Best business foreign currency accounts in Australia

Key takeaways

• Airwallex, Commonwealth Bank, Westpac, NAB, Wise, and WorldFirst offer the top business foreign currency accounts in Australia. 

• When comparing foreign currency accounts, look for wide multi-currency support, local banking details in countries where your business operates, and multi-currency corporate cards with no international fees.

• Airwallex offers a foreign currency account that supports your business as it grows globally, with local banking details in 21 countries, payout capability to 200+ countries, and cost-savings with access to interbank rates for 90+ currencies.

Choosing the right business foreign currency account is key to streamlining your international payments and expanding your business’s global footprint. It makes it easier to pay suppliers and receive payments from customers, manage foreign exchange (FX) risk, and support your business as it grows beyond Australia. 

In this guide, we’ll review the six best business foreign currency accounts in Australia for 2026. This includes Airwallex’s Global Account, which is designed as an all-in-one financial money management platform incorporating multi-currency Corporate Cards, FX, the ability to accept payments from customers globally, Yield to earn returns in both AUD and USD, and local banking details in 21 currencies.

How does a business foreign currency account work?

A business foreign currency account is a type of account that lets businesses maintain balances in multiple currencies, such as AUD, USD, NZD, SGD, and more. You can also send and receive money in these currencies, making foreign currency accounts integral for businesses with international customers or suppliers.

The 6 best business foreign currency accounts in Australia

We analysed dozens of business foreign currency accounts to find our six top picks for Australian businesses in 2026. Let’s dive into the details so you can decide which one is best for your business.

1. Airwallex Global Account

The Airwallex Global Account is designed for Australian businesses of all sizes, from startup to enterprise. It’s a multi-currency account that lets you hold 20+ currencies in a single account and collect payments in 70+ currencies.

Even better, Airwallex offers local bank details for currencies like USD, SGD, NZD, EUR, GBP, and more, so you can pay and get paid like a local using in-country payment rails. That speeds up payments and reduces fees for international transfers. On top of that, transfers are completely free to 120+ countries.

And when you need to swap currencies, Airwallex gives you access to interbank FX rates. You can save up to 80% on FX fees compared to traditional banks.

The Airwallex Global Account also comes with free multi-currency corporate cards with no international transaction fees. You get access to powerful expense management tools and multi-currency accounting integrations for complete visibility into your business’s revenue and spending.

Airwallex starts at just A$29 per month, and waives this fee if you deposit at least A$5,000 per month or hold a minimum balance of A$10,000¹. It’s a flexible and cost-effective multi-currency account built to help your business grow.

2. Commbank Business Foreign Currency Account

The Commonwealth Bank Business Foreign Currency Account is a good option if your business only transacts in one or two currencies besides AUD. It supports around 18 currencies in all, but each Business Foreign Currency Account is limited to a single currency. You can send and receive 30+ currencies to 200+ countries worldwide.

If you prefer banking in person, CommBank has more than 700 branches across Australia, where you can exchange AUD for foreign currencies. The Commbank Business Foreign Currency Account has no monthly fee, no minimum balance, and lets you send money for free². However, there’s an A$11 fee for every transfer received.

3. Westpac Business Foreign Currency Account

Westpac’s Business Foreign Currency Account offers support for 15 major currencies and lets you hold one currency per account with no monthly fee and no minimum balance. You can open accounts for most currencies online, although you need to visit a Westpac branch to open a business bank account for SEK, CHF, or THB balances.

The unique thing about this account is that you can arrange an overdraft with low rates for any currency, which is useful for businesses with variable cash flow. Westpac also offers a prepaid multi-currency travel card that lets you spend in local currencies when travelling for business.

You can send and receive 30+ currencies to 200+ countries. Sending foreign currencies is free, but receiving funds incurs an A$12 fee per transaction³.

4. NAB Business Foreign Currency Account

NAB’s Business Foreign Currency Account offers a bit more flexibility than accounts from the other Big Four banks. You can open an account in 16 major currencies, and NAB supports sending and receiving 40+ currencies across 230+ countries. International transfers are typically completed within 24 hours, which is faster than average.

NAB doesn’t offer a multi-currency corporate card, but it provides business credit and debit cards with no international transaction fees.

There’s no monthly account fee and no minimum balance requirement for an NAB Business Foreign Currency Account. Sending international payments in currencies other than AUD is free, while receiving international payments costs A$15 per transaction⁴.

5. Wise Business Account

The Wise Business Account lets you hold, send, and receive 24 different currencies from a single multi-currency account. You get local bank details for each currency, but you will need to pay a A$65 fee to set this up⁵. Wise supports payments across 160+ countries.

The Wise Business Account includes a multi-currency debit card that supports 48 currencies with no international fees. You can get physical and virtual cards for your employees, and your account includes expense management software to help you monitor spending.

Fees for sending money with Wise start at 0.63%. There’s no fee to receive payments over local rails in AUD, USD, NZD, SGD, EUR, or GBP, and Wise doesn’t require a minimum balance.

6. WorldFirst World Account

The WorldFirst World Account is a suitable option for Australian businesses that sell on online marketplaces. It supports integrations with over 130 online marketplaces like Amazon, Etsy, and Temu. You can also make payments directly from a World Account to 1688.com, Alibaba’s B2B wholesale platform.

The World Account supports 15+ currencies and lets you send and receive 100+ currencies. It includes Mastercard debit cards for you and up to 25 employees, letting you spend in 150+ currencies with no international fees.

Setting up a WorldFirst World Account is free, and there’s no minimum balance required⁶. AUD payments within Australia are free, while fees to send other currencies start at 0.4% and are capped at A$15 per transfer.

The best foreign currency accounts in Australia at a glance

Here’s how the best foreign currency accounts for Australian businesses compare.

What features should you look for in a foreign currency account?

Here are key things to consider when choosing a business foreign currency account.

Multi-currency support

Some foreign currency accounts only let you hold balances in a single foreign currency. That might suffice if you only do business in one country outside Australia, but it can lead to payment delays and extra fees if your business expands. Accounts that let you hold balances in multiple currencies are more flexible and better suited for growth.

Local account details

Fintechs like Airwallex offer local banking details in countries like New Zealand, Singapore, the US, and the UK, and more. That’s a big deal, as you can use local payment rails like ACH in the US or BACS in the UK to send and receive money in those countries. Payments via local rails are faster than SWIFT payments and are often free, saving you money.

Multi-currency spend cards

Multi-currency debit cards make it easy to purchase supplies from international vendors, online and while travelling abroad. Look for cards that let you spend funds directly from your foreign currency account and waive international transaction fees. 

How does FX work with foreign currency accounts?

Converting currencies is relatively easy with a foreign currency account. If your account supports multiple currencies, you can instantly convert balances at any time. If your account only supports a single currency, you may have to transfer funds to another account when making an FX conversion. 

When receiving payments, funds are delivered in the original currency, so long as your account supports it. If it doesn’t, your bank will automatically convert it to AUD or another supported currency at the current exchange rate (which may incur fees).

Check whether your foreign currency account offers local banking details, allows you to hold multiple currencies, or offers FX through local payment rails, which will all allow you to reduce your foreign currency costs.

Fees to watch out for

Here are the types of fees you’ll pay when using a business foreign currency account.

• Monthly account fees are required to keep your foreign currency account open. Some providers waive the fee if you keep a minimum balance.

• International payment fees vary widely for sending and receiving money. They usually depend on what currency you’re using, what country you’re sending money to or receiving money from, and whether the payment is initiated online or at a bank branch.

• FX fees are charged whenever you convert currencies. Some providers offer FX conversion at the interbank rate, while others charge markups that vary by currency combination.

• Card fees: Some foreign currency account providers charge a fee for each spend card your business needs, while others offer free cards. Also, some cards charge international transaction fees of up to 3.5% per purchase.

How Airwallex’s Global Account lets you operate without borders

The Airwallex Global Account is a great solution for Australian businesses that handle foreign currencies. This multi-currency account enables you to hold balances in 20+ currencies, supports fee-free international transfers to 120+ countries, and gives you access to interbank FX rates to slash currency conversion fees.

Paying suppliers abroad is easy, thanks to automated bill pay and corporate cards that let you spend from any of your currency balances. Plus, expense management software helps you get real-time visibility into your business’s finances.

Getting paid is seamless, too. Airwallex integrates with major eCommerce platforms and supports hundreds of local payment methods at checkout. You can send invoices and payment links, set up recurring subscriptions, and settle funds in the same currency your customers pay in – eliminating FX fees.

Airwallex is trusted by more than 200,000 businesses worldwide. Open a Global Account today to operate your business without borders.

Frequently asked questions

Do I need a business foreign currency account?

A business foreign currency account isn’t required for any Australian business, but it’s worthwhile if your business needs to pay overseas suppliers or accept payments from international customers. This account lets you send and receive money without forced currency conversions or expensive international payment fees. 

Can I hold multiple currencies in a foreign currency account?

Foreign currency accounts like the Airwallex Global Account let you hold balances in dozens of currencies at once. (These are also known as multi-currency accounts.) However, many Australian banks only allow a single currency per account, so if you want to hold multiple currencies, you’ll need multiple accounts.

Are there risks to business foreign currency accounts?

Holding funds in a currency other than AUD exposes you to FX risk. For instance, the value of other currencies can fall relative to AUD, reducing the value of your balances. Business foreign currency accounts can also have fees for certain transactions and may not offer interest on your balances.

Sources

1. https://www.airwallex.com/au/pricing 

2. https://www.commbank.com.au/business/international-business-payments/foreign-currency-accounts.html 

3. https://www.westpac.com.au/business-banking/international-trade/international-payments/send-receive-money-overseas/ 

4. https://www.nab.com.au/business/business-bank-accounts/specialised-accounts/nab-foreign-currency-account 

5. https://wise.com/au/pricing/business 

6. https://www.worldfirst.com/u/pricing/

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 20 February 2026 (AEDT) and indicate past 7-day annualised returns of the relevant underlying JPMorgan Liquidity Funds.