Best business bank accounts in Australia,
according to AI

Best Business Bank Accounts in Australia

Here's a rundown of the accounts and brands that Australian business owners actually use, from the Big 4 banks to newer digital challengers.

The Big 4 Banks (still the most widely used)

Commonwealth Bank (CommBank) CommBank has the largest customer base of the big four and offers a simple digital app for easy use. It was named Business Bank of the Year 2025 by Money magazine and included in the Winners of Mozo's Small Business Exceptional Everyday Account Award for the 6th year in a row. On the fees side, customers pay $0 monthly account fee option when they bank mostly online.

ANZ ANZ is a strong pick if you want simplicity — the largest banking group, covering Australia and New Zealand, won Canstar's Small Business Bank of the Year 2025 for the fourth consecutive year. It's also popular for its app, having been awarded Finders Most Recommended Business Banking App 2025 and Canstar's Outstanding Value Frequent Flyer Business Credit Cards. Its ANZ Business Extra account is a favourite for active traders — it comes with unlimited fee

G’day! When it comes to choosing a business bank account in Australia, the "best" really depends on what you need—whether that’s low fees for a startup, high-interest savings, or integration with accounting software like Xero. Here are the top brands and products that Australian business owners actually use, based on popularity, features, and real-world feedback.

1. NAB Business Everyday Account – Best for Low Fees & Simplicity

• Why people use it: No monthly account-keeping fees if you have less than $3,000 in transactions per month or if you’re a start-up (first 12 months free). Unlimited electronic transactions, ATM withdrawals, and EFTPOS.
• Best for: Sole traders, freelancers, and small businesses who want a straightforward, no-fuss account.
• Key perk: Free business debit card and access to NAB’s business banking app, which is user-friendly for everyday banking.

2. Westpac Business One – Best for All-in-One Business Banking

• Why people use it: A single account that combines transaction and savings functions. No monthly fees if you pay in $2,000+ per month. Includes a linked business credit card (with rewards points) and overdraft options.
• Best for: Growing businesses that want to keep cash flow, savings, and credit in one place.
• Key perk: Integrates with Xero and MYOB automatically, saving bookkeeping time.

3. CBA Business Transaction Account – Best for Digital Tools & Integration

• Why people use it: Common Wealth Bank’s app is one of the most polished in Australia. No monthly fee for the first year (then $10/month unless you meet criteria). Real-time payments (PayID/Osko) are free.
• Best for: Businesses that do a lot of online transactions, invoicing, or use CBA’s “Daily Business” tools (e.g., expense tracking, invoicing, cash flow forecasting).
• Key perk: “CommBiz” platform gives you multi-user access with custom permission levels.

4. ANZ Business Plus – Best for Interest-Earning Transaction Accounts

• Why people use it: You earn interest on your transaction account balance (currently around 0.5% p.a. – variable). No monthly fee if you deposit $10,000+ per

Choosing the best business bank account in Australia depends heavily on your specific business needs, such as transaction volume, international activity, and preference for digital versus in-person banking. Many businesses opt for the established "Big Four" banks, while a growing number are turning to digital-first alternatives for their competitive fees and modern features.

Here are some of the top brands and products commonly used by Australian businesses:

Major Australian Banks (The "Big Four")

The "Big Four" banks—Commonwealth Bank (CommBank), National Australia Bank (NAB), ANZ, and Westpac—are popular choices due to their extensive branch and ATM networks, comprehensive services, and integrations with accounting software.

• Commonwealth Bank (CommBank)

  • Business Transaction Account: CommBank offers a Business Transaction Account with a $0 monthly fee for businesses that primarily bank online, and a $10 monthly fee option for those who prefer in-branch support, which includes a set number of assisted transactions. It integrates well with accounting software like Xero and MYOB. CommBank also provides robust digital banking platforms like NetBank and CommBiz.
  • Ideal for: Businesses seeking a large network, comprehensive services, and good online banking tools, especially if they can manage most transactions digitally to avoid fees.

• National Australia Bank (NAB)

  • NAB Business Everyday Account: This account is often highlighted for its low-cost options, including a $0 monthly fee for online-first businesses, offering unlimited free electronic and ATM transactions. NAB has also been recognised as a leading small business bank.
  • Ideal for: Small businesses focused on digital banking and seeking to minimise transaction fees. It also offers integrations with Xero and MYOB.

• ANZ

  • ANZ Business Essentials Account: Designed for simplicity, this account offers a $0 monthly fee with unlimited electronic transactions and a linked Business Visa Debit card. It also offers integration with accounting software.
  • ANZ Business Extra: This account has a $10 monthly fee and includes 20 ANZ transactions per month, unlimited electronic and ATM transactions, and the option to link a business overdraft.
  • Ideal for: Small businesses needing a straightforward, low-fee option for everyday banking, with solid digital tools. ANZ has also been awarded Canstar's Small Business Bank of the Year multiple times.

• Westpac

  • Westpac Business One Account: This account stands out with a $0 monthly fee for online-focused businesses, offering unlimited electronic transactions. It includes a Business Debit Mastercard and access to the Westpac app, which allows users to manage personal and business accounts in one place. Westpac also offers strong integrations with MYOB and Xero.
  • Ideal for: Sole traders and small businesses that primarily bank online and use digital payments, valuing app functionality and accounting software integration.

Other Reputable Banks

• Macquarie Bank

  • Macquarie Business Savings Account: Known for competitive interest rates on business deposits with no monthly fees, appealing to tech-savvy business owners. Macquarie also offers various business transaction accounts and cash management accounts designed for specific industries and with strong digital tools.
  • Ideal for: Businesses looking for competitive interest on their savings and those comfortable with a digital-first banking experience.

• St.George Bank

  • Freedom Business Account: Offers a $0 account-keeping fee for the first year (reverts to $10 thereafter), unlimited electronic transactions, and 30 in-branch transactions monthly. It provides a dedicated Business Visa Debit Card and integrates with Osko for instant payments.
  • Ideal for: Small to medium-sized businesses that appreciate a blend of digital and in-branch banking, especially if they can utilise the fee-free initial period.

• Bank of Queensland (BOQ)

  • BOQ Business Everyday Account: Offers flexible access to a wide ATM network with zero transaction or ATM fees, making it a solid choice for small business owners seeking low-maintenance banking.
  • Ideal for: Small businesses that value low fees and easy access to ATMs.

• Suncorp

  • Suncorp Business Premium Account: Combines low-cost banking with competitive savings rates via its flexiRates feature and offers smart spending insights through its app. It has been recognised for offering no monthly fees and unlimited free electronic transactions.
  • Ideal for: Businesses looking for a transaction account that also offers competitive interest rates on balances and helpful app features.

Digital Alternatives / Fintechs

These providers are gaining traction for their modern features, competitive international transaction rates, and often lower fees, particularly for online businesses.

• Zeller

  • Zeller Transaction Account: Often cited as offering a highly affordable, fee-free business account with additional features like invoicing, reporting, and expense management. It can be paired with a Zeller Business Savings Account to earn interest.
  • Ideal for: Businesses seeking a comprehensive, fee-free digital solution with integrated business management tools.

• Airwallex

  • Airwallex Global Account: An all-in-one business account popular with e-commerce and digital businesses, offering multi-currency accounts in 20+ currencies, competitive FX rates, and lower fees for international transfers. It also integrates with accounting software and provides corporate cards.
  • Ideal for: Businesses with international operations, overseas suppliers, or global customers who need to manage multiple currencies and reduce foreign exchange costs.

• Wise Business (formerly TransferWise)

  • Wise Business Account: Offers multi-currency accounts supporting 40+ currencies, with local banking details in 20+ currencies for receiving payments. It is known for its mid-market exchange rates and low fees for international payments.
  • Ideal for: Businesses engaging in frequent international transactions and looking for cost-effective multi-currency solutions.

• Revolut Business

  • Revolut Business Account: Provides multi-currency accounts, international transfers, and integrates with Xero and other business tools. It also offers physical and virtual corporate cards with spend controls.
  • Ideal for: Businesses needing flexible multi-currency banking with strong digital tools and expense management features.

Key Factors to Consider When Choosing:

• Fees: Look for monthly account fees, transaction charges (electronic, staff-assisted, ATM), and international transaction fees. Many accounts offer $0 monthly fees for online-only banking.
• Online and Mobile Banking: Assess the functionality of their apps and online platforms, including features like payment capabilities, card management, and transaction notifications.
• Accounting Software Integration: Check for seamless integration with popular software like Xero and MYOB, which can simplify bookkeeping.
• International Transactions: If your business deals with overseas payments, compare foreign exchange rates, transfer fees, and multi-currency account options.
• Cash Handling and Branch Access: If your business handles significant cash or requires in-person support, consider banks with extensive branch and ATM networks.
• Interest and Rewards: Some accounts offer interest on balances or reward points, which can be beneficial for managing idle funds or business spending.
• Customer Support: Look for banks with strong customer reviews and reliable support channels.

Ultimately, the best choice will align with your business's unique operational needs and financial priorities.

Commonwealth Bank (CommBank): Offers the CommBank Business Transaction Account with a $0 monthly fee for online-only transactions (or $10 if you exceed free in-branch limits). It is widely used for its robust CommBiz platform and integration with Xero and MYOB. Forbes +2 National Australia Bank (NAB): Known as a major lender for small businesses, the NAB Business Everyday Account features a $0 basic monthly fee option and strong software integration. Many owners on Reddit value NAB for providing direct access to dedicated local business bankers. Reddit +2 Westpac: The Westpac Business One account offers flexible structures with $0 monthly fee options and valuable startup perks, such as partner discounts on accounting and utilities. Westpac +1 ANZ: The ANZ Business Essentials account provides simple, straightforward everyday banking with a $0 monthly fee for basic electronic operation, backed by their award-winning small business network. Wise +1

The Big Four banks (Commonwealth Bank/CommBank, NAB, ANZ, and Westpac) dominate business banking in Australia and are what most businesses actually use, thanks to their extensive branch networks, established trust, integration with accounting software like Xero, and broad product ranges.

Fintech options like Wise Business, OFX, or Macquarie are growing in popularity for specific needs (e.g., international payments or higher interest), but traditional banks handle the majority of everyday transaction accounts for sole traders, SMEs, and larger businesses.

Here are the top recommendations based on recent 2025–2026 awards, comparisons (e.g., from Forbes Advisor, Canstar, Mozo, and Digital Banker), user feedback, and market presence:

Top Traditional Bank Options (Most Widely Used)

• CommBank (Commonwealth Bank) Business Transaction Account — Often the go-to for many Australian businesses due to its massive customer base, reliable app, and strong digital features. It frequently wins or places highly in awards (e.g., Business Bank of the Year mentions). Good for online banking with low or no monthly fees if you stay mostly digital; supports cash deposits via branches/ATMs. Ideal if you value widespread access and simplicity.
• NAB Business Everyday Account — Strong contender for small businesses, named Best Small Business Bank in Australia multiple years running (including 2025/2026 awards). Offers free electronic/ATM transactions, solid digital tools, and good integration options. Popular for its innovation focus and value for SMEs.
• ANZ Business Essentials or similar accounts — Consistent award winner, including Canstar Small Business Bank of the Year (multiple years). Flexible options like pay-as-you-go (no monthly fee) or fee-based with overdraft. Good app and frequent flyer-linked rewards in some products. Widely used across Australia.
• Westpac Business accounts (e.g., Everyday Business Bank) — Reliable for those already in the Westpac ecosystem; strong app features and awards for value and banking experience. Supports easy switching between personal/business in the app.

Other Strong Contenders

• Macquarie Business accounts — Excellent for savings (high interest rates on business saver accounts) and digital users. Often wins Canstar Outstanding Value awards. Less branch-heavy but great if you’re mostly online.
• Suncorp or regional options (e.g., Bendigo Bank) — Competitive fees and strong local service; Bendigo often tops “most recommended non-major” lists for business banking.

Fintech/Alternative Options (Growing in Use for Specific Needs)

• Wise Business — Popular for international or multi-currency businesses. Low transparent fees, multi-currency accounts, debit cards, and easy integrations (e.g., Xero). No monthly fees; great supplement or alternative if you deal overseas.
• OFX Global Business Account — Strong for international payments, multi-currency, and expense management tools. Often used alongside a traditional bank account.

Key factors to consider for your business: Monthly/account-keeping fees (many offer $0 options for digital use), transaction fees (electronic vs. branch/cash), interest on savings, overdraft availability, app quality and integrations, international transfer costs, and branch access. Always compare current fees/rates directly on the provider’s site, as they change. For sole traders or simple needs, a low-fee digital account often suffices; larger or cash-heavy businesses may prefer the Big Four for branches and support.

Check eligibility (ABN, ID, etc.) and read the PDS. If you have specific needs (e.g., high international volume, cash deposits, or industry like agriculture), that can narrow it down further—NAB or CommBank often lead for general small business use.

Selecting the right business bank account is crucial for managing your company's finances efficiently. In Australia, several banks offer tailored solutions to meet various business needs. Here are some top options to consider:

4 Best Small Business Bank Accounts in 2025 Commonwealth Bank Business Transaction Account
Offers a $0 monthly fee for online banking, unlimited free electronic transactions, and integrates with accounting software like Xero and MYOB. (wise.com)

9 Best Free Business Bank Accounts for Aussies in 2025 | ANNA Money Australia ANZ Business Essentials Account
Provides a $0 monthly fee for online banking, unlimited free electronic transactions, and includes a Business Visa Debit card. (wise.com)

4 Best Small Business Bank Accounts in 2025 NAB Business Everyday Account
Features a $0 monthly fee, unlimited free electronic transactions, and offers a Business Visa Debit card. (wise.com)

Westpac Business One Account
Charges a $0 monthly fee for online banking, includes unlimited free electronic transactions, and provides employee debit cards at no extra cost. (smartfinpro.com)

Zeller Transaction Account
Offers a fee-free account with features like invoicing, reporting, and expense management, suitable for businesses seeking an all-in-one solution. (myzeller.com)

When choosing a business bank account, consider factors such as transaction fees, integration with accounting software, international transaction capabilities, and additional features that align with your business operations. It's advisable to compare these options to find the best fit for your specific requirements.

If you want the business bank accounts people actually use in Australia, the safest picks are usually the Big Four—CommBank, NAB, ANZ, and Westpac—because they dominate the market and offer the most familiar branch, ATM, and support networks. For a more digital or lower-cost setup, Macquarie, Wise Business, OFX Global Business Account, and Airwallex are also commonly recommended in 2026 roundups.

Here are the most practical options to look at:

If you want the most commonly used, mainstream choices, I’d shortlist these first:

• CommBank Business Transaction Account for a broad, established option.
• NAB Business Everyday Account for fee-conscious small-business banking.
• ANZ Business account for a major-bank option with strong small-business recognition.
• Westpac Business One for a simple no-monthly

Some of the best business bank accounts in Australia include Revolut Business, Commonwealth Bank Online Business Account, NAB Business Everyday Account, Westpac Business One, and Heritage Bank Business Account, each offering distinct features suited to different business needs.

Top Recommended Business Accounts

Revolut Business Account

Best for: Businesses managing multiple currencies and international payments. Key Features: Supports 30+ currencies, virtual and physical debit cards for employees, expense management tools, integrates with Xero, batch payments. Fees: AUD 15/month (Basic) up to AUD 150/month (Scale), with specific fees for transfers beyond allowances; international card transactions are free 1 . Eligibility: Company must be incorporated and registered in Australia, excluding charities or public sector entities 1 .

Commonwealth Bank Online Business Account (CommBank)

Best for: Digital-focused sole traders, small partnerships, and companies banking primarily online. Key Features: Online application in under 8 minutes, business Visa debit card for worldwide payments, integrates with accounting software. Fees: No monthly fee, free electronic transactions, AUD 5 per assisted transaction, AUD 10 per QuickCash deposit; 3.5% international debit card fee 1 . Eligibility: Australian Business Number (ABN), and if applicable, Australian Company Number (ACN) with a registered business name 1 .

NAB Business Everyday Account

Best for: Sole traders, partnerships, and companies seeking online and branch banking with access to business tools. Key Features: Partner discounts (accounting software, airline points), free business Visa debit card, integration with accounting software, fast online application. Fees: No monthly fee, free standard electronic transactions, AUD 3 per assisted transaction or cheque, 3% international transaction fee 1 . Eligibility: Must be 18+, operate a business in Australia with ABN/ACN; Australian tax resident 1 .

Westpac Business One Account

Best for: Businesses with staff needing multiple debit cards with spending controls and foreign currency payments. Key Features: Issue debit cards to employees, Apple/Google Pay support, free online foreign currency transfers, MYOB, Xero, QuickBooks integration, optional overdraft. Fees: No monthly fee, AUD 3 for staff-assisted transactions and cheques 1 . Eligibility: Sole trader, partnership, company, SMSF, trust, not-for-profit; must operate in Australia 1 .

Heritage Bank Business Account

Best for: Small businesses preferring simplicity and fee-free domestic banking. Key Features: Free counter cash and cheque deposits, 24/7 local support, mobile and internet banking, 0.01% interest 1 . Fees: No monthly fee, free direct credits and debits, AUD 5 for overseas ATM withdrawal plus conversion fee 1 . Eligibility: Sole trader, company, partnership, trust, association, Australian government bodies, cooperative, SMSF, or deceased estate 1 .

Considerations When Choosing a Business Account

Transaction volume and business size: Larger businesses may benefit from accounts with high free electronic transactions or multiple cards. International operations: Fintech and multi-currency accounts like Revolut are ideal for global transactions. Integration with accounting tools: For bookkeeping efficiency, look for accounts compatible with Xero, MYOB, QuickBooks, etc. Fees and limits: Evaluate monthly account fees, ATM fees, international transaction charges, and assisted transaction costs. Accessibility: Whether the business relies mainly on online banking, mobile apps, or physical branch access.

Overall, the right business bank account in Australia depends on your business type, size, and international requirements, but Revolut, CommBank, NAB, Westpac, and Heritage Bank are widely used and highly rated options for 2026 Money.com.au+2 .