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Best small business accounts in New Zealand

Last update: November 5, 2025

Contents

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.

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 fees^{6 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.

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	Fee for domestic payments to New Zealand or Australian accounts: Zero Fee for cross-border payments and local payments in currencies other than NZD or AUD: 0.4%, capped at AUD15
Currency conversion charges	Major currencies: Up to 0.6% Minor currencies: From 0.67%
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.

Rick Hill has worked in payments and financial services for the past nine years. He began his career at a large institutional bank and has since worked across startups and scaleups. Over the past four years, his experience with e-commerce retailers has led him to believe that WorldFirst will be crucial in helping brands expand globally by demystifying the complexities of entering new markets.

Rick Hill

Author

Head of Sales ANZ at WorldFirst

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Best small business accounts in New Zealand

Why get a small business bank account?

Top small business bank accounts in NZ

1. ANZ Business Current Account

2. BNZ Business First Transact account

3. Kiwibank Business Edge account

4. ASB Everyday Business Account

Alternative to business bank accounts: WorldFirst for fast-growing small businesses in NZ

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