What are the steps?

We've made it very quick and easy to apply for your Business TD Direct account. Just follow these steps:

  1. Welcome
    Read and accept our Product Disclosure Statement.
  2. Term Deposit Quote
    Provide details about the Term Deposit - we will provide you with a quoted rate, and decide what will happen to your investment at the end of the term deposit.
  3. Business Details
    Provide information about your business.
  4. Linked Account
    Provide details of the account to which your Business TD Direct will be linked.
  5. Authorised Signatories
    Displays the confirmed Authorised Signatories for your Business TD Direct.
  6. Confirmation
    Confirm that we have everything we need. Then print, sign and post, fax or email your application to us. Alternatively you can ask us to send you an electronic copy for you to sign and return.

If you choose to email a copy of any documentation to us, you do so at your own risk. As emails are an unsecured means of communication, there is a risk your email could be viewed by others if it is intercepted or sent to an incorrect address, and Bankwest assumes no responsibility for this. If you have any concerns about emailing information to us please provide it by other means.

What happens next?

We will ask you to provide details to enable us to quote an interest rate for your specified term deposit amount and term.

Business TD Direct FAQs

  • How long will it take?

    Completing the online application can take as little as 15 minutes.

    After sending us your completed application form and providing the required supporting documentation we will open your account.

    Please note our online application process includes a 45 minute time out session for additional security. If you leave your application open for 45 minutes without entering any details it will time out and you will need to start again.

  • What Information will I need to know to apply?

    You will need the following:

    • Your business Australian Business Number (ABN) if one is held or Australian Company Number (ACN) if applicable.
    • Your business Tax File Number (TFN). If you cannot provide this (and you are not exempt) we will have to deduct withholding tax from your new account.
    • The BSB, name and number of the bank account to which you want to link your Business TD Direct. Your linked account must be held at an Australian Bank, and be in the same name as the account you are about to open.
    • The first page of a recent bank statement from that account - issued less than 6 months ago.
    • If your application includes a trustee or superannuation fund entity we will require you to provide us with an original certified copy of your trust/superannuation deeds.
    • If your application is for an Association/Club or Society you will be required to provide us with a certified copy or certified extract of the constitution or the rules of the association or the minutes of the meeting. For incorporated society you will also need to provide us with Certificate of Incorporation.
    • An email address so we can confirm that your application has been received.
    • A printer so you can print your completed application form to sign and send it to us.
  • Can I apply over the Phone?

    You certainly can! Please call us on 13 7000. One of our consultants will be ready to assist you.

  • Why do I need to send you a recent statement of my Linked Account?

    To comply with Australian law for this type of online savings account we must ensure the name on both accounts is the same.

  • How do I manage the money in my Business TD Direct account?

    You can either:

    • Transfer (withdraw) funds from your Linked Account by Direct debit or other electronic funds transfer methods, in accordance with your instructions or
    • Transfer (deposit) funds into your Linked Account via electronic funds transfer from your Term Deposit, in accordance with your instructions.

    You can provide instructions on what should happen to your Term Deposit at its next maturity date.

  • Can I withdraw money from my Business TD Direct account other than at maturity?

    You can withdraw all or some of the principal amount in your Term Deposit at any time. Penalties will apply.

  • What if I need to change the Linked Account?

    You can change the Linked Account at any time, provided that the new account is in the same name as your Business TD Direct account. Simply call us on 13 7000 for assistance.

  • What if I close the Linked Account?

    You will not be able to operate on your Business TD Direct until you nominate a new Linked Account. This new Linked Account will then be recorded to enable you to transfer funds to/from the Business TD Direct. Please call us on 13 7000 for assistance.

  • Can I deposit cheques or cash into my Business TD Direct account?

    No. You may only transact by electronic funds to and from your Linked Account.

  • Why can't I view the Product Disclosure Statement?

    This could be because you do not have a piece of software called Adobe Acrobat Reader installed on your computer. If this is the case, please refer to the  Adobe website and download the latest version. It's free.

    If you do have Adobe Reader and are still having a problem viewing the document, it may be because you have an older version of the software. Again, refer to the Adobe website and download the latest version of Adobe Reader.

© 2018 Copyright Bankwest, a division of Commonwealth Bank of Australia (Bankwest) ABN 48 123 123 124 AFSL / Australian credit licence 234945. All rights reserved. To use this Website, you are required to read the Financial Services Guide (which you agree to be provided by accessing the link). Bankwest is a division of Commonwealth Bank of Australia, which is the product issuer unless otherwise stated. Rates stated are subject to change without notice. Any advice given does not take into account your objectives, financial situation or needs so please consider whether it is appropriate for you. For deposit and payment products, please ensure you read and consider the Product Disclosure Statement (which you agree to be provided through this link) before making any decision about the product(s). For lending products, lending criteria and fees and charges apply. Terms and conditions apply and are available on request.