Business Online Banking

To register for Business Online Banking, you need to be a Bank of Sydney customer with at least one Business account which can be accessed through Online Banking.

If you’re eligible for Business Online Banking, pop into any of our BOS branches and complete the relevant forms. Alternatively, we can send you the form to complete which you can forward back to us by email or mail. After you’ve completed and signed the forms, you’ll receive your login credentials within 24 hours via email.

There are some functions available for Business Online Banking users that aren’t available for Personal users, such as group payment, file upload, stop checks, creating external users (for multi-user profiles) and dual authorisations for Business accounts with ’2 to Sign’ as the mode of operation.

Multi-user business banking profiles have an admin called ‘Role Manager’ or ’Master User’ who can create, delete and modify users under the business platform, and assign accounts and transactions. When a Business is set up for multi-user access, the Role Manager can set up the business member’s access based on the business requirements.

 

Single-user customers are given an individual login access that doesn’t allow them to set up any other users under their administration.

The Role Manager is nominated by the business owner or director. Under a multi-user Business Banking profile, the Role Manager (Master User) can create, remove or modify users and control their access. The Role Manager can also set up the daily limits for each user and decide on the business authorisation structure by setting up the role of each user.

 

When a business applies for Business Online Banking, full details of the nominated Role Manager must be completed on the application form.

Digitoken is a mobile app available to download for both iOS and Android devices via the App Store or Google Play. Once this application is registered on your mobile device, all the authorisations required for Business Online Banking must be authorised through this app. Please note, if a Business Online Banking user has the default daily limit, the transaction’s authentications will be sent via SMS security codes.

For Business Online Banking users, using Digitoken is an option unless the user’s daily transactions go over the default daily limits.

The default limits for business users are:

 

  • Within Own Account Transfers Unlimited Amount
  • Domestic/Within BOS Transfers $10,000
  • BPAY (Bill Payments) $10,000
  • International Payments $ 5,000

 

Using Digitoken for authorisation is easy. Any authoriser who wants to approve a transaction will be given instructions to refer to their Digitoken app during the authorisation process.

Under a multi-user Business Banking profile, a Maker can only initiate payments and transactions, and always requires an authoriser or two authorisers (for ‘2 to sign’ businesses) to approve the transaction/s.

Under a multi-user Business Banking profile, an Authoriser can only authorise the payments and transactions that are initiated by Makers and Authorisers.

Under a multi-user Business Banking profile users can be assigned as both Maker and Authoriser, to initiate and authorise payments and transactions.

Please note, if the mode of operation of a business requires two level authorisation, the payments that are made and authorised by the Maker and Authoriser needs a second authoriser’s approval before being completed.

There is currently no mobile banking application available for Business Online Banking users.

The Role Manager of a multi-user business can only assign accounts and transactions to other members of the business, however they are unable to initiate or authorise any payments and don’t have access to account details and transactions.

Please note: if you’re a Role Manager and wish to have access to the account/s and perform transactions, you’ll need to create a second login for yourself by creating a new user access under ’User Management’.

You can change your business profile from single to multi-user at any time by visiting one of our BOS branches and completing the relevant forms.

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