7 must-have financial features for any expanding business
If your business is growing rapidly, you need the right support. These tips from Tyro show you the essentials.
Sponsored by Tyro. With a Tyro Transaction Account, you can access your takings the same day1 and manage your cash flow seamlessly in one place.
1. Effective cash flow
One of the biggest challenges growing businesses face is cash flow.
Your expenses need to be effectively managed and paid, so you need to have easy access to your takings.
But if you don't have the right account, this can be tricky.
Having to wait for your money to hit your account can put a serious strain on your ability to operate.
The good news is that there are accounts out there that can give you same-day access to your takings.
Let's look at the Tyro Transaction Account as an example.
With the Tyro Transaction Account, you're able to access same-day settlement.1
This can free up your funds much more rapidly, allowing you to allocate them much more effectively.
2. Card access
The Tyro Transaction Account lets you transfer funds, set up direct debits and use other payment methods like PayID2 and Osko.3
But you're also able to attach a Tyro Visa Debit Card.
This Debit Card can be used for ATM withdrawals, as well as making easy in-person and online purchases.
So it can essentially function as a company card, allowing you (or authorised staff) to make convenient, on-the-spot payments.
You're also able to set spending limits via the Tyro Bank App or Tyro web portal.
Tyro Transaction Account
The Tyro Transaction Account allows business owners to take charge of their funds and make sure they're used in the ways that you want and need for your company.
Features include:
💵 Same-day settlement1
Get access to your takings sooner, freeing up cash flow for your organisation. Same-day settlement with a Tyro Transaction Account even includes weekends and public holidays!
💳 Card access
Empower yourself and your key team members with a Tyro Debit Card linked directly to your Tyro Transaction Account.
🚫 No account-keeping fees
With no set-up fees, no monthly costs and no minimum balance, the Tyro Transaction Account can help reduce your business banking overheads.
📝 Streamline your admin
Easily schedule recurring or batch payments to cut out the paperwork hassle.
3. A partner with local knowledge and support
If you're an Australian-based business, it makes sense to look for a payments partner that also has local knowledge.
This is particularly important as you expand and need a enterprise-grade payment solution.
As an Australian-based company with 20+ years of industry know-how, Tyro is able to offer local service, reliability4 and knowledge of the Australian market.
So, whether you're expanding into Australia or optimising your existing operations, Tyro provides the local expertise, integrated infrastructure, and dedicated support to scale your payment operations with confidence.
Ultimately, this means you're able to provide flexible payment options for your customers, across in-person and online – more on that in just a moment!
4. The ability to take a broad range of payments
One great enabler of cash flow is being able to integrate with a broad range of systems and accept a wide range of payments.
After all, the more choices you give your customers about how to pay, the easier it is for them to spend with you.
The Tyro Transaction Account lets you integrate with more than 450 POS systems.
You're also able to accept most major cards like Visa, Mastercard®5, eftpos, American Express and JCB.
Additionally, you can accept digital wallets like Apple Pay6, Google Pay7, and Samsung Pay.
5. Access to additional finance
When you're growing your organisation, it's important to have access to additional finance if it's required. Unexpected supplier costs, replacing equipment in a hurry or stocking up before the busy season can all lead to an expense time!
With this in mind, Tyro provides business loans to approved existing customers with a Tyro Transaction Account – the Tyro Flexi Loan.
Access up to $350,0008 in funding with a single, transparent flat fee. There are no hidden charges; just one predictable cost upfront.
There's no paperwork required and funding can be provided in as little as 60 seconds9 via the Tyro Bank App or Tyro Web Portal.
Additionally, you can repay the loan on a pay-as-you-earn basis. So you don't need to stress about big, pre-fixed payments that don't necessarily align with your cashflow.
6. Being able to leverage your current funds
So, cash flow is key.
But occasionally, you may find that you've got spare, unallocated funds.
Rather than leaving them idle, you can potentially use them to grow additional assets for the future of your organisation.
If you have a Tyro Transaction Account, you're also able to get access to Tyro Term Deposits.10
Term deposits allow you to lock in a guaranteed rate of return on your investment.
With periods available spanning 30 to 365 days, you're able to opt for a short or long-term investment.
7. Security and support
Protecting your assets is crucial for the long-term viability of your business.
Any deposits you make into the Tyro Transaction Account are protected under the Financial Claims Scheme up to $250,000 per account holder.10
The Tyro Bank App or the Tyro web portal also allows you to access support 24/7. So if there is an emergency, you'll be able to get help ASAP.
Learn more about how the Tyro Transaction Account can help your business today
Sponsored by Tyro. With a Tyro Transaction Account, you can access your takings the same day and manage your cash flow seamlessly in one place.
More information about Tyro
Tyro Payments Limited ACN 103 575 042 AFSL 471951 (Tyro) is the issuer of its own financial products. As Tyro does not take into account your personal circumstances, please consider if these products are suitable for you. T&Cs available at http://Tyro.com. You can contact Tyro on 1300 00 TYRO (8976) or http://tyro.com/support/ and access Tyro's dispute resolution process at tyro.com/complaint-resolution-process/.
1. Settlements are paid 7 days a week when you meet the following eligibility criteria:
- The daily takings from your Tyro EFTPOS and/or eCommerce facility are settled into the Tyro Transaction Account; and
- The Flexible Settlement Allocation feature is configured to leave a percentage of your daily takings in the Tyro Transaction Account each day.
Available settlement times are from 8pm to 5am (Sydney time). Excludes Alipay, HealthPoint and funds settled directly by Afterpay, American Express, JCB.
2. PayID® is registered trademark of NPP Australia Ltd ABN 68 601 428 737.
3. Osko® is registered to BPAY Pty Ltd ABN 69 079 137 518.
4. Based on FY23, FY24 & FY25. Find out more
5. Mastercard is a registered trademark of Mastercard International Incorporated.
6. Apple Pay is a trademark of Apple Inc., registered in the U.S. and other countries and regions.
7. Google Pay is a trademark of Google LLC.
8. Tyro may undertake a credit check with a credit reporting agency when checking your eligibility for a Tyro Flexi Loan. The Tyro Flexi Loan is subject to Tyro's eligibility and credit criteria. Acceptance of the Tyro Flexi Loan Terms and Conditions and a personal guarantee is required. Loan repayments are subject to Minimum Repayment amounts and a Tyro Transaction Account is required. Other conditions may apply.
9. Once you provide a valid personal guarantee, accept your loan summary and the Tyro Flexi Loan Terms and Conditions, the Loan Principal will be disbursed into your Tyro Transaction Account.
10. Deposits are protected under the Financial Claims Scheme, up to $250,000 per business account holder. For more information, visit ASIC's MoneySmart website or Financial Claims Scheme | APRA
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