What is a merchant account?

A merchant account is a type of account that allows merchants to accept and process electronic payment card transactions. Merchant accounts provide a dedicated place to accept deposits and make payments from — enabling you to keep your business and personal finances separate. Merchant accounts require a business to partner with a merchant services provider to facilitate all communications in a transaction. The beauty of choosing a modern alternative to the big 4 banks is that you can unite your entire payments system under one roof. When you use the all-in-one Zeller system, transactions are settled into your online merchant account the same day — allowing you to speed up cash flow, and invest in growing your business sooner.

What are the benefits of a merchant account?

A merchant account gives you a clear view of your business’ finances, which makes tracking expenditure, profit, tax, and the general financial health of your business simple and straightforward. When you use an online merchant account, all of the relevant transactions are stored in one place. A free merchant account, such as Zeller Transaction Account, also helps you stay in line with relevant government rules and regulations. Businesses operating as a company, partnership or trust must have a business account for tax compliance. And, while sole traders don’t face the same requirement, a free merchant account helps keep personal and professional funds separate while giving you better oversight of how your business is tracking.

How do merchant accounts work?

Once your merchant account is open and your Zeller EFTPOS Terminal is set up, you can start transacting. Funds are deposited in your free merchant account nightly, 365 days a year. An online merchant account will enable you to see all of your incomings and outgoings in real-time, in one convenient location via a merchant account web app — so you can view recent activity and identify any potential areas for concern.

How do I get a merchant account?

Generally, any business owner can open a merchant account. However, a bank will need to consider a number of factors including your credit history, operating history, recent chargebacks and credit risk. This can make opening a merchant account difficult for new business owners. Alternatively, sign up for a free Zeller Transaction Account online. Most businesses are up and running in 5 minutes, and our local team is on hand if you need any help getting your account up and running as soon as possible. Why do we make opening a merchant account infinitely easier than a bank does? Because we understand the importance of removing hurdles to help you get started; Zeller was born to help small Australian businesses grow.

How much does a merchant account cost?

Different banks and alternative providers offer additional features and services, on top of their base offering, which usually come with extra costs. Merchant account fees including (but not limited to) monthly management fees, minimum deposit fees and statement fees are important to keep in mind. The more you’re paying in merchant account fees and charges, the less money for your business. When you use Zeller, there are no hidden merchant account fees to worry about. Zeller Transaction Account is included free with sign-up, is completely fee-free, and can be set up online in minutes.

Zeller Debit Card

A smarter business debit card.

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No more business banks

Replace your outdated business bank with a free Zeller Debit Card and Transaction Account.

Ready to go

Spending power

Attach receipts and notes to transactions, and manage cards with a click from Zeller Dashboard.

Zero costs

Unlimited electronic transactions, $0 monthly accounts fees, and no lock-in contracts.

Spend your money as
soon as you get it.

Pay for everyday business expenses such as supplier, marketing, employee or operational costs with a free Zeller Debit Card.

Easy money access

Access funds in your Zeller Transaction Account instantly for in-person or online business spending.
No more petty cash

Issue Debit Cards to employees to keep your business and personal expenses separate.
Fast to setup

Create your free Zeller Account, order a physical business Debit Card, and we'll ship it fast and free anywhere in Australia.

Open a free account

Issue physical and virtual business Debit Cards.

Create and manage Debit Cards from Zeller Dashboard.

Attach notes, receipts and invoices to transactions.

Limit and manage Debit Card spending by team or employee.

Spend categorisation for simplified bookkeeping.

Lock, close, and report stolen Debit Cards with a click.

Create physical and virtual Debit Cards at the click of a button from Zeller Dashboard or the Zeller App.

Spend with Zeller Debit Card anywhere Mastercard is accepted, in-store and online.

Issue cards to employees and managers, assign budgets, and reconcile expenses with receipt uploads.

Understand business expense trends by appending contacts to transactions, attaching receipts, or adding notes.

Secure your money with lock, close and report card functions from Zeller Dashboard or App.

Card management

Create physical and virtual Debit Cards at the click of a button from Zeller Dashboard or the Zeller App.

Greater acceptance

Spend with Zeller Debit Card anywhere Mastercard is accepted, in-store and online.

Manage expenses

Issue cards to employees and managers, assign budgets, and reconcile expenses with receipt uploads.

Track spending

Understand business expense trends by appending contacts to transactions, attaching receipts, or adding notes.

Enhanced security

Secure your money with lock, close and report card functions from Zeller Dashboard or App.

Spend from your Zeller Transaction Account.

Watch sales and settlements flow directly into your Zeller Transaction Account, then spend with Zeller Debit Card.

See every payment, transaction, account, invoice and settlement in one place.
Link Zeller Debit Cards to a nominated Accounts to manage team expenses.
Unlimited, and free real-time transfers to and from Zeller Transaction Account.

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Link transactions to business contacts.

Manage every supplier and vendor you spend at with Zeller Contact Directory.

See every payment made on Zeller Debit Card with rich contact information.
Append notes to regular clients and customers to improve business relationships.
Monitor business spending patterns by contact over time to help negotiate better terms.

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Financial tools for every business.

Use Zeller as your complete business financial ecosystem, from payments to accounts and cards. Or just select the parts you need — it's that easy.

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Faster settlements.

Settle funds accepted with Zeller Terminal to your Zeller Transaction Account for faster access.

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Cash flow at your fingertips.

Spend funds stored in your Zeller Transaction Account using your Zeller Debit Card.

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A place for your business finances.

With one Account for all of your business Cards, Transaction Accounts, Payments and Reporting, tax time will never be simpler.

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Zeller is better than your business bank. Here’s why.

Fast online account creation	Yes	No
No minimum balance	Yes	No
No monthly account or card fees	Yes	No
No overdraft fees	Yes	No
Unlimited transactions	Yes	Yes
Integrates with Xero	Yes	Yes
Card management dashboard	Yes	No
Built-in expense tracking	Yes	No
No lock-in contracts	Yes	No
Connects with other business tools you use	Yes	No
7-day support via phone, email and SMS	Yes	No

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Save time and boost business cash flow.

Supercharge your business spending power with faster access to your takings and settlements.

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Add funds to your Zeller Transaction Account.

Accept payments with Zeller Terminal.
Suppliers settle bills to your Zeller Transaction Account.
Transfer funds to your Zeller Transaction Account..

Use Zeller Debit Card for business expenses.

Pay suppliers, bills, and business subscriptions.
Issue Zeller Debit Card to employees for expenses.
Charge recurring online expenses or subscriptions.

Business Debit Cards, without the fees.

You shouldn't have to pay to spend your own money. Zeller Debit Cards and Accounts are free to create, with no hidden fees or lock-in contracts.

Zeller Debit Card

Free

Free unlimited physical business Debit Cards.

Virtual Cards

Free

Free, unlimited virtual business Debit Cards.

Annual Card Fees

No recurring annual fees or hidden charges.

Transaction Fees

Just a low FX margin on international purchases.

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Ordering a Zeller Debit Card is free and fast.

Sign up free online.

Creating a Zeller Account takes minutes for most businesses, and it's free.

Zeller Debit Card is shipped.

Create a virtual Debit Card today. Your physical Card is on it's way in the mail.

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Frequently Asked Questions

What is a business transaction account?

What are the benefits of a business transaction account?

How do transaction accounts work?

How do I get a transaction account?

How much does a business transaction account cost?

Why is Zeller Transaction Account the best business transaction account?

Have a question which isn’t answered here? Contact us!

What are the benefits of a business transaction account?

Choosing the best business transaction account for your needs is an important step in business growth. The business transaction account you select can have a big impact on your finances - both in terms of how you manage business funds, and the fees you might need to pay. The right business account will align with your business’ needs and keep costs low, while providing quick, easy access to your takings as quickly as possible.

A Transaction Account Built for Business

A business transaction account is a transaction account traditionally offered by incumbent banks. These bank accounts don’t always align with the needs of modern business owners. High fees, excessive paperwork, and long application processes can sap your energy, turning what should be a basic task into a drawn-out process. These are just a handful of reasons why Australian Businesses aren’t satisfied with the Big 4 banks.

In recent years, digital banks and neobanks have introduced similar offerings — reducing red tape and simplifying the sign-up process for time-poor merchants.

Features of the Best Business Transaction Accounts

Business transaction accounts offer a single place to accept settlements and make payments, while keeping your business and personal finances separate. Different banks and alternative providers offer additional features and services, on top of the base offering, which usually come with extra costs.

With Zeller’s free Business Transaction Account, you'll find it easier to:

track your business’s income
monitor business expenses
separate business finances from your personal finances
complete tax and other reporting paperwork

Discover Our No Fee Transaction Account

Zeller is a modern financial solution with the needs of business owners just like you in mind.

When you sign up for Zeller, you receive a free business transaction account as well as a Zeller Mastercard — no trip to the bank or waiting in a phone queue necessary.

When you use the entire Zeller solution, you have all the tools to help grow your business.

Faster access to your funds

Funds accepted via your Zeller eftpos machine are settled into your Zeller Transaction Account nightly, meaning you put your money to work faster. Payments processed before 9 PM will be available to spend by 1 AM the next day. It’s the fastest way to access your takings.

You also have the flexibility to sweep funds to any existing bank account.

Less fees, more value

There are a few ways banks typically make money from business transaction accounts, including monthly account-keeping fees. Zeller Transaction Account, on the other hand, comes with no monthly fees or hidden charges. There are also no lock-in contracts. The best no fee transaction account in Australia.

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.

Complete financial oversight

Transaction accounts make it easy to accept settlements and send payments. By using Zeller Transaction Account as your business account, you’ll be able to get the whole picture of your cash flow. Zeller Dashboard gives you real-time visibility over your daily takings, enabling you to identify trends and make smarter business decisions — from staffing, to marketing, and beyond.

You can even set up separate Zeller Transaction Accounts to easily track and manage business spending.

Better business relationships

Zeller Contact Directory is a free customer management tool built right into your Zeller Transaction Account. Use it to start building real relationships with your customers and suppliers.

Track every payment, transaction or account transfer with a specific contact, in one location. Plus, rich details and information about the business you’ve spent with using your Mastercard is available from right within the dashboard.

Open a New Zeller Business Transaction Account in 5 Minutes

Zeller is the leading EFTPOS payment provider, built to help Australian business grow. With a fee-free Zeller Transansaction Account, your business has all the tools at its disposal to get a better handle of cash flow. Spend less on fees, and more on growing your business.

Zeller Debit Card

A smarter business debit card.

Limited-time offer

Switch your monthly business subscriptions to Zeller Debit Card to earn up to $100 cash back. Learn more >

No more business banks

Ready to go

Spending power

Zero costs

Spend your money as soon as you get it.

Better business card spending and expense management.

Debit Cards that scale with your business.

Create physical and virtual Debit Cards at the click of a button from Zeller Dashboard or the Zeller App.

Spend with Zeller Debit Card anywhere Mastercard is accepted, in-store and online.

Issue cards to employees and managers, assign budgets, and reconcile expenses with receipt uploads.

Understand business expense trends by appending contacts to transactions, attaching receipts, or adding notes.

Secure your money with lock, close and report card functions from Zeller Dashboard or App.

Create physical and virtual Debit Cards at the click of a button from Zeller Dashboard or the Zeller App.

Spend with Zeller Debit Card anywhere Mastercard is accepted, in-store and online.

Issue cards to employees and managers, assign budgets, and reconcile expenses with receipt uploads.

Understand business expense trends by appending contacts to transactions, attaching receipts, or adding notes.

Secure your money with lock, close and report card functions from Zeller Dashboard or App.

Spend from your Zeller Transaction Account.

Link transactions to business contacts.

Financial tools for every business.

Faster settlements.

Cash flow at your fingertips.

A place for your business finances.

Zeller is better than your business bank. Here’s why.

Save time and boost business cash flow.

Add funds to your Zeller Transaction Account.

Use Zeller Debit Card for business expenses.

Business Debit Cards, without the fees.

Zeller Debit Card

Virtual Cards

Annual Card Fees

Transaction Fees

Ordering a Zeller Debit Card is free and fast.

Sign up free online.

Zeller Debit Card is shipped.

Explore Zeller products.

Read our latest articles, resources and guides.

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Frequently Asked Questions

What is a business transaction account?

What are the benefits of a business transaction account?

How do transaction accounts work?

How do I get a transaction account?

How much does a business transaction account cost?

Why is Zeller Transaction Account the best business transaction account?

What are the benefits of a business transaction account?

A Transaction Account Built for Business

Features of the Best Business Transaction Accounts

Discover Our No Fee Transaction Account

Faster access to your funds

Less fees, more value

Complete financial oversight

Better business relationships

Open a New Zeller Business Transaction Account in 5 Minutes

Spend your money as
soon as you get it.