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.
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.
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.
3 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.
4 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 balance before entering into any transactions. Alerts may be suspended by the Bank at any time without notice.
5 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.
6 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.
7 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.