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Read moreA sole trader’s guide to Business+
Business+ is banking designed with sole traders in mind. Explore these guides to help you make the most of its fantastic features.
Business+
Business+ is made for sole traders
Business+ is 100% digital business banking. It’s open 24/7 with no queues, hold music or paperwork.
Open bank accounts with no monthly account fees, earn high interest on every dollar of your savings, and use Business+ Invoices free to get paid faster.
Available online and in the Business+ app.
FAQs
Common questions from sole traders
There are many things to consider when starting a business. A good place to start is a business plan and structure. You might need to register for licences and permits. Of course, choosing a name is the fun part. A vital part of starting a new business is opening separate business bank accounts so you can manage your money more easily.
A sole trader is a simple business structure with typically less paperwork and set-up costs. A sole trader is legally responsible for all aspects of their business including debts and losses. A company is a more complex structure with higher costs and ongoing requirements, but it forms its own separate legal entity.
Yes. If you're a sole trader, it's a good idea to open your own business bank account. Keeping your business transactions separate from your personal bank accounts makes your business banking easier to manage.
Yes. You’ll need an Australian Business Number (ABN) to open a business bank account. You’ll also need to be a registered sole trader or company and provide one form of ID to open a Business+ Account or Business+ Saver. Check full eligibility requirements.
It's a good idea to keep your personal and business bank accounts separate to make it easier to manage and track your business income and expenses.
No. Your business needs to run for a minimum of one year before you can apply for a loan. Opening a Business+ Account and Business+ Saver is a good way to show trading history when it's time to apply for a loan.
For businesses of all shapes and sizes
Handy hints for your kind of business.
Important information
Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL 238317. Conditions, fees and charges apply. Information on Business+ accounts is general information and does not consider your objectives, financial situation or needs. You should consult the Product Disclosure Documents before making a decision to apply for products.
This product is only available for business purposes. Terms, conditions, fees and charges may be applicable.
1 For a full list of fees, please refer to the Schedule of Fees.
>> Rates current as at 21 May 2026 and are subject to change.
Deposits up to $250,000 per account holder are guaranteed by the Federal Government under the Financial Claims Scheme.
2 Lending criteria, limits, conditions and fees apply. Applications are subject to credit approval.
Great Southern Bank Business+
Business+ BSB: 834 472
Eligibility requirements
- You must be aged 18 or over
- You must be an Australian resident
- You must be a sole trader, or in a partnership or a company owned by individuals
- ABN for your organisation
- An email and a mobile number
- One form of ID such as your driver's licence, passport, or Medicare card