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If you’re looking for a high interest account to hold funds that you don’t need day-to-day, we’ve got you covered with this guide to Australia’s best business savings accounts. In this article, we provide a side-by-side comparison of the big-four banks and Zeller. We break down base rates, maximum rates, and explain what to look for in a business savings account to help you find the best account for your needs. Compare the best business savings accounts in Australia Customers are eligible to earn up to 4% p.a. interest on funds saved in an active Zeller Savings Account from 1 February 2026. Terms apply . Interest rates accurate as at 5 February 2026. What is a business savings account? A business savings account is designed to hold surplus business funds while earning interest. Unlike a business transaction account, which is built for everyday payments and expenses, a savings account is best suited to money you don’t need to access regularly.  If you have idle funds sitting in your transaction account – whether these are set aside for tax, future investments, or a financial buffer, it could be a good idea to put these into a savings account where they will gradually accrue interest. If you’re not sure whether it’s the right move, discover Five Reasons a Savings Account Might Be Good for Your Business . How to choose the best business savings account There are a number of factors that you need to consider when deciding on the best business savings account for your requirements. Below is a 9-step checklist of features to look for when weighing up your options: 1. Interest rate Interest rates can vary widely — from as little as 0.01% to around 4% p.a. When comparing accounts, look for a competitive base rate (around 2.5% or higher) and a bonus rate with conditions you can realistically meet. 2. Bonus rate conditions Many providers advertise a maximum or bonus interest rate. This higher rate may only apply if you meet certain conditions, such as making regular deposits or limiting withdrawals. If those conditions aren’t met, a lower base rate applies. Be sure to know exactly what those conditions are before signing up.  3. Linked account requirements Most business savings accounts must be linked to a business transaction account with the same provider, so the ease of setting one up matters. Traditional banks may require a branch visit, while digital banks and fintechs typically offer fast, online-only applications. 4. Access and flexibility Consider how easily you can access your funds when you need them. Some business savings accounts allow instant transfers, while others limit withdrawals or require notice. If your cash flow fluctuates or you need funds for tax, payroll, or emergencies, access can be just as important as the interest rate. 5. Account conditions Some accounts impose conditions like regular deposits, minimum balances or restricted withdrawals. Make sure these requirements align with your business’s cash flow requirements before signing up. 6. Fees and charges Monthly account fees, transaction fees, or minimum balance requirements can quickly offset interest earned. When comparing accounts, it’s essential to look at returns net of fees, not just the headline rate.  7. Mobile app access Managing your savings on the go can make a big difference, particularly for business owners who don’t sit at a desk all day. A well-designed mobile app can make it easier to check balances, transfer funds, track interest earned and stay on top of cash flow in real time. 8. Online dashboard Look for providers that offer a clear, intuitive business cash flow dashboard that lets you view savings account balances, track interest earned, monitor deposits and withdrawals, and generate reports in real time.  9. Account support When something goes wrong, responsive customer support matters. Look at how quickly you can reach a real person, what support channels are available, and whether assistance is offered outside standard business hours. What is the best business savings account? Taking into consideration the nine factors listed above, the option that stands out most within the Australian market is a Zeller Savings Account . Here’s why: It offers the highest maximum interest rate (4% p.a.)  You can create a Zeller Account online in minutes  You can access your funds anytime you need them There is no minimum balance or restriction on withdrawals There are no fees or lock-in contracts Zeller Savings Account is held with a fully licensed, APRA-regulated Australian bank You can organise, save, and track funds, simply with Zeller Dashboard and Zeller App Customer support is available 24/7 over the phone, via email or SMS FAQs How does a business savings account differ from a transaction account? Unlike a transaction account, which is used for everyday payments, a business savings account earns interest and may limit withdrawals. Can I use a personal savings account for my business? Technically, sole traders can use a personal account, but keeping business funds separate is recommended for accounting, tax, and liability purposes. Why should I have a business savings account? A business savings account helps you separate surplus funds from day-to-day expenses, making it easier to manage cash flow and plan for future costs. It also lets your money earn interest while remaining accessible for emergencies, tax obligations, or planned investments. How do I open a business savings account? To open a business savings account you’ll typically need to open a transaction account with the chosen provider first. Banks will often ask that you visit a branch to open an account, whereas online providers, like Zeller, allow you to apply online. You will typically need to provide your ABN, Tax File Number, proof of identity, and business details. Once approved, you can link a transaction account and start saving. Which business savings accounts have the highest interest rates in Australia in 2026? Rates change often, but as of February 2026, Zeller Savings Account, Macquarie Business Savings Account, Great Southern Bank Business+ Saver , and AMP Bank GO Business Save offer the highest maximum interest rates of 4% p.a or more. What fee-free business savings accounts offer the highest interest rates? As of February 2026, Zeller Savings Account, Macquarie Business Savings Account, Great Southern Bank Business+ Saver, and AMP Bank GO Business Save accounts offer the highest maximum interest rates with no account fees. How often is interest paid on business savings accounts? Interest is typically calculated daily and paid monthly, though exact timing may vary by provider. What are bonus interest rates, and how do I qualify for them? Bonus rates are higher interest offers that usually require conditions such as regular deposits, maintaining minimum balances, or limited withdrawals. Can I set up automatic transfers to my business savings account? Yes — many modern accounts, like Zeller Savings Account, let you schedule recurring transfers from your transaction account so your savings grow automatically. What happens if I withdraw money before meeting bonus conditions? Withdrawing funds early may reduce or forfeit bonus interest, leaving you with only the base rate. Is interest earned on a business savings account taxable? Yes — interest earned is generally treated as business income and must be reported for tax purposes. Sources Wise Interest Account Airwallex Yield Account Westpac Business Cash Reserves Saving Account ANZ Business Online Saver CommBank Business Online Saver NAB Business Cash Maximiser Account

Can you take contactless card payments with just your mobile phone? Yes! Until 2024, accepting contactless card payments on your phone required you to have a mobile credit card reader either plugged into your phone or connected via Bluetooth. Now, thanks to the latest smartphone technology, you don’t need any extra hardware, all you need is a mobile app that's enabled with Tap to Pay technology. What is it called when you take contactless card payments on your mobile phone? The process of accepting a contactless payment on your phone (using its inbuilt technology, not a mobile card reader) is known as ‘ Tap to Pay ’. This term applies to both iPhone and Android devices that are using a financial services app – such as  Zeller App  – to accept contactless credit and debit cards and digital wallets. Can you use any smartphone as an EFTPOS terminal? Only selected iPhone and Android smartphones, with built-in  NFC technology  will support Tap to Pay. What app lets you take EFTPOS payments on your phone? There are a number of different payment apps that can be downloaded from the  App Store  or  Google Play Store  that support Tap to Pay. Zeller App is a great option for Australian businesses looking for a simple, affordable, and scalable platform to accept EFTPOS payments and manage their finances as they grow. Merchants wishing to take payments on their phone will simply need to download their selected app, and follow the steps to configure their device. Once configured, they can then start accepting EFTPOS payments immediately. Is it safe to take EFTPOS payments on your mobile phone? Taking contactless payments on your mobile phone relies on ‘ Near Field Communication ’, or NFC – the same technology that is used for making payments with a mobile wallet. Account information is transmitted from a customer’s card or mobile wallet to the payment processor via radio waves within a very close range, and once received, the processor uses the information to complete the transaction. By virtue of the fact that NFC only works within a couple of centimetres, it makes it incredibly difficult for a potential fraudster to intercept the transaction and steal sensitive information. Tap to Pay on both Android and iPhone via the Zeller App offers highly secure contactless payments that adhere to global security standards. Both platforms support various card types, regularly verify device security, include secure PIN processes and use advanced technology to ensure every transaction is not only convenient but also protected, maintaining the privacy and safety of user information. Additionally, Tap to Pay on iPhone ensures secure transactions through Apple's unique features, such as issuing decryption keys after thorough validation and leveraging the iPhone's built-in security element. How much does it cost to take contactless card payment on your mobile phone? Tap to Pay technology is facilitated by payment apps, each of which have their own pricing structures. The cost of taking card payments on your phone will therefore depend on which app you choose to process these payments. Zeller, for example, offers one low flat transaction fee of 1.4% for all cards, including American Express. The advantage of Zeller is that it is one of the few payment apps that also lets you pass the transaction fee onto your customer through surcharging . If you choose to surcharge, you will incur no fee whatsoever for accepting contactless payments on your phone. I need to take contactless card payments immediately, what should I do? If you want to be able to use your phone like an EFTPOS terminal within a few hours, it’s important that you choose a payment app that has a simple, online sign-up process. All the payment apps will require you to have an account with them first, and in the case of the banks, this will mean  opening a business bank account  which may take several days and an in-person branch visit. With Zeller, you can open an account online (or directly via the app), within a matter of minutes – no paperwork required. Once your Zeller Account is up and running, you simply need to download Zeller App, enable Tap to Pay on your device, and you’re ready to start taking card payments on your smartphone. What are the advantages of accepting contactless card payments on your mobile phone? It’s affordable Not all businesses can justify the upfront cost of an EFTPOS terminal, especially if they are not processing a large volume of in-person payments. Being able to use hardware that you already own is therefore a much more cost-effective solution. It allows new businesses or very small businesses to get up and running without the outlay of having to purchase an EFTPOS terminal. It’s mobile For mobile businesses that take in-person payments, having to carry a bulky EFTPOS machine around with you is inconvenient. Using your mobile phone as a payment terminal means you can keep it in your pocket and enjoy being hands-free. It’s great for emergencies For businesses that use a traditional EFTPOS machine, having an app installed and configured to take payments on your phone means that if there’s ever a day when your terminal lets you down or when you have a surge in customers, you won’t miss a beat. In the case of an outage or damaged EFTPOS machine, rather than having to revert to cash-only payments – which will almost certainly lead to lost sales in this day and age – you can keep trading as per usual by simply using your phone. Are there any other hardware-free payment options? In addition to Tap to Pay, there’s another simple solution for taking card payments instantly with no hardware required: Virtual Terminal. If you need a way to charge customers, but in-person payments aren’t possible, this is a great alternative.  Zeller Virtual Terminal  is a web-based tool that lets you take payments over the phone (as well as mail order, fax, or email) by manually entering a customer’s card details into your browser. Alternatively, merchants have the option of sending customers a secure payment link via email or SMS, where they can enter their card details themselves from their own device. Meet Zeller: an all-in-one financial services provider. When you  sign up for a free Zeller Account  today, not only will you be able to start taking card payments on your phone, you will also gain access to a suite of financial services, from a Zeller Transaction Account to debit cards, invoicing, virtual terminal and more. It only takes a few minutes to sign up, and it’s all done online – no paperwork or branch-visits required.

Whether you’re running a small market stall or a multi-venue operation, your point of sale will be the hub of your business. To help you choose the right setup, this article outlines how POS systems work and what you can expect from their hardware and software. What is a POS system? POS stands for point of sale, it refers to the place (in-person or online) where customers complete a purchase. A POS system is the combined hardware and software that is used to facilitate these purchases and assist the business in tracking and managing the sales. Today, POS systems encompass a variety of functions, including (but not limited to): Processing orders Taking payments Tracking inventory Providing sales analytics Generating receipts and order dockets Gathering marketing data Implementing customer loyalty programs POS systems vary greatly depending on the size of a business and the industry it's in, and come in the form of physical devices – such as countertop machines and mobile POS or 'mPOS' terminals – or virtual checkout points via online apps and kiosks for self-service orders. For small businesses, a smartphone or mobile device may suffice, while larger more complex operations may require computer systems, barcode scanners, receipt printers, and more. Read on to learn more about how POS systems work and the hardware and software included. How does a POS system work? There are four main steps involved in the point-of-sale process. Your POS system will use the data generated by the sale to offer you helpful business insights, and identify marketing opportunities. You will be able to understand which products are most popular, when your busiest time of day is, who your most valuable customers are, and more. What hardware is typically included in a POS system? If you operate a food truck or a market stall, you may opt for a mobile POS solution (also known as MPOS) which can be operated from a smartphone, tablet, or mobile EFTPOS terminal. However, for larger businesses, there is a range of POS hardware that can help support your operations. The following are the most typical pieces of hardware that are included in a POS system. Display and computer Many POS systems comprise a countertop computer where merchants can manage transactions, as well as a display that faces the customer. Traditionally, these machines have been bulky monitors with in-built cash drawers, but today, more and more businesses are opting for sleeker tablet-style setups. EFTPOS machine Businesses that process payments in-person, will at the very minimum, require an EFTPOS machine to accept card and contactless payments. These machines are most often supplied by a financial services provider like  Zeller  or a traditional banking institution. For smaller, more agile businesses that don’t want to be anchored down to the checkout counter, smartphone-based card readers such as  Tap to Pay with Zeller App  allow customers to make their purchase anywhere in the store. Cash drawer In Australia today, less than 20% of transactions use cash, which is why many businesses are choosing to go cashless. However, for those still accepting cash, you will need a cash drawer within your POS set up to securely store money securely and provide change to customers. Receipt printer While many modern POS providers are able to send digital receipts to customers via SMS or email, you may choose to offer your customers the option of a paper receipt. Additionally, if you run a hospitality business, you may need to print order dockets for the kitchen. In both cases, you will need a receipt and/or docket printer as part of your POS setup. Barcode scanner For businesses with a large product inventory, barcode scanners are a helpful way to quickly pull product information and add the cost to the checkout total. They help automate the checkout process, creating a faster and smoother customer experience. Plus, barcode scanners integrate with inventory management systems to automatically adjust stock levels. What features can I expect from POS software? Payment processing The most basic and important feature of a POS system is to accept payments. Depending on the needs of your business, this may include any or all of the following: Cash processing Accepting secure online payments through your eCommerce site Accepting credit and debit cards with an embedded chip Accepting contactless payments with mobile wallets (e.g., Google Pay, Apple Pay, Android Pay) Processing card-not-present transactions (ie. when your customer and their card aren’t in front of you so you have to manually enter their card details via  MOTO  or a  virtual terminal ) Inventory management Most POS systems include software that will automatically update your inventory whenever a customer orders a meal, or buys or returns an item. This allows you to easily track stock levels, anticipate when popular items will run out, and stay on budget by purchasing supplies only when necessary. Depending on the needs of your business you can find POS software that: Digitally scans products and counts them Manages stock variations (eg. size, colour, style, etc.) Uses unique serial numbers to track inventory Monitors inventory across multiple locations Automatically reorders popular items Table management For dine-in hospitality businesses, a POS system can also aid in managing floors and tables. Some software allows restaurants to make a visual floor plan, allowing staff to see what tables are occupied, reserved, and available at a glance. POS software can also help staff to make bookings and manage reservations, waitlists, and track table turnover rates to help managers identify peak times and optimise seating arrangements. Sales reporting For businesses to effectively manage their cash flow, sales need to be recorded, categorised, and updated in real-time.POS software can provide daily, weekly, and monthly sales reports, ranging from high-level summaries to comprehensive detailed analytics. These sales and revenue reports can help to identify top-selling products and seasonal trends, revenue trends, purchasing behaviours, return rates, how profitable products or services are, and more. Employee management In retail or restaurant environments, where many employees work hourly, POS systems can simplify time tracking and scheduling. Instead of manually logging hours, employees can clock in and out with a card swipe or code entry, enabling precise tracking of hourly wages. This system also facilitates quick identification of top-performing employees, particularly those working on commission. Customer relationship management (CRM) Some POS software doubles as a customer relationship management (CRM) tool, consolidating customer data and trends and enabling you to track purchase histories effectively. These POS systems will collect customer information (such as name, age, birthday, phone number and email address), associate sales with specific customers, help you implement customer loyalty programs, and integrate with email or SMS marketing tools. What is the difference between cloud and on-premise POS? Traditionally, POS systems have been installed and run on a computer or server on the business premises — referred to as “on-premise”. However, today, more and more cloud-based systems have become available, offering a POS that is entirely decentralised and accessed online. So, the principal difference between on-premise POS systems and their cloud-based counterparts is that the former is installed and run on a computer physically located on the business premises, while the latter is hosted on remote servers and accessed through the internet. To learn about the pros and cons of each system, read our blog article on the differences between  cloud and on-premise POS  here. Let Zeller take care of your payments While choosing a POS might take some further consideration (read our article on the best POS systems for small businesses here), choosing an EFTPOS provider is easy. Zeller is Australia’s favourite payments platform, trusted by thousands of businesses ranging from sole traders to national franchises. Whether you need a simple, zero-cost mobile solution or a fully integrated EFTPOS machine with the most advanced features (think tipping, bill-splitting, screensavers and more), Zeller’s platform is designed to adapt to the requirements of your business. Get in touch with us today to find out how we can help.