What’s happening?

As of 1 November we’ll be making some changes to the Business Transaction Account (BTA) by offering a $0 Monthly Account Fee (MAF) option and the ability for customers to move between BTA options when they like depending on their needs.

In addition, there will be an increase to assisted transaction fees to $3. 

Assisted transactions include:

  • Over the counter deposits and withdrawals
  • Cash deposits made via the Quick Deposit Box or QuickCash envelope banking
  • Cheque transactions
  • Over the phone withdrawals or transfers

Existing Business Transaction Account holders will have the option to choose a $0 MAF or remain on the $10 MAF option, where they will continue to have 20 assisted transactions included.

How does the new BTA option compare to the current one?

  
Current BTA
From 1 November
From 1 November
Monthly Account Fee
$10
$0
$10
Included Assisted transactions*
20
0
20
Cost per additional Assisted transaction 
Up to $2.50 per transaction
$3.00 per transaction
$3.00 per transaction
Features and Benefits
Switch to the $0 MAF BTA any time in NetBank, over the phone and in branch.
Switch to the $0 MAF BTA any time in NetBank, over the phone and in branch.

How to sign up to the new $0 MAF BTA?

The $0 MAF BTA will be available to new and existing customers from 1 November.

If you are an existing Business Transaction Account (BTA) customer:

From 1 November, there will be three options for making the switch from your current $10 monthly account fee BTA to the new $0 monthly account fee option:

  1. Logging into NetBank
  2. Contacting the Business Banking Contact Centre on 131 998
  3. Visiting your nearest branch

You can switch between the two BTA MAF options, as many times as you like depending on your needs. Your account details will remain the same.

If you would like to open a Business Transaction Account (BTA) with $0 monthly account fee:

  1. You can set up a BTA $0 MAF online2 in minutes using your NetBank log in
  2. Contact your Relationship Manager
  3. Visit your nearest branch

How do I register for NetBank?

You can register online now. You’ll just need your:

  • Card number and PIN
  • Mobile phone number that’s on file with us

You can also register over the phone by calling 13 2221 or visiting your nearest branch.

Alternatively if you won’t be using NetBank, you’ll be able to switch your BTA by calling Business Banking Contact Centre on 13 1998 or visiting a branch any time from 1 November.

What’s next?

If you have a BTA account we will be in touch again when these options become available including instructions on how you can make the switch. 

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 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 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.

Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian credit licence 234945.