Best Business Foreign Currency Accounts in New Zealand

Key takeaways

• Airwallex, ASB, Kiwibank, Westpac New Zealand, Wise, WorldFirst, and XE offer the top business foreign currency accounts in New Zealand.

• 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 New Zealand.

With over 744,000 registered businesses in New Zealand as of late 2025¹, the demand for efficient global financial tools for businesses is higher than ever. In this guide, we’ll review the seven best business foreign currency accounts in New Zealand 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, 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 NZD, USD, AUD, 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 7 best business foreign currency accounts in New Zealand

We analysed several providers to find our top picks for New Zealand 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 New Zealand 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.

Airwallex offers local bank details for currencies like USD, AUD, SGD, EUR, GBP, and more, so you can pay and get paid like a local. This speeds up payments and reduces fees for international transfers. On top of that, transfers are free to 120+ countries.

When you need to swap currencies, Airwallex gives you access to interbank FX rates, helping you save significantly 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 – including Xero, the New Zealand-founded platform – for complete visibility into your business’s revenue and spending. Airwallex offers an Explore tier with NZ$0 setup and monthly fees, making it a flexible and cost-effective solution built to help your business grow.

2. ASB Foreign Currency Account

The ASB Foreign Currency Account is a traditional option for businesses that transact in specific currencies besides NZD. While ASB supports multiple currencies, each account is limited to a single foreign currency.

There are NZ$0 setup or monthly fees for this account. However, these accounts rely on the SWIFT network, which typically results in slower speeds (1–3 days) and potential correspondent bank fees. ASB does not currently offer local payment rails or multi-currency cards for this account type.

3. Kiwibank Foreign Currency Account

Kiwibank provides a foreign currency account for businesses looking to manage international trade. Like other local banks, this is not a multi-currency account; you must open a separate account for each currency you wish to hold.

While there are no setup or monthly fees, Kiwibank charges an NZ$12 inward payment fee and an NZ$20–25 outward payment fee plus a margin on FX rates. Payments are processed via SWIFT, taking between 1–3 days to arrive. Kiwibank does not offer local banking details for foreign countries or multi-currency corporate cards.

4. Westpac New Zealand Foreign Currency Account

Westpac New Zealand offers support for major currencies, allowing you to hold one currency per account. There are no setup or monthly fees for these accounts.

While Westpac provides a reliable platform for international banking, it relies on the SWIFT network, with speeds ranging from 1–5 days. Fees for sending and receiving range from NZ$5 to NZ$30 per transaction, plus correspondent bank fees and FX margins. Local payment rails and multi-currency cards are not available for this specific account.

5. Wise Business Account

The Wise Business Account lets you set up local banking details for 24 different currencies plus receive an additional 20 currencies from a single multi-currency account. While you can obtain local bank details to get paid like a local, there is a one-time NZ$40 setup fee.

Wise offers a multi-currency debit card that lets you spend in held currencies and in other currencies at the mid-market rate. Through the Business Account, you can also manage employee spending with physical and virtual cards and integrate with expense management software. FX fees start from 0.25%, and Wise utilises local rails for faster, cheaper transfers.

6. WorldFirst World Account

The WorldFirst World Account is another contender for New Zealand businesses, including those selling on global marketplaces like Amazon, Etsy, and Temu. It supports 20+ currencies with local banking details and allows for payments to over 200 countries.

There is NZ$0 setup and monthly fees. The account includes up to 20 Mastercard debit cards for your team, allowing spending in your held currencies. You can also earn up to 1% cashback each month. With the account, FX rates are competitive, ranging from 0.4% – 0.6%.

7. XE Business Account

XE offers a straightforward business account for international transfers and currency management with NZ$0 setup and monthly fees. You can hold and send 20+ currencies, though it does not currently provide local banking details or multi-currency cards. XE offers fast transfers, with some arriving within minutes.

The best foreign currency accounts in New Zealand at a glance

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

Consider these key factors when choosing a provider:

• Multi-currency support: Traditional banks often require separate accounts for each currency, which can cause delays. Accounts that let you hold multiple balances in one place can be better for growth.

• Local account details: Providers like Airwallex and Wise offer local banking details in countries like the US, UK, and Australia. This allows you to use local payment rails (like ACH in the US), which are faster and often free.

• Multi-currency spend cards: These make it easy to pay international vendors or manage travel expenses without incurring 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 NZD 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

• Monthly account fees: Some providers charge a fee to keep the account open.

• International payment fees: These vary based on the currency, destination, and whether you use SWIFT or local rails.

• FX fees: Charged when you convert currencies; look for providers offering rates close to the interbank rate.

• Card fees: Watch for international transaction fees (which can be up to 3.5% at some institutions) or fees for each physical card issued.

How Airwallex’s Global Account lets you operate without borders

The Airwallex Global Account is a powerful solution for New Zealand businesses handling foreign currencies. You can hold balances in 20+ currencies, access fee-free international transfers to 120+ countries, and give you access to interbank FX rates to reduce conversion costs.

Paying suppliers is simple with automated bill pay and corporate cards that spend directly from your currency balances. Plus, our integration with Xero and built-in expense management software provides real-time visibility into your finances.

Getting paid is seamless, too. Airwallex integrates with major eCommerce platforms and supports hundreds of local payment methods. You can send invoices and payment links to settle funds in the same currency your customers pay in – eliminating unnecessary FX fees. Open a Global Account today to operate your business without borders.

Frequently asked questions

Are there different types of business foreign currency accounts in New Zealand?

Yes. Business foreign currency accounts offered by banks tend to only let you hold a single currency, whereas foreign currency accounts offered by fintech platforms like Airwallex let you hold multiple currencies. 

How do I get paid by US or UK clients? 

Using a provider like Airwallex allows you to provide local bank details (e.g., a US routing number), making it free or much cheaper for your clients to pay you compared to a traditional international wire.

Are there risks to business foreign currency accounts?

Holding funds in a currency other than NZD exposes you to FX risk. For instance, the value of other currencies can fall relative to NZD, 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.

Can I hold multiple currencies in a single account? 

Providers like Airwallex and Wise let you hold dozens of currencies in one place. However, major New Zealand banks typically only allow one currency per account, meaning you would need multiple accounts to hold multiple currencies.

Sources

1. https://www.companiesoffice.govt.nz/insights-and-articles/latest-company-statistics/ 

2. https://www.asb.co.nz/international-business/foreign-currency-account-and-overdraft.html 

3. https://www.kiwibank.co.nz/business-banking/international-business/foreign-exchange/foreign-currency-accounts 

4. https://www.westpac.co.nz/foreign-exchange/foreign-currency-account/ 

5. https://www.worldfirst.com/nz/product/collect 

6. https://wise.com/nz/pricing/business

7. https://www.xe.com/en-nz/business/multi-currency-accounts/

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]]. Airwallex (New Zealand) Limited is registered with the New Zealand Financial Service Provider Register (FSP No. 1001602) to provide a range of financial services in New Zealand.