Bank Account

tyro customer with business bank account

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 banking ios and android mobile app tyro banking ios and android mobile app
Tyro Bank Account

Earn interest

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.

Interest Rates
Effective as of 07 November 2022

Days funds in Tyro Bank Account Base Interest Rate Bonus Interest Rate Base Interest Rate + Bonus Interest Rate
Up to 30 days 0.50% p.a. n/a 0.50% p.a.
Longer than 30 days 0.50% p.a. 0.65% p.a. 1.15% p.a.
Longer than 60 days 0.50% p.a. 0.80% p.a. 1.30% p.a.
Longer than 90 days 0.50% p.a. 0.95% p.a. 1.45% p.a.

On 07 November 2022 the Base Interest Rate on the Tyro Bank Account changed from 0.10% to 0.50% p.a. The Bonus Interest Rate tiers also changed in line with the table above.

Rates effective 07 November 2022 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.

tyro banking mobile app
Tyro & Xero

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.

More about Xero Integration

tyro banking mobile app
On the go with the Tyro App

Access 24/7 mobile banking

The Tyro App lets you access 24/7 mobile banking so you can stay on top of your business from anywhere plus intelligent notifications, bank transfer, BPAY® and direct debits.

Download the app:
App Store
Google Play

Introducing the Tyro App

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.

Safe 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.

Fee-free. Interest-bearing

Flexible business banking

7-day settlements

Flexible Settlements are paid into your account 7 days a week at a time of your choosing if you settle into the Tyro Bank Account^, so you can earn interest and access your cash straight away.

Linked banking

For seamless cashflow management, link the Tyro Bank Account with any other Australian Financial Institution.

Government guarantee

Security guaranteed. Your deposits are protected under the Financial Claims Scheme up to $250,000 per account holder.

For more information visit ASIC’s website.

Make your business work better