The best business bank account in 2025

Thriday's business bank accounts are the ultimate banking solution for small businesses in 2025.

With seamless online setup, these accounts eliminate the need for paperwork, making it easy for entrepreneurs to manage their money efficiently.

Users benefit from zero monthly bank fees and competitive interest rates, which can help save resources and grow your business.

In addition to basic banking services, Thriday comes with advanced technology that integrates financial management tools into the platform.

• Receipt reconciliation: Scan, send and save receipts on the go with Thriday. Take a photo of your receipts, and the platform will automatically reconcile and store them so they’re never lost come tax season for those precious deductions.
• Smart GST recognition: Streamline GST calculations for BAS and tax submissions.
• Quick quotes: Use the app to send professional quotes via email or SMS from wherever you are. Easily add new and saved billable items with custom units of measure. With the Thriday app, quoting new and existing clients is as easy as it should be.
• Instant invoicing: Instant Invoicing to help you get paid fast! With mobile or web apps, you can create and send professional invoices in seconds. You can also easily offer discounts and follow up with payment reminders. Learn more about Instant Invoicing here.
• Automated easy payments: Simplify accounts payable, annotate payments with notes, tags, and attachments so you always know what is going where.
• Automated accounting powered by AI: Experience hassle-free setup, auto-categorised expenses, and monthly financial reporting.
• Claim deductions automatically: Thriday's asset and liability register means you can claim deductions on things like vehicles and laptops and ensure payments are allocated to the respective loans.
• Business health reporting: Thriday automatically generates all the financial reports you need to get a clear picture of your business’s financial health in real-time. Easy access to real-time cash flow and tax forecasts, chart of accounts, income statements, balance sheets and more to take your business to the next level.
• Tax Management: Leverage automated cash flow and tax forecasting, detailed reports, and real-time tax position visibility.
• Lightning tax lodgment: Thriday shows you when new lodgments are scheduled, available, due or overdue and automatically generates the report to be lodged within the platform. Easily lodge your BAS to the ATO in minutes within the app.
• Human support:
  • Call us
  • Email us
  • Live chat
  • Get n-demand accounting and tax advice

As long as income is coming into your Thriday business bank accounts and your using your Thriday Visa Debit card to pay for expenses and saving the receipts then 99% of your bookkeeping and accounting is done.

Thriday's unique approach to banking automates administrative tasks, freeing up valuable time for business owners to focus on growth.

Security and reliability are paramount in today's digital banking landscape, and Thriday understands this well.

Their platform ensures that sensitive information remains protected while offering innovative solutions to support business growth.

With features that cater specifically to the needs of small businesses, Thriday's bank accounts are designed to be a comprehensive financial partner.

Key takeaways

• Thriday offers fee-free accounts with easy setup.
• Integration features simplify financial management.
• Reliable security supports small business needs.

Understanding Thriday business bank accounts

Thriday Business Bank Accounts offer small business owners a streamlined way to manage their finances.

They focus on user-friendly features, potential cost savings, and suitability for a range of financial situations, making them an attractive option.

Features and benefits

Thriday Business Bank Accounts stand out with their $0 monthly fee, which helps save costs for business owners.

These accounts incorporate advanced tools to assist in managing financial operations.

Features like tax forecasting and receipt tracking are integrated to reduce time spent on bookkeeping.

Customers can also earn interest on their deposits, which is an added benefit for maintaining funds in these accounts.

The easy-to-use online platform ensures accessibility and transparency in managing day-to-day business finances.

This can empower users to make informed decisions about their financial strategies.

Account types and eligibility

Thriday offers various account types tailored to meet different business needs.

They accommodate both startups and established businesses with diverse financial backgrounds.

The eligibility criteria are straightforward, requiring basic business information and identification.

These accounts are issued by Regional Australia Bank, ensuring that deposits up to $250,000 are safeguarded by the Financial Claims Scheme.

This security measure is crucial for businesses looking for a reliable banking partner.

Thriday's approach aims to provide a financially appropriate solution for businesses across Australia, facilitating effective financial management and growth.

Banking Ttechnology and integration

Thriday's approach to banking involves the seamless merging of technology and practical financial management.

By focusing on innovative tools and integration with accounting software, Thriday offers users a streamlined, intuitive system.

Innovative banking tools

Thriday offers unique banking tools to simplify financial management.

A key feature is the Automated Payment Scheduling, which allows users to set up payments ahead of time.

This prevents missed deadlines and helps maintain smooth cash flow.

Additionally, Automatic Allocations are available for budget categories, ensuring funds are correctly earmarked.

Bank@Post integration is another useful feature, allowing deposits and withdrawals at Australia Post locations.

This accessibility improves convenience for those who may not have easy access to a bank branch.

Accounting software integration

Thriday integrates seamlessly with popular accounting software like Xero. Although Thriday is a complete replacement for Xero you can still connect the bank accounts to Xero if you want to.

This integration ensures that transaction data automatically flows from the bank account to the accounting platform.

Users save time on data entry and reduce the chance of errors.

The connection with Xero provides a real-time view of financial health.

Businesses can monitor their expenses, income, and tax obligations with ease.

This integration is particularly valuable for small businesses aiming to streamline their financial operations.

Intuitive system

The core of Thriday's system is its user-friendly design.

The Intuitive System offers a simple interface, making it accessible even for those new to digital banking.

Users find it easy to navigate through various services and functionalities.

Visual dashboards present financial data in clear, concise formats.

Users benefit from having an immediate grasp of spending patterns, account balances, and financial projections.

This setup fosters well-informed decision-making.

Transaction management and fees

Thriday bank accounts offer comprehensive tools for efficient handling of business transactions. Key features include automated expense solutions and a transparent fee structure that aids in financial planning.

Expense management

Thriday provides tools that simplify managing business expenses.

The platform allows users to track all spending directly from their transaction accounts.

Automated payment scheduling features let businesses set up recurring payments, ensuring bills are paid on time without the hassle of manual input.

A standout feature is transaction data categorisation, which automatically sorts expenses into categories.

This not only simplifies record-keeping but also aids in spotting trends in spending.

Users can link their accounts to a financial management platform, which enhances cash flow control by providing an integrated view of their financial health.

Understanding fees and charges

Thriday's fee structure aims to minimise costs for businesses.

The transaction accounts come with no monthly access fees, providing a cost-effective solution for handling business finances.

Businesses can make use of free services like unlimited withdrawals via EFTPOS, Visa Debit, and ATMs.

Additional transaction fees include a 3.5% international transaction fee for overseas purchases.

These fees are crucial for businesses to factor into their budgets.

The lack of basic banking fees aids businesses in allocating resources more effectively, avoiding unexpected charges that can disrupt cash flow.

The fee transparency supports businesses in making informed financial decisions.

Security and reliability

Thriday provides strong protection and dependability in banking. The platform uses advanced encryption and secure systems to safeguard users' financial data. This ensures peace of mind for customers as they manage their accounts and financial transactions.

Financial claims scheme

The Financial Claims Scheme (FCS) in Australia is crucial for protecting depositors.

Under this scheme, selected accounts are protected up to a certain limit if Thriday were to face insolvency.

This government-backed safety net guarantees funds are secure, adding a layer of reliability for users.

Thriday aligns itself with such protective measures, automatically ensuring customers’ funds are covered within the limits of the scheme.

For individuals seeking reliable banking, understanding this scheme is essential as it provides a safety net and enhances confidence in banking services.

Digital wallet security

Thriday supports integration with digital wallets like Apple Pay and Google Wallet, allowing users to make payments easily and safely.

Security measures include tokenisation, which replaces sensitive card details with unique tokens for transactions, keeping the actual card information secure.

The Visa Debit Card issued by Thriday supports these digital wallets, enabling secure online and in-person payments.

Users can enjoy added convenience and peace of mind knowing that their sensitive information is protected against unauthorised access.

Such modern security features signify a commitment to safeguarding customer data while allowing seamless financial transactions.

Business growth support

Thriday bank accounts offer valuable tools to enhance business growth by focusing on financial health and stability.

These tools provide insights into areas like tax forecasting, GST, and cash flow management, which are essential for small business owners looking to grow sustainably.

Business forecasting tools

Thriday equips businesses with automated forecasting tools that help in analysing future financial health.

These tools assist businesses in predicting cash flow needs, tax obligations, and GST.

The platform's integration allows for accurate tax forecasting, which helps in planning for future expenses.

The system includes Profit First automation to manage finances efficiently.

By reallocating funds to different accounts, business owners can easily budget for taxes, GST, and profit.

This enhances financial stability and assures business growth by ensuring funds are appropriately allocated and used.

Thriday's business bank accounts also allow users to open multiple accounts to manage cash flow and budget effectively.

Interest bearing accounts

Frequently asked questions

Learn more about Thriday bank accounts, including how to set one up, changes in interest rates, user reviews, and integration capabilities with other financial services.

How can I open a Thriday bank account for my business?

To open a Thriday bank account, visit the Thriday website and follow the online application process. You generally need to provide business details and identification. Once approved, you can access your account and additional features right away.

What are the recent changes to Thriday's interest rates?

Thriday offers competitive interest rates. You can find the rates on their Accounts FAQs section to ensure they are up-to-date. Make sure to review the current rates before making any financial decisions.

How does Thriday's functionality compare to Xero for accounting purposes?

Thriday is able to automate bookkeeping and accounting due to the integrated banking services. While Xero is a well-established accounting platform, Thriday offers seamless banking and financial management tools that cater to small businesses. We focus on the user experience of the small business owner, not the accountant.

What are users saying in the latest reviews about Thriday's services?

Read hundreds of reviews from Thriday users here.

Can Thriday accounts be integrated with other banks?

Thriday is an authorised representative of the Regional Australia Bank but does not directly integrate with other banks.

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