Business Bank Account Comparison

Business banking is made cheaper and easier with a great everyday account‚ one that has the features you need and none of the fees you don't. Compare more than 67 business bank accounts in seconds to save on account fees, transaction fees and more.

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How can I find a great business bank account using Mozo?

Rather than jumping from site to site trying to keep track of offers from different banks, Mozo does the hard work for you. Comparing a variety of bank accounts is smooth sailing using our handy comparison table below, and if you like what you see, simply hit the blue ‘Go to site’ button to be directed to an online application. 

What should I look for when comparing business bank accounts?

From the fees you might pay (e.g. account fees and ATM fees) to the flexibility of the account (e.g. minimum monthly transactions allowed) and even the digital payment options available (e.g. Apple Pay and Google Pay), there’s plenty to compare before locking in a business bank account to suit your needs.

Small business bank account comparisons on Mozo - page last updated May 28, 2020 Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.

Search promoted business bank accounts below or do a full Mozo database search. Advertiser disclosure.

  • Business Cheque Account

    $0.00

    Unlimited free transactions from counter deposits, phone and internet. 10 free transactions from own-bank ATMs, EFTPOS, counter withdrawals, BPAY and cheques.

    $0 account fees with no monthly account keeping fees and No fees on a network of over 10,000 ATMs across Australia.

    • Heritage

    • Visa Debit

    • Balances from $0: 0.01% p.a.

    Read our Mozo Review to learn more about the Business Cheque Account

    Details Close

  • Business Advantage

    $10.00

    Unlimited free transactions from Eftpos, ANZ ATMs, phone, internet, cheques, over the counter deposits and withdrawals.

    • ANZ

    • Visa Debit or
      EFTPOS

    • Balances from $0: 0.00% p.a.

    Read our Mozo Review to learn more about the Business Advantage

    Details Close

  • Everyday Business Account

    $10.00

    5 free counter deposits, unlimited free ATM, EFTPOS, cheque, BPAY and internet transactions

    • BoQ, rediATM

    • Visa Debit

    • Balances from $0: 0.00% p.a.

    Read our Mozo Review to learn more about the Everyday Business Account

    Details Close

  • Business Extra

    $22.00

    Unlimited free transactions from Eftpos, own-bank ATM, phone, internet, cheques, over the counter deposits and withdrawals.

    • ANZ

    • Visa Debit or
      EFTPOS

    • Balances from $0: 0.00% p.a.

    Read our Mozo Review to learn more about the Business Extra

    Details Close

  • Freedom Business Account

    $10.00

    Unlimited free transactions from internet, phone, EFTPOS, network ATM, direct debits and direct credits. 30 free cheque and counter deposits and withdrawals.

    • St.George, Westpac, BankSA, Bank of Melbourne

    • Visa Debit

    • Balances from $0: 0.00% p.a.

    Read our Mozo Review to learn more about the Freedom Business Account

    Details Close

  • Business Access Account

    $0.00

    $3 plus $3 per $1,000 of account balance. Free internet and phone banking, no Eftpos fee for contactless transactions.

    • Greater

    • Visa Debit or
      EFTPOS

    • Balances from $0: 0.00% p.a.
      Balances from $100,000: 0.01% p.a.

    Read our Mozo Review to learn more about the Business Access Account

    Details Close

  • Business Access Account

    $0.00

    40 free transactions (agency, branch withdrawals, cheques deposits, direct debits, EFTPOS withdrawl, rediATM withdrawal). Unlimited BPAY, Cash Deposit, Visa Debit Card transactions

    • Peoples Choice Credit Union

    • Visa Debit

    • Balances from $0: 0.00% p.a.

    Read our Mozo Review to learn more about the Business Access Account

    Details Close

  • Business Cheque Account

    $0.00

    Unlimited free transactions from counter deposits, phone and internet. 10 free transactions from own-bank ATMs, EFTPOS, counter withdrawals, BPAY and cheques.

    $0 account fees with no monthly account keeping fees and No fees on a network of over 10,000 ATMs across Australia.

    • Heritage

    • Visa Debit

    • Balances from $0: 0.01% p.a.

    Read our Mozo Review to learn more about the Business Cheque Account

    Details Close

  • Business Advantage

    $10.00

    Unlimited free transactions from Eftpos, ANZ ATMs, phone, internet, cheques, over the counter deposits and withdrawals.

    • ANZ

    • Visa Debit or
      EFTPOS

    • Balances from $0: 0.00% p.a.

    Read our Mozo Review to learn more about the Business Advantage

    Details Close

  • Business Access Account

    $0.00

    $3 plus $3 per $1,000 of account balance. Free internet and phone banking, no Eftpos fee for contactless transactions.

    • Greater

    • Visa Debit or
      EFTPOS

    • Balances from $0: 0.00% p.a.
      Balances from $100,000: 0.01% p.a.

    Read our Mozo Review to learn more about the Business Access Account

    Details Close

  • Business Extra

    $22.00

    Unlimited free transactions from Eftpos, own-bank ATM, phone, internet, cheques, over the counter deposits and withdrawals.

    • ANZ

    • Visa Debit or
      EFTPOS

    • Balances from $0: 0.00% p.a.

    Read our Mozo Review to learn more about the Business Extra

    Details Close

  • Business Cheque Account

    $0.00

    Unlimited free transactions from counter deposits, phone and internet. 10 free transactions from own-bank ATMs, EFTPOS, counter withdrawals, BPAY and cheques.

    $0 account fees with no monthly account keeping fees and No fees on a network of over 10,000 ATMs across Australia.

    • Heritage

    • Visa Debit

    • Balances from $0: 0.01% p.a.

    Read our Mozo Review to learn more about the Business Cheque Account

    Details Close

  • Business Advantage

    $10.00

    Unlimited free transactions from Eftpos, ANZ ATMs, phone, internet, cheques, over the counter deposits and withdrawals.

    • ANZ

    • Visa Debit or
      EFTPOS

    • Balances from $0: 0.00% p.a.

    Read our Mozo Review to learn more about the Business Advantage

    Details Close

  • Business Extra

    $22.00

    Unlimited free transactions from Eftpos, own-bank ATM, phone, internet, cheques, over the counter deposits and withdrawals.

    • ANZ

    • Visa Debit or
      EFTPOS

    • Balances from $0: 0.00% p.a.

    Read our Mozo Review to learn more about the Business Extra

    Details Close

  • Business Access Account

    $0.00

    $3 plus $3 per $1,000 of account balance. Free internet and phone banking, no Eftpos fee for contactless transactions.

    • Greater

    • Visa Debit or
      EFTPOS

    • Balances from $0: 0.00% p.a.
      Balances from $100,000: 0.01% p.a.

    Read our Mozo Review to learn more about the Business Access Account

    Details Close

  • Business Cheque Account

    $0.00

    Unlimited free transactions from counter deposits, phone and internet. 10 free transactions from own-bank ATMs, EFTPOS, counter withdrawals, BPAY and cheques.

    $0 account fees with no monthly account keeping fees and No fees on a network of over 10,000 ATMs across Australia.

    • Heritage

    • Visa Debit

    • Balances from $0: 0.01% p.a.

    Read our Mozo Review to learn more about the Business Cheque Account

    Details Close

  • Business Advantage

    $10.00

    Unlimited free transactions from Eftpos, ANZ ATMs, phone, internet, cheques, over the counter deposits and withdrawals.

    • ANZ

    • Visa Debit or
      EFTPOS

    • Balances from $0: 0.00% p.a.

    Read our Mozo Review to learn more about the Business Advantage

    Details Close

  • Business Extra

    $22.00

    Unlimited free transactions from Eftpos, own-bank ATM, phone, internet, cheques, over the counter deposits and withdrawals.

    • ANZ

    • Visa Debit or
      EFTPOS

    • Balances from $0: 0.00% p.a.

    Read our Mozo Review to learn more about the Business Extra

    Details Close

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.

Business bank account resources

Reviews, news, tips and guides to help find the best business bank account for you.

Business bank accounts explained

Whether you’re in the process of setting up a new business or you’ve decided that it’s time for a financial refresh by switching banks, you've come to the right place. With over 60 different business bank accounts in our database, our comparison table makes searching for a great match for your business that much easier (and quicker).        

But what actually makes a great bank account for your business and what are some of the fees and features you’ll want to consider to make your decision an informed one? Read on below for more information on business bank accounts, including some of the most frequently asked questions about them.

Why do I need a business bank account? 

It’s not uncommon for small businesses owners to simply make use of their own personal bank accounts, but there may be a couple of advantages to opening a dedicated business bank account as well. 

  • Separate finances: It can be hard enough to find an individual transaction when scrolling through the debits and credits in your own personal bank account, let alone when there are business transactions flowing in and out too. That’s why many business owners choose to separate their finances by opening a dedicated business bank account.
  • Easier for accounting and tax: Speaking of which, separating your personal and business finances could make things a lot easier for your accountant, especially when it comes to tax time. That way there’ll be no confusion as to what’s personal and what’s business. 
  • More professional: Instead of sending customers your personal bank account details with your own name, a business bank account will display your business name. Plus with the creation of the New Payments Platform and PayID, businesses can forgo a BSB and account number altogether and instead use an ABN, ACN, mobile number or email addresses as their PayID to receive payments. 

Finding a business bank account match 

A bank account’s just a place to store and withdraw cash right, so why would I need to compare options? Well depending on your business needs, there are plenty of associated costs and features that you may want to weigh up first before signing up for any old business bank account. Here’s a quick breakdown of the costs and features to keep in mind when comparing accounts. 

Account fees

From ATM charges to over the counter withdrawal costs, there are a host of potential fees associated with business bank accounts, chief among them monthly account fees. Monthly account fees generally range from $5 all the way up to $20, which can easily start to add up over time. The good news is that there are a small number of accounts that don’t charge monthly fees at all, so these may be worth considering during your search.  

Transaction limits

Make a lot of transactions each month? Unlike a personal account, the number and type of free transactions you’re entitled to each month with a business bank account may be a crucial feature for your business. While the cost involved with making different types of transactions varies from bank to bank (many offer free transactions), the typical transactions you’ll need to consider include: via an ATM, EFTPOS, BPAY, direct debit, phone banking, internet banking, mobile app, cheque, and over the counter deposits. 

Payment options

While you’ll likely be issued with either a mastercard or visa debit card linked to your business bank account depending on the bank you go with, you may also want to consider any other payment options which are available including digital wallets like Apple Pay, Google Pay, and Samsung Pay. 

Banking app 

Speaking of digital options, one of the considerations you may want to make is the quality of the banking app or online banking platform your business bank account is linked to. While you’ll likely be able to use the app and online platform available for personal users, many banks also have dedicated apps and platforms for business customers. For example, the NAB allows businesses to check their balances, make fast payments via PayID and authorise batch payments (e.g. staff salary payments) all from the NAB Connect app.     

Overseas costs

Frequently travel abroad for business? If you’re likely to use your business debit card to pay then you may want to consider any overseas ATM withdrawal fees or foreign exchange commission attached to your card and account.

Picture of Kelly Emmerton
Tom Watson
Finance journalist

Tom Watson is a financial journalist at Mozo, specialising in fintech, property and business banking. Whether it’s reporting on banking trends or uncovering the latest product innovations, Tom’s mission is to keep our readers up to date with breaking Australian financial news. His work is often sourced in the media and across social media channels. Tom has a degree in Journalism from the University of Technology, Sydney.

Frequently asked questions (FAQs) about business bank accounts

What is the best small business bank account in Australia?

Because of the different fees and features available with each account it’s hard to pin down a single ‘best’ small business bank account. After all, different accounts will suit the needs of different businesses. Some will be looking to pay as little in the way of fees as possible, while others may be looking for a wide variety of free transaction methods or a linked card they can use abroad. 

The Mozo Experts Choice Small Business Account Awards can help though! In 2019, Mozo’s experts compared 65 different business bank accounts in order to determine some of the best value products in Australia, with a small number of accounts named as winners in the best Small Business Exceptional Everyday Account category. 

Should I just use my personal bank account for my business? 

Yes, you certainly can. And if you’re looking to make the switch, Mozo has a dedicated bank account comparison hub with 90 different personal bank accounts for you to compare.     

However, as we mentioned further above, you may find it advantageous to open a dedicated business bank account for a number of reasons, including to separate your business and personal finances make life easier for yourself (or your accountant) come tax time.

Should I look for a business bank account with an interest rate? 

The majority of business bank accounts don’t come with an interest rate, and those that do tend to offer rates that aren’t going to blow your socks off. So rather than searching high and low for a bank account with an interest rate above 0%, you’ll likely be better off looking for a business savings account. 

At Mozo we make that process simple, as you’ll be able to start your search for a richer interest rate by comparing over 40 different accounts using the Mozo business savings account comparison table.  

How do I open a business bank account? 

You’ve found a bank account fit for your business, but what’s next? Applying! And while you could pop into your local branch, one of the easiest ways to apply is online, so if you’re ready you’ll need a few bits of information including: 

  • Your Australian Business Number (ABN) or Australian Company Number (ACN) and your registered trading name 
  • Personal identification such as your passport, driver’s licence or birth certificate

Still want to compare your options? Head back up to our handy comparison table at the top of the page to start browsing, or hit the green ‘Search now’ button for even more business bank account offers.