BSB 805 050

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BSB 805 050
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Open a Business Account

Need to open a business account? At People's Choice, we provide a range of accounts and services to get your business started.

To open a business account, you first need to become a member with us.

To get started with your business account, simply select your type of business from this page to learn how to take out a business membership and open an account.

Ineligible Business Memberships

We are unable to open a business membership where the entities are listed on the ASX or operating a Money Remittance or Bitcoin Exchange business, or where the business owner/s reside in a State not represented by People’s Choice and/or have not had an active personal membership with us for more than 12 months. 

Deciding on the correct business structure is important as it could effect your legal obligations. Once you have the correct business structure, the first step is to open a Business membership. To open a business membership with us, please select the business structure relevant to you.

Compare our business accounts below.

 

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Product Summary

Account Purpose

Interest

Number of Monthly Free Transactions

Free Transaction Items

Excess Items Charge

Unlimited Free Access

Additional Fees on:

Access to Account

Business Visa Debit Insurance Cover

Optional Cheque Facility

Optional Overdraft

Minimum Opening Deposit

Funds At Call/Term

Interest Frequency

 

Business Access Account

An account ideal for businesses that are processing large amounts of transactions

Account Purpose

A business account designed for high-transacting businesses and not-for-profit organisations offering a large number of free transactions each month.

Interest

Nil

Number of Monthly Free Transactions

40 free items

Free Transaction Items

Branch and Agency withdrawals, Cheque Deposits, Direct Debits and  EFTPOS transactions

Excess Items Charge

$1.50

Unlimited Free Access

BPAY payments, Cash Deposits (excluding coin), Internet and Phone Banking

Additional Fees on:

Coin Deposits, Cheque Presentations, non-rediATM withdrawals

Access to Account

Visa Debit or 
Business Visa Debit

Business Visa Debit Insurance Cover

Unauthorised Transaction Insurance

Optional Cheque Facility

 $0.95 per cheque presentation

Optional Overdraft

Minimum Opening Deposit

$0

Funds At Call/Term

At Call

Interest Frequency

N/A

Details

Remove

Business & Community Account

Ideal for community and not-for-profit clubs or organisations that process a low volume of transactions and want to earn a competitive interest rate on at call funds

Account Purpose

A business account designed for businesses and not-for-profit organisations that only perform a low amount of transactions each month. This account offers a small amount of free transactions per month and competitive interest rates on your funds.

Interest

Up to 0.1% p.a.

Number of Monthly Free Transactions

20 free items

Free Transaction Items

Branch and Agency withdrawals, Cheque Deposits, Direct Debits and EFTPOS transactions 

Excess Items Charge

$1.50

Unlimited Free Access

BPAY payments, Cash Deposits (excluding coin), Internet and Phone Banking

Additional Fees on:

Coin Deposits, Cheque Presentations, non-rediATM withdrawals

Access to Account

Visa Debit or
Business Visa Debit

Business Visa Debit Insurance Cover

Unauthorised Transaction Insurance

Optional Cheque Facility

 $0.95 per cheque presentation

Optional Overdraft

Minimum Opening Deposit

$0

Funds At Call/Term

At Call

Interest Frequency

N/A

Details

Remove

Business Online Account

A high interest business online savings account that comes with no monthly account keeping fees

Account Purpose

An online business savings account that allows you to access your funds via Internet and Smart Phone Banking. With competitive interest rates and no monthly account fees.

Interest

Up to 0.3% p.a.

Number of Monthly Free Transactions

N/A

Free Transaction Items

N/A

Excess Items Charge

N/A

Unlimited Free Access

BPAY payments, Internet and Phone Banking

Additional Fees on:

N/A

Access to Account

Online Access Only

Business Visa Debit Insurance Cover

N/A

Optional Cheque Facility

Optional Overdraft

Minimum Opening Deposit

$0

Funds At Call/Term

At Call

Interest Frequency

Monthly

Details

Remove

Business Term Investments

A safe and secure way to invest your money and earn a great interest rate on your business' savings

Account Purpose

A Business Term Investment is a safe and secure way to invest your money and earn a great interest rate on your savings. Designed for members wanting to make the most of their savings by locking their funds away for a fixed term.

Interest

Up to 0.55% p.a.

Number of Monthly Free Transactions

N/A

Free Transaction Items

N/A

Excess Items Charge

N/A

Unlimited Free Access

N/A

Additional Fees on:

N/A

Access to Account

N/A

Business Visa Debit Insurance Cover

N/A

Optional Cheque Facility

Optional Overdraft

Minimum Opening Deposit

$5,000

Funds At Call/Term

Terms 2 months to 5 years
Withdrawal at maturity

Interest Frequency

At Maturity or annually for Terms greater than 1 year

Details

Remove

Show more less features

To help run your business, we've made business services available to you

Looking for Business Insurance?

We can help you with that.
We’ve teamed up with CGU to provide flexible cover and value for money Business Insurance that’s got you covered.

Click here to find out more.

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