Accounts for companies

When applying for a business account, first you should choose the right type of business account:

• Transaction Accounts - for everyday business banking needs
• Savings Accounts - to earn interest on surplus funds
• Foreign Currency Accounts - for businesses dealing with international transactions

Compare different banks and their offerings for business accounts, consider factors such as fees, features, online banking capabilities, and customer support.

Check the eligibility requirements and provide the necessary documents (ABN/ACN, Proof of Identity (for all business owners, directors, and signatories), utility bills, lease agreements, or other documents showing the business address, business structure documents, partnership agreement, trust deed, company constitution).

Determine who will have the authority to access and manage the account. Gather identification and personal details for all signatories. 

Visit the bank’s website and fill out the application form, providing details and uploading necessary documents, or apply for a branch of the bank with your documents.

The bank will verify your documents and information. This process may take a few days to a week. Once approved, the bank will set up your business account. You will receive account details, including your account number and online banking access.

Follow the bank’s instructions to activate your account. This may involve setting up online banking and ordering any necessary debit or credit cards.