Best business bank accounts in Australia for 2026

Key takeaways

• A business bank account is required for companies, partnerships, and trusts, as well as for obtaining a business loan. It helps separate personal and business finances and streamlines accounting.

• When choosing the best bank for a business account in Australia, pay attention to fees, international payment support, expense management tools, accounting integrations, and branch access.

• The Airwallex Global Account is an all-in-one account supporting multiple currencies, FX, corporate cards, payments, accounting integrations, and more.

With a massive 2.73 million¹ actively trading businesses in Australia and what sometimes feels like the same amount of banking and fintech options, choosing the best business bank account is anything but straightforward.

Whether you’re starting a new business or want the best business bank account for your growing venture, this guide is for you. We’ll explain everything you need to know about business banking in Australia, including the types of accounts that are available, what to look for, the fees and features on offer and how to compare them, so you can choose the right account for your needs.

What is a business bank account, and does your business need one?

A business bank account is a dedicated account held in your small business’ name and used to manage your business’ finances. Having a business account isn’t strictly required for sole traders, but it’s a legal necessity for companies, partnerships, and trusts. It also demonstrates professional credibility – a trust signal to customers and vendors.

A business bank account is also essential for growth; most Aussie banks won’t issue a business loan without a business account, and you’ll also need one to get a merchant account and start accepting credit and debit card payments.

Types of business accounts in Australia

There are a few different business account types available in Australia:

• Transaction accounts: Support day-to-day business finances with deposits, payments, and transfers. They have basic functionality and usually don’t earn interest.

• Savings accounts: Earn interest on business funds not needed for daily operations. They usually require transfers to a transaction account for payments and may have minimum balance conditions.

• Multi-currency accounts: A type of transaction account for businesses with international customers or suppliers. They allow you to hold, send, and receive foreign currencies alongside AUD.

• All-in-one business accounts: Combine transaction, savings, and multi-currency features in one account – often offered by fintech companies like Airwallex. They support day-to-day deposits and payments, offer business debit cards and expense management tools, allow you to hold, send, and receive multiple currencies, and earn yield.

The best small business bank accounts & alternatives in Australia for 2026

Let’s look at some of the best business bank accounts and fintech-powered business accounts in Australia today.

Airwallex Global Account

The Airwallex Global Account is an all-in-one business account designed for businesses with customers and vendors worldwide. It’s used by more than 200,000 Aussie businesses and recently won ‘Banking Tech of the Year’ at the 2025 Asia FinTech Awards².

The Airwallex Global Account offers local banking details in 21 currencies and offers unlimited fee-free payments to 120+ countries. You can also save up to 80% on FX rates since Airwallex charges no FX markups, and you can link your account to Airwallex Yield to earn returns on your funds. 

The Airwallex Global Account includes Corporate Cards for your employee and company spend, along with advanced Expense Management tools to help you take control of your finances. You also get a wide range of accounting integrations, support for batch payments, and a highly customisable API.

The Global Account costs A$29 per month, or A$0 if you deposit at least A$5,000 per month or hold a minimum balance of A$10,000.

Key features

• Multi-currency account supporting 21 currencies

• Unlimited fee-free payments to 120+ countries

• Earn returns with Airwallex Yield

• Expense Management tools

• Corporate Cards

• Accounting integrations and API

Fees

• A$29 per month or A$0 if you deposit at least A$5,000 per month or hold a minimum balance of A$10,000

• No fees for international payments

• No FX markup

ANZ Business Extra

ANZ Business Extra comes with unlimited fee-free electronic transfers and ATM transactions within Australia, a single business Visa debit card, and 20 cheque or staff-assisted transactions per month. You can also link an ANZ credit line to protect against overdrafts.

The Business Extra² account costs A$10 per month. For international payments, there’s a 3% fee per transfer, plus a variable markup on the foreign exchange (FX) rate.

Key features

• Unlimited domestic electronic transfers and ATM transactions

• 20 monthly cheques or in-person transactions

• Included business debit card

• Link an ANZ credit line for overdraft protection

Fees

• A$10 monthly account fee

• 3% fee plus FX markup for international transactions

Commonwealth Bank Business Transaction Account

Commonwealth Bank’s Business Transaction Account³ is free if you do all your banking online, or A$10 per month for five in-person transactions per month. In-person transactions over this limit cost A$5 each, and QuickCash deposits cost A$10 each. The account includes unlimited domestic transfers and ATM transactions, a single Visa debit card, and the option to link a Commonwealth Bank credit line or Business Online Saver account.

The Business Transaction Account is best-suited for domestic businesses. International payments incur a 3.5% transaction fee and FX markup. There’s also a A$2 fee for international ATM withdrawals.

Key features

• Unlimited electronic transfers

• Unlimited ATM transactions

• Business debit card

• Link a Commonwealth Bank credit line or Business Online Saver account

Fees

• No account fee for online-only banking

• A$10 per month for five monthly in-person transactions

• A$5 per additional in-person transaction and A$10 per additional QuickCash deposit

• 3.5% fee plus FX markup for international transactions

• A$2 fee for international ATM withdrawals

Macquarie Business Transaction Account

The Macquarie Business Transaction Account⁴ is designed for medium- and large-sized businesses. It has no monthly fee and includes unlimited domestic and international transfers and ATM withdrawals. There are no FX markups, which is a big advantage for businesses with vendors and customers abroad. However, the account requires a minimum balance of A$250,000.

The Business Transaction Account earns interest (contact Macquarie for rates) and stands out among traditional business bank accounts for supporting batch payments. It also includes advanced expense management tools and supports several accounting integrations. But the account doesn’t come with debit cards for you or your employees.

Key features

• Unlimited domestic and international transfers

• Funds earn interest

• Supports batch payments

• Expense management and accounting tools

Fees

• No account fee

• Fee-free international payments and ATM withdrawals

• No FX markup

• Requires a minimum A$250,000 balance

NAB Business Everyday Account

The NAB Business Everyday Account is a small-business-friendly transaction account with both online and in-person options. The online plan⁵ has no monthly fee and includes unlimited domestic transfers, ATM transactions, and mobile cheque deposits. You can also get a Visa debit card for yourself and any other signatories on your account. The in-person plan costs A$10 per month and includes everything in the online plan, plus 15 fee-free in-person transactions per month. For both plans, in-person transactions over your limit cost A$3 each. 

NAB charges a 3% foreign transaction fee and FX markup for international transactions. International ATM withdrawals cost A$4 each plus a 2% currency conversion fee.

Key features

• Unlimited domestic transfers

• Unlimited domestic ATM transactions

• Unlimited mobile cheque deposits

• Business debit card

Fees

• A$0 account fee for online-only banking

• A$10 per month for 15 monthly in-person transactions

• A$3 per additional in-person transaction

• 3% fee plus FX markup for international transactions

• A$4 plus 2% currency conversion fee for overseas ATM withdrawals

Westpac Business One

Westpac Business One offers⁶ unlimited domestic transfers and ATM transactions with no monthly fee. You also get business debit cards for you and your employees, and you can link a Westpac business savings account and overdraft line of credit. Westpac Business One also offers exclusive partner discounts on accounting software, legal services, cloud storage, and more.

In-person transactions cost A$3 each, or you can upgrade to Westpac Business One Plus for A$10 per month and receive five in-person transactions per month. International payments are free, but FX markups apply. International ATM withdrawals incur a 3% fee.

Key features

• Unlimited domestic transfers

• Unlimited domestic ATM transactions

• Business debit cards for you and your employees

• Link a Westpac business savings account

• Exclusive discounts on software and legal services

Fees

• A$0 account fee for online-only banking

• A$10 per month for five monthly in-person transactions

• A$3 per additional in-person transaction

• Fee-free international payments (FX markups apply)

• 3% fee for international ATM withdrawals

Wise Business

The Wise Business account is another all-in-one business account that supports 40+ currencies, local payment accounts in 10+ countries, and transfers to 50+ countries. Domestic payments in AUD are fee-free and unlimited, with fees starting at 0.32% for overseas transfers. International payments come with no FX markup, and you can earn returns on AUD and USD balances with Wise Interest (after a 0.72% annual fee).

Wise⁷ doesn’t charge an account fee, but you’ll pay a one-time A$22 fee for each account you open with local banking details. Your account includes one business Mastercard debit card, but employee cards cost A$6 each. The Wise Business account integrates with several popular accounting platforms and offers expense management tools. 

Key features

• Multi-currency account supporting 40+ currencies and 50+ countries

• Unlimited fee-free domestic AUD payments 

• Business debit cards available

• Expense management tools

• Accounting integrations

Fees

• No account fee, but a one-time A$65 fee for local banking details

• Fees from 0.32% for international payments

• No FX markup

• 0.72% annual fee for Wise Interest

• First debit card free; A$6 fee for each additional card

Top 7 small business accounts compared in Australia

Here’s how the best business bank accounts and alternatives in Australia stack up.

What to look for in a good business account?

When choosing the best business bank account in Australia, there are some key factors to consider.

Fees and costs

Account fees, transfer costs, and FX markups can eat into your business’ revenue, so you’ll want to choose an account that offers the lowest fees for the services you actually use. For example, do you need to make in-person transactions, or can you operate your account online? Many of the best financial platforms and banks for business accounts offer free accounts if you bank online only.

You should also carefully consider international transaction fees if your business has vendors or customers abroad. Many traditional banks charge international fees and FX markups, which can increase the cost of a payment by 6% or more. Fintechs like Airwallex let you send money to 120+ countries with no fees and no FX markups.

International capabilities

Many of the best business banking accounts are focused solely on the domestic Australian market and don’t cater to businesses with international customers and suppliers. If you do business overseas, it’s crucial to choose a business account that supports global payments.

Look for multi-currency accounts that provide local bank details for the countries where you operate. That way, you can send and receive money in those countries as if your business were physically there. You’ll eliminate FX conversions and get access to fast, fee-free local payment rails.

Integration and tools

The right financial tools can significantly improve your business’ efficiency. Corporate debit cards, for example, make it easy to purchase essential supplies and manage everyday expenses.

Many business accounts allow you to issue physical cards to employees and create virtual debit cards for online purchases – a handy feature for growing teams. Look for cards that include expense-approval workflows to maintain clear oversight and control over business spending.

It’s also important to consider which accounting platforms your business bank account integrates with. Connecting your bank account to your accounting software simplifies revenue tracking, payroll, and tax payments. The best business bank accounts integrate with Xero and support platforms such as QuickBooks, MYOB, Reckon, and Sage.

Access and support

The best bank for a business account is one that goes above and beyond your basic needs. Look for a smooth online banking experience and a well-designed mobile app to manage your finances on the go. If your business handles cash, it’s also important to choose a bank with ATMs or branches nearby.

Customer support is another key consideration. Most banks offer assistance via phone, live chat, and email, but availability can vary. Make sure support hours align with your business’ operating hours so help is available when you need it.

Banks vs fintechs: What's the difference?

You can open a business account in Australia with either a traditional bank or a fintech provider.

Banks are Authorised Deposit-taking Institutions (ADIs), which means your funds are guaranteed up to A$250,000 under the Financial Claims Scheme (FCS). They also typically have physical branches you can visit. However, banks tend to have higher fees and fewer features to help you run your business.

Fintechs like Airwallex aren’t banks and typically don’t have branches, but they offer online business accounts with lower fees and business-friendly features. Fintechs are fully regulated, but just in a different way than banks. For example, Airwallex holds an Australian Financial Services Licence, but it isn’t an ADI. Airwallex partners with ADIs to guarantee your funds under the FCS, so your money is still fully protected.

Why Australian businesses choose Airwallex

The best bank account for your small business depends on your unique needs. But if you have customers or vendors abroad, the Airwallex Global Account is a strong choice.

Airwallex offers like-for-like settlement in 20+ currencies, so you don’t have to worry about forced conversions. It also supports fee-free transfers to 120+ countries with no FX markups, enabling you to save up to 80% on FX fees compared to traditional banks. Plus, 95% of payments settle the same day.

Even better, Airwallex is an all-in-one business solution. It offers Corporate Cards, Expense Management, payment acceptance tools, invoicing, and a Yield account to earn returns on your balances.

More than 20o,000 businesses in Australia already use Airwallex. Open an account online in minutes without the hassle of paperwork or an in-branch visit.

Frequently asked questions

What is required to open a business bank account​?

Depending on your business type (sole trader, partnership, company, or trust), you typically must provide a personal ID, business registration documents, your business’ address and contact details, and basic information about your revenue sources.

Do I need a separate bank account for my business, or can I use a personal account?

If your business is classified as a partnership, company, or trust, you must have a separate business bank account. Sole traders aren’t required to have a business bank account, but it can be very helpful for separating your personal and business finances. It’s also essential if you want to get a business loan.

Do sole traders need a business bank account?

Sole traders aren’t required to have a business bank account. However, it’s highly recommended to simplify business accounting and tax compliance. You’ll also need a business bank account to get a business loan.

What's the difference between a business bank account and a fintech account?

Traditional business bank accounts are offered by Authorised Deposit-taking Institutions (ADIs) with deposits protected by the Financial Claims Scheme (FCS). Fintech accounts like Airwallex aren’t ADIs, but they offer similar transaction capabilities and additional features like multi-currency accounts and integrated expense management.

Can I have multiple business bank accounts?

Yes, many businesses use multiple accounts. You can use a traditional bank account for lending and deposits alongside a fintech account like Airwallex for your everyday transactions, international payments, and expense management. This approach can reduce costs and give your business more financial capabilities.

What fees should I look out for with business bank accounts?

Key fees to compare include monthly account fees, transaction fees, international transfer fees, FX markups, and debit card fees. Fintechs typically have lower fees than traditional banks, especially for international transactions.

Sources

1. https://www.abs.gov.au/statistics/economy/business-indicators/counts-australian-businesses-including-entries-and-exits/latest-release

2. https://www.airwallex.com/newsroom/airwallex-wins-hat-trick-at-2025-asia-fintech-awards

3. https://www.anz.com.au/business/accounts/transaction-accounts/business-essentials/

4. https://www.commbank.com.au/business/bank-accounts/business-transaction-account.html?ei=bhp_sixpack_business-transaction-account

5. https://www.macquarie.com.au/business-banking/business-accounts.html#get-started

6. https://www.nab.com.au/business/business-bank-accounts

7. https://www.westpac.com.au/business-banking/transaction-accounts/business-one/

8. https://wise.com/au/business/

The information in this article is based on our own online research. Airwallex was not able to manually test each tool or provider. The information is provided for educational purposes only and a reader should consider the specific requirements of their business when evaluating providers. This research is reviewed annually. If you would like to request an update, feel free to contact us at [[email protected]]. This information doesn’t take into account your objectives, financial situation, or needs. If you are a customer of Airwallex Pty Ltd (AFSL No. 487221) read the Product Disclosure Statement (PDS) for the Direct Services available here.

The Airwallex Yield Liquidity Fund (Yield) is issued by K2 Asset Management Limited (K2) (ABN 95 085 445 094, AFSL No 244393), a wholly owned subsidiary of K2 Asset Management Holdings Limited. This information doesn’t take into account your objectives, financial situation, or needs. Read the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for Yield, available at www.airwallex.com.au/terms from Airwallex Capital Pty Ltd (ABN 37 609 653 312, AFSL No. 549026). All investments carry risk. *Target returns are net of fees as at 19 February 2026 (AEDT) and indicate past 7-day annualised returns of the relevant underlying JPMorgan Liquidity Funds.