The Best International Bank Accounts in Australia for 2025

Expanding a business beyond Australia can unlock growth in new markets, but it also brings financial challenges that must be tackled head-on.

For companies aiming to trade or operate overseas, selecting the right international business bank account can directly affect efficiency, profitability, and cash flow. The right choice makes it easier to manage multiple currencies, control exchange rate costs, and send or receive cross-border payments quickly. The wrong choice can slow transactions, increase costs, and limit flexibility.

In Australia, options range from long-established banks to newer fintech providers. Each has advantages and drawbacks, and the decision will influence how effectively a business operates in foreign markets, protects margins from currency swings, and keeps global finances running smoothly.

In this article, we will:

• Explore the best international business bank account options in Australia for 2025

• Compare offerings from the Big Four banks with modern fintechs such as Airwallex

• Help you choose the most suitable setup for your international business banking needs

What is an international business bank account?

An international business bank account is a dedicated account that helps companies manage finances across borders. It separates personal and business funds while providing tools to send, receive, and hold multiple currencies. These accounts are built for handling overseas payments, reducing foreign exchange costs, and streamlining global cash flow.

Just like regular business bank accounts, they make financial administration and accounting easier by separating your personal finances from your business finances. International business bank accounts also go beyond the basic functionalities of a standard business account, offering features that facilitate efficient and cost-effective management of global transactions.

Features to look for in an international business bank account

There are a few features to look for in a global business account, including streamlined FX, multi-currency capabilities, global accessibility, customisable options, and security.

Seamless cross-border transactions

An international business banking account makes it easier to send and receive money overseas without the high fees and delays common with traditional accounts. Designed for global commerce, these accounts cut costs, speed up transfers, and support multiple currencies. Competitive exchange rates mean payments arrive faster and savings add up over time.

Multi-currency management

An international business bank account with multi-currency management lets businesses hold, transfer, and convert multiple currencies in a single place. This helps cut costs from repeated conversions, make the most of favourable exchange rates, and keep finances organised. It also streamlines bookkeeping and makes it easier to track cash flow and performance across global markets.

Global accessibility and control

International business banking accounts frequently come with advanced online and mobile banking platforms, providing business owners with real-time access to their finances from anywhere in the world. 

Global accessibility allows you to manage your financial operations around the clock, regardless of the time zone, enabling quicker decision-making and optimal control over your international funds.

Customisable solutions

Many providers of international business banking accounts offer customisable solutions to meet the specific needs of different industries and business models. 

For example, some accounts are built to handle payroll across multiple countries, while others cater to e-commerce businesses with global customers. These can be tailored to provide the exact tools and services needed.

Features might include specialised support teams, dedicated account managers, and integration with accounting software to streamline financial operations.

Enhanced security and compliance

Conducting business internationally means adhering to a wide range of compliance obligations, from anti-money laundering (AML) rules and know your customer (KYC) checks to sanctions screening and tax reporting requirements. Many international business bank accounts include built-in compliance support, helping businesses stay aligned with global financial regulations.

These accounts may also provide advanced security features, such as multi-factor authentication, encryption, and real-time fraud monitoring, reducing the risk of cross-border payment fraud and protecting the integrity of global transactions.

Competitive advantages

Transacting in the local currency of overseas customers helps build trust and positions your products or services ahead of competitors that cannot offer this convenience. It also streamlines payment processes, making it easier for customers to buy from you.

Managing international finances efficiently strengthens supplier relationships, supports smoother contract negotiations, and improves cash flow — all of which are essential for expanding into global markets.

What’s the difference between an international business bank account and other global business accounts?

International business bank accounts are offered by institutions that hold a full banking licence, meaning they meet strict regulatory standards for capital requirements, deposit protection, and compliance with laws such as anti-money laundering (AML) and counter-terrorism financing (CTF).

Fully regulated financial service providers (fintechs) without a banking licence can also provide international or global business accounts. These operate under financial services or payment institution licences, which require compliance with similar security, privacy, and transaction monitoring regulations, but do not include banking-specific protections like deposit guarantees.

Many fintechs choose not to operate as traditional banks yet remain highly secure and regulated. For example, Airwallex offers an international business account under robust financial services licences, delivering features such as payment collection, treasury and cash flow management, international money transfers, local and cross-border payouts, invoicing, expense tracking, and issuing multi-currency payment cards.

Top 5 international business account providers in Australia

Australia’s “Big Four” banks, Commonwealth Bank, ANZ, Westpac and NAB, remain a common choice for many Australian businesses. Their established presence, knowledge of the local market, and branch networks offer the reassurance of a regulated institution and the option of face-to-face support.

They provide multi-currency accounts, global payment solutions, and advisory services, but these often come with higher fees and slower processes than newer providers. 

As business moves faster and more globally, speed, flexibility, and cost efficiency are increasingly valued. Below, we compare the” Big Four’s” 2025 international business bank account options with Airwallex to help you decide which is best for your international growth plans.

Commonwealth Bank Foreign Currency Account

Commonwealth Bank, the largest of Australia's Big Four banks with around 17 million customers, offers international banking services through its own network as well as Bankwest and Colonial First State. The Business Foreign Currency Account is designed for companies that make, receive, and convert regular payments in foreign currencies.

Fees

• Up to $30.00 per transaction for International Transfers Sent, in-branch (online transfers have no fee)

• Up to $11.00 per transaction for International Transfers Received

• $0 Monthly Account Fees

• Commonwealth Bank also waives the correspondent bank fee

Features and benefits

• Access to most major global currencies that are freely traded, such as USD, EUR, GBP, JPY, and more via CommBiz, the CommBiz mobile app, NetBank, or the CommBank app

• Hold foreign currency to manage exchange rate risk and convert when it suits your business

• Potential to earn competitive interest on selected currencies, depending on currency type and balance tier

Limitations

• Certain currencies have eligibility restrictions

• Low or negative interest rate currencies may attract a Credit Deposit Fee for wholesale clients

National Australia Bank Foreign Currency Account

NAB has around 8.5 million business and retail customers, with services also provided by online-only UBank and Bank of New Zealand. It offers a Foreign Currency Account for customers who frequently make or receive payments in a foreign currency.

Fees

• $0 for international transfers sent with currency conversion via NAB Connect

• $20 for transfers sent in AUD or from a NAB Foreign Currency Account in the same currency via NAB Connect

• $0 to $35 per transaction for incoming international transfers

• $0 monthly account fee

Features and benefits

• Access to 16 major global currencies, including USD, EUR, GBP, JPY, NZD, CAD, SGD and HKD

• Flexibility to convert funds at a time that suits you

Limitations

• Interest only applies if the account balance exceeds USD $5,000

ANZ FX Online

ANZ FX Online is a digital platform from one of Australia’s largest and most established banks, built for businesses handling frequent overseas payments and managing currency risk. It offers security that comes with a major bank, while giving access to over 270 currency pairs, global FX specialists, and tools like role-based approvals.

Fees

• $0 establishment and maintenance fees 

• Transaction fees and foreign currency account fees may apply. An ANZ representative can provide more information.

Features and benefits

• Initiate international payments

• Request full hedging functionality to actively manage FX exposure

• Manage FX contracts in over 270 currency pairs

• Online platform with dedicated help desk.

• Built-in role-based controls for added security

Limitations

• Limited to businesses that send or receive a combined total of $250,000 (AUD equivalent) or more in foreign currency each year.

Westpac Bank Foreign Currency Account

Westpac manages a portfolio of financial brands including St George Bank, Bank of Melbourne, BankSA and BT which, as a group, services 12.7 million customers.

The bank’s Business Foreign Currency Account is designed for businesses making or receiving regular international payments, offering flexibility to choose when to convert funds into AUD.

Fees

• $20 for Outward Telegraphic Transfers in a foreign currency (via Corporate Online)

• $20 for Outward Telegraphic Transfers in Australian dollars (via Westpac Online Banking)

• $32 for Outward Telegraphic Transfers in Australian dollars or foreign currency (via branch/over-the-counter)

• $12 for all Inward Telegraphic Transfers in Australian dollars or foreign currency

• $0 Monthly Account Fees

• A deposit maintenance fee may be applied

Features

• Choose when your foreign currency is converted into AUD

• Access the Foreign Currency Account alongside other accounts in Westpac Online Banking

• Open online for 12 foreign currencies: USD, GBP, JPY, ZAR, EUR, NOK, CAD, DKK, SGD, NZE, CNY, HKD

• Overdrafts available on application for eligible currencies

Limitations

• Bank or personal applications may be required for foreign currencies other than those listed above

• Other currencies (e.g., SEK, CHF, THB) require in-branch application

• Very low or no credit interest rates.

Fintech options

Traditional banks might be the old go-to for international business accounts, but fintech providers have shaken up the space. They’re built for the digital age — running entirely online, cutting the red tape, and getting businesses up and running faster. With fewer overheads, they can pass savings on through lower fees, sharper FX rates, and slick platforms that integrate seamlessly with everyday business tools. For startups, eCommerce retailers, and SMEs, that means speed, transparency, and a customer experience that feels modern.

Airwallex Global Business Account

If your business has outgrown the limitations of a traditional bank account, the Airwallex Global Business Account offers a flexible, modern alternative built for international growth. Unlike many banks that tie you to branch visits, long waits, and higher FX costs, Airwallex lets you set up and operate everything online in minutes.

Fees

• Transparent bundle pricing from $29/month, or $0/month if your business deposits at least $5,000 per month or holds a balance of $10,000, which qualifies you for the fee waiver.

• Low FX margins of just 0.3%–0.6% when converting between currencies.

• Transfers to 120+ countries leveraging local payment rails, with over 90% of our transactions avoiding Swift.

Features and benefits

• Open and manage multi-currency business accounts in 60+ currencies, sending, holding, and receiving funds without double conversions.

• Earn competitive returns on balances without locking your funds away.

• Instantly issue virtual debit cards or order physical cards for your team – no branch required.

• Streamline expenses and admin with intuitive tools your team will actually enjoy using.

• Integrates directly with Xero, QuickBooks, and other leading accounting platforms for real-time financial syncing.

Once your business is verified, your account is ready to use right away – so you can start operating globally without the delays or red tape of a traditional bank.

Fees, features and benefits are current at the time of writing

Comparison table: Big Four Banks vs Airwallex

Why open an Airwallex Global Business Account?

If your business operates across borders, Airwallex outperforms traditional banks and other providers with powerful features that make global expansion quicker, smoother, and more cost‑efficient. Here’s why we're different:

• Like‑for‑like settlement in 14+ currencies: Receive payments in the same currency your customers pay in, avoiding double conversions and hidden FX fees.

• Multi‑currency capability: Hold, transfer, and convert funds at competitive exchange rates, saving up to 80% on FX costs compared to many banks.

• Speed: Send money to over 200 countries, with most payments arriving the same day or instantly via local payment rails.

• Ease of use: Manage everything online or via mobile, with real‑time access, strong security, and clear reporting.

• Integration: Connect seamlessly with accounting, ERP, and other business systems to reduce manual work and errors.

• Scalability: Built to suit every stage of growth, from startup to enterprise.

• Smart expense management: Issue physical and virtual cards, manage spend, and earn returns on multi‑currency balances.

• Startup perks: Enjoy fee discounts and dedicated support through Airwallex for Startups.

Airwallex is built to help you cut costs, streamline operations, and compete globally with the efficiency and flexibility banks often can’t match. Get started now by opening a Global Account.

International business bank account: frequently asked questions

What are the top international business accounts in Australia?

The top international bank accounts in Australia include those offered by the Big Four banks – Commonwealth Bank, ANZ, Westpac, and NAB – as well as other Australian and international banks. Fintech alternatives like Airwallex also offer international accounts with custom-made features for doing business globally.

How quickly can I open an international business account?

The time to open an international business account varies; traditional banks may take several days to weeks, while fintech solutions like Airwallex can often get you set up in a matter of hours.

Will opening an international business account make transactions faster/easier?

An international business account can simplify and speed up transactions, especially those designed for cross-border payments with lower fees and quicker processing times.

What are the benefits of an international business bank account?

They allow businesses to handle global operations with ease. Benefits include:

• Multi-currency support: Hold and use multiple currencies without constant conversions, saving fees.

• Faster, cheaper payments: Speed up cross-border transactions and reduce costs.

• Global access: Manage funds from anywhere, anytime.

• Security and compliance: Advanced fraud protection and international regulation support.

• Better relationships: Pay in local currencies to build trust.

• Flexible limits: Higher transaction caps and services that scale with your needs.

What are the disadvantages of an international business bank account?

International business bank accounts can be useful, but they also have drawbacks to keep in mind:

• Higher fees: May include monthly maintenance, transaction, and currency conversion charges.

• Complex setup: Often needs more documentation and time to open than a standard business account.

• Foreign exchange risk: Currency fluctuations can still impact your funds.

• Regulatory challenges: Compliance with multiple countries’ rules can be time-consuming.

• Limited local presence: Some providers lack branches in certain regions, which may limit in-person support.

What Australian‑based banks handle multiple currency accounts?

Major banks like NAB, ANZ, Commonwealth Bank, and Westpac offer multi‑currency accounts in Australia. However, these often have limited currency options, higher FX fees, and slower transfers compared to fintech alternatives like Airwallex.

What is the best foreign currency account in Australia?

The best foreign currency account in Australia depends on your business needs. Banks provide stability and in‑branch service, but Airwallex offers broader currency coverage, lower FX costs, faster payments, and like‑for‑like settlement – making it a strong choice for businesses with frequent international transactions.

Disclaimer: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.