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Commonwealth Bank Business Transaction Account

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Save time and easily manage cash flow with a Commonwealth Bank Business Transaction Account.

The Commonwealth Bank Business Transaction Account allows you to organise your business and personal bank accounts in NetBank, track your business transactions and conveniently monitor your business’s cash flow. The account provides several simple ways to access your funds, including unlimited electronic transactions and a Business Visa debit card to use in stores or online.

This account has a $10 monthly fee option which includes 20 staff-assisted transactions per month. If you need to make a lot of transactions in branch, you can switch to this account option at any time via NetBank, over the phone or heading into a branch. Or, you can keep the $0 monthly fee option and pay a small fee

$0

Account keeping fee

$0

ATM withdrawal fee

$5

Overseas ATM withdrawal fee

3%

Overseas transaction fee

of transaction value

Details

Product NameCommonwealth Bank Business Transaction Account
Monthly account fee$0
Card accessVisa
ATM Withdrawal Fee$0
Internatonal ATM Fee$5
International transaction fee3%
Monthly deposit required to waive account feeN/A

Expert review

Alison Banney

Review by


Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

The Comonwealth Bank Business Transaction Account allows you to switch between different account options depending on your banking needs. The $0 monthly fee option includes unlimited free electronic transactions, however you’ll need to pay a $3 fee for each staff-assisted transaction you make in branch.

If you regularly need to make deposits or withdrawals in branch, you can switch to the $10 monthly fee option instead which also includes unlimited free electronic transactions as well as 20 staff-assisted transactions. Being able to choose between the two fee options means you’re not paying for something that you don’t use, which is great.

You can also integrate your account with Xero or MYOB to easily import your transaction data from NetBank and help manage your accounting.

Key features

Account management

The Commonwealth Bank Business Transaction Account separates your business finances from your personal accounts. Not only does this make it easier to keep track of your business transactions at tax time, but it also ensures that you can easily monitor your business's cash flow at all times through NetBank.

MYOB and Xero integration

Integration with MYOB and Xero means you can streamline accounting by allowing you to send online transaction data with CommBank's NetBank.

Compare other CommBank business products


How to apply

If the Commonwealth Bank Business Transaction Account sounds like it has all the features you're looking for in a business account, click on one of the "Apply now" links on this page. You will be redirected to the Commonwealth Bank website where you can find out more about the account and complete an online application.

Eligibility

Before you apply, make sure you meet the following eligibility requirements:

  • Minimum age. You must be at least 18 years old.
  • Business requirements. Your business must be registered in Australia and have a valid ABN or ACN.

If you're new to CommBank business banking and either a sole trader or a director of a private company, you can open an account online in around 10 minutes. However, if you cannot be identified, or you are not a sole trader or a director of a private company, you'll need to visit your nearest CommBank branch to apply.

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