Simple & secure business banking

Unlimited free electronic transactions

No fees for online and card payments or withdrawals at any of our ATMs.1

Smarter business banking tools

Free business insight tools and accounting software sync.

Protection for unauthorised transactions

We’ll protect you from losses due to unauthorised transactions on personal and business accounts when you take the necessary steps to stay safe online.

Local & helpful support

In-app messaging with our customer service team or virtual assistant, plus Australian based phone support.

Complete control over your business transactions 

Open online now

Business Visa Debit card free with your account

  • Start using your account before your card arrives with Cardless Cash2
  • Tap and pay your way with Apple Pay, Google Pay and Samsung Pay
  • Temporarily lock your misplaced card through the CommBank app

Run your business on the CommBank app

  • Make and take payments, check statements all from your phone
  • Get a quick glance at money in and money out with Business Cash Flow View
  • Smart Alerts3 instantly tell you if your account balance is low, high, overdrawn4 or if you’ve just been paid

Valuable offers for our business customers

All of these and more, tailored for businesses just like yours. 

A business account that works the way you do

Whether you bank online or in a branch, we have an account that can help your business thrive. 

Not sure how you'll do your banking? Switch between the options any time in NetBank and the CommBank app.

Online

May suit if you do most of your banking online. 

$0 Monthly account fee
  • Pay $5 per assisted transaction or $10 per QuickCash deposit

 

Open online now

In branch

May suit if you bank regularly in branch or at a post office.

$10 Monthly account fee
  • 5 assisted transactions included
  • $5 per assisted transaction or $10 per QuickCash deposit after you've used 5
Open online now

Fees & rates

  • $0 Monthly account fee

    or $10/month with 5 assisted transactions included (usually $5 each).

  • $0 Electronic transaction fees

    Plus no fees for deposits or withdrawals at any of our ATMs1.

  • Assisted transactions, cheques and Quick Deposits

    Charges may apply for assisted transactions, cheques and Quick Deposits. See all rates and fees for additional transactions5.

  • Interest rate

    The Business Transaction Account does not have credit interest.

    See all rates and fees

How to open online 

It will take about 15 minutes7

  • Step 1: Fill in your details. We’ll setup your Netbank and verify your ID
  • Step 2: Verify your business or SMSF
  • Step 3: When your account is ready to be opened, we’ll email you. This usually takes around 48 hours

Open online now

You'll need

  • Your ABN
  • Your ACN (if you have one)
  • Your ID (if you’re new to CommBank)

If you’re a private company you'll also need to confirm your directors, beneficial owners or trustees and they'll need to confirm their details online.8

Frequently asked questions

You can open an account online if you’re:

  • A sole trader
  • An Australian private company (Pty Ltd)
  • A self-managed super fund (SMSF)
  • A partnership (up to 4 individuals as partners)

Your account will be set up as any-to-sign, which means any director you choose will be able to operate it. You can change this in branch. 

  • Australian Business Number (ABN). Not sure? Look up your ABN
  • Australian Company Number (ACN) if you have one. Your ACN must be linked to an ABN, or you’ll need to visit a branch to apply
  • Registered business name
  • Full names, email addresses and mobile numbers for directors and beneficial owners8
  • Foreign entities can obtain more information on the requirements by visiting a branch or calling 13 19 98

Have at least one of these handy:

  • Australian drivers licence
  • Birth certificate
  • Passport

If your company is new to CommBank and not registered as a sole trader, Australian private company (Pty Ltd), a self-managed super fund or a partnership, you'll need to open your account in branch. 

If you want to authorise others to operate your account, you'll also need to go to branch.

Check to see which documents you'll need to bring with you first. 

We'll also ask you to show us some ID,  so make sure you have your Driver's licence, Medicare card or Passport too. 

Find a branch

Link your Business Transaction Account to your other accounts

Business Online Saver 

Link it to your Business Online Saver and earn interest on your full balance.

Business Credit Card

Link a credit card for easy payments of your balance.9

Sell online or in person

Take payments wherever your customers are. Accept all major card schemes with an EFTPOS terminal, build an online store, or take online payments through your existing platforms.

Not-for-profit or community organisation?  Set up a Society Cheque Account.

View more

Things you should know

  • * DBM Australian Financial Awards 2023 – ‘Most recommended Major Business Bank’ and ‘Most Recommended Business Bank Account (Major Bank)’. Presented March 2023. Award is based on information collected from the DBM Atlas research program – feedback from over 18,000 businesses, January 2022 to December 2022.

    This information has been prepared without taking into account your individual or business needs and objectives. You can view the Terms and Conditions for Business Transaction and Savings Accounts, our Financial Services Guide and the Electronic Banking Terms and Conditions and should consider them before making any decision about these products and services. Bank fees and charges may apply. 

    Excludes non-Commonwealth Bank ATMs here and all ATMs overseas, EFTPOS transactions overseas, transfer group payments to third parties, international money transfers, CommBiz and NetBank service fees and separate services such as bank cheques, periodic payments and transfers/deposits to other banks. Wholesale relationship managed customers may be notified at any time that their account is subject to transaction fees on electronic transactions and Commonwealth ATM cash withdrawals.

    2 Cardless cash is available from any CommBank ATM. Withdrawals are limited to a total of $500 per day. CommBank app, NetBank, NetCode and account access required. Full conditions on app.

    3 The Bank does not charge for the alerts service, but you may incur message and data charges from your telecommunications service provider. Alerts are sent in real-time 24/7. Delivery of alerts may be delayed for various reasons, including service outages affecting your phone, wireless or internet provider; technology failures; and system capacity limitations. Please check your available funds before entering into any transactions. Alerts may be suspended by the Bank at any time without notice.

    4 From time to time the Bank may allow some transactions or payments to go through by making funds temporarily available for eligible customers. By utilising the overdraw feature, you may incur an Overdraw Fee of $15 per account, per day an overdrawing transaction or payment occurs. For each day your account remains overdrawn, Excess Debit Interest will be applied. For more information, please view What happens when you overdraw your business account?

    The overdraw feature is offered at the Bank’s discretion. The account may also become overdrawn if a merchant completes an offline or unauthorised payment.

    5 At the end of each month, the Bank will rank the following transactions in the following order and transaction fees will apply to transactions above the 5 threshold:

    1. Quick Deposits - cash and cheque deposits
    2. Cheque transactions
    3. Assisted transactions

    Cheque access may not be available in some circumstances. View our current Business Transaction and Savings Accounts Terms and Conditions for more information.

    A full list of access fees for international transactions and withdrawals using a Business Visa Debit Card can be found in the Terms and Conditions for Business Transaction and Savings Accounts  (PDF 396kb)

    7 You can only open an account online if you're a new or existing customer who is either a sole trader or director of a private company (Pty Ltd). You'll need to set up your business with us so we can verify your business details with ASIC. Once your beneficial owners and nominated directors have verified their ID (we'll email them instructions to do this online), you'll be able to open and start using your account. You'll be providing information to us on behalf of directors and owners in accordance with our Privacy Policy - make sure you've got their permission to do so before you start.

    If you’ve got other directors and/ or any beneficial owners, they will need to verify their ID online. A beneficial owner is an individual who owns 25% of the company; but if no-one does, controls 25% of the company; but if no-one does, exercises control by way of making key financial or operational decisions, like a CEO. We'll get you to confirm their details so we can email them instructions to do this. Once they've completed this, you'll be able to open and start using your account.

    9 Applications for finance are subject to the Bank's normal credit approval. Full terms and conditions are included in our Letter of Offer. Bank fees and charges may apply. This advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on this advice, consider its appropriateness to your circumstances. Applications are subject to the Bank's normal credit approval. Fees and charges are payable. 

    The target market for these products will be found within the product’s Target Market Determination, available here.

    Apple, the Apple logo, Apple Pay, Apple Watch, MacBook Pro, iPad and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. Google Pay, the Google Pay Logo, Google Play and the Google Play logo are trademarks of Google Inc. Samsung, Samsung Pay, the Samsung Logo are trademarks of Samsung Inc. 

    Daily IQ is a separate insights tools for general informational purposes only. Daily IQ draws information from different data points and sources, and as such results and insights may vary between the tools. Insights may not necessarily have regard to your business, financial situation or needs. You should, before acting on insights provided by Daily IQ, consider their appropriateness to your circumstances. Visit Daily IQ for more information.