Best business accounts for LLC and Corporations in Australia
Snapshot
Australia does not use the LLC structure. The closest equivalent is the proprietary limited company, written Pty Ltd, and the public company. A registered company can open a business account in its own name once it holds an ACN and an ABN.
Suits LLC and Corporations best
Companies that trade or pay across currencies
Typical monthly fee
From no monthly fee to about A$149 a month by plan
Non resident position
Possible where the company is registered in Australia. Some banks want at least one resident director. Verify with the provider.
Providers that fit
Three reviewed here
Fees and features as of 13 March 2026Last reviewed 13 March 2026
General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.
If you are coming from a country that uses LLCs, the Australian equivalent is the Pty Ltd company. As of 13 March 2026, a registered Australian company can open an account with Wise Business, Airwallex or Revolut Business in the company name. Each verifies directors and beneficial owners. Compare current fees and features before choosing.
What a company in Australia needs from a business account
A company account in Australia is opened in the registered company name, not a personal name, so the account follows the ACN and ABN of the entity. Banks and fintechs verify the directors and the beneficial owners. Companies that pay overseas suppliers or bill in several currencies often weigh international costs more heavily than the monthly fee. Confirm current terms with the provider.
W
Wise Business
No monthly fee and transparent conversion, opened in the company name, but no lending or branch network.
Best for
Companies paying overseas
Monthly fee
No monthly fee, one off A$65 to activate local account details
Compare accounts for LLC and Corporations in Australia
These providers accept registered Australian companies. Fees and eligibility shown as of 13 March 2026. Confirm current terms with the provider before applying.
Questions about banking for LLC and Corporations in Australia
Does Australia have LLCs?
No. Australia does not use the LLC form. The common equivalent is the proprietary limited company, written Pty Ltd, registered with ASIC. A company opens a business account in its registered name once it holds an ACN and an ABN. Information shown as of 13 March 2026. Verify with the provider.
What does a company need to open a business account in Australia?
A registered company usually needs its ACN, its ABN, and identity verification for directors and beneficial owners. The account is opened in the company name. As of 13 March 2026, fintech accounts can onboard online while major banks may require more steps. Confirm current requirements with the provider.
Can a foreign owned Australian company open these accounts?
Often yes, where the company is registered in Australia with an Australian address, although some banks want at least one resident director and identity checks can take longer. As of 13 March 2026 the position varies by provider, so verify eligibility with the provider before applying.
Is there a no monthly fee account for a company?
Yes. Wise Business charges no monthly fee as of 13 March 2026, with a one off A$65 to activate local account details. Airwallex can waive its A$29 Explore fee where deposit or balance conditions are met. Verify current figures with the provider.
Fees, features, and eligibility change and vary by region. This page was last reviewed on 13 March 2026. Confirm current terms with the provider before applying.