Cash management accounts

What is a business cash management account?

It is a specialized bank account designed to help businesses efficiently manage their cash flow and financial transactions. These accounts typically offer a range of features tailored to the needs of businesses, providing tools to optimize cash management, streamline banking processes, and potentially earn interest on surplus funds.

Key features of business cash management accounts:

1. Transaction Capabilities. Business CMAs often offer a variety of transaction capabilities such as deposits, withdrawals, electronic transfers, and bill payments to facilitate day-to-day business operations.
2. High-Interest Savings. Some business CMAs may provide the opportunity to earn interest on account balances, allowing businesses to maximize returns on their cash holdings.
3. Sweep Facilities. Many business CMAs offer sweep facilities that automatically transfer excess funds from the operating account to a high-interest savings or investment account, helping to optimize cash balances and maximize returns.
4. Account Management Tools. Business CMAs may offer additional account management tools such as transaction reporting, account reconciliation services, and customizable alerts to help businesses track and manage their finances effectively.
5. Overdraft Facilities. Some business CMAs may provide overdraft facilities to help businesses manage short-term cash flow gaps and unexpected expenses, subject to approval and terms.
6. Foreign Currency Services. For businesses engaged in international trade or transactions, some business CMAs may offer foreign currency services, allowing businesses to hold funds in different currencies and make or receive payments in foreign currencies.

Business cash management accounts play a crucial role in helping businesses effectively manage their finances, optimize cash flow, and achieve their financial goals.

You can also place free funds on a personal savings account.

Calculate your future income on a savings account (example): 

You can also get more detailed calculations by using our financial calculators.

What are the best cash management accounts?

It depends on various factors, including your specific business needs, transaction volumes, preferences regarding fees and features, and the reputation of the financial institution. Here are a few popular options: CommBank Business Transaction Account, NAB Business Everyday Account, Westpac Business One, ANZ Business Advantage Account, Macquarie Business Banking Account, ING Business Optimiser, BOQ Business Everyday Account.

See the similar FAQ about Australian banks:

• Bendigo Bank BPAY options
• Bendigo Bank merchant services
• CBA BPOINT offer
• CBA business banking
• CommBank virtual credit card

Details of companies offering the financial services:

AMP Bank

Head office’s address: 2-12 Macquarie St

Contact center: 131-267

Phone: 61-2-8048-8249

Mail address: AMP Bank Reply Paid 79702 Parramatta NSW 2124

Web-site: https://www.amp.com.au/

Swift code: AMPBAU2SRET.

Stock code: AMP

BSB: 939-200

CommBank

Head office’s address: 201 Sussex Street

Contact center: 13-22-21

Phone: 61-2-8055-4001

Mail address: Level 10, Tower One, Darling Park, 201 Sussex Street

Web-site: https://www.commbank.com.au/

Swift code: CTBAAU2S

Stock code: CBA

ABN: 48 123 123 124

Heritage Bank

Head office’s address: 400 Ruthven St

Contact center: 13-14-22

Phone: 61-7-4694-9000

Mail address: PO Box 190 TOOWOOMBA QLD 4350

Web-site: https://www.heritage.com.au

Swift code: HBSLAU4T

ABN: 32 087 652 024

BSB: 638-603

Hume Bank

Head office’s address: 492 Olive St

Contact center: 1-300-004-863

Mail address: PO Box 343 Albury NSW 2640

Web-site: https://www.humebank.com.au

Financial institution code: HUM

ABN: 85 051 868 556

BSB: 640-000

IMB Banking

Head office’s address: 47 Burelli St

Contact center: 61-133-462

Mail address: 47 Burelli St, Wollongong, NSW, 2500

Web-site: https://www.imb.com.au

Swift code: IMTIAU21

BSB: 641-800

NAB

Head office’s address: 800 Bourke Street

Contact center: 13-22-65

Phone: 61-3-8566-7023

Mail address: Level 4, 800 Bourke Street, Docklands, VIC

Web-site: http://www.nab.com.au/

Swift code: NATAAU3303M

Financial institution code: NAB

Stock code: NAB

BSB: 086-027

Suncorp Bank

Head office’s address: 80 Ann Street

Contact center: 13-11-55

Phone: 61-7-3362-2222

Mail address: PO Box A50 Sydney South NSW 1235

Web-site: http://www.suncorpbank.com.au/

Swift code: METWAU4B

ABN: 66 010 831 722

BSB: 484-799