Solo Money is a business bank account that integrates into Solo, so you have accounting, banking and payments all in one place.
Fees
Solo Money has no monthly account keeping fees on active accounts. Learn more about fees.
Eligibility criteria
To open a Solo Money Account, you’ll need to meet several requirements, including:
being subscribed to Solo by MYOB
holding an active ABN
being at least 18 years old
being a tax resident of Australia only.
Supported business types
sole traders
private companies directly owned by individuals
partnerships with only individuals as partners.
Unsupported business types
trusts
other businesses owned by non-individuals
public companies
associations
cooperatives
government bodies.
Apply for Solo Money
We ask for some of the details you entered to sign up for Solo. We ask for this again to meet legal requirements and protect your data.
Before you begin, you can speed things up by having the following details handy:
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Australian Business Number (ABN)
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business details - industry and location
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proof of identity - Australian driver's licence, Australian passport or Medicare card
If your business has other owners or directors, have their email address ready, and we'll invite them to identify themselves.
To get started, tap Solo Money, tap Apply and follow the prompts. It only takes 10 minutes to apply.
If you've successfully completed the identity verification process, your account will open instantly. You can then set up Solo Money so that you get paid into it and pay for expenses.
If your application was not successful, we will email you.