Features & benefits

Sync with your accounting software

Integrate your online accounting software, like Xero, MYOB, QuickBooks or Wiise with your bank account to save time on admin and manual reconciliations.

Real-time alerts

Opt in for customised alerts to tell you when your balance is low or high,  your account is overdrawn or if you’ve received a payment.3

Find out what happens when you overdraw your business account.

Business insights

Access insights about your business in Daily IQ to help you optimise cash flow, enhance performance and grow customers.

Business Visa Debit card

Access your money and pay for business expenses where Visa is accepted. Use Cardless Cash5  before your card arrives. Instantly lock and block your card for extra control, using the CommBank app or NetBank.

Add your card to your phone or wearable to use Apple PayGoogle PaySamsung Pay.

Access from where you are

Access your Business Transaction Account in NetBank, ATMs and the CommBank app. Deposit money into your account using an Intelligent Deposit Machine.

$10 monthly account fee

Includes unlimited CommBank electronic transactions and up to 20 cheques, quick deposit or staff assisted transactions a month.2

Rates & fees

Fees

$10 monthly fee includes

  • 20 free cheque and staff-assisted transactions including quick deposits
  • Unlimited electronic transactions
  • Free withdrawals from any of our 4,000 ATMs across Australia

If you get an EFTPOS device on our Simple Merchant Plan and settle transactions to your Business Transaction Account, we’ll waive the $10 monthly account fee.6

Transaction fees

Once you've used up your 20 free transactions, you'll pay for

  • Quick deposits $0.20
  • Cheque transactions $1.50
  • Staff-assisted transactions $2.50
  • Over-the-counter withdrawals $2.50
  • Cheques cashed or drawn in branch $2.50

More rates and fees

How to open

You can open an account online if you're a sole trader or director of a private company (Pty Ltd). If your business is already with CommBank, this won't take long. 

This account will be set up as any-to-sign, which means any director you set up with us will be able to operate it. You can change this by going to a branch once it’s set up.

Otherwise, open your account at a branch with a small business specialist.

Open online

If your business is already with CommBank, this won't take long

Open online now

Here's how it works

  1. Fill in your personal details
  2. Tell us about your business
  3. Provide details for directors and owners - we'll email them to verify their ID online
  4. Open your account

What you'll need

Already bank with us?

We'll just need your business details

  • ABN or ACN
  • Registered business name
  • Full names, email addresses and mobile numbers for directors and beneficial owners7

New to CommBank?

We'll need to verify your ID and tax residency info as well as your business details. Have at least one form of ID handy

  • Australian drivers' licence
  • Birth certificate
  • Passport

Open in branch

Here's the quickest way to open your account at a branch

  1. See what documents you need
  2. Find a branch with a small business specialist
  3. Take your ID and documents to the branch

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

View more

Things you should know

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. 

1 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.

2 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.

3The 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 balance before entering into any transactions. Alerts may be suspended by the Bank at any time without notice. .

4We understand that from time to time, your account may become  overdrawn as a result of a direct debit or cheque payment being processed. The Bank may honour this payment by making funds temporarily available for eligible customers via our overdraw feature. For more information about this feature as well as how to turn it on or off, 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 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.

6 Excess usage fees of 1.5% applies to any monthly card turnover over your included amount. Additional fees and charges may apply including $30 chargeback fee (per chargeback), $110 service cancellation fee and $950 terminal non-return fee. The full fee list will be sent to you once we’ve checked everything successfully.  Please view our Merchant Agreement, Financial Services Guide and Operator and User Guides at our Merchant Support Centre.

7 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.

8 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.