4.05.2021 Features, Tools and Integrations
Certain business structures, like partnerships, companies, and trusts, must have a business banking account for tax purposes. And, while sole traders don’t necessarily need to have a separate bank account for business banking, it can be highly beneficial.
No matter how you’ve set up your business, separating your business finances from your personal finances will make tax time easier, and give you better oversight of how your business is tracking. You can read more about the benefits of opening a business bank account on the blog.
When you sign up for Zeller, you have the option to use your free Zeller Transaction Account to make and receive business payments on a daily basis. This account will be set up during onboarding – there are no additional steps you’ll need to take; no visit to a bank branch, waiting in a phone queue, or need to send a fax.
Here’s what you’ll get when you use Zeller Terminal to accept card payments, and Zeller’s fee-free merchant account to manage your takings.
Piecing together a complete business financial solution often requires a bit of mixing and matching. However, building an end-to-end solution — from accepting payments, to processing and storing those payments, to spending business funds — using different products from multiple providers that request and send information between each other typically means less oversight and longer processing times.
When you accept payment via Zeller Terminal, you have the flexibility to sweep funds to any existing bank account. However, fast processing times are key to healthy cash flow. That’s why Zeller Transaction Account gives you faster access to your funds; any payments processed before 9 PM will be available to spend by 1 AM the next day.
There are a few ways banks typically make money from business transaction accounts, including monthly account-keeping fees. This is one of the reasons why Australian Businesses aren’t satisfied with the Big 4 banks. Zeller Transaction Account, on the other hand, comes with no monthly fees or hidden charges.
Banks also tend to place a cap on the number of transactions that can be processed every month, before additional processing fees are charged. Zeller Transaction Account does not have any such limit. It’s just one way we keep more money in your pocket.
Transaction accounts make it easy to accept deposits and send payments. When used in conjunction with Zeller Terminal, you’ll be able to get the whole picture in your Zeller account. Real-time visibility over your daily takings can help to identify trends and make decisions from staffing, to marketing, and beyond.
Sign up for Zeller for free today or contact our Sales team to see if Zeller is the right fit for your business.