Assuro logo

Bank Guarantees

Save on time

Submit your application online in minutes.
Bank guarantees finalised and dispatched within days.
How it works

Save on fees

No hidden costs and zero ongoing fee with the BNK Bank Guarantee.
Plus, earn variable interest on your deposit.
Fees & rates

Save on hassle

Relationship managers on hand to assist throughout the process.
Completed online without stepping foot in the bank.
Why Assuro?

Why Assuro?

Save time, reduce costs and experience unmatched service.

At Assuro, we provide bank guarantee solutions designed to simplify business, not complicate it.

loyalty

Trusted by thousands

With thousands of registered users and over $50 million in bank guarantees established through our platform, you can move forward with confidence.

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Real support

Our dedicated bank guarantee specialists will get to know you and your business to provide personalised solutions and guide you through the process.

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Prioritise your guarantee

We pride ourselves on having lightning fast turnaround times with the ability to expedite your bank guarantee when time is of the essence.

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Multi-award winning platform

Manage your financial securities with ease. Our platform helps you forecast capacity, keep track of existing documents and apply for new guarantees – all in one place.

Trusted by leading businesses

With great support, fast turnaround times and a range of bank guarantee products, there's every reason to choose Assuro.

Firesfe logo
“We have saved thousands in upfront costs by sourcing our guarantees through the Assuro platform.”
Wayne Rushton
CFO, Firesafe Group
CDI Group logo
“The Assuro platform makes the application process incredibly fast and straightforward.”
Kal Tewani
Finance Manager, CDI Group
Phoenix Car Stackers Logo
“Assuro’s online platform is simple to use and has saved us significant time in terms of applying for and obtaining bank guarantees.”
RObert Candler
Director, Phoenix Car Stacker
Agora Property Group logo
“Assuro’s excellent support, attention to detail and power to expedite the process has made all the difference to our business.”
Jonathan Kilborn
Principal/Licensee, Agora Property Group
DAB Radiology logo
“Assuro provides personalised service from start to finish, working tirelessly to get the bank guarantee processed as quickly as possible.”
Dr Daniell Boima
Owner & Lead Radiologist, DAB Radiology
MMJ Real Estate logo
“Assuro has centralised the management of all our financial securities, giving us a more accurate and improved understanding of this part of our business.”
Chris Geers
Managing Director, MMJ Real Estate (WA) Pty Ltd
Firesfe logo
“We have saved thousands in upfront costs by sourcing our guarantees through the Assuro platform.”
Wayne Rushton
CFO, Firesafe Group
CDI Group logo
“The Assuro platform makes the application process incredibly fast and straightforward.”
Kal Tewani
Finance Manager, CDI Group
Phoenix Car Stackers Logo
“Assuro’s online platform is simple to use and has saved us significant time in terms of applying for and obtaining bank guarantees.”
RObert Candler
Director, Phoenix Car Stacker
Agora Property Group logo
“Assuro’s excellent support, attention to detail and power to expedite the process has made all the difference to our business.”
Jonathan Kilborn
Principal/Licensee, Agora Property Group
DAB Radiology logo
“Assuro provides personalised service from start to finish, working tirelessly to get the bank guarantee processed as quickly as possible.”
Dr Daniell Boima
Owner & Lead Radiologist, DAB Radiology
MMJ Real Estate logo
“Assuro has centralised the management of all our financial securities, giving us a more accurate and improved understanding of this part of our business.”
Chris Geers
Managing Director, MMJ Real Estate (WA) Pty Ltd

Same guarantee,

better process.

print
Issued on paper
The official document is 100% paper based.
quick_reorder
Direct from the bank
The guarantee is sent from the bank by registered post.
share
Online application
Straightforward and simple online application.
query_stats
Progress tracking
Real-time application
status updates.

Same guarantee,

print
Issued on paper
The official document is 100% paper based.
share
Online application
Straightforward and simple online application.

better process.

quick_reorder
Direct from the bank
The guarantee is sent from the bank by registered post.
query_stats
Progress tracking
Real-time application status updates.

The Assuro Difference

While the bank guarantee is still issued on paper direct from the bank, the Assuro experience is 100% digital with real-time process tracking so you're never left wondering where things stand.

How it works.

Our role

Facilitator, not a bank

The Assuro platform enables the bank guarantee application process to be completed online which also streamlines the ongoing management of established bank guarantees.

But Assuro is not a bank and does not issue bank guarantees. Instead, we partner with Australian banks that issue the guarantee and hold the security.

Simple digital experience

Our platform offers a seamless, digital experience for businesses.

While the bank guarantee is still issued on paper, our application process is 100% digital, eliminating the need for traditional paperwork and visits to the bank.

Dedicated support

Your assigned relationship manager is available to guide you through the process. They will be your first point of contact for any questions or assistance needed.

Banking partners

The relationship

Assuro collaborates with trusted, authorised deposit-taking institutions that issue the guarantee and hold the security. To do this, Assuro holds an Australian Financial Services Licence (AFSL 527890).

Exclusive products

By partnering with banks, we're able to secure exclusive bank guarantee products available only through the Assuro platform, ensuring you get a great deal without the hassle.

Cash security & issuance

The applicant sends the cash security directly to the bank. The bank will assign the funds to your account and send you the account details as part of the finalisation process.  

The bank guarantee issued will be from the nominated bank and with the bank's logo on the guarantee. Assuro will not feature on the guarantee itself in any way.

The platform

Award-winning

Our award-winning digital application offers businesses and banks an alternative to traditional, often complex and time-consuming paper-based processes by providing a faster, more transparent and cost-effective solution.

Ongoing management

Creating an account is free and all users get unrestricted access to a suite of tools that streamline the ongoing management and administration of your financial securities.

Tighter control

Features like our custom alerts, custodian tracker and time-stamped communication panels all assist you in maintaining control of your financial securities.

The process

From application to return, we've got you covered.

Get in touch for a personalised walk through the platform.

Get in touch for a personalised

walk through the platform.

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1. Register & Apply

Create an Assuro account and follow the prompts to start your bank guarantee application.

Provide the details for the bank guarantee, including parties, value and purpose.

2. Payment & Verification

Complete payment of the establishment fees and the verification process.

Your relationship manager can assist if required.

3. Submit to the Bank

Assuro will submit the bank guarantee application to the bank on your behalf.

The bank will contact you to confirm receipt of the application and seek approval from the applicant.

4. Draft Bank Guarantee

The bank will email a draft bank guarantee for review and approval by the parties.

Once the draft has been approved, the bank requires the cash security.

5. Finalisation & Dispatch

Cash security: The applicant sends the cash security directly to the bank. Once received, the bank will assign the funds to your account and send you the account details as part of the finalisation process.

Physical document: With the funds transferred, the bank guarantee will be sent by registered post to the nominated delivery address.

Products that work for you.

Get more value than you put in.

Assuro's lowest cost bank guarantee product comes with a one-off $399 establishment fee and no ongoing fees, unlike traditional banks that charge ongoing fees up to 3% p.a. until the guarantee is returned.

Plus, with interest earned on your deposit, why settle for less?

Fees & rates

Save over the life of your guarantee with access to great rates and no hidden fees or charges*.

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Product type
Application fee
Ongoing fees
Min. Amount
Term period
Deposit interest rate
BNK Bank Guarantee
$399
$0
$15,000
N.A
1% variable interest earned*

A better way to get your bank guarantees.

What makes the BNK bank guarantee better?
5 mins
To apply
100%
Digital application
No
Ongoing fees
Personalised support
1%
Deposit interest rate*
$399
One-off establishment fee
0
Lengthy credit assessment
0
Property as security
0
Director's guarantees
Multi-award winning platform saving our customers time & money.
WA Innovator of the Year Awards 2022: Assuro named Growth Category WINNER
Incite Awards 2022: Assuro named Startup of the Year WINNER
Curtinnovation Awards 2022: Assuro named Business and Law WINNER
National iAwards 2022: Assuro named Startup of the Year FINALIST
WA Innovator of the Year Awards 2022: Assuro named Great for the State FINALIST
Incite Awards 2022: Assuro named Transformative Business Solution FINALIST

Frequently Asked Questions

What is a bank guarantee?

A bank guarantee is an unconditional and irrevocable undertaking issued by a bank to a beneficiary to pay an amount of money if requested to do so by the beneficiary. A bank guarantee is provided by the bank on behalf of the issuing party who has generally deposited an amount of money equivalent to the bank guarantee with the bank. Bank guarantees are used in a wide range of different circumstances but are commonly used to secure:

  • commercial leases;
  • commercial property transactions;
  • contractual performance in the construction industry including defect or maintenance periods; and
  • the purchase of large scale mining equipment.

Why are bank guarantees used?

Bank guarantees are a form of ‘security’ and provide the beneficiary with confidence that the issuer is capable of fulfilling its obligations and is an indicator of the issuer’s financial stability. From the issuer’s perspective, a bank guarantee demonstrates its willingness to perform its obligations whilst at the same time retaining its cash.

Are the bank guarantees issued through the Assuro platform only secured by cash?

Yes, all guarantees through Assuro are 100% cash secured (min. value: $15,000). This means that if you need a $100,000 bank guarantee you will need to deposit $100,000. The security is deposited directly with and held by the bank. Under the FCS, deposits up to $250,000 are protected by the Australian Government’s guarantee on deposits.

Don't want to tie down the cash?

Assuro can connect you with a specialist, business to business lender who may be able to finance your next bank guarantee. For more information on Bank Guarantee Finance, click here.

What is a beneficiary or favouree?

The beneficiary or favouree is the party who receives the bank guarantee and can 'call' on it if payment of the money is required or contractual obligations are not being performed.

What does it cost?

In addition to the security being deposited directly with the bank issuing the bank guarantee, Assuro will charge fees based on the bank guarantee product that is selected. Our lowest cost bank guarantee product has a one-off $399 establishment fee and no ongoing fees. Custom pricing may be offered to members of our channel partners or individual users of the Assuro platform depending on the size or volume of bank guarantees being applied for. There is no cost to set up an account with Assuro. Simply follow the prompts on our website to register as a user. Once registered, you can apply for a bank guarantee.

Do I need to complete any paperwork?

No. The application process is entirely digital. However, we may need some physical documents to be emailed in order to complete our AML/KYC checks on individuals associated with the application.

How do I receive my bank guarantee once it is finalised?

The bank guarantee will be sent by express post to the nominated delivery address. It can either be sent to the issuer or directly to the beneficiary.

How do I amend or cancel my bank guarantee?

Simply contact your relationship manager at Assuro and complete a form. Alternatively contact Assuro at info@assuro.com.au or call us on 1300 134 315.

How can I manage my bank guarantee once it is established?

In addition to Assuro’s competitive fees, bank guarantees established through the Assuro platform will automatically integrate with Assuro Cloud, our market leading management platform. Assuro Cloud will allow you to set reminders, track the custodian, generate reports and utilise cost calculators to ensure that your business has tighter control over its bank guarantees and streamlined administration processes.

Will the bank guarantee have an expiry date?

You can nominate whether the bank guarantee will have an expiry date. Generally, this is a matter dictated either by the applicable contract or the beneficiary. Even if the bank guarantee doesn’t have an expiry date on it, Assuro Cloud will allow you to set an expected return date so you can be reminded to follow up the beneficiary once the bank guarantee should have been returned.

Can I transfer my existing bank guarantees to the Assuro platform?

Yes. You can do this by creating a new bank guarantee and then using it to replace the existing bank guarantee but this will mean that for a short period of time you will have paid two security deposits.

Is the bank guarantee physical or digital?

The physical paper-based document will be sent via registered post to the nominated address. Only the application process is digital.

Who issues the bank guarantee?

The bank guarantee issued will be from the nominated bank and with the bank’s logo on the guarantee. Assuro will not feature on the guarantee itself in any way.

How long does it take?

Applications can be submitted online in minutes, and the bank guarantee can be finalised and dispatched within days.

Don't have the capital for the security?

Assuro can connect you with our specialist business-to-business lending partners who offer a range of financing options, including unsecured loans, secured loans and lines of credit.