products include Essential Super, FirstChoice Employer Super and a self-managed super fund.
- International money management. CommBank offers a range of services for businesses that deal with international transactions, with products for importers, exporters, international payment solutions and China and RMB solutions.
- Investments. CommBank offers short-, medium- and long-term investment options that could help you cover cash flow shortfalls, finance business expansion and build wealth for the future.
- Insurance. The business insurance products available through CommBank include life insurance, Business Overheads Cover, wholesale life insurance, income protection packages and vehicle insurance.
What are the features and benefits of a Commonwealth Bank business products
- Online banking. If your business requires around the clock attention, such as FX transactions or international trading, then CommBank's online banking platform could be a great tool for your business. NetBank for business is ideal for small business owners, whereas CommBiz is designed for a corporate environment.
- Managing risk. It's important to protect your exposure to risk at every stage of your business's development and growth. CommBank offers services to manage your commodity risk, currency risk and interest rate risk to help protect you against economic changes and market fluctuations.
- News, updates and tools. CommBank offers you access to expert advice, market updates and a range of tools that can help you run your business better. This includes business analysis tools, budget updates, industry updates (such as "Agri Insights") and results from the Future Business Index.
How do I apply for business banking with CommBank?
The application process depends on what type of product or service you wish to apply for. It also depends whether you intend to start your own business or if you’re looking for a product that will help you run your existing business.
If you already have a NetBank account, you can apply straight away for the following products.
- Business transaction account
- Premium business cheque account
- Merchant solutions
- Business Online Saver
- Business Awards credit cards
- BetterBusiness loans
- Equipment finance
You may need the following documentation for your application:
- Business and financial plan
- Personal and business information
With such a wide range of services available from CommBank, it's a good idea to consider what your business needs so you can choose the products that are suited to your goals. You may also want to consider talking to a CommBank representative about how these products can be tailored to your specific business needs to help you get a solution that really works for your business.
More resources on Finder
Ask a question
2 Responses
Read more on Commonwealth Bank Business Banking
-
Commonwealth Bank Business Transaction Account ($10 Monthly Fee Option)
The Commonwealth Bank Business Transaction Account offers a Business Visa debit card, easy access to your funds and a range of convenient tools to help you manage your business’s cash flow.
-
Commonwealth Bank Business Term Deposit
The CommBank Business Term Deposit offers terms from 1 month to 5 years, with fixed interest rates and no account fees.
-
Commonwealth Bank Business Transaction Account
The Commonwealth Bank Business Transaction Account offers a Business Visa debit card, easy access to your funds and a range of convenient tools to help you manage your business’s cash flow.
-
Commonwealth Bank Business Online Saver
With an account structured like Commonwealth Bank’s Business Online Saver, you have the opportunity to grow your business’ wealth.
When you and ur partner open a business account in both names does it take both of u to close the account
Hi Stephen,
Thanks for your question.
Generally, yes both parties will need to agree to close the account. You can have alternative arrangements in writing, depending on how accommodating your bank is.
Cheers,
Shirley