Commonwealth Bank Business Transaction Account ($10 Monthly Fee Option)

Set up real-time account alerts

CommBank provides free, real-time alerts to let you know when your account balance is low or high, or when you've been paid. This gives you greater control over the cash flow of your business no matter where you are.

Unlimited electronic transactions

The Commonwealth Bank Business Transaction Account features unlimited CommBank electronic transactions and CommBank ATM cash withdrawals with no transaction fees. This ensures convenient and easy access to your money whenever you need.

Assisted transactions

With the $10 monthly fee account option, the account provides 20 free CommBank staff-assisted or transactions per month.

If you switch to the $0 monthly fee account option, you don't get any free staff-assisted transactions. Instead, there's a $3 fee for each assisted transaction you make. You can switch between these account options at any time in NetBank.

No minimum balance

There is no minimum balance requirement on this account, meaning you are free to focus your attention on your business rather than maintaining a specific amount in your account.

Business Visa debit card

The Commonwealth Bank Business Transaction Account comes with a Business Visa debit card, providing simple and convenient access to your funds wherever Visa is accepted.

24/7 access

You can manage your money at any time through NetBank, CommBiz, the CommBank app and ATM and phone banking services.

Pair with a savings account

You also have the option of combining your Commonwealth Bank Business Transaction Account with a Business Online Saver for no additional cost. This second account allows you to earn a competitive interest rate on balances of $10,000 or more.

Quick application process

It's quick and easy to apply for an account online, with the application process taking around 10 minutes.

To apply online, all you need to do is:

• Answer a few questions about yourself and your business.
• Verify your identity online (if you're a new customer).
• Verify your business details online.

Documentation needed

You'll need the following information and documentation handy when you apply:

• Business details. These include your ABN or ACN and your registered office address.
• Identification. If you're a new Commonwealth Bank customer, you must supply at least one form of ID, for example a driver's licence, Medicare card, passport or birth certificate.
• Contact details. CommBank also requires the names and email addresses of any other directors (if applicable) and of shareholders who own more than 25% of the company's shares.

What happens after I submit my application online?

Once you submit your application online, CommBank will be in touch within 3-5 working days. You'll receive a confirmation email and Welcome Pack with further instructions on setting up your NetBank.

If you're looking for an account that provides easy access to your funds and a convenient way to manage your business cash flow, the Commonwealth Bank Business Transaction Account is well worth a look. But before you apply, make sure to compare this account with other business transaction accounts to ensure you find the best product for your needs.