Why a Separate Business Account Matters

Mixing your personal and business money is one of the most common mistakes tradies make. A dedicated business account makes tax time dramatically easier, looks more professional to clients, and helps you track exactly how your business is performing.

What to Look for in a Business Account

  • Monthly fees – Some accounts are free, others charge $10–$30/month
  • Transaction fees – Important if you process lots of payments
  • Cash deposit facilities – Useful if clients still pay cash
  • Integration with accounting software – Saves hours of manual data entry
  • Card payments – Can you accept card on-site easily?
  • Business overdraft – Helpful for cash flow gaps

Top Picks for Tradies

1. ANZ Business Extra Account

A solid all-rounder with no monthly fee for the first year and good integration with Xero and MYOB. ANZ has extensive branch and ATM networks — useful if you handle cash.

2. CommBank Business Transaction Account

Commonwealth Bank's business account offers strong mobile banking, good customer support and integrates well with accounting software. Fees apply after a free period.

3. Tyro (for card payments)

Not a full bank account, but Tyro's EFTPOS solution is popular with tradies who want to take card payments on the job. Fast settlement and integrates with major accounting platforms.

4. Revolut Business

A modern, app-first business account with competitive fees. Good for tradies who want real-time spending notifications and easy multi-currency if working internationally.

5. Bendigo Bank Business Accounts

Community-focused bank with competitive fees and good customer service. Worth considering if you prefer dealing with a regional bank that invests back into local communities.

Our Recommendation

For most sole trader tradies starting out: open a simple, low-fee account and focus on keeping personal and business money separate. As you grow and hire staff, speak to an accountant about more sophisticated banking structures.