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Best business bank accounts in New Zealand

Last update: October 24, 2025

Contents

Looking for the best business account in New Zealand? Explore your options to find the right business bank account that can support your growth

Key takeaways:

A separate business account helps simplify taxes, improve cash flow management, and may come with business-specific features
WorldFirst offers free account setup, competitive exchange rates, and a multi-currency account for global businesses
ANZ’s startup package waives fees for two years, making it ideal for new businesses seeking domestic banking solutions
ASB, Kiwibank and BNZ provide low-cost accounts with overdraft options
Wise and Airwallex also offer multi-currency accounts with global transaction capabilities

Whether you’re starting a new business in New Zealand or already running one, a dedicated business bank account offers more than just the convenience of separating business and personal expenses.

The right business account simplifies transactions, offers tailored features to meet your business needs, and helps you protect your bottom line.

But with so many options available to choose from, it’s easy to get overwhelmed.

In this article, we take a look at the top business accounts in New Zealand, including traditional bank accounts and global business accounts offered by international payment providers.

What is a business bank account?

A business account is designed specifically for managing company finances, keeping personal and business transactions separate. It allows businesses – whether enterprises, small businesses or freelancers–to manage their everyday financial transactions under their company name.

Having a separate business account makes it easier for you to manage cash flow, track expenses and simplify tax season. You also get access to features designed to streamline the daily operations of fast-growing businesses.

Top business accounts in New Zealand

1. ANZ Business Current account

ANZ Bank is one of the leading multinational banks in the ANZ region. It’s New Zealand’s largest bank and Australia’s fourth largest in terms of market share.

The ANZ Business Current account allows businesses to easily manage their funds in one place. It provides versatile access options, including phone banking, online banking, ATMs, and in-branch services ¹.

Pros	Cons
Overdraft and loan facilities are available for businesses (overdraft fees and interest rates may apply) ¹ New businesses that are eligible for ANZ’s business startup package enjoy waived transaction and monthly account fees for the first two years ² No transaction fees for the first 200 transactions (non-standard rates may still apply) ¹	The standard monthly account fee is NZD 8.50 ¹ No support for multiple currencies through the business account, though ANZ does offer a separate foreign currency account Charges for sending and receiving international payments start at NZD 9 per transfer ³

ANZ Business Current account fees ³

Account setup fee	Free
Monthly account service fee	NZD 8.50
Fee for international payments	Receiving payments: NZD 15 (No fee charged for payments under NZD 300 or its equivalent amount in other currencies) Sending payments: NZD 5–NZD 28, depending on the method of transfer (Other charges may apply)
Currency conversion charges	A margin is included in currency conversions

Account setup fee

Free

Monthly account service fee

NZD 8.50

Fee for international payments

Receiving payments: NZD 15 (No fee charged for payments under NZD 300 or its equivalent amount in other currencies)

Sending payments: NZD 5–NZD 28, depending on the method of transfer

(Other charges may apply)

Currency conversion charges

A margin is included in currency conversions

2. BNZ Business First Transact account

Bank of New Zealand (BNZ) has been one of New Zealand’s big four banks since 1861 and owned by National Australia Bank (NAB) since 1992.

BNZ’s Business First Transact is a business account especially designed for small businesses to manage their everyday banking operations ⁴.

Pros	Cons
No monthly or transaction fee for SMBs with turnover of less than NZD 5 million per year (other eligibility criteria may apply) ⁴ Business overdraft facility is available ⁴ Supports mobile banking, telephone banking, automatic payments, direct debits and ATM withdrawals ⁴	Same-day transfers are charged NZD 5 per transaction ⁵ There are separate fees for sending and receiving international payments ⁵

BNZ’s Business First Transact account fees ⁵

Account setup fee

Free

Monthly account service fee

Free

Fee for international payments

Receiving payments: NZD 10–NZD 15

Sending payments: NZD 5–NZD 25 depending on the method of transfer

(Other fees may apply)

Currency conversion charges

A margin is included in currency conversions

3. Kiwibank Business Edge account

Founded in 2002, Kiwibank is the country’s biggest New Zealand-owned bank. It offers various financial services to individuals and businesses. The Kiwibank Business Edge is a transaction account for everyday business banking needs.

To open this business account with Kiwibank, the company director must be either a citizen or resident of New Zealand ⁶.

Pros	Cons
No fee for electronic deposits Supports mobile banking, telephone banking, automatic payments, ATMs and EFTPOS Visa debit cards available	There’s a monthly account management fee of NZD 5 ⁶ Bulk payments are charged at NZD 0.2 per item ⁷ An inactive account fee of NZD 30 applies when you haven’t initiated any transactions for one year or of your balance falls below NZD 30 ⁷

Kiwibank Business Edge account fees [7] [8]

Account setup fee	Free
Monthly account service fee	NZD 5
Fee for international payments	Receiving payments: NZD 12 equivalent per international transfer ⁸ Sending payments: NZD 10–NZD 35, depending on the method of transfer (Other charges may apply)
Currency conversion charges	A margin is included in currency conversions

Account setup fee

Free

Monthly account service fee

NZD 5

Fee for international payments

Receiving payments: NZD 12 equivalent per international transfer ⁸

Sending payments: NZD 10–NZD 35, depending on the method of transfer

(Other charges may apply)

Currency conversion charges

A margin is included in currency conversions

Alternatives to business bank accounts: Global business accounts

1. WorldFirst

WorldFirst is a digital payment provider designed for Kiwi SMEs trading globally.

With a World Account, you can pay suppliers and partners in over 90 currencies across 200+ countries—all at competitive exchange rates.

You can also open local currency accounts in 15+ currencies, including NZD, USD, AUD, GBP, EUR, and CNH. These accounts let you receive payments from 130+ international marketplaces and gateways, helping your business operate globally as if it were local.

WorldFirst is a one-stop digital payments provider for global businesses and SMEs in international trade. It is an authorised and regulated payment provider that allows businesses in New Zealand to make fast, secure and reliable international transactions.

Opening a World Account is free and there are no fees for receiving funds.

Pros of opening a business account in New Zealand with WorldFirst:

No setup costs: There are zero charges for opening and maintaining your World Account
Simplified international transfers: Send payments in 90 currencies and receive payments in over 20 currencies
Quick batch payments: Send up to 200 payments in one transaction
Instant transfers between World Accounts: Make instant and free transfers between World Accounts
Decide your exchange rates: You can target an exchange rate or lock in an exchange rate for up to 24 months for budgeting certainty
Contact the team any time: Our support team is available 24/5 via phone, email and live chat
Get multi-currency debit cards: Issue up to 20 cards for your team
Seamless accounting integration: WorldFirst integrates seamlessly with Xero, making it easier for Kiwi businesses to automate bookkeeping and reconcile international transactions.
Pay 1688 suppliers: World Pay is the only globally authorized payments provider for com and it allows you to pay 1688 suppliers easily and securely.

WorldFirst fees

Account setup fee	Free
Monthly account service fee	Free
Fee for international payments	Receiving payments: Free Sending payments: NZD 10–NZD 35, depending on the method of transfer (Other charges may apply) Sending payments Fee for cross-border payments and local payments in currencies other than NZD or AUD: 0.4%, capped at AUD 15
Currency conversion charges	Major currencies: Up to 0.6% Minor currencies: From 0.67% Payments to 1688.com: Up to 0.8%
Fee for holding multiple currencies	Free
Fee for sending payments to other WorldFirst accounts	Free

2. Wise Business account

Wise offers multi-currency accounts, allowing businesses to send, receive, and hold funds in 23 currencies ¹⁰. Each local currency account comes with a unique account number and bank code. You can also make payments in 50 currencies ⁹.

Pros	Cons
Support for global businesses through multi-currency accounts ⁹ Receiving local payments is free ¹⁰ You can hold funds in 40+ currencies (not all come with bank account details) ¹⁰	While registration is free, allowing you to send money, you’ll have to pay a one-time fee of NZD 40 to access local currency accounts ¹⁰ SWIFT payments attract separate fee, which varies by currency ¹⁰ Only three virtual cards are available for free per account

Wise business account fees ¹⁰

Account setup fee	NZD 40 to set up a multi-currency account
Monthly account service fee	Free
Fee for international payments	Receiving payments: Free, except for SWIFT payments Sending payments: Starts at 0.23% (fee varies by currency)
Currency conversion charges	From 0.23%
Fee for sending payments to other Wise accounts	Free

3. Airwallex

Airwallex is another global payment provider that allows businesses to set up local currency accounts to receive funds in 20+ currencies. Businesses can make global transfers in 60+ currencies across 180 countries ¹¹. There are also APIs and plugins available, which make it easy for businesses to collect payments.

Pros	Cons
Set up 20+ currency accounts with bank details ¹¹ No charges for receiving payments ¹⁰ Visa-powered debit cards are available ¹¹	Features like expense management and integration with Xero is only available on paid plans starting at NZD 99 You only get a dedicated account manager if you subscribe to the NZD 499 monthly plan SWIFT payments attract extra fees of up to NZD 15 ¹³

Airwallex NZ business account fees ¹⁰

Account setup fee	Free
Monthly account service fee	NZD 0–NZD 499 depending on the plan
Fee for international payments	Receiving payments: Free Sending payments: Attract a transfer and currency conversion fee For SWIFT payments, charges are NZD 15–NZD 30
Currency conversion charges	0.5% for major currencies and 1% for other currencies
Fees for sending payments to other Airwallex accounts	Free

Compare business accounts before picking one

Before choosing an account for your business, make sure to compare business accounts and consider the different features they provide.

Monthly fees: Assess ongoing costs like maintenance fees, transaction charges and ATM usage fees
Transaction speed: Ensure fast domestic and international payments to maintain cash flow and vendor trust
Cross-border payments: Opt for accounts that simplify international transactions and make them as seamless as local payments
Marketplace collections: Choose accounts that streamline global e-commerce collections with minimal costs
Multi-currency support: Look for accounts that enable sending, receiving, and holding funds in multiple currencies
International fees: Minimise cross-border costs by selecting accounts with low international transaction fees

→ Looking for business accounts in Australia? Check out our guide to the best business bank accounts in Australia

How to open a business account in New Zealand with WorldFirst

With a World Account, you can grow your business globally without worrying about lengthy paperwork or high conversion costs that chip away at your profits.

There are no transfer or collection limits, allowing you to manage your daily transactions easily. Pay locally or globally in minutes with a single account.

Here are the steps to open a business account with WorldFirst:

1. Gather all the important documents

Before getting started, make sure you have the following documents:

Your company’s basic information (including your registration number, trading address, and company structure)
A valid ID (e.g., your passport or driver’s licence)
Your mobile phone
Details of all current directors registered within the company
Valid ID for all shareholders (e.g., passport or driver’s licence)

Here’s the in-depth list of documents you can provide for account verification as a sole trader or a company.

2. Add the country or region of your business

Select the country or region where your business is registered using the dropdown list.

3. Verify your email address

Enter your email address and click the ‘send code’ button. Verify your email address by entering the code shared over email. Create a secure password for your account.

4. Verify your mobile number

Enter your mobile phone number and click ‘Send code.’ When prompted, enter the 6-digit verification code sent to your mobile phone number via SMS.

5. Provide information about your business

Enter your company registration number and other company details, including company name, type of business and registered address.

6. Provide proof of identity

Select which country your ID was issued in and upload ID proof.

7. Provide information about company directors and ownership

Add details about registered directors and major shareholders, and upload the necessary documents.

Once your account is verified, you can start using it right away. You can also open currency accounts in 15+ currencies based on your current business requirements.

Sources:

https://www.anz.co.nz/business/accounts-and-cards/business-accounts/current-account/
https://www.anz.co.nz/business/accounts-and-cards/packages/business-start-up-package/
https://www.anz.co.nz/content/dam/anzconz/documents/rates-fees-agreements/ANZ-fees-charges.pdf
https://www.bnz.co.nz/business-banking/everyday-accounts/business-transaction-accounts
https://www.bnz.co.nz/business-banking/support/rates-and-fees/business-service-charges?link=bft
https://www.kiwibank.co.nz/business-banking/accounts-cards/everyday-accounts/business-edge/
https://www.kiwibank.co.nz/business-banking/accounts-cards/rates-and-fees/
https://media.kiwibank.co.nz/media/documents/Business_Banking_Fees_and_Limits_Sep24.pdf
https://wise.com/nz/business/
https://wise.com/nz/pricing/business
https://www.airwallex.com/nz/business-account/
https://www.airwallex.com/nz/pricing/plans
https://www.airwallex.com/nz/terms/fee-schedule

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.

Jim Vrondas

Author

Country Manager ANZ at WorldFirst

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Best business bank accounts in New Zealand

What is a business bank account?

Top business accounts in New Zealand

1. ANZ Business Current account

2. BNZ Business First Transact account

3. Kiwibank Business Edge account

Alternatives to business bank accounts: Global business accounts

1. WorldFirst

2. Wise Business account

3. Airwallex

Compare business accounts before picking one

How to open a business account in New Zealand with WorldFirst

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