Best small business accounts in New Zealand
Last updated: 5 Nov 2025
Find the best small business accounts in New Zealand to manage cash flow, simplify taxes and access key features.
Key takeaways
- A small business bank account helps separate personal and business finances for easier tax reporting
- Business accounts improve credibility with customers, suppliers and financial institutions
- Many business accounts integrate with accounting software like Xero for seamless bookkeeping
- Business banking features include multi-user access, bulk payments and overdraft options
- For Kiwi businesses with international operations, WorldFirst offers a global business account with free setup, multi-currency support, competitive exchange rates and seamless integration with Xero.
Choosing the right small business bank account in New Zealand can help you manage finances efficiently, simplify tax reporting and access key business banking features. Whether you’re a sole trader or scaling your company, the right account can improve credibility, streamline transactions and even support international payments.
In this guide, we compare the best business accounts for small businesses in New Zealand.
Table of Contents
Why get a small business bank account?
Even if you’re a sole trader or starting out small, there are many benefits of getting a small business account in New Zealand, including:
Financial separation: Keeping your business and personal finances separate makes it easier to track your business income and expenses. It also simplifies compliance and year-end tax reporting.
More credibility: With a business account under your company’s name, you can improve your credibility with customers, suppliers and even online marketplaces (if you’re running an online store).
Easier accounting: Most business account providers also support direct integration with accounting software like Xero, allowing you to automate account reconciliations.
Access to business features: The biggest benefit of switching to a small business banking account is that you get access to various services catering specifically to businesses, including multi-user access to the account, team debit cards, bulk payments and even FX solutions such as forward contracts.
International transaction support: Business accounts also support international transactions with low exchange rates (in some cases). Some business account providers also offer multi-currency support, allowing businesses to hold funds in multiple currencies.
Top small business bank accounts in NZ
1. ANZ Business Current Account
The ANZ Business Current Account is an everyday banking account with a monthly account fee of NZD8.5.1 The account comes with 200 free transactions every month and it is accessible through online banking, ATMs, EFTPOS or ANZ branches. Eligible startups can also get monthly and transaction fees waived off for up to two years. Business loans and overdraft facilities are also available.
ANZ Business Current account fees2
| Account setup fee | Zero |
|---|---|
| Monthly account service fee | NZD 8.50 |
| Fee for receiving payments | Domestic payments: Zero International payments: NZD15 (no fee for payments under NZD300 or equivalent in other currencies) |
| Fee for sending payments | Domestic payments: Zero for the first 200 transactions every month. NZD0.20 for each subsequent transaction International payments: NZD5–28, depending on the method of transfer |
| Currency conversion charges | A margin is included in currency conversions |
| Sending payments to other ANZ accounts | Same fees apply |
2. BNZ Business First Transact account
The Business First Transact account comes with no monthly accounting fees and is specially designed for small businesses to streamline their banking operations.3 Accounts are accessible through online banking, mobile apps, branches and ATMs. Business overdraft is also available for eligible businesses for cash flow support.
There are also Visa-powered debit cards and credit cards available.
BNZ’s Business First Transact account fees4
| Account setup fee | Zero |
|---|---|
| Monthly account service fee | Zero |
| Fee for receiving payments | Domestic payments: Zero International payments: NZD10–15 |
| Fee for sending payments | Domestic payments: Zero International payments: NZD5–25 depending on the method of transfer |
| Currency conversion charges | A margin is included in currency conversions |
| Sending payments to other BNZ accounts | Same fees apply |
3. Kiwibank Business Edge account
The KiwiBank Business Edge account has a monthly fee of NZD 5.5 The account is accessible through online banking, banks and ATMs. It also links banking records to accounting software like Xero and MYOB. Visa-powered debit cards and ATM cards are available.
To open this business account with Kiwibank, the director of the company must either be a New Zealand citizen or a resident of New Zealand.5
Kiwibank Business Edge account fees6 7
| Account setup fee | Zero |
|---|---|
| Monthly account service fee | NZD 5 |
| Fee for receiving payments | Domestic payments: Zero International payments: NZD12 equivalent per international transfer |
| Fee for sending payments | Domestic payments: Zero International payments: NZD10–35, depending on the method of transfer |
| Currency conversion charges | A margin is included in currency conversions |
| Fee for sending payments to other Kiwibank accounts | Zero for transfers made to other Kiwibank accounts under the same name. When sending payments to other Kiwibank account holders, the same fees apply as above. |
- Open 15+ local currency accounts and get paid like a local
- Pay suppliers, partners and staff worldwide in 100+ currencies
- Collect payments for free from 130+ marketplaces and payment gateways, including Amazon, Etsy, PayPal and Shopify
- Save with competitive exchange rates on currency conversions and transfers
- Lock in exchange rates for up to 24 months for cash flow certainty
4. ASB Everyday Business Account
The ASB business transaction account comes with no monthly fee or transaction fees.8 The account also offers online banking and optional overdraft facilities to support cash flow management. While the account integrates with software like Xero, the integration options are only available with FastNet Business, which has its own fees.
ASB everyday business account fees9
| Account setup fee | Zero |
|---|---|
| Monthly account service fee | Zero |
| Fee for receiving payments | Domestic payments: Zero International payments: NZD15 |
| Fee for sending payments | Domestic payments: Zero International payments: NZD5–30 |
| Currency conversion charges | A margin is included in currency conversions |
| Fee for sending payments to other ASB accounts | Same fees as above |
Alternative to business bank accounts: WorldFirst for fast-growing small businesses in NZ
WorldFirst is a one-stop digital payment provider for global businesses and SMEs in international trade. We help SMEs focused on growing globally to expand into new markets with confidence.
With a World Account, you can make payments to suppliers and business partners in 90+ currencies across 200+ countries and regions, at competitive exchange rates. You can also set up currency accounts to send, receive and hold funds in 20+ currencies, including GBP, USD, AUD, CAD, EUR, NZD and CNH. These currency accounts allow businesses to collect payments from marketplaces and payment gateways globally and do business like a local.
Your World Account offers numerous features:
Free to set up and maintain
Open a World Account with no setup fees, no monthly maintenance costs and no charges to receive funds or issue a multi-currency debit card.
Pay like a local in global markets
Set up local currency accounts in over 15+ currencies, including NZD, AUD, USD, GBP, EUR and CNH. Collect and hold funds from overseas customers and marketplaces as if you had a local bank account – ideal for collecting payments from Amazon, Stripe, eBay and more.
Competitive and transparent fees
Send money overseas at rates as low as 0.4%, capped at AUD15. Currency conversion fees start at 0.6% (up to 0.8% for payments to 1688.com).
Scale at your own pace
With no minimum deposit or transaction requirements, your World Account grows with your business.
Fast, simple global payments
Send payments in 100+ currencies to 210+ countries and regions. Streamline your international transactions and stay in control of your global expenses.
World Card for business expenses
Issue multi-currency debit cards to your team for local or overseas business expenses. Track spending and manage budgets more efficiently.
NZ-friendly accounting integration
WorldFirst integrates seamlessly with Xero, making it easier for Kiwi businesses to automate bookkeeping and reconcile international transactions.
Team-friendly access
Multi-user authorisation lets your team securely access the World Account to manage payments, view balances and handle admin tasks, while you remain in full control.
Support when you need it
Our team is available via phone, email and live chat to support New Zealand businesses with onboarding, troubleshooting and best practices.
Safe and secure
Enjoy peace of mind with two-factor authentication, real-time fraud monitoring and bank-level security.
WorldFirst fees
| Account setup fee | Zero |
|---|---|
| Monthly account service fee | Zero |
| Fee for receiving payments | Zero |
| Fee for sending payments | |
| Currency conversion charges | |
| Fee for holding currencies | Zero |
| Fee for sending payments to other WorldFirst accounts | Zero |
Sources:
- https://www.anz.co.nz/business/accounts-and-cards/business-accounts/current-account/
- 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_july25.pdf
- https://www.asb.co.nz/business-banking/business-account.html
- https://www.asb.co.nz/content/dam/asb/documents/business-banking/2025/asb-guide-to-business-banking-fees-25-july-2025.pdf
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.
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