Corporate Bank Account Opening

Swift corporate bank account opening in Australia

BD Welsh partners with payment service providers to streamline the process of opening a corporate bank account in Australia. Beyond just forming a company, we ensure that you are fully prepared to conduct business in Australia through the integration of our corporate bank accounting opening services.

How our Payroll Process Works

Step 1: Determine what banking services are needed

Step 2: Choose the bank you want to open an account with

Step 3: Conduct an offline meeting with a bank representative (if required)

Step 4: Prepare and submit the required documents to open a bank account

Why BD Welsh?

Frequently Asked Questions

How long does it usually take a foreign company to open a corporate bank account in Australia?

It will depend on the bank you choose to open a bank account with. Generally, it takes longer to open a bank account with one of the Big Four banks in Australia (anywhere between two to three months). For smaller banks the set up time is generally faster (usually within two to three weeks).

Do I need to have an offline meeting with a representative from a bank in order to open an account with them?

Offline meetings are required by some banks as part of their KYC measures. However, there are banks in Australia that do not require an offline meeting in order to open a bank account with them. However, it is important to ensure that the company has at least one resident director and one resident shareholder before opening a bank account with an Australian bank.

What information is required from foreign investors that want to open a corporate bank account in Australia?

Foreign investors that want to open a corporate bank account in Australia are usually required to submit a combination of identification documents, signatures of the company’s directors and assigned authorities to the account, and general information about the company operating the bank account.

What fees are involved in operating a corporate bank account in Australia?

Fees typically associated with operating a corporate bank account in Australia include:

Monthly account maintenance fees
Transaction fees
International transaction fees
Currency conversion fees

These components must be correctly calculated and reported each pay cycle to comply with legal requirements and guarantee employees receive their full entitlements.