Business bank accounts with no fees

Business banking minus the fees? Yes, please.

Compare business bank accounts with no fees

When comparing business bank accounts, look for one with no fees, or that have fee waivers under conditions you can realistically meet.

1 - 11 of 80
Name Monthly fee Govt. Guarantee Own network ATM fee Card type
Zeller Business Transaction Account
Zeller logo
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Mastercard
Go to siteMore Info
Prospa Business Account
Prospa logo
Apple Pay Google Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Go to siteMore Info
Thriday Business Bank Account
Thriday logo
Apple Pay Google Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
Earn 3.35% p.a. interest on your bank balance
NAB Business Everyday Account
NAB logo
Apple Pay Google Pay Samsung Pay Garmin Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
Airwallex Global Account
Airwallex logo
Apple Pay Google Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Suncorp Bank Business Premium Account
Suncorp Bank logo
Apple Pay Google Pay Samsung Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
Auswide Bank Business Access Account
AusWide Bank logo
Apple Pay Google Pay
Monthly fee
$10
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
Westpac Business One Account
Westpac logo
N/A
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Mastercard
More Info
ANZ Business Essentials
ANZ logo
Apple Pay Google Pay Samsung Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
AMP Cash Manager
AMP Bank logo
Apple Pay Google Pay Samsung Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
Heritage Bank Body Corporate
Heritage Bank logo
Apple Pay Google Pay Samsung Pay Garmin Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
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Showing 11 of 80 results

How can I avoid business banking fees?

Pay no monthly account fees.

There are plenty of business bank accounts that don't charge any monthly fees, but you may need to maintain a minimum account balance or meet ongoing deposit requirements.

Avoid transaction fees.

Many business bank accounts will impose limits on the number of fee-free transactions you can make each month. These limits may differ depending on what type of transaction is made. For example, you might have unlimited free online transfers but only 10 free in-branch transactions. Look for one that suits your typical banking habits.

Find the right business credit card.

Choose a business credit card with low or no annual fee. If you need to choose a card with an annual fee, you can reduce other fees by limiting your international purchases, not withdrawing cash and always paying your bill on time.

Avoid overdrafts.

If you don’t need or want an overdraft facility, contact the bank and ask them to turn it off. Keep in mind that this could lead to transactions being declined, which may incur costs elsewhere. If you do want an overdraft facility, check the timeframe in place to replace the funds before incurring a fee.

Reduce international transfer fees.

Does your business regularly send payments overseas? Specialised international money transfer services tend to have significantly lower fees and preferable exchange rates compared to the major banks.

Consider multiple bank accounts.

For example, you might use one account with favourable international transaction rates for all your overseas transfers and banking, and have a different account for day-to-day transactions within Australia.

Request electronic statements.

Unprompted, some banks will keep sending you paper statements, and charge a fee for doing so. Check whether you can request e-statements instead to eliminate this cost.

Make sure employees are on board.

If you have employees that use company cards or make transactions on behalf of your business, ensure they know how to minimise fees. For example, you might request that they stick to using ATMs within the bank's network.

Compare accounts often.

Banks regularly make changes to their accounts and the fees they charge for different transactions. Get in the habit of doing a quick comparison of your account against others in the market to make sure you're still getting the best deal.

What are the types of business banking fees?

  • Account-keeping fees. These are charged monthly and can range from $0 to as much as $20.
  • Transaction fees. You might be charged a small amount such as 20 cents for certain online transactions, or a few dollars for in-branch transactions.
  • Annual fees. These are common with business credit cards and could range from $0 to almost $2,000.
  • Loan fees. Business loans may charge pplication and establishment fees, ongoing fees, discharge fees and others.
  • International transaction fees. These can be as high as 4% of the transaction value each time you make an overseas transaction.
  • ATM fees. Some banks will charge a fee if you use an ATM outside of their network. This is espcially common with overseas ATMs.

Frequently Asked Questions

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To make sure you get accurate and helpful information, this guide has been edited by Joelle Grubb and reviewed by Justine Mclean, a member of Finder's Editorial Review Board.
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Written by

Editor

Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full bio

Alison's expertise
Alison has written 626 Finder guides across topics including:
  • Superannuation
  • Savings accounts, bank accounts and term deposits
  • Budgeting and money-saving hacks
  • Managing the cost of living

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  • Auswide Bank Business Access Account

    The Auswide Bank Business Access Account is a business transaction account that lets you earn interest. This account has no minimum balance requirement and a low monthly fee.

  • Suncorp Business Premium Account

    The Suncorp Premium Business Bank Account is a business bank account with no monthly fees, unlimited fee-free transactions and a linked Visa Debit Card.

  • Prospa Business Account

    This is a business bank account with no monthly fees or minimum balance requirements, and a complimentary Prospa Visa Business Debit Card.

  • Business term deposit rates

    Find the best business term deposit rates to help improve your bottom line.

  • Business savings accounts

    A business HISA is a good alternative for a business owner who is not interested in aggressively investing their excess business funds. These allow access to the money when needed, while it works at gaining interest when not.

  • Business bank accounts in Australia

    If you're looking for the best business bank account, the first step is to compare your options. Take a look at a range of business bank accounts here to suit your small business and help with cashflow.

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