Australia Post Business Credit Account. How does it work, is it for you?

If you’ve recently set up a business and need to set up a business credit account, the Australia Post Business Credit Account may be on your radar.

The Australian Post is a government business providing postal services to both personal and business customers across Australia. Their Business Credit Account is designed to help businesses better manage their deliveries and invoices, with a focus on business growth and efficiency.

In this article, we’ll provide you with key information regarding the Australian Post Business Credit Account. This will include a brief description of what the account is and how it works, fees customers can expect to incur, the main features of the account, plus how customers go about signing up/managing their new business credit account.

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What is the Australian Post Business Credit Account?

The Business Credit Account with Australia Post is a service which helps Australia Post customers to better manage deliveries and invoices for their business(es) online from one account.¹

Products including the following can be billed to a Business Credit Account, allowing customers to manage business transactions in one place¹:

• Letter/parcel services
• Postage meter resets
• Satchels and pre-paid envelopes (includes Express Post)
• Courier, packaging, and mail redirection/holding services
• Stationery/office stock
• Marketing/data products

What are the Australian Post Business Credit Account fees?

See below the current fees for an Australian Post Business Credit Account¹:

• $10 AU direct debit dishonour fee
• $5 AU admin fee for overdue invoices plus fee calculated on the amount unpaid (late payment of 0.2% of amount due will be payable for accounts on credit terms of 14 days or less. If on credit terms of over 14 days, late payment fee of 1.5% of amount due will apply. Late payment fees are payable as at the date of each invoice).
• No fees on application for either a Business Credit Account or an online My Business Account
• No recurring admin fees

What are the main features you get with an Australia Post Business Credit Account

Here are some main features that customers will receive when signing up for an Australian Post Business Credit Account¹:

• Application is free
• Products, invoices, and personal details manageable from one account
• Australia Post tax invoices are payable online
• Current/historic tax invoices available to view and download in PDF/CSV formats
• Transactions can be reviewed and reconciled in one account
• Australia Post can be contacted online via the Business Credit account
• 13 months of payment history available, plus 4 years of account balance history

How to signup for an Australia Post Business Credit Account

We’ve included below the necessary steps involved in signing up for an Australian Post Business Credit Account.

This also includes any requirements you’ll need to meet to open this account successfully.

Requirements for an Australian Post Business Credit Account

Requirements for an Australian Post Business Credit Account include the following¹:

• Details for your business including ABN, business type, and registered business address
• Details of directors including name, date of birth, and personal address
• Bank account details to set up a direct debit
• Information regarding suppliers you currently have credit terms with as references
• Must be 18 years or over.
• Must be a director of the business
• Customers must spend a minimum of $1,000 AU per month on Australia Post services

How to sign up for one

Signing up for an Australia Post Business Credit Account differs slightly depending on the Australia Post products you regularly purchase.

If your monthly expenditure exceeds $1,000 AU per month on Australia Post parcel sending, follow the below instructions¹:

1. Log on to MyPost Business
2. Select Offers page
3. Navigate to the Business Credit Account application form
4. Complete form

The application form should take between 5-10 minutes to complete and submit.¹

If your monthly expenditure exceeds $1,000 AU per month on other Australian Post services such as letters, packaging, stationery/office stock, or digital ID services, you’ll need to collect a Business Credit Account application form via your local Post Office and return the completed form to the address listed on the back of the form.¹

Alternatively, the form can be emailed as a PDF.¹

How to manage your business credit account

The Australian Post Business Credit Account can be managed online via the online My Business Account.¹ It’s worth noting that this is separate from MyPost Business.¹

This allows customers to do the following¹:

• View and pay for Australia Post tax invoices
• View and amend personal details
• View and download existing and historic tax invoices (documents downloadable in PDF or CSV format)
• Reconcile and review transactions in one place
• Access processed payment history from up to 13 months plus 4 years of account balance history
• Access account information 24/7 from anywhere in the world
• Contact Australia Post

Contact AusPost business

Australia Post Business can be contacted via the following avenues:

• Phone:
  - Local: 13 11 18
  - International: +61 88479045
• Online contact form
• Online web chat

Wise Business

The Wise Business Account is a good alternative for local and international banking and more flexible with the businesses it supports. You can check here if your business is supported.

With this Business account, you can make international payments to 80 countries in over 50 currencies using the transparent mid-market rate plus a small transaction fee.

You’ll also get access to local Australian AUD account details, and account details for over 9 other major currencies.

The Wise business debit card can be used at ATMs, in-store, or online shopping via the Mastercard network. Additional cards can be made available for other team members as you choose, with one fixed card-creation fee per card and no monthly fees.

Find out how the Wise business account can save you money.

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