The Zeller Transaction Account has no monthly fees to pay or minimum balance requirements. You can link a virtual and physical debit card to the account to make payments with your business funds in store and online, track your business spending in real-time and integrate your account with Xero software for easy expense management.
Zeller Transaction Account
- Account keeping fee
- $0
- ATM withdrawal fee
- $0
Our verdict
This is a business account with linked physical and virtual debit cards, Xero integration and expense categorisation.
This account could suit you if you’re a small business or sole trader who does most of your banking online and wants to avoid banking fees and charges. Unlike some business bank accounts offered by the big banks, this account has no monthly account fee and no ongoing balance requirements to meet.
The Zeller Dashboard is a great online tool to help you manage your accounts, view your spending, assign receipts and send invoices and integrate with Xero for simplified accounting. Zeller also offers an EFTPOS terminal that could suit you if you like to keep all your business banking together in a single platform.
Just keep in mind that Zeller doesn’t offer any bank branches, so if you do a lot of your business banking in-branch, it might not be the best option for you. But Zeller does offer local support via phone, email and SMS, 7 days a week.
Pros
-
No monthly fees or minimum balance requirements
-
Complimentary Zeller Business debit card
-
Xero integration and invoice tools
-
Transfer funds in real-time
Cons
-
Overdraft facility currently unavailable
-
No bank branches
Details
Key details
| Product Name | Zeller Business Transaction Account |
| Monthly account fee | $0 |
| Card access | Mastercard |
| Own network ATM fee | $0 |
| International ATM Fee | International ATM fee $0 |
| Monthly deposit required to waive account fee | N/A |
Eligibility
| Minimum Age | 18 |
| Minimum opening deposit | N/A |
How to apply
The Zeller Transaction Account is available to business owners, sole traders, partnerships and trusts and is not available for individual personal use. Applying for this account online takes around 5 minutes.
Eligibility
- Minimum age. You must be at least 18 years old.
- Australian citizen or permanent resident. You must be an Australian citizen or a permanent resident.
- Business requirements. You must be the owner or director of the business. You will need to provide a valid ABN or ACN.
Documentation needed
- Business identification. You will need to have your valid ABN or ACN handy.
- Personal identification. New customers will need to provide identification documents when applying online such as your driver’s licence, Australian passport or Medicare card.
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Alison Finder
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