Great Southern Bank Everyday Business Account
A transaction account for your day-to-day business spending with no account-keeping fees
This is a convenient everyday account to manage your business’s daily expenses. The account charges no monthly fees and offers an overdraft if needed to better manage your business cash flow.
Account keeping fee
ATM withdrawal fee
Overseas ATM withdrawal fee
Overseas transaction fee
of transaction value
|Product Name||Great Southern Bank Everyday Business Account|
|Monthly account fee||$0|
|ATM Withdrawal Fee||$0|
|International ATM Fee||$4.50 + 2.95%|
|International transaction fee||2.95%|
|Monthly deposit required to waive account fee||N/A|
|Contactless Payments||Google Pay, Apple Pay, Samsung Pay|
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.
This account is designed for your day-to-day business spending. It charges no monthly account keeping fee, which isn’t very common for a business account. You can make unlimited free electronic payments using Internet or mobile banking as well as BPAY.
You can also go into a Great Southern Bank branch if you need help making a transfer or to withdraw money, but there is a small fee for this. If you don’t live or work near a Great Southern Bank branch, you can also make deposits into the account at an Australian Post Office using Bank@Post. Making deposits with Bank@Post is free, however there is a $3 fee to make withdrawals.
You also have the option of adding a commercial overdraft facility to this account, which could come in handy to help manage cash flow.
No account-keeping fees
This account comes with no monthly account-keeping fees, so you can use every dollar in the account for your business.
You can choose to add a commercial overdraft facility to this account for times when you need a bit more cash than what's currently available in your account. This can help manage your cash flow.
Linked Visa Debit Card
This account comes with a free linked Visa Debit Card that you can use online or in-store wherever Visa is accepted throughout the world.
Access your account online or via an app
You can access your Great Southern Bank Everyday Business Account online with Internet banking or on the go with the mobile banking app.
Unlimited free online transfers
Make unlimited, free transfers from your account using Internet banking or mobile banking.
Fees apply to international transactions
When using your Visa Debit Card overseas an international transaction fee applies. This fee also applies to purchases made online in Australia from overseas merchants.
Deposit money at Australia Post
Take advantage of Bank@Post to deposit cash into your account at any participating Australia Post stores. This is helpful when you don't live or work near a local Great Southern Bank branch.
Access more than 10,000 ATMs for free
You can use your Visa Debit Card at any Great Southern Bank, Westpac, CBA, ANZ or NAB ATM within Australia to withdraw money for free. A withdrawal fee of $1.50 applies when using rediATMs.
Samsung Pay, Google Pay and Apple Pay available
You can add your Great Southern Bank Everyday Business Account Visa Debit Card to Samsung Pay, Google Pay or Apple Pay to start making secure contactless payments on the go with your phone.
How to applyIf you're ready to apply for this account, make sure you meet the eligibility criteria and have the necessary documents ready.
- Business use only. This account is for business owners, sole traders, partnerships or trusts only and is not for personal use.
- Residency requirements. Your business must be registered in Australia and registered with the ATO.
- Business details. You will need to have your business ABN or ACN handy as well as the Australian address for your business.
- Contact details. You'll need to provide your personal and contact detail as part of the application.
- Identification. New Great Southern Bank customers will need to provide two forms of ID, including an Australian passport, a driver's licence or a Medicare card.