Tyro Bank Account
With interest and no fees, business banking never looked so good. Find out how a Tyro business bank account can work for you.
Available to Tyro EFTPOS and eCommerce customers.
Your ideal business companion
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.
Earn interest
Earn more interest on your funds the longer you leave them in the account, and still have access to your funds when you need it.
Interest Rates
Effective as of 07 November 2022
| Period | Base Interest Rate | Bonus Interest Rate | Base Interest Rate + Bonus 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.
Effortless. Efficient. Integrated banking
Seamless reconciliation with integrated bank feeds to Xero. Schedule batch payments in Xero – including BPAY and bank transfers, and Xero Payroll.
Access 24/7 mobile banking
The Tyro App lets you access 24/7 mobile banking so you can stay on top of your business from anywhere plus intelligent notifications, bank transfer, BPAY® and direct debits.
Download the app:
Gain on-the-go insights and manage your business wherever you are
Introducing the Tyro App
Never run low
Just-in-time reminders will let you know if funds are low, so you can reschedule bill payments.
Monitor interest earned
Keep track of monthly interest on your EFTPOS transactions.
Voice command payments
Tyro was the first in Australia to allow payments to be made from its business bank account using Apple’s smartphone assistant, Siri^.
Safe payments
Automatically receive a notification if a new payee is included in a batch.
Easy set-up for recurring payments
Set and forget your regular payments.
Track EFTPOS transactions
Hourly transactions to pick up on sales times and trends.
Flexible business banking
Fee-free. Interest-bearing
7-day settlements
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.
Linked banking
For seamless cashflow management, link the Tyro Bank Account with any other Australian Financial Institution.
Government guarantee
Security guaranteed. Your deposits are protected under the Financial Claims Scheme up to $250,000 per account holder.
For more information:
Make your business work better
Better banking for your business
Streamline payments with one single settlement and accept payments fast and securely online and/or in-store.
More tools to boost your business
Keep cash flow moving. Borrow unsecured amounts up to $350,000¤ and make payments that work for your cash flow.
Find out how Tyro can benefit your business
Learn more. Do more for your business
Tyro App
24/7 mobile banking so you can stay on top of your business from anywhere. Download the app:
Need to know more about EFTPOS?
The right EFTPOS option can make a real difference to your business.
Xero integration
Tyro Bank Account and Xero working together.
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