It’s simple to apply
- If 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)
- Your ABN/ACN
- Business/company 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.
Link your Business Transaction Account
Managing your business
Things you should know
1 You can only open an account in 10 minutes or less if you’re a new customer or existing customer who is either a sole trader or a director of a private company (Pty Ltd). Once we’ve identified you and checked your business details with ASIC successfully, you’ll see your account immediately in NetBank.
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 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.
6 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 (PDF 396kb) and our Financial Services Guide (PDF 59kb) and consider them before making any decision about these products. This advice has been prepared without considering your objectives, financial situation or needs. Before acting on the advice, please consider if it’s right for you. Bank fees and charges may apply.