Tyro takes on Fine Food 2025, proudly backed by American Express
Quick Summary: The new Tyro Transaction Account (TTA) is built for SMBs with features that make banking simpler and more practical. No monthly fees or minimum balances, same-day EFTPOS settlements * 7 days a week, and a Tyro Visa Debit card with real-time payments via PayID®, PayTo®, and Osko®.
Manage payroll and bills with multiple accounts, BPAY, and direct entry, while the Tyro Bank App gives real-time visibility of sales and cash flow. With the option of fixed-term deposits ^, the TTA helps SMBs cut costs, save time, and stay in control.
Small and medium businesses are the backbone of Australia’s economy, making up more than 97% of all businesses and employing nearly half the workforce. Yet many face constant pressures from rising operating costs and tighter margins, to navigating complex banking products that aren’t always designed with SMBs in mind.
The new Tyro Transaction Account, available exclusively to Tyro EFTPOS customers, is designed to change that. It brings together the best of digital banking with practical features tailored to the real needs of growing and established businesses.
Keep more of your money
Too often, business owners pay just to hold a business bank account. Monthly fees, minimum balances, and hidden charges take a toll, especially when margins are already tight. The Tyro Transaction Account helps you cut those costs, keeping more of your money in your business where it matters most:
- No set-up fees
- No account-keeping costs
- No minimum balance
Almost 90% of customers believe Tyro products help them manage their cash flow § giving them more confidence to focus on growth.
Access your takings easily
Cash flow is one of the biggest challenges for SMBs. Waiting days for EFTPOS settlements can mean scrambling to pay staff, delaying supplier invoices, or dipping into reserves to bridge the gap. The Tyro Transaction Account ensures your money is available faster, so your business keeps running smoothly without cash flow stress:
- Same-day settlements *, 7 days a week
74% of customers say same-day settlements are a big help to their business ¤ and almost 80% say Tyro’s fast settlements give them the cash flow they need, when they need it δ.
Spend and pay your way
Too often, business owners face delays or hurdles when they simply want to access their own money. With the Tyro Transaction Account, you can:
- Request a Tyro Visa Debit card for instant access to your funds
- Make payments via the New Payments Platform (NPP), including PayID®, PayTo®, and Osko®
- Pay or get paid 24/7, even on weekends and public holidays
Almost 90% of customers that switched to Tyro say it made the process easy †, so you can spend less time worrying about payments and more time serving your customers.
Simplify bills, payroll, and money management
Managing payroll, supplier bills, and multiple business accounts can quickly become overwhelming. The Tyro Transaction Account helps you stay organised and reduce admin headaches by letting you:
- Open multiple accounts to separate funds for payroll, tax, or savings
- Set up scheduled and recurring payments to streamline regular outflows
- Pay bills via BPAY ® and make batch payments for staff
80% of Tyro customers say working with Tyro means they experience fewer payment processing errors #, and 79% agree that Tyro saves them time ‡.
Stay in control, wherever you are
Business owners often feel like they’re flying blind when it comes to their finances. With the Tyro Bank App, you always have access to the tools you need to stay in control, wherever you are:
- Card and payment controls at your fingertips
- Live chat with a Tyro agent when you need support
- 24/7 fraud protection for peace of mind
75% of Tyro customers say Tyro helps them serve more customers, more quickly ^, because they spend less time worrying about their accounts and more time on the floor, with their teams, or building customer relationships.
Plan ahead with term deposits
Many SMBs struggle to set aside money for future growth or unexpected costs. With Tyro fixed rate, fixed term deposits ^, you can lock in certainty and manage cash reserves strategically, knowing your funds are working for you.
- Start with just $1,000 – far lower than the $5,000 minimum at the big four banks
- Exclusive, competitive rates designed to help your savings grow faster
- Flexible terms from 30 days to 12 months
Banking that works for business
The Tyro Transaction Account isn’t just another account – it’s banking built for SMBs. By eliminating monthly fees, providing faster access to funds, supporting easy payments, and simplifying bills, it gives business owners more control and less admin.
Please note:
The Tyro Transaction Account is available only to new customers with a Tyro electronic payments facility. Existing Tyro Bank Account holders can contact our customer support team to find out how to switch to a Tyro Transaction Account.
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