Top picks for the best small business bank account in Australia 2025
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Looking for the best small business bank accounts in Australia? Compare top options to find the right fit for your business and streamline your financial management.
Key takeaways
Small business bank accounts help separate personal and business finances for tax compliance and credibility
Multi-currency support can help businesses save on conversion fees and simplify international transactions
Westpac, NAB, ANZ and CommBank offer everyday business transaction accounts, with Zero or low monthly fees and business debit cards
These everyday accounts are primarily designed for AUD banking, rather than holding and managing multiple foreign currencies
WorldFirst’s World Account can work with an existing AUD business bank account, allowing businesses to receive, hold, convert and send funds in 20+ currencies
Choosing a small business bank account can help keep everyday finances organised while controlling banking costs. The suitable option depends on how often a business makes transactions, whether it needs branch services, and what card or accounting features are required. Businesses that deal with overseas customers or suppliers may also need a multi-currency account alongside their regular AUD account for receiving, holding and sending foreign currency.
This guide compares the key features and fees of the small business accounts available in Australia, including how WorldFirst can support international transactions.
A small business bank account is specifically designed to help small business owners manage their income, expenses and transactions separately from their personal finances to ensure tax compliance and improve professional credibility.
These small business accounts have features and fees tailored to the needs of fast-growing businesses that may not have significant capital reserves. They often include low or no monthly fees, transaction limits that accommodate growing businesses and integrations with accounting software.
Features to look for in a small business bank account in Australia
If you’re looking for a small business account in Australia, compare business bank accounts based on the features below.
Account setup and maintenance fees
Some banks and payment providers will charge a one-time fee for opening a new account and a monthly fee for using the account.
Pro tip: Look for a small business account that has no or low monthly maintenance fees.
Transaction fees
Transaction fees are important to consider if your business has overseas partners and you plan to send and receive international payments.
Pro tip: Look for business bank accounts that have low or no fees for sending and receiving international payments. Foreign exchange rates should also be competitive and most importantly, transparent.
Fast and reliable transfers
A small business bank account should support same-day and instant transfers, even for international payments. Timely payments can help you maintain strong relationships with partners and vendors, reducing the risk of any supply chain disruptions.
Multi-currency support
If you often make payments in multiple currencies, consider getting a multi-currency or foreign currency account for your business. With a multi-currency account, you can send, hold and receive funds in multiple currencies while avoiding unnecessary conversion fees.
Compliance and security
The business bank account provider should comply with all the necessary regional regulations. They should also offer strong fraud protection measures for domestic and cross-border transactions. At the bare minimum, your account should have a two factor authentication (2FA) and encryption for secure payments.
Business cards
Globally accepted business cards help small businesses manage their subscription payments, team expenses and travel costs seamlessly. Look for a business account that offers separate cards for company and employees. Virtual and physical cards for team members should also come with spending limits, real-time tracking and integrate expense management tools for easy reconciliation.
Top small business bank accounts in Australia
Westpac
Westpac Business One is an everyday transaction account for small businesses that mainly manage their banking online, through mobile banking or in branch.1 It provides unlimited electronic transactions and a business debit card for everyday business spending and ATM withdrawals.1
The account does not pay interest and is not designed for holding multiple currencies. Plus, staff-assisted transactions, cheques and some overseas card transactions incur additional fees.1
→ Here’s a complete Westpac business bank account review
Fee type
Westpac Business One Account fees
Monthly account fee
Zero
Electronic transactions
Unlimited
Staff-assisted transactions
AU$3 each
Business card
Available
Overseas ATM withdrawal
AU$5
Global ATM Alliance withdrawals
Some withdrawals exempt
*Fees checked in August 2026
NAB (National Australia Bank)
NAB Business Everyday is a transaction account aimed at businesses that conduct most banking electronically.2 It has no monthly account fee and includes unlimited standard NAB electronic and NAB ATM transactions.2
Businesses can connect their transaction data to accounting software and receive a NAB Business VISA Debit Card for online, in-store, over-the-phone and overseas purchases.2 Banker-assisted transactions, cheques and certain international services may incur additional charges.2
ANZ (Australia and New Zealand Banking Group Limited)
ANZ Business Essentials is a business transaction account with no monthly account service fee.3 It includes unlimited ANZ electronic and ATM transactions and an ANZ Business VISA Debit Card at no additional cost.3
The card can be used for business purchases online, in-store, over the phone and overseas, including contactless payments through compatible devices.3 Businesses can also link eligible accounting software and use PayID to receive payments.3
Fee type
ANZ Business Essentials fees
Monthly account service fee
AU$0
ANZ electronic and ATM transactions
Unlimited
Staff-assisted transactions
AU$2.50 each
Cheque transactions
AU$2.50 each
Business Card
Available
*Fees checked in August 2026
CommBank
CommBank Business Transaction Account is designed for businesses that want everyday transaction banking with the option to manage their account online or in branch.4 The online option has no monthly fee, while the branch option includes five assisted transactions each month.4
Both options provide access to a Business VISA Debit Card for online and in-store purchases.4 The account also supports accounting software syncing and can be linked to a business overdraft.4
→ Here’s a complete Commbank business bank account review
Fee type
CommBank Business Transaction Account fees
Monthly fee (online option)
AU$0
Monthly fee (branch option)
AU$10
Assisted transactions (online option)
AU$5 each
Assisted transactions (branch option)
5 included per month
QuickCash deposits
AU$10 each
Business Card
Available
*Fees checked in August 2026
Alternative to small business bank accounts in Australia: WorldFirst
WorldFirst can work alongside an existing AUD business bank account, giving Australian businesses a way to handle international payments and foreign currency without replacing their primary bank. Its World Account is a multi-currency account that allows businesses to receive, hold, convert and send funds in 20+ currencies, including USD, GBP, EUR, AUD, CAD, NZD and CNH.
Businesses can continue using their Australian bank account for domestic AUD expenses, payroll, bills and other everyday banking, while using WorldFirst for international collections and payments. For example, an e-commerce business can receive USD marketplace payments into its World Account, hold the funds in USD, convert them when needed and transfer AUD to its existing business bank account. Similarly, it can fund its World Account from its AUD bank account and use the balance to pay overseas suppliers.
WorldFirst also offers the World Card, a multi-currency card that supports payments in 150+ currencies. Businesses can apply for up to 20 multi-currency cards and use them for business expenses at no additional cost. When sufficient funds are held in one of the 15 supported currencies, card payments in those currencies have zero foreign exchange fees.
Key features of the World Account
Local currency account details in 20+ currencies
Receive payments from 130+ marketplaces and payment gateways
Send payments in 100+ currencies across 200+ countries and regions
Pay 1688 suppliers directly through World Pay, the authorised international payment provider for 1688.com
Make instant, zero-cost transfers between World Accounts
Hold foreign currency balances without monthly account fees
Use Xero and NetSuite integrations for accounting and reconciliation
No minimum balance requirement
Use firm orders and forward contracts to manage exchange rates
Fee type
World Account fees
Monthly fee
Zero
Opening a multi-currency account
Zero (20+ currencies)
Receiving funds
Zero
Sending payments to WorldFirst users
Zero cost and instant payments
Sending payments to other accounts
Local payments in AUD or NZD: Zero
Cross-border payments and local payments in currencies other than AUD or NZD: From 0.4%, capped at AU$15
1. Which Australian business bank accounts have no monthly fee?
Westpac Business One, NAB Business Everyday and ANZ Business Essentials have zero monthly fees.1,2,3 CommBank Business Transaction Account also has a AU$0 online option, while its branch option costs AU$10 per month.4 Additional fees may apply for assisted transactions, cheques and other services. The World Account also has Zero monthly fees, but it is a multi-currency business account from an international payments provider, not a bank account.
2. Do these small business accounts come with debit cards?
Yes. Westpac, NAB, ANZ and CommBank all offer business VISA debit cards.1,2,3,4 They can be used for everyday business purchases, with overseas payments and ATM withdrawals available depending on the account.1,2,3,4 Additional foreign transaction or overseas ATM fees may apply.
The World Account is also linked to the World Card, a multi-currency card supporting payments in 150+ currencies. Businesses can have up to 20 virtual World Cards for business expenses.
3. Can these business accounts hold multiple currencies?
These accounts are primarily designed for everyday AUD business banking rather than holding multiple currencies. Businesses that regularly deal in foreign currencies can use a dedicated multi-currency account, such as WorldFirst, alongside their existing Australian business bank account.
4. Can WorldFirst be used alongside an Australian business bank account?
Yes. Businesses can use their existing bank account for domestic AUD expenses and WorldFirst for international payments and foreign currency management. The World Account can receive, hold and convert 20+ currencies, with AUD transferred to the business’s Australian bank account when needed.
Disclaimer: 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.
Based in Sydney, Jim is responsible for the WorldFirst business across Australia and New Zealand. He brings with him over 25 years of experience helping Business Owners, CFO’s and Treasury Managers overcome the challenges with cross border payments and navigating volatile foreign exchange markets.
