With a Tyro Bank Account your daily takings will be in your account the same day *, so you can get paid 7 days a week. Even on weekends and public holidays.
Available to Tyro EFTPOS and eCommerce customers.
When you sign up for a Tyro Bank Account between 13 November 2024 and 28 February 2025
No account keeping or batch payments
Save time and payroll & BPAY payments on autopilot
Bank an impressive 5% interest p.a. on your balance for 6 months* when you sign up for a Tyro Bank Account between 13 November 2024 and 28 February 2025.
*T&Cs apply
After your intro period, you’ll receive a rate that grows with your business.
Interest Rates effective as of 07 November 2022
Period |
Base Interest Rate |
Bonus Interest Rate |
Base Interest Rate
|
|---|---|---|---|
≤30 days |
0.50% p.a. |
n/a |
0.50% p.a. |
>30 but ≤60 days |
0.50% p.a. |
0.65% p.a. |
1.15% p.a. |
>60 but ≤90 days |
0.50% p.a. |
0.80% p.a. |
1.30% p.a. |
>90 days |
0.50% p.a. |
0.95% p.a. |
1.45% p.a. |
On 07 November 2022 the Base Interest Rate on the Tyro Bank Account changed from 0.10% to 0.50% p.a. The Bonus Interest Rate tiers also changed in line with the table above.
Rates effective 07 November 2022 but subject to change. Interest rates are variable and interest is calculated daily and paid monthly on the third business day. Bonus interest is paid on the portion of the balance that falls within each tier. Tyro EFTPOS and eCommerce Banking customers who do not opt to have funds remain in the Tyro Bank Account and have their daily takings auto-swept to their nominated linked bank account, do not earn any interest.
New customers can open a Tyro business bank account when you apply online.
Existing customers can open a Tyro business bank account in the Tyro Portal.
Same-day settlements into the Tyro Bank Account are paid 7 days a week at a time of your choosing *.
And you can choose to automatically transfer a percentage of your daily takings to your external linked bank account *, leaving the remainder in your Tyro Bank Account to earn interest.
Seamless reconciliation with integrated bank feeds to Xero. Schedule batch payments in Xero – including BPAY and bank transfers, and Xero Payroll.
The Tyro App and Portal lets you access 24/7 mobile banking so you can stay on top of your business from anywhere plus receive notifications, and set up bank transfers, BPAY® and direct debits. You can automatically transfer a percentage of your daily takings from your Tyro Bank Account to any other Australian Financial Institution.
Security guaranteed. Your deposits are protected under the Financial Claims Scheme up to $250,000 per account holder, so you’re covered no matter what!
For more information visit ASIC’s website
When you have Tyro Bank Account, you can get up to $350k in 60 seconds, to help you stay on top of cash flow, grow your team, or order more stock. ^
Introducing the Tyro App
Just-in-time reminders will let you know if funds are low, so you can reschedule bill payments.
Keep track of monthly interest on your EFTPOS transactions.
Tyro was the first in Australia to allow payments to be made from its business bank account using Apple’s smartphone assistant, Siri §.
Automatically receive a notification if a new payee is included in a batch.
Set and forget your regular payments.
Hourly transactions to pick up on sales times and trends.
Fee-free. Interest-bearing
Settlements into the Tyro Bank Account are paid 7 days a week at a time of your choosing when you meet our eligibility criteria *, so you can earn interest and access your cash straight away.
For seamless cashflow management, link the Tyro Bank Account with any other Australian Financial Institution.
Security guaranteed. Your deposits are protected under the Financial Claims Scheme up to $250,000 per account holder.
For more information:
Streamline payments with one single settlement and accept payments fast and securely online and/or in-store.
Keep cash flow moving. Borrow unsecured amounts up to $350,000 ¤ and make payments that work for your cash flow.
New customers can open a Tyro business bank account when you apply online, and existing customers can open a Tyro business bank account in the Tyro Portal. You can also contact our customer support team for assistance. The process is quick and straightforward and designed to get you started with minimal hassle.
To open an online business bank account with Tyro, you’ll need to provide proof of business registration, identification, and address verification. These documents help us ensure the security and compliance of your account.
You can link your external bank account to your Tyro business account by accessing the online banking portal and following the instructions for account linking. This allows for easy transfers and management of your business bank accounts and funds.
Tyro’s online business banking is highly secure, utilising advanced encryption and security measures to protect your financial data. Our systems are designed to provide a safe and reliable banking experience for your business.
Tyro is an excellent choice for small business banking due to its fee-free business accounts and competitive interest rates that help maximise your savings. Additionally, Tyro offers seamless integration with its EFTPOS and eCommerce solutions, providing a comprehensive banking experience tailored to the needs of small businesses.
With a Tyro business bank account, you can earn interest on your funds based on the amount of time they remain in your account. Interest rates are calculated daily and paid monthly, with higher rates available for longer-term balances *.
When comparing business bank accounts, it’s important to evaluate several key factors. Look for a business savings account that offers competitive interest rates while supporting your business’s cash flow needs. Consider the cost of electronic transactions and whether the bank offers convenient features like the ability to bank online. Additionally, review monthly account keeping fees and other charges to ensure they align with your business’s budget. Choosing the right account can help streamline your financial operations and maximise savings. Discover how Tyro can help you compare business bank accounts efficiently.
Learn more. Do more for your business
24/7 mobile banking so you can stay on top of your business from anywhere. Download the app:
The right EFTPOS option can make a real difference to your business.
Tyro Bank Account and Xero working together.
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