Tyro Bank Account
With interest and no fees, business banking never looked so good. Find out how a Tyro business bank account can work for you.
Available to Tyro EFTPOS and eCommerce customers.
Have greater flexibility with your settlements
Your ideal business companion
Designed to complement Tyro EFTPOS and eCommerce, the Tyro Bank Account helps you settle sooner and can be configured to automatically transfer a percentage of your daily takings to your external linked bank account. Leaving you with more time to run your business and less time worrying about banking admin.
Tyro Bank Account
Earn more interest on your funds the longer you leave them in the account, and still have access to your funds when you need it.
Effective as of 12 November 2020
|Days funds in Tyro Bank Account||Base Interest Rate||Bonus Interest Rate||Base Interest Rate + Bonus Interest Rate|
|Up to 30 days||0.10% p.a.||n/a||0.10% p.a.|
|Longer than 30 days||0.10% p.a.||0.10% p.a.||0.20% p.a.|
|Longer than 60 days||0.10% p.a.||0.20% p.a.||0.30% p.a.|
|Longer than 90 days||0.10% p.a.||0.30% p.a.||0.40% p.a.|
On 12 November 2020 the Base Interest Rate on the Tyro Bank Account changed from 0.25% p.a. to 0.10% p.a. The Bonus Interest Rate tiers also changed from 0.25% p.a. to 0.10% p.a.
Rates effective 12 November 2020 but subject to change. Interest rates are variable and interest is calculated daily and paid monthly on the third business day. Bonus interest is paid on the portion of the balance that falls within each tier. Tyro EFTPOS and eCommerce Banking customers who do not opt to have funds remain in the Tyro Bank Account and have their daily takings auto-swept to their nominated linked bank account, do not earn any interest.
Effortless. Efficient. Integrated banking
Seamless reconciliation with integrated bank feeds to Xero. Schedule batch payments in Xero – including BPAY and bank transfers, and Xero Payroll.
Gain on-the-go insights and manage your business wherever you are
Never run low
Just-in-time reminders will let you know if funds are low, so you can reschedule bill payments.
Automatically receive a notification if a new payee is included in a batch.
Monitor interest earned
Keep track of monthly interest on your EFTPOS transactions.
Easy set-up for recurring payments
Set and forget your regular payments.
Voice command payments
Tyro was the first in Australia to allow payments to be made from its business bank account using Apple’s smartphone assistant, Siri*.
Track EFTPOS transactions
Hourly transactions to pick up on sales times and trends.