Features & benefits

Low $10 monthly account fee

Includes unlimited CommBank electronic transactions and 20 cheques, quick deposit or staff assisted transactions a month2.

Lock and block your card

Instantly lock and block your card for extra control, using the CommBank app or NetBank.

Automatic bank feed

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

Real-time alerts

Opt in for free alerts to tell you when your balance is low, high, or if you’ve received a payment4.

Business insights tool

Access free Daily IQ insights. See your sales, profitability, customer and cash flow trends, plus compare to your industry.

Rates & fees

The $10 account fee includes:

  • Unlimited CommBank electronic transactions2
  • Unlimited CommBank ATM withdrawals in Australia
  • 20 cheques, staff assisted or quick deposit transactions.

If you choose our Simple Merchant Plan, we’ll waive the $10 monthly account fee whilst you stay on your merchant plan5 

More rates and fees

It’s simple to apply

You can open online if you:

  • Are a sole trader or a director of a private company (Pty Ltd)
  • Have another director and/or any shareholders who own 25% or more of your company’s shares directly or through other shareholdings6.

You’ll need:

  • Your valid Australian Business Number (ABN) or Australian Company Number (ACN)
  • Business address
  • Full name and email address of any directors and/or shareholders who own 25% or more of your company’s shares (directly or through other shareholdings)
  • If you're new to CommBank, your Tax File Number (TFN) and at least one form of ID (Driver’s licence, passport, Medicare card, Australian passport or birth certificate).

Alternatively, you can apply at any branch

Open online now

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

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Things you should know

Offer is limited to customers who open a Business Transaction Account for the first time online between 17 March 2018 and 30 June 2018 (inclusive). Offer is not available to customers who do not complete their application online. The monthly account fee for eligible customers will be not be charged for 12 consecutive calendar months following account opening. The standard monthly account fee applies after this time, currently $10. Offer only applicable if the customer is an individual with an Australian Business Number (ABN) or a current Australian proprietary limited company with an Australian Company Number (ACN) and not more than two directors and shareholders. Offer cannot be used in conjunction with any other pricing offer and is limited to one offer per customer. Other fees and charges, terms and conditions apply to the Business Transaction Account.

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 Limit of one, up to $500 without a card withdrawal 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.  As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on the information, consider its appropriateness to your circumstances. Please view our Merchant Agreement, Financial Services Guide and Operator and User Guides at our Merchant Support Centre.

6 If you’ve got another director and/ or any shareholders who own 25% or more of your company’s shares directly or through other shareholdings, they will need to complete an online ID check as well. Your account will be created in NetBank and you’ll be able to put money into it but you won’t be able to withdraw or transfer out of it until we’ve confirmed the identity of the other directors and/or shareholders of your company. 

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. View Terms and Conditions for Business Transaction and Savings Accounts and our Financial Services Guide and consider them before making any decision about these products. Bank fees and charges may apply.