Our verdict

Access to ANZ Internet Banking for Business is included with this premium business transaction account.

This business transaction account has a $10 monthly account fee which may seem a bit steep at first, but the account comes with a number of included benefits. You can make unlimited ANZ ATM and electronic transactions at no extra cost. Other transactions may come with fees.

Pros

Optional overdraft facility
Access to ANZ Internet Banking for Business platform

Cons

$10 monthly fee applies
Overseas transaction and ATM fees apply

With the ANZ Business Extra Account, for the one monthly account keeping fee, you get access to ANZ Internet Banking for Business. Plus, most transaction types are free, without monthly limits imposed. You can elect to receive a free linked ANZ Business Visa Debit card with this account, and you can also apply for an optional overdraft facility.

Details

Key details

Product Name	ANZ Business Extra
Monthly account fee	$10
Card access	Visa
Own network ATM fee	$0
International ATM Fee	International ATM fee $5
International transaction fee	3%
Monthly deposit required to waive account fee	N/A
Contactless Payments	Apple Pay, Google Pay, Samsung Pay, Garmin Pay

Eligibility

Minimum Age	18
Joint account availability	No
Minimum opening deposit	N/A

Key features

$10 monthly account fee.

The ANZ Business Extra Account has a monthly account keeping fee of $10. However, there's a number of included extras in this account that aren't included with alternative ANZ business accounts.

Unlimited ANZ ATM and electronic transactions

You can make unlimited transactions using ANZ internet/phone banking, ANZ ATMs or an ANZ Business Visa Debit card. There may be fees for other transactions.

20 free ANZ transactions per month

You can make up to 20 free ANZ transactions per month, which includes cheque deposits/withdrawals and staff assisted transactions. Fees may apply if you exceed the 20 transaction limit.

Free ANZ Business Visa Debit Card

You can use this card to access funds in your account at any time using ATMs, EFTPOS terminals, online banking and phone banking. The Visa payWave feature lets you use your card to make contactless payments for purchases less than $100. This card comes in three colours and you can get the bank to embed you business name on the card.

ANZ safety features

ANZ Falcon anti-fraud protection and Visa's Zero Liability policy are in place to offer that extra peace of mind.

Optional ANZ Business Overdraft feature

If you get the optional business overdraft facility linked to your account you can be sure that you have access to extra money as and when you need it. You get to choose from secured and unsecured options and there is no minimum or maximum term. Flexible repayment options can give you greater control over your cash flow.

Cheque book available

This account comes with an optional cheque book facility, and you can write unlimited number of cheques for free.

Access ANZ Internet Banking for Business at no extra cost

The ANZ Internet Banking for Business platform gives you a secure way to manage your business cash flow online. Some benefits include co-signatory authorisation as well as higher payment limits. You can also use this platform to make international transfers, to set up direct debits, for efficient payroll management and more. This platform normally costs $15 per month, but there's no extra charge for this platform when you open a ANZ Business Extra account.

Phone banking available

You can use phone banking to check your account's balance and its transaction summary. Phone banking lets you initiate fund transfers, and you can use it to order cheque books. Phone banking also lets you connect with an ANZ representative.

Compare other ANZ products

How to apply

You can apply for this account online. Applying requires that you meet the following eligibility criteria and have the below documentation handy.

Eligibility

Business account. You are applying as a sole trader, company, partnership, trust, society, co-operative or association.
Authority. You have authority to open an account on behalf of the business you represent.

Over 18. All signatories are over the age of 18 years.

Documentation needed

Business details. The trading name of your business, its mailing address and its structure (sole trader, company, trust and so on).
Business number. Such as Australian Company Number (ACN), Australian Business Number (ABN) or Association Number.
Personal details of signatories. Details of all signatories to include complete names, job titles, dates of birth and contact details.

What happens after I submit my application?

Once you submit your online application you should receive a confirmation email from ANZ in minutes. You can expect to hear from an ANZ small business specialist within 24 hours on business days. This is essentially to confirm your details, clarify your doubts, and then, open the account. Once the account is open you can make deposits straightaway. You receive another email notifying you of the account opening and a nominated branch, along with instructions surrounding what you have to do to activate the account completely.

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Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full profile

ANZ Business Extra

Pros

Cons

Key features

$10 monthly account fee.

Unlimited ANZ ATM and electronic transactions

20 free ANZ transactions per month

Free ANZ Business Visa Debit Card

ANZ safety features

Optional ANZ Business Overdraft feature

Cheque book available

Access ANZ Internet Banking for Business at no extra cost

Phone banking available

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Compare other business transaction accounts

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