CommBank business bank account review: Features, fees & more

A look at CommBank’s business bank accounts, fees and features for businesses based in Australia

Key takeaways

• CommBank offers two two types of transaction accounts: online-only and in-branch
• A Business Visa Debit Card is included with the business bank accounts at no additional cost. There’s usually a 3.5% foreign transaction fee on overseas card payments
• CommBank offers a separate foreign currency account supporting 18+ currencies, which requires an existing CommBank AUD transaction account
• WorldFirst is an international payments provider that can work alongside a CommBank account for businesses managing marketplace payouts, supplier payments and multi-currency operations

Commonwealth Bank of Australia (CommBank) is one of Australia’s largest banks and offers business banking to sole traders, companies and larger organisations.

In this review, we take an in-depth look into CommBank’s business bank accounts–its features, fees, and limitations. We also take a look at how WorldFirst can complement a business bank account for global operations.

What is the CommBank business bank account?

The CommBank business bank accounts domestic AUD accounts designed for everyday transactions such as receiving payments, paying suppliers and managing local expenses.¹ It’s the entry-level business banking product in CommBank’s business account lineup.³

The account has two pricing options that businesses can switch between at any time via NetBank or the CommBank app.¹

• The online option is designed for businesses that bank digitally
• The in-branch option includes assisted transaction allowances for businesses that regularly visit a branch or Australia Post.¹

The Business Transaction Accounts come with a Business Visa Debit Card at no additional cost and can be used online or in-store–anywhere Visa is accepted.¹

Types of business accounts by CommBank

CommBank offers several business account types³

Business Transaction Account

This is the main everyday business account which is suitable for sole traders, companies and partnerships that need standard transaction banking.¹

Business Investment Account

An account designed for businesses that want to earn interest on surplus funds while retaining access to those funds.³

Business online saver

A savings-focused account for businesses looking to earn interest on operating funds.³

CommBank foreign currency account

The CommBank foreign currency account allows businesses to support 18+ currencies including USD, GBP, EUR, CAD, HKD, JPY and NZD.² Businesses can send, receive and hold funds in foreign currencies, and make payments directly from foreign currency balances without converting to AUD first.²

The account is accessible via CommBank’s mobile app and website.²

You need a CommBank AUD transaction account before being able to open a foreign transaction account with the bank. There is no card linked to the foreign currency account and no monthly account fee, but fees apply for sending and receiving payments.²

→ Take a look at the full list of the top foreign currency accounts in Australia

Pros and cons of CommBank business accounts

CommBank business account fees

Here’s a breakdown of the CommBank’s Business Transaction Account fees

Fees checked in July 2026

How to open a CommBank business account

1. Check eligibility: Sole traders, Australian private companies (Pty Ltd), self-managed super funds and partnerships of up to four individual partners can apply online.⁴ More complex structures and foreign entities may need to apply in a branch.⁴
2. Gather documents: An ABN, ACN (if applicable) and other important identification documents of owner or directors are required.⁴
3. Apply online or in-branch: Applications can be started online or in-person at a CommBank branch⁴
4. Set up online banking: Once the account is opened, businesses can access it through NetBank, the CommBank app or by visiting a branch.¹

WorldFirst is built for global businesses

WorldFirst is an international payments provider that can work alongside existing business accounts like CommBank to support the global operations of fast-growing businesses.

Businesses can use the multi-currency World Account to receive marketplace payouts in foreign currencies, hold foreign currency balances, pay overseas suppliers in their local currency, and convert between currencies when it suits them.

In practice, most Australian businesses that use WorldFirst link their domestic bank account to their World Account.

The World Account is a business multi-currency account that lets businesses hold, send, receive and convert funds in 20+ currencies including AUD, USD, GBP, EUR, NZD, SGD, JPY, HKD, CAD and CNH.

Businesses can send payments in 100+ currencies across 200+ countries and regions, and collect payments from 130+ marketplaces and payment gateways including Amazon, AliExpress and Stripe.

Multi-currency card

The World Card is a Mastercard-powered business payment card linked to the World Account. It supports payments in 150+ currencies wherever Mastercard is accepted, with zero foreign exchange fees on 15 supported currencies when spending from an existing balance. Businesses can issue up to 20 cards at no additional cost, and cashback is available on eligible spending (Terms and Conditions Apply).

International payments and FX

WorldFirst supports payments in 100+ currencies at competitive conversion rates. Forward contracts and firm orders are available for Australian businesses that want to lock in an exchange rate for a future payment, subject to eligibility.

Payments to China

The World Account includes a CNH local currency account for holding and converting offshore Chinese yuan. World Pay is the authorised international payment provider for 1688.com, allowing businesses to pay 1688 suppliers in CNH directly from the World Account without a Chinese bank account.

Marketplace and payment gateway integration

The World Account helps connect to 130+ marketplaces and payment gateways, including Amazon, AliExpress and Stripe. Businesses can add local currency account details directly to marketplace payout settings and receive funds in the original currency.

FAQs

Does the CommBank Business Transaction Account have a monthly fee?

The account has two pricing options. The online option has an AU$0 monthly account fee, while the in-branch option is AU$10 per month and includes an assisted transaction allowance.¹

What documents are required to open a CommBank business account?

Businesses need an ABN, an ACN if applicable, identification documents and director or beneficial owner details for company applications.⁴

How does CommBank support international payments?

CommBank offers international transfers via NetBank and Business Online Banking. Businesses that regularly hold or transact in foreign currencies can open a separate CommBank foreign currency account. Some businesses also use a payments provider such as WorldFirst alongside their CommBank account to receive marketplace payouts and pay international suppliers in local currency.

The information contained is general only and largely our views. Before acting on the information you should consider whether it is appropriate for you, in light of your objectives, financial situation or needs. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions, estimates, mentioned products/services and referenced material constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. WorldFirst shall not be responsible for any losses or damages arising from your reliance of such information.

Sources

1. https://www.commbank.com.au/business/bank-accounts/business-transaction-account.html
2. https://www.commbank.com.au/business/international/international-payments/foreign-currency-accounts.html
3. https://www.commbank.com.au/business/bank-accounts.html
4. https://www.commbank.com.au/business/help/business-account-application-guide.html
5. https://www.commbank.com.au/business/bank-accounts/business-transaction-account/rates-and-fees.html