What is Thriday? Brand overview
Founded in 2020 and launched in 2022, Thriday is built for Australian sole traders and small businesses. It operates as an authorised representative (No. 1297601) of Regional Australia Bank (RAB), which holds an Australian Financial Services Licence (AFSL 241167) and issues all transaction accounts and Visa Debit cards.
How does the Thriday business account work?
Thriday gives you up to 10 linked transaction accounts backed by Regional Australia Bank. Every transaction made with your Visa debit card is automatically captured, categorised, and used to update your bookkeeping and forecast your tax position.
Thriday's three-plan structure overview
Our Thriday business account review would be incomplete without going over the platform's tiered subscription model. You can choose from 3 core plans:
- Tireless Transacting (free): Base plan with no monthly fee, full banking features, a Visa debit card, and core bookkeeping tools
- Time-saver (AUD $29.95/month or AUD $299/year): Adds AI-powered automation, including automated allocations, real-time tax calculations, and interest earning across all accounts
- BAS+Tax (AUD $119/month): Fully managed accounting and tax service with 4 BAS lodgments per year, end-of-year tax lodgment, cash flow optimisation, and FY tax planning
The Time-saver plan is free for the first month, and all subscription fees are 100% tax-deductible.
Thriday Tireless Transacting plan: Full review
The Tireless Transacting plan is where most users start, offering more than expected from a free tier.
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Higher-tier plans: What's available?
Higher-tier plans offer extra automation and support:
- Automated allocations triggered by income or expense patterns
- Enhanced tax forecasting and cash flow insights
- Accountant-assisted BAS lodgment and tax services
The BAS+Tax plan hands off compliance entirely to Thriday's registered tax agents. BAS lodgment is also available as a standalone add-on.
Thriday business account fees
The base plan has no monthly fee and no minimum deposit. The Time-saver plan costs AUD $29.95 per month or AUD $299 annually.
ATM withdrawals are free at major Australian ATMs. International card transactions attract a 3.5% currency conversion fee, and incoming international payments carry a flat AUD $15 charge.
International payments with Thriday
Thriday accepts incoming international payments for AUD $15 but does not support outbound transfers. Overseas purchases incur Visa's exchange rate plus a 3.5% fee.
Eligibility: Who can open a Thriday account?
Thriday is currently available to sole traders in Australia. Company, trust, and partnership support is planned but not yet live.
You need a valid Australian Business Number (ABN). An Australian Company Number (ACN) will become relevant once company structures are supported.
Documents required
To open an account, you will generally need:
- An ABN
- Valid personal ID such as a driver’s licence or passport
- Basic business details, including name and address
- A tax file number (TFN) for tax-related features
How to open a Thriday account
If you decide to open an account, go to the Thriday website or download the app, click "Join For Free," and complete the registration steps with your personal details and ABN. After completing the identity verification, you'll have immediate online access and a digital Visa debit card, with your physical card mailed shortly after.
Is Thriday safe? Regulatory status and security information
Thriday operates under Regional Australia Bank (Australian Financial Services Licence, No. 241167), with deposits protected up to AUD $250,000. The platform is ISO 27001 certified and AUSTRAC enrolled.
Pros and cons
Before deciding if the Thriday business account is right for you, it’s worth weighing its main advantages and limitations. Here’s a clear overview of what the platform does well and where it may fall short.
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Key limitations to know before you sign up
Thriday currently supports sole traders only, and the absence of outbound international transfers is a constraint for businesses paying overseas. The most useful automation features are behind the paid plan, so free users will experience limited functionality.
Thriday customer support
Support is via online chat, phone (1800 847 4329), or email (wecare@thriday.com.au) during weekday business hours. Paid plan users receive priority support. In-app tutorials cover many common questions.
Ideal business types for Thriday
Thriday works best for sole traders such as freelancers, consultants, tradies, creatives, and gig economy workers who want to reduce their financial administrative loads. It is less suited for businesses transacting in foreign currencies or operating under company or trust structures.
Alternatives to Thriday
If this Thriday business account review has left you hesitating, Aspire is a strong alternative. Aspire offers multi-currency accounts, expense management, and accounts payable functionality for founders operating across borders.
FAQs
Here are some answers to commonly asked questions.
Does Thriday charge monthly fees?
The base Tireless Transacting plan has no monthly fee, while the Time-saver plan costs AUD $29.95/month or AUD $299/year.
What bank is behind Thriday?
Thriday’s transaction accounts and Visa debit cards are issued by Regional Australia Bank (ABN 21 087 650 360), which holds an Australian Financial Services Licence with deposits protected by the Financial Claims Scheme.
Can I use Thriday to lodge my BAS?
Thriday allows BAS lodgment directly through the platform, with self-service starting at AUD $59.95 or accountant-assisted for AUD $199.95 including GST.
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