Learn how Zeller Transaction Account compares to traditional business banks in Australia. Keeping accurate financial records is essential to running a business, and it all starts with a business bank account . However, navigating the muddy waters of bank jargon and fee structures is no easy task. To help make the decision easier for small business owners, we’ve compared the best business banking accounts in Australia, and weighed them up against Zeller, a smarter and more affordable non-bank alternative to your traditional business bank. Read on to discover why you need to open a business bank account , what factors you need to consider, and why an alternative financial services solution like Zeller could be the better choice for your small business. Bank accounts for Australian small businesses Every bank and financial services provider has its own approach to offering business transaction accounts and structuring the fees that come with them. Some have a wide range of add-on services that can be very valuable to the right business, but come at an additional cost. Others require fees simply for continued access and use, without any added benefits. Identifying what’s relevant and useful to your particular business will not only keep costs low, but ensure you are getting the maximum value from the service. Business bank account comparison table To help you find your way through the weeds, we’ve aggregated the fee structures and features of business bank accounts from six major Australian banks — Westpac , CommBank , NAB , ANZ , Suncorp and Bendigo Bank — and compared them to the Zeller Transaction Account in one simple comparison table. Simply select the two banks you would like to compare from the drop-down menu, and scroll down to compare all the different criteria you should consider when choosing a business bank account. What is a business bank account? A business bank account is a specialised bank account designed specifically for the needs of businesses. It is used to manage the financial transactions of a company, such as paying bills, receiving payments from customers, and managing payroll. Business bank accounts can be opened at most banks and financial institutions, and are typically offered in a variety of account types to suit the different needs of both large and small businesses. Why do you need a business bank account? Whether you’re planning a medium-sized enterprise or starting out as a sole trader, any business venture requires separating your personal and business finances. For businesses structured as a partnership, company or a trust, having a business bank account is a legal requirement for tax purposes; For sole traders, a business bank account is not required under Australian law, but is strongly recommended. Separating business from pleasure in your bank accounts makes reconciliation for bookkeeping and tax considerably easier, professional and legitimate. Additional benefits include: Is there an alternative to a traditional bank? Yes, business owners nowadays can access a wide range of non-bank financial services solutions, as an alternative to their traditional business bank. Additionally, you should also re-consider the value you can get from an alternative to the traditional business bank — rather than just an account to store money in, many new providers offer an array of powerful business banking features. When comparing business banks, look for solutions that include features such as instant sub-account creation, the ability to issue virtual and physical business debit cards in a click, real-time fund transfers, a dedicated business banking mobile app, transaction tagging and reporting, integrations with your accounting software, customer-level tagging and relationship management reports,  and more. If you’re considering a non-bank alternative to your traditional provider, sign up for a free Zeller Transaction Account to review all of the features and functionality included that you may never get from a regular business bank. Zeller's financial solution Zeller is a popular Australian alternative to the traditional, outdated business bank, that offers business owners a complete financial services solution with free Transaction Accounts , Business Debit Cards , an EFTPOS Machine , invoicing software , and more, all available from one convenient and free account. If you require a way to store, manage and spend your business funds, and accept electronic payments, but have no need to visit a bank branch, a non-bank such as Zeller is a very compelling choice. With Zeller: Whether you’re paid by card or funds transfer, access to your funds is generally quicker than traditional banks, which often use legacy technology and complex internal processes. You can create multiple accounts and debit cards at the click of a button. Fund transfers are made in real-time. A powerful web portal and leading edge mobile app allow you to send and receive funds transfers, and work with your transaction accounts, debit cards, and real-time card sales. Contacts can be assigned to transactions, and you can add notes and images to transactions, to simplify reconciliation. Everything is consolidated in one, easy-to-use platform: from your EFTPOS payments to transfers, settlements and expenses. You can even write, send and track invoices in your Zeller account. Your Transaction Account can be synced with Xero’s Bank Feeds Integration, for seamless bookkeeping reconciliation A fee-free small business account with no paperwork, no need to visit a branch, and the ability to open sub-accounts and issue debit cards with a click: Zeller is the smarter non-bank alternative to your traditional business bank. How do you open a business bank account? With the major banks, opening a business bank account will depend largely on what kind of business you are running and whether or not you are already a business customer. Depending on what camp you sit in will determine whether you can open an account online or whether you’ll need to go into a branch. As Zeller is an entirely online financial services provider, all customers — no matter the business structure — can open an account online in a matter of minutes. Whichever institution you choose, opening an account will require you to provide: A business name A primary business address An Australian Business Number (if applicable) An industry type Certified identification documents (such as passport or driver’s licence) for all owners or partners Additional documents may be required if your business operates under a particular structure such as a trust, cooperative or association To see specific requirements of each bank, check the comparison table and scroll down to “How to Apply” or visit the bank’s website. Or, if you're looking for a smarter, faster non-bank alternative, follow the prompts to sign up to Zeller for free here . Five things to consider when finding the best business bank account for your small business. 1. Fees, Transaction Limits & Staff-Assisted Transactions Depending on the option you choose, you could be spending as little as $0 or as much as $264 a year on business bank account fees. Beyond the account fee, be sure you understand all the fees associated with using your account – some of which can be hidden in the fine print. Certain accounts from ANZ and Bendigo Bank, for example, only offer a limited number of free electronic transactions per month, while staff-assisted transactions are capped at 20 to 30 per month for nearly all the major banks’ no fee business bank accounts. If you’re not careful, seemingly inexpensive plans can actually end up costing you more to use. To help you decide what you need, let’s break down some terminology: Electronic transactions are any type of transaction that is conducted with your computer, smartphone or other digital device. This could include transferring money between accounts, paying bills, shopping online, or using a debit card or mobile payment app, such as Apple Pay. Staff-assisted transactions are those that require you to go into a bank branch and speak with a teller; to deposit cash or collect change, for example. If you’re going to be making several electronic transactions each day, it’s worth doing the maths: two transactions per day at $0.40 per transaction (as is the case with Bendigo Bank’s no fee business bank account) will end up costing you $24 a month. Staff-assisted transactions can be as much as $3 each, when not included in your plan. If you need to collect change once a week, at a rate of $3 per transaction you’ll be paying $12 a month — more than the monthly fee for most accounts that offer this service for free. 2. Debit Cards All the best business accounts will include a debit card as part of their offer. This is the bare minimum requirement when opening a business account, and all of the options we compare in the table above do indeed provide one. Each will have slightly different features associated with it. While all banks will have maximum daily transaction and cash withdrawal limits for security purposes, most will allow you to increase these limits if you need to. If you’re likely to be withdrawing cash frequently from ATMs or making significant purchases, it’s important to note how much you can increase these limits by. Similarly, if you’re planning on using your business account to manage staff expenses, check the requirements for ordering additional debit cards. The big four banks — Westpac, Commbank, NAB and ANZ — all require that each additional cardholder is an account signatory. This is a potential deal breaker for any small business owner who just wants to give their staff members a card to purchase everyday items, without also giving them the authority to access and manage the whole bank account. Flexibility provided by Zeller Debit Card This is where Zeller has a much more flexible alternative to the traditional business banks. Within your Zeller Account, you can create as many Debit Cards as you like — one for each staff member, for example, which can each draw from a different Zeller Transaction Account. With Zeller’s no fee small business account, Debit Cards are free to create and can be virtual and instant, with the option of plastic cards. 3. Mobile Business Banking Apps How you use and interact with your business bank account will either be a seamless experience or an endless source of frustration. Rather than finding out the hard way, do a little research upfront to make sure the banking app and online platform are going to work for you. A great place to start is by looking at the reviews on the Apple App Store, at the time of writing*, the Zeller App on the App Store was rated the highest with 4.8 stars, while the CommBank Small Business app was the lowest with 2.1 stars. Most banks use the same app for both business and personal banking. Zeller, on the other hand, is a financial services provider solely for business, therefore the app is entirely tailored to what small business owners need. From the Zeller App you can create and manage accounts, issue new cards, build and review payment reports and transaction insights, and manage expenses — all with real-time business data. *Customer ratings on the Apple App Store as of 17 May 2023. 4. Reporting & Analytics Tools One of the most important ways of measuring the financial health of your business is to track your cash flow. When considering what business bank account to choose for your operation, you need to look into what tools and reporting the bank will offer you, because ultimately, these will inform important business decisions, such as: Committing to capital purchases such as a new coffee machine or vehicle When and at what level to roster staff on, and when to take a break If recent marketing has brought in more sales For owner-operators who are short on time, being able to gain these financial insights at a glance is essential. In this domain, the Zeller Business Transaction Account is second to none. From the dashboard on desktop or from the Zeller App , business owners can: Visualise their cash flow with real-time reports in a user-friendly interface Break down incoming and outgoing transfers Categorise and filter transactions by type, contact, date, amount and spend category Assign contacts and attach receipts or notes to transactions to know exactly where the money’s going and why. Your browser does not support the video tag. 5. Customer Support & Service A final and very important consideration when choosing a business bank account is the customer experience. Whether this is over the phone, on a mobile app, or in person at a physical branch, it’s important to choose a provider that is suited to your needs. If you’re leaning towards a bank and need the option of speaking to someone face-to-face, then make sure to look up where your closest branches are before signing up. If you prefer to manage all your finances online, make sure you like the user experience provided on the website or mobile app of your chosen provider. For day-to-day support, have a look at how robust their customer service platforms are including contact channels, customer assistance directories, and support articles — some will be much more comprehensive and easier to navigate than others. Where Zeller offers a considerable advantage over traditional business banking counterparts is its phone, SMS or email customer support (available 9AM to 1AM AET, 7 days a week) as well as 24 / 7 debit cardholder support. So, what’s the best business bank account? There’s no one-size-fits-all solution: every business is structured differently and every owner will prioritise different features. However, if you’re embracing the inevitable shift towards cashless transactions, Zeller’s financial ecosystem is very hard to beat on cost and functionality. Zeller is a non-bank alternative that has been designed for businesses, therefore every feature is tailored to the needs of business owners. To come to a final decision, weigh up all the considerations outlined in this article, consult the comparison table above, do your own research, contact the banks if you require even more detail, and sign up for your free Zeller Account today to give it a try.

Zeller already helped you grow your business, now we’re helping you grow your account balance. Whether you’re an established business owner or are just about to launch your new venture, there’s never a bad time to reassess how your business finances are organised. By now you will most likely have  opened a business transaction account but have you considered a business savings account? With a better interest rate than the big-4 banks, a Zeller Savings Account can help you grow your business savings faster. You'll earn an amazing 2% p.a. interest rate with a Zeller Savings Account . Whether you’re looking to upgrade your coffee machine, give your shop a new fit out, or purchase a new delivery vehicle, a savings account will help get you there. Read on to discover five ways a business savings account can help bolster your business. 1. It can serve as an emergency fund If COVID-19 taught us anything, it’s that you never know what’s around the corner. If you want your business to be able to better survive unexpected events, it’s very important that your business has a cash reserve. By adding funds regularly to a savings account that earns interest, you are building a buffer that your business can use through unforeseen expenses, such as an important piece of equipment breaking down, a legal battle, a sudden increase in operational costs or an economic downturn, for example. 2. It can help manage poor cash flow According to The Invoice Market’s research , cash flow is the number one issue affecting small to medium businesses across Australia, with more than a third of them having to dip into their own personal savings to keep their business afloat. By moving funds into a savings account, you can contribute to building your businesses' resilience. Late payments, rising overheads, overstocked inventory or seasonal fluctuations are all common causes of poor cash flow; having some extra funds to see you through these leaner times will help give your business more stability. 3. It can help you avoid tax stress As a business owner, it is your responsibility to manage your tax obligations. If you do not have an organised approach to earmarking tax funds and declaring your turnover, you may end up with an unforecasted tax bill that could cripple your business. One great way of managing funds for not yet paid tax obligations is to put them into an interest-earning account before you need to pay the tax office. Not only will you have set aside cash to meet your tax obligations, but you will also have earned interest on it. 4. It can improve your position to borrow Even if you’re not currently planning on taking out a business loan, it might be something you choose to do in the future – so it’s important to consider your credit rating. When a lender is assessing whether or not to lend you money, they look at how much risk they are taking on. This ‘risk’ is what is known as your credit rating. In ascertaining your credit rating, they might assess your cash flow and your cash on hand. A savings account can therefore assist in providing this context to a lender. 5. It can help finance future investments Interest rates on savings accounts may not be very high, but they still offer a way to earn some passive income on idle funds. The extra cash that you earn from interest can be invested back into your business: whether you use it for purchasing new equipment, upgrading your technology, or helping to fund an advertising campaign, over time, these purchases can make a considerable difference to your business. While the day-to-day running of your business can be all consuming, making a contribution each week to a savings account can set you up for future expansion by earning you money in the background. How does a Zeller Savings Account compare to the big-4 banks? COMPARE BUSINESS SAVINGS ACCOUNTS *Interest rates current at 10 June 2025. Terms apply . Don’t let your business savings sit in a big-4 bank account. With Zeller’s competitive interest business savings account , not only will you earn a better return on your savings without a minimum balance requirement, but you will also benefit from a whole ecosystem of financial services and business products. From securely holding your money to accepting payments, managing expenses and tracking your cash flow, Zeller’s suite of financial tools lets you tailor your solution to your business needs. With everything consolidated into one reliable platform, you can accept, settle, spend, and track your funds faster, leaving you more time to run your business. Disclaimer: The information provided on this site is for general informational purposes only and should not be considered as advice that takes into account your business needs and objectives. If you are unsure, seek the advice of a qualified accountant or financial service advisor before deciding whether a savings account is right for your business.

Business spending and tracking should be simple, yet many traditional banks’ business debit cards lack important features while also having unnecessary fees and restrictions. In this article we compare the best business debit cards in Australia for 2025, including those issued by the big-4 banks, and the Zeller Debit Card – our smarter, modern alternative that’s designed to help you better manage your business spending. Compare Zeller Debit Card to the big-4 banks. Say goodbye to monthly debit card fees. Traditional banks may charge account fees of up to $10 per month, just for the benefit of managing your own money the way you want. With Zeller, there are no hidden fees attached to our transaction accounts or business debit cards – just seamless spending online and in-store with a fully featured, cost-free business debit card. Effortless money management via Zeller Dashboard and Zeller App. Unlike traditional banking apps which can be clunky and outdated, Zeller’s intuitive dashboard and app give you full control over your spending. View and manage cards, check balances, track purchases, lock cards and manage security, and set spending limits across multiple Zeller accounts in real-time with ease from either Zeller Dashboard or Zeller App . Powerful reporting and analytics. Unlike traditional banks that provide only basic transaction summaries, Zeller lets you delve deep into your business debit card spending for useful insights into your cash flow. Get an overview across all your cards and filter or export transactions by date, amount, category, vendor, transaction status, and more, giving you a clear financial picture to plan ahead for your business. Advanced security and fraud protection. With scams on the rise, you can put your mind at ease knowing that Zeller Debit Card transactions are processed with multiple layers of secure encryption and authorisation, including multi-factor authentication. Instantly lock or report lost or stolen cards via the Zeller Dashboard or Zeller App, ensuring your funds remain secure. Transaction tracking and reconciliation made easy. Business expenses vary, from buying the essentials like office supplies to recurring payments to suppliers and more. With Zeller, you can attach customer, supplier or vendor profiles to transactions, build a contact directory , attach receipts, and streamline your bookkeeping with direct integration to Xero Bank Feeds, eliminating the need to manually import transaction details. Instantly issue unlimited business debit cards. Many traditional banks limit the number of business debit cards you can have per account or have restrictive requirements when you’re ordering additional cards. With Zeller, you can issue unlimited physical and virtual business debit cards instantly from the Zeller Dashboard or Zeller App. This is perfect for businesses looking to streamline expense management, empower employees with controlled spending, and ensure fast access to funds without needing reimbursements or petty cash. Virtual business debit cards for modern businesses. Once you’ve ordered a new virtual card, you can add it to your Apple or Google Wallet and start spending online or in-store immediately. Using virtual cards adds another level of financial protection because the technology disguises sensitive card data and ensures that your actual card information cannot be used or stored by the payment processor. Managing a large team? Try Zeller Corporate Cards. For businesses with multiple employees, Zeller Corporate Cards provide a streamlined way to manage spending. Issue individual or project-based cards, set custom spending limits, and automate budgets. No manual staff reimbursements, just real-time cash flow tracking. Try it free for 60 days, then it’s just $9 per active card per month thereafter. No more tedious bank visits. Issuing Zeller Debit Cards and opening a Zeller Transaction Account is free, fast and can be completed online in minutes – no need to wait in line at a bank or fill out lengthy paperwork. Plus, Zeller’s 24/7 support team is always available if you ever need some extra help. Say goodbye to your outdated business bank debit card and hello to cost savings and powerful features the big-4 banks simply can’t match. Switch to Zeller Debit Card today. It’s completely free to open a new account and start using Zeller Debit Card. Say goodbye to your outdated business bank debit card and hello to cost savings and powerful features the big-4 banks simply can’t match.