Business TeleNet Saver

A business savings account that lets you earn interest without having to lock your money away.

Benefits

Earn variable interest

And there's no fixed term. In fact, you can easily access your business savings online at any time.

Save in more ways than one

No transaction or monthly maintenance fees (although fees may apply to your linked account).

Flexibility

No minimum balance or ongoing deposit needed. Plus, there's no daily transaction limit. 1 You'll need a minimum opening deposit of $1. Close

Supporting your business

Available to businesses including trusts, non-profit organisations and superannuation funds.

How it works

This is an online savings account, so you'll need a linked bank account to withdraw and deposit cash. 2 Your linked account can be with Bankwest or any other Australian financial institution. Close

Access your account online wherever and whenever you need through 24/7 online banking.

The option to track your finances through data feeds to accounting software packages like Xero™ and MYOB®.

Rates

Name Rate
Variable interest rate 1.05% p.a.
More

Interest is calculated daily and paid on the first business day of the following month. Rates are subject to change.

Apply now

Check your eligibility

  • Your business type is a sole trader, partnership, company, trust, super fund (including self managed super fund), society, strata or cooperative 3 For all other organisations, including government, joint venture and foreign companies, please call us on 13 7000 for information on how to apply.
    Close
  • Your linked account can be with Bankwest or any other financial institution in Australia. It must be held in exactly the same name as your Business TeleNet Saver, allow direct debits to and from the account, and cannot be a credit card account
  • The business was established and has tax residency in Australia. 4 If your business was established or has tax residency outside of Australia, call us on 13 7000 to talk about opening your account.
    Close

1

Things you need for your application

  • If anyone connected to your application is new to Bankwest, including account signatories, key decision makers/beneficial owners (through ownership or control), trustees, guarantors and office holders, they'll need photo ID like an Australian driver's licence or passport. Or, see a handy list of other ID we’ll accept
  • Australian Business Number (ABN). This isn't compulsory, but withholding tax may be applied if it's not provided.
  • The BSB and account number of the linked account
  • Tax File Number (optional).

2

Some business types may need to provide a bit more...

All documents must be originals or certified copies.

Formal partnership

  • Documentation that verifies the partnership information, such as the partnership agreement


Company

  • Australian Company Number (ACN)


Trust/super fund
(including self managed super fund)

  • Deed front page, schedule and execution/signing page, which shows the name of the trust, trustees, beneficiaries, settlor and settled sum (if applicable)
  • If the trustee is a company, details of that company


Society/strata/cooperative

  • Annual General Meeting minutes showing the election and full names of your Office Holders (President, Chairman, Vice President, Treasurer, Secretary or equivalent)
  • Strata plan or strata title for strata or cooperative
  • Certificate of Incorporation

Already started? Resume your application.

Need help choosing a business account?

Speak with one of our Business Banking Specialists today.

Things you should know

1. You'll need a minimum opening deposit of $1.

2. Your linked account can be with Bankwest or any other Australian financial institution.

3. For all other organisations, including government, joint venture and foreign companies, please call us on 13 7000 for information on how to apply.

4. If your business was established or has tax residency outside of Australia, call us on 13 7000 to talk about opening your account.


Xero is a trademark of Xero Limited.

MYOB is an internationally registered trademark of MYOB Technology Pty Ltd.