A great variable rate
No introductory rates. No tiers. No minimum balance. Just a great variable rate, compared to traditional business transaction accounts.
Business Account
4.55% p.a.
Variable rate
Start earning more today with a Business Account.
Get startedIt's a Business Account, not a bank account.
Built for Australian businesses.
Most banks offer minimal rates on their business customers’ surplus funds. Shift isn’t a bank, but we can provide a great variable rate on your business funds, while continuing to support your ongoing borrowing needs.
Open a Business Account
Open the account to start earning a great rate on your business funds. Log in to Shift Online and select the ‘Business Account’ option from your Home dashboard to get started.
Pay and get paid easily
Pay your suppliers, get paid by your customers with your BSB and account number.
Simple online experience
View your balance, returns, and transaction history in Shift Online.
How do I open a Business Account?
Get startedLog in to Shift Online
Select Business Account from ‘Explore your product options‘ via the Home dashboard. Then review the product information and follow the prompts to get started.
Important to know
The Business Account isn’t a bank account or deposit product, and it isn’t covered by the Australian Government Financial Claims Scheme. Capital is not guaranteed. The variable rate displayed is indicative only – returns may differ from the target rate and are not guaranteed.
Account structure
Credit balances in your Business Account are an investment in the Shift Cash Management Trust (Shift CMT), a registered managed investment scheme. When you add funds to your Business Account, you acquire units in the Shift CMT.
Variable rate
The variable rate is a target rate based on the expected return generated from the performance of the Shift CMT, which invests in deposit accounts issued by banks.
Accessing funds
The Business Account is designed to provide flexible access to your funds, similar to how an everyday transaction account operates.
Help centre
For ‘how to’ instructions, visit our Help Centre. Learn how to:
- Open and view your account online
- Transfer and repay funds
- View balances, statements and more
Product documents
View and download Business Account product documents
FAQs
Do I need to be credit assessed to open a Business Account?
No. Credit assessment is not required to open a Business Account. We do recommend seeking financial advice and always consider the Product Disclosure Statement (PDS) before deciding whether the product is right for you. A Target Market Determination is also available which defines the class of customers for whom the Business Account is likely to be consistent with their objectives, financial situation and needs.
What does the Shift CMT invest in?
The Shift CMT is an investment structure where your funds are pooled with other customer’s funds and then invested into deposit accounts issued by banks.
Are there any fees charged for opening or using the account?
There are no fees to open the Business Account, transfer or withdraw funds, or to close the account. You can use it day-to-day without incurring any transaction-related fees. Please refer to the PDS for a summary of all fees and costs.
Can anyone open the Business Account?
Right now, the Business Account is only available to a small group of existing Shift customers. This is to allow us to test the experience and get feedback.
You’ll receive an email and SMS from us if you’re eligible to open a Business Account, and you’ll also see an option to open it when you log in to Shift Online. We recommend seeking financial advice to determine if this product is right for you.
The Business Account will become available to other eligible customers in the future, and we will update our website when this occurs.
Shift RE Services Ltd (ABN 52 692 646 049) (AFSL 700230) (“Shift”) is the Responsible Entity and issuer of the Shift Cash Management Trust (ARSN 701 319 486) (“Fund”), a registered managed investment scheme. This information is general advice only and does not take into account your objectives, financial situation or needs. Consider the Product Disclosure Statement, available on this page, before deciding whether the product is right for you.
The Business Account is an investment in the Fund. Credit balances are invested in the Fund and represented by units. It is not a bank account, deposit account, term deposit or other liability of any bank. Shift is not an authorised deposit-taking institution (ADI). The rate of return associated with the Business Account is a variable target rate that is not guaranteed and may be changed by us at any time.Capital is not guaranteed and is subject to investment risk. The Fund is not covered by the Australian Government Financial Claims Scheme.