Guide to ING Business Bank Accounts in Australia (2026)

Key takeaways

• ING offers business accounts, but they're savings, term deposit, and lending products. ING does not currently offer an ING business transaction account in Australia.

• The Business Optimiser has no ING fees and needs no minimum balance, but money can only move to and from one linked account. There's no debit card.

• Airwallex offers a business account that handles local and international payments, cards and multi-currency accounts – and Yield earns returns on idle AUD and USD.

Yes, ING does offer business accounts in Australia – but they're savings, term deposit and commercial lending products, not an everyday transaction account. When you compare ING business accounts, the main choice is between the Business Optimiser (flexible, variable-rate savings) and the Business Term Deposit (a fixed rate for a set term).

ING may suit businesses that want to park surplus AUD with no ING fees and a government guarantee. This guide covers each ING business product, its limits, how to open one and how ING fits alongside a transaction account for day-to-day payments. You can also compare business bank accounts across other providers.

What business accounts does ING offer?

ING offers three business deposit products – the Business Optimiser, Business Term Deposit and Wholesale Term Deposit – plus three commercial property lending products.

The Business Optimiser and Business Term Deposit are available to eligible sole traders, Australian private companies, SMSFs and trusts, subject to ING’s registration, address and tax-residency requirements. Public companies, unincorporated associations, partnerships, incorporated associations and personal use are excluded under current criteria. The Wholesale Term Deposit has separate eligibility rules.

ING's three lending products are all tied to commercial property and sit separately from its deposit accounts.

Does ING have a business transaction account?

No, ING doesn't offer a business transaction account. Its business products are deposit and lending accounts designed to run alongside a transaction account at another bank.

With an ING business deposit products, you can't:

• Get a debit card

• Make BPAY, PayID or pay-anyone payments – withdrawals go only to one nominated linked account at another Australian bank

• Send or receive international payments or hold foreign currency

• Link an ING Orange Everyday account, as it's a personal account

Because there are no ING business transaction accounts, you'll need a separate business transaction account to pay suppliers, staff and bills.

ING Business Optimiser

The ING Business Optimiser is a variable-rate business savings account with no ING fees and no minimum balance. It's built for holding surplus AUD, with money moving only to and from one linked business account at another bank.

Key features

• A variable welcome rate for the first six months on balances up to A$1 million (first Optimiser per entity, new customers only), then the standard variable rate

• No ING fees

• No minimum balance

• Interest calculated daily and paid monthly

• 24/7 online access for one to four authorised users

• Eligible combined AUD deposits are protected under the Financial Claims Scheme up to A$250,000 per account holder per authorised deposit-taking institution.

Limitations

• One linked external business account only

• No debit card

• AUD only

• ING can refuse deposits above A$5 million combined across Optimiser accounts

• Statements are issued quarterly

Rates change regularly, so check ING's website for the current welcome and standard rates.

ING Business Term Deposit

The ING Business Term Deposit locks in a fixed interest rate for a set term. It suits cash you're confident you won't need until maturity.

• A fixed rate for the full term

• Deposits from A$10,000 to A$10 million

• Terms of 90, 120, 180, 210, 270 and 330 days, or one or two years

• No ING fees

• Three maturity options – renew principal and interest, renew principal only, or close – with a seven-day grace period on rollovers

Need the money early? You'll need to give 31 days' notice (unless an exception applies, such as financial hardship), and ING reduces the interest you earn on a sliding scale. For example, interest is cut by 90% if less than 20% of the term has passed.

Other ING business products

Beyond the Business Optimiser and Business Term Deposit, ING offers a wholesale deposit for large organisations and a range of commercial property loans.

Wholesale Term Deposit

The Wholesale Term Deposit takes deposits of A$500,000 to A$25 million, with terms from one month to five years. Rates can be fixed or floating and are negotiable through ING's specialist investment desk. It's open to government bodies, public companies, charities, associations and religious organisations.

Commercial property loans

Priority Commercial Loans start from A$500,000, with fixed rates for one to five years or variable rates for terms up to 20 years. Investors can choose interest-only repayments for up to five years. For larger deals, Commercial Property Finance covers investment and development lending from A$5 million.

Business Green Upgrade Loan

The Business Green Upgrade Loan helps existing ING Commercial Property Finance customers fund energy-efficiency upgrades, such as solar panels, batteries and building monitoring systems. Loans start from A$250,000, with a maximum five-year term, interest-only repayments and a margin 0.30% p.a. below the existing facility rate.

How to open an ING business account

Sole traders and private companies with no trust in their structure can apply online, while trusts, SMSFs and existing ING customers apply using downloadable forms or by phone.

1. Check your business is eligible – Australian-registered and an Australian tax resident.

2. For standard deposit products, choose the Business Optimiser or Business Term Deposit. Wholesale Term Deposit applications go through ING’s Specialist Investment Desk.

3. Apply online, or download the forms or call ING if your structure includes a trust or SMSF, or you're an existing customer.

4. Verify ID for each authorised user.

5. Link your business account in the same name and transfer funds.

You'll need:

• Business and contact details for all authorised users and trustees

• Your ABN or ACN, plus a TFN or exemption – otherwise tax is withheld at the top marginal rate

• Details of a linked business account in the same name

• ID for each authorised user (18 or older and an Australian resident)

ING business accounts compared with Airwallex

ING business accounts are built for holding AUD savings, while an Airwallex Business Account is built for running everyday and international payments.

If you want a standard savings account for AUD, ING is a choice for you. The Business Optimiser has no ING fees and no minimum balance; eligible deposits are protected under the Financial Claims Scheme up to the applicable A$250,000 limit.

Airwallex suits businesses that need to pay suppliers, run cards and work across currencies – while still being able to earn returns on idle AUD and USD with Yield. It offers an all-in-one financial platform that combines a Business Account with other features and products such as FX, Yield, accepting customer payments, and more.

How Airwallex works for Australian businesses

Airwallex gives Australian businesses one account to pay, get paid and manage spending, locally and internationally.

• Get local account details in 20+ currencies with a Business Account, so overseas customers can pay you like a local

• Send free local transfers to 120+ countries, with FX at 0.5% above interbank for major currencies

• Issue multi-currency Corporate Cards, with up to 10 free company cards on the Explore plan

• Earn returns on idle AUD and USD with Yield, with no lock-up, and sync transactions through bank feeds with Xero, QuickBooks and NetSuite

Frequently asked questions

Does ING do business accounts?

Yes. ING offers the Business Optimiser, Business Term Deposit and Wholesale Term Deposit, plus commercial lending. The deposit products are available to eligible Australian sole traders, private companies, SMSFs and trusts; none is a transaction account.

Does ING have a business transaction account?

No. ING’s Business Optimiser and Business Term Deposit are deposit products that use a nominated linked business account for withdrawals; a Business Term Deposit may also link to an ING Business Optimiser. Use a separate transaction account for BPAY, PayID, supplier, staff and bill payments.

Do ING business accounts come with a debit card?

No. ING business accounts don't come with a debit card. Business Optimiser withdrawals go to its nominated linked account, while deposits can be made through supported methods. If you need cards for business spending, you’ll need a separate transaction account or card provider.

Is there a minimum balance for the ING Business Optimiser?

No. Under its current terms and conditions (1 May 2026), the ING Business Optimiser has no minimum balance and no ING fees. The welcome rate applies to balances up to A$1 million for the first six months. The Business Term Deposit is different – it needs a minimum deposit of A$10,000.

Can an ING business account send or receive international payments?

No. ING’s deposit products use linked-account arrangements rather than a transaction account. Businesses that need multi-currency payments or foreign-currency balances will need a separate provider.

How many people can access an ING business account?

One to four authorised users can access an ING Business Optimiser, with 24/7 online access. Each authorised user must be 18 or older and an Australian resident, and verify their ID during the application. You'll also need to provide details for any trustees.

Are ING business savings government guaranteed?

Yes. Eligible AUD deposits are protected under the Financial Claims Scheme up to A$250,000 per account holder per authorised deposit-taking institution. ING says Business Optimiser and Business Term Deposit balances are combined for the limit, so it is not A$250,000 per account.

Sources

• https://www.ing.com.au/business.html

• https://www.ing.com.au/business/business-optimiser.html

• https://www.ing.com.au/business/term-deposit.html

• https://www.ing.com.au/home-loans/business-green-upgrade-loan.html