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Account keeping fee: $0
ATM withdrawal fee: $0

Our verdict

This is a business account with linked physical and virtual debit cards, Xero integration and expense categorisation.

This account could suit you if you’re a small business or sole trader who does most of your banking online and wants to avoid banking fees and charges. Unlike some business bank accounts offered by the big banks, this account has no monthly account fee and no ongoing balance requirements to meet.

The Zeller Dashboard is a great online tool to help you manage your accounts, view your spending, assign receipts and send invoices and integrate with Xero for simplified accounting. Zeller also offers an EFTPOS terminal that could suit you if you like to keep all your business banking together in a single platform.

Just keep in mind that Zeller doesn’t offer any bank branches, so if you do a lot of your business banking in-branch, it might not be the best option for you. But Zeller does offer local support via phone, email and SMS, 7 days a week.

Pros

No monthly fees or minimum balance requirements
Complimentary Zeller Business debit card
Xero integration and invoice tools
Transfer funds in real-time

Cons

Overdraft facility currently unavailable
No bank branches

The Zeller Transaction Account has no monthly fees to pay or minimum balance requirements. You can link a virtual and physical debit card to the account to make payments with your business funds in store and online, track your business spending in real-time and integrate your account with Xero software for easy expense management.

Details

Key details

Product Name	Zeller Business Transaction Account
Monthly account fee	$0
Card access	Mastercard
Own network ATM fee	$0
International ATM Fee	N/A
Monthly deposit required to waive account fee	N/A

Eligibility

Minimum Age	18
Minimum opening deposit	N/A

Key features

Quick account set-up

You can set up an account quickly and easily online without needing to visit a branch. There’s no paperwork required.

No monthly fees

There are no monthly account-keeping fees attached to this business account.

No minimum deposit or ongoing balance requirements

There are no monthly minimum deposits attached to this business account and you don’t need to maintain a minimum balance. You also don’t need to have a set balance before opening the account.

Deposit funds easily or settle directly into the account

You can deposit money into the account easily and in real-time using your BSB and account number. You can also have funds settled directly into your account from your business transactions.

Zeller Dashboard

The online Zeller Dashboard allows you to see all your business accounts and spending, categorise your spending, send invoices instantly, integrate your accounts with Xero and manage your business contacts.

You can also easily manage and apply for your other Zeller products and services, such as your Zeller EFTPOS terminal.

Zeller mobile app

The free Zeller mobile app allows you to manage your business account on the go.

Free Zeller Business debit card

This account comes with a Zeller Business debit card that you can use to make purchases in person and online. This card is accepted anywhere that takes Mastercard worldwide.

You can also set up a virtual card to use when you don’t have your physical card on you and assign different debit cards to different staff members.

Access to fee-free ATMs

Zeller does not charge ATM fees to withdraw cash. However, you may be charged a withdrawal fee by the ATM operator. You can use your Zeller Business Debit Card at Westpac, CommBank, NAB and ANZ ATMs with no fee.

Send and settle invoices

You can send invoices directly from your Zeller Dashboard using your saved contact directory and have funds settled directly into your Zeller Transaction Account. Funds settle into the account nightly, 365 days a year.

How to apply

The Zeller Transaction Account is available to business owners, sole traders, partnerships and trusts and is not available for individual personal use. Applying for this account online takes around 5 minutes.

Eligibility

Minimum age. You must be at least 18 years old.
Australian citizen or permanent resident. You must be an Australian citizen or a permanent resident.
Business requirements. You must be the owner or director of the business. You will need to provide a valid ABN or ACN.

Documentation needed

Business identification. You will need to have your valid ABN or ACN handy.
Personal identification. New customers will need to provide identification documents when applying online such as your driver’s licence, Australian passport or Medicare card.

Sources

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. Zeller Transaction Account information page
2. Zeller Transaction Account TMD

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Alison Finder

Editorial Manager, Money

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Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full profile

Zeller Transaction Account

Pros

Cons

Key features

Quick account set-up

No monthly fees

No minimum deposit or ongoing balance requirements

Deposit funds easily or settle directly into the account

Zeller Dashboard

Zeller mobile app

Free Zeller Business debit card

Access to fee-free ATMs

Send and settle invoices

How to apply

Eligibility

Documentation needed

Sources

Sources

Your reviews

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