Smart businesses need smarter business bank accounts
Even if your business has multiple monetary needs, there is no need to have too many bank accounts, cards, transfer accounts, or an endless list of SaaS subscriptions. Volopay’s business accounts take care of it.
An intuitive and smart multi currency business account that allows you to track all your accounts payables and receivables. With no minimum balance, no limits, and low fees - your business can truly fly. All thanks to a multi currency account Australia option.
Volopay offers the ability to run a business account with wallets in multiple currencies. It makes holding money in different wallets much smoother, allowing you to transfer money internationally faster and cheaper than a traditional bank business account Australia offers.
Save the money you’d be wasting on conventional transfers and remittance fees.
Local transfers with a business account are seamless transactions. Be it local vendors or salary payouts to your employees - domestic transfers take place in seconds with the aid of a domestic business account Australia. All transactions are recorded in real-time, so managing your department is a piece of cake.
Control and handle all your expenses from a single account without the hassle of numerous statements and reconciliations.
Have a list of international vendors to pay? Or perhaps employees working remotely from all over the world? Ditch the traditional wire transfers that take days and rack up fees with every location they travel. Instead, using a multi currency account lets you complete transfers at a low FX rate with competitive remittance fees.
With our multi currency account Australia you can send money to over 180 countries on time and with complete transparency.
You don’t need funds in your multi currency account Australia wallet all the time for efficient operations. Having access to a business credit line can make handling expenses and revenue smoother. You can apply for a flexible credit line with Volopay, up to $500K. Available on corporate cards, it allows you to make payments and continue scaling.
No personal guarantees are needed. Just a speedy check and approval. Since cards are linked to the business account Australia framework, all spending is tracked.
Corporate cards for your team make reimbursements easier. In fact, you don’t need to reimburse at all. Cards come with set budgets, controlled funding, and approval lines that make spending admissible.
Instead of chasing payments, your employees can comfortably make business purchases. Since the cards are linked to your multi currency business account, the spending is tracked as it happens.
Your business account is more than just a store for funds. With a multi currency account Australia ledger, you have a dedicated way to manage all your accounts payable and receivable.
Vendor management becomes easier when you can have transparency and a maker-checker system to initiate payments in a timely manner. No missed invoices, no lost receipts.
No more switching between multiple bank accounts and tools to run your smart business. We have combined great software with every service you are using a bank for, to produce a state-of-the-art financial platform.
Empower your employees with physical and virtual cards
Manage and track every dollar that leaves your company
Open a global account with multi-currency payments.
Manage vendors, approve invoices and automate payments.
Save hours daily, and close your books faster every month.
Integrate with the all the tools and software that you use daily.
You now have the option to use a single dashboard to manage all approvals, accounts, bills, reimbursements, accounting, and cards.
The accounts payable platform is usable by any employee that you approve. Set up advance payments for vendors, fast track your payroll, and also add money to your corporate cards for domestic use. Local money transfers at the drop of a hat and reported in real-time for better control and approval.
Your foreign payments are easy to manage as your domestic ones. With the help of your Bill Pay dashboard, you can quickly send money to anywhere in the world. All payments get recorded in the ledger so that you know exactly when, where, and how much you’ve spent.
Go truly global. Don’t just pay international vendors. Create a multi currency account to hold money in different currencies and pay vendors and employees without the long-drawn processes and fees associated with a classic wire transfer. We have some of the lowest FX rates in the industry, as well as support for more than 180 currencies.
Stop accounting in an old-fashioned way. Accounting automation makes it possible for every transaction to be synced and reconciled as and when it happens. A quick swipe of a card, or a major transfer. Everything is neatly reported, documented, and accounted for with the help of integrations with your favorite accounting software.
Numerous small business expenses racking up a charge? Or a major expense that seems a tad too tight for the available funds? Utilize Volopay’s business credit line for easier spending. The flexible cycles and easy approval process aids your business in its intended growth path. Get up to $500K to use for your company!
A single place for you to manage all your dues. Create vendors, add them to the system, and maintain a precise list of payment and invoice histories. The tech-driven bill payment platform stores all payments, POs, invoices, and receipts in the same spot for easy reconciliation and accounting. Setting up advance recurring payments also makes it easier to avoid late fees.
Any company can apply for a business bank account opening application online, however many banks in Australia have a condition that account signatories, major directors of the company etc. must be present physically in the bank at the time of paperwork signing. For further details, click here.
Yes, to open a business bank account you must have your business registered. For formality purposes you will require company registration documents at the time of account opening.
No, before you open a business bank account in Australia, you must have a company. This means you must have a company that has director(s) and authorized signatories, who essentially need to be present to sign the paperwork of the account opening. There might be some rare exceptions based on a bank's own requirements.
Which business bank account type is suitable, for example, is one of many questions that entrepreneurs must address both during and before opening a business bank account. What conditions must be met for a business account? What would the costing be? etc. Before doing anything else, you should be aware that you must have all required legal documentation and other requirements ready to go in order to be eligible to open a business bank account.
To make a business bank account application in AUstralia, you’ll need to provide 1. Proof of identity (your passport or driving licence), 2. Proof of address (a utility bill or bank statement will suffice), 3. Business name and registered address. and 4. Nature of your business. Your credit history might also be taken into consideration.
Read up on snippets of the latest news and reports on business accounts in Australia
Small businesses to get $314m in tax cuts for going green. Small and medium-size businesses that invest in energy efficient equipment could be eligible for a tax deduction of up to $20,000.
ACH payments are secure, but even if an unauthorized electronic funds transfer is made from your account, you can avoid liability for the payment If you notify your bank or Credit union within 60 days of the payment.
With a multi-currency account, a business can send, receive and hold payments in multiple currencies. It helps the business in avoiding fluctuating conversion rates that can get costly at times.
Reduce business bank account charges by 1. Preferring online banking platforms 2 Be vigilant about transaction limitations 3. Decline overdraft protection 4. Go for email statements instead of postal statements.