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Commonwealth Bank Business Transaction Account ($0 Monthly Account Fee option)

Advertiser disclosure

The details shown below are for the Business Transaction Account - $0 Monthly Account Fee option

The details shown below are for the Business Transaction Account - $10 Monthly Account Fee option

Choose the version of this product that suits you best

  • Business Transaction Account - $0 Monthly Account Fee option

  • Business Transaction Account - $10 Monthly Account Fee option

Account fee
$0.00
Payment options
Apple Pay, Google Pay, PayID, Samsung Pay
Interest rate
0% p.a.
Account fee
$10.00
Payment options
Apple Pay, Google Pay, PayID, Samsung Pay
Interest rate
0% p.a.

Mozo editorial review Commonwealth Bank Business Transaction Account ($0 Monthly Account Fee option) - last updated: 24 June 2021

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What's hot
  • 2020 Mozo Experts Choice Award
  • Unlimited electronic transactions and CommBank ATM withdrawals in Australia
  • Multiple payment options - e.g. Apple Pay, Google Pay, Samsung Pay
  • Flexibility to choose between $0 or $10 monthly account fee option
What's not
  • Overseas ATM and purchase fees
Mozo snapshot

If flexibility is what you’re after in a business account, then the Commonwealth Bank Business Transaction Account could be your match. With this account, you can pick between two versions. The first option charges no account fees and gives you an unlimited number of electronic transactions and CommBank ATM withdrawals every month - features which helped it take out a 2020 Mozo Experts Choice Award.

The second option offers 20 cheque and staff-assisted transactions every month, and comes with a $10 monthly account fee. Both versions are compatible with a wide range of digital payment options including Apple Pay, Google Pay and Samsung Pay, offering businesses the convenience of purchasing stock or inventory with their digital wallet.

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Key features

The Commonwealth Bank Business Transaction Account has two options, depending on the sorts of transactions you prefer as a business owner. 

The first option hits the ground running with no monthly account fee, as well as unlimited electronic transactions and cash withdrawals from any CommBank ATM in Australia. Whether you prefer doing your banking in-person or from the comfort of your computer desk, this account has the answer for you - it gives you access to your money through a range of channels, including at a CommBank branch, over the internet, or via the CommBank app. Anytime you want to make an assisted transaction, there will be a $3 fee. However if your business requires banking in person, there is a second option for that. 

If technology isn’t your strong suit and you would rather the more traditional kind of banking, then the second option could interest you, as it comes with an additional perk of 20 cheque and staff-assisted transactions per month! Just keep in mind that for this option, you’ll have to budget for a $10 monthly account fee.

What’s more, having a CommBank Business Transaction Account means you can leave your wallet and linked Business Visa Debit Card at the office, as the account offers multiple cardless payment options, including Apple Pay, Google Pay, PayID and Samsung Pay.

Going on a business trip abroad? With the CommBank Business Transaction Account, you can access ATMs and make purchases with your Business Visa Debit Card while overseas. But bear in mind you’ll be charged a 3.00% foreign exchange commission on any purchases, and if you withdraw money from an international ATM, you’ll also have to factor in a $5 (plus 3% of the transaction value) fee per withdrawal. 

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Who is it good for

This is a good transaction account for businesses that want flexible payment and transaction options, and the peace of mind of banking with a big four. 

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Any catches

The CommBank Business Transaction Account may not be suited for big cash purchases, as there’s a $2,000 daily limit for ATM withdrawals.

If you’re walking into a CommBank branch to do your banking, keep in mind also that any over the counter deposits and withdrawals come with a $3 fee each time - unless you choose the $10 Monthly Account Fee option, which will provide 20 assisted transactions per month (and $3 per assisted transaction after you've used 20). 

And if you’re packing this card for your next business trip overseas, remember that you will be charged $5 plus 3% of the transaction value for any cash withdrawals from non-CommBank ATMs overseas. 

Details

Rates and fees information correct as at 21 October 2021. 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.
Rates

Balances from $0: 0.00% p.a.

n/a

n/a

Fees

$0.00

n/a

Unlimited electronic transactions.

$0.00

Commonwealth, Bankwest

$0.00

$3.00

$3.00

$0.00

$3.00

$0.00

$3.00

$5.00

3.00%

$0.00 monthly

Other financial bits

$0.00

$0.00

Features

$2,000.00

yes

no

yes

yes

yes

yes

yes

Phone fee only charged when transferring money to another financial institution

Optional customised alerts are available.

Atm card

$5.00

$0.00

3.00%

Debit card

$5.00

$0.00

3.00%

Details

Rates and fees information correct as at 21 October 2021. 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.
Rates

Balances from $0: 0.00% p.a.

n/a

n/a

Fees

$10.00

n/a

Unlimited electronic transactions and CBA ATM cash withdrawals in Australia. 20 cheque & staff-assisted transactions included per month

$0.00

Commonwealth, Bankwest

$0.00

$3.00

$3.00

$0.00

$3.00

$0.00

$3.00

$5.00

3.00%

$0.00 monthly

Other financial bits

$0.00

$0.00

Features

$2,000.00

yes

no

yes

yes

yes

yes

yes

Phone fee only charged when transferring money to another financial institution

Optional customised alerts are available.

Atm card

$5.00

$0.00

3.00%

Debit card

$5.00

$0.00

3.00%

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