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Payments built for your industry
Smart terminal is for businesses of any size. With enhanced connectivity2, wireless POS integration3, and same-day settlement4, a CommBank Smart terminal helps make your day-to-day payments even more seamless.
Business cash when you need it
Apply for a Business Overdraft in under 10 minutes. Link to your Business Transaction Account, with no regular fixed repayments.
Simply transact6 with your Business Transaction Account7 and be rewarded with great value discounts and offers to support your business.
Access a range of offers available to Business Visa Debit Card holders to help your business grow.
Whether you bank online or in a branch, we have an account that can help your business thrive.
Not sure how you'll do your banking? Switch between the options any time in NetBank and the CommBank app.
Online
May suit if you do most of your banking online.
In branch
May suit if you bank regularly in branch or at a post office.
or $10/month with 5 assisted transactions included (usually $5 each).
Charges may apply for assisted transactions, cheques and Quick Deposits. See all rates and fees for additional transactions.8
The Business Transaction Account does not have credit interest.
It will take about 8 minutes9
If you’re a private company you'll also need to confirm your directors, beneficial owners or trustees and they'll need to confirm their details online.10
Prefer to open an account in person? Book an appointment at your nearest branch.
You can open an account online if you’re:
Your account will be set up as any-to-sign, which means any director you choose will be able to operate it. You can change this in branch.
Have at least one of these handy:
If your company is new to CommBank and not registered as a sole trader, Australian private company (Pty Ltd), a self-managed super fund or a partnership, you'll need to open your account in branch.
If you want to authorise others to operate your account, you'll also need to go to branch.
Check to see which documents you'll need to bring with you first.
We'll also ask you to show us some ID, so make sure you have your Driver's licence, Medicare card or Passport too.
Link it to your Business Online Saver and earn interest on your full balance.
Link a credit card for easy payments of your balance.11
Take payments wherever your customers are. Accept all major card schemes with an EFTPOS terminal, build an online store, or take online payments through your existing platforms.
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 The Small Business Exceptional Everyday Account award was received in 2020-2024 for our Business Transaction Account - $0 monthly account fee option. For more information, visit mozo.com.au.
2 Subject to network coverage and compatible areas.
3 Available via an accredited POS vendor that provides the feature.
4 Same day settlement is available on all EFTPOS transactions made before 9:30pm (Sydney/Melbourne time) and all eCommerce transactions made before 5:30pm (Sydney/Melbourne time) for eligible customers with a CommBank Business Transaction Account and a linked CommBank merchant facility.
A Business Transaction Account is required to settle your transactions, if you apply online through NetBank. You can choose to settle your transactions to an alternate account held with us or another financial service provider by calling our Merchant Payment Solutions on 1800 730 554, any time after your application is finalised. Terms, conditions, fees and charges apply to Business Transaction Accounts and NetBank. Read the Terms and Conditions for Business Transaction and Savings Accounts (PDF) and the Electronic Banking Terms and Conditions (PDF) and consider whether these products are right for you. The target market for this product can be found within the product's Target Market Determination.
5 CommBank Yello for Business is available to selected business customers who meet certain eligibility criteria. A customer who meets the eligibility criteria but who has not been selected to participate in CommBank Yello for Business, will not be able to access the program. For more information on eligibility, refer to the CommBank Yello for Business Terms and Conditions.
6 You must complete 5+ eligible outbound transactions from your eligible business transaction account. An eligible outbound transaction means any completed transaction in the prior calendar month of the following types: payments or other purchases made using a debit card on an eligible business transaction account, including digital wallet transactions; cash withdrawals at an ATM or CommBank branch from an eligible business transaction account; payments or transfers to an unrelated third party from an eligible business transaction account.
7 An eligible CommBank business transaction account is defined as being a Business Transaction Account or a Stream Working Capital Transaction Account. You must hold an eligible CommBank business transaction account as at the end of the previous calendar month.
8 At the end of each month, the Bank will rank the following transactions in the following order and transaction fees will apply to transactions above the 5 threshold:
Cheque access may not be available in some circumstances. View our current Business Transaction and Savings Accounts Terms and Conditions for more information.
9 You can only open an account online if you're a new or existing customer who is either a sole trader, director of a private company (Pty Ltd), partner of a Partnership (up to 4 individuals) or trustee of a Self-Managed Super Fund (up to 6 individuals). 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 all related parties in accordance with our Privacy Policy - make sure you've got their permission to do so before you start. There may be instances when verification of your business and any other authorised account holders can take up to 48 hrs before your account can be operated.
10 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.
11 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.
The target market for these products will be found within the product's Target Market Determination, available here.
Apple, the Apple logo, Apple Pay, Apple Watch, MacBook Pro, iPad and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. Google Pay, the Google Pay Logo, Google Play and the Google Play logo are trademarks of Google Inc. Samsung, Samsung Pay, the Samsung Logo are trademarks of Samsung Inc.
From time to time the Bank may allow some transactions or payments to go through by making funds temporarily available for eligible customers. By utilising the overdraw feature, you may incur an Overdraw Fee of $15 per account, per day an overdrawing transaction or payment occurs. For each day your account remains overdrawn, Excess Debit Interest will be applied. For more information, 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.
This page offers links to other third party websites that may be of interest to CommBank website visitors. When you click on these links you will leave CommBank and will be directed to another site. These sites are not under the control of Commonwealth Bank of Australia.
Offers presented are from third party websites and may be varied or withdrawn at any time, without the control of Commonwealth Bank of Australia. Offers will also be subject to their own Terms and Conditions.
Daily IQ is a separate insights tools for general informational purposes only. Daily IQ draws information from different data points and sources, and as such results and insights may vary between the tools. Insights may not necessarily have regard to your business, financial situation or needs. You should, before acting on insights provided by Daily IQ, consider their appropriateness to your circumstances. Visit Daily IQ for more information.
