Best business accounts for Nonprofits in Australia
Snapshot
Not for profit organisations in Australia, such as incorporated associations and companies limited by guarantee, can open accounts once the entity is registered. Several major banks offer dedicated not for profit accounts, often with no account keeping fees.
Suits Nonprofits best
Registered associations and charities
Typical monthly fee
Many major bank not for profit accounts carry no account keeping fee
Non resident position
Tied to the registered Australian entity, not the residency of office bearers. Verify with the provider.
Providers that fit
Three reviewed here
Fees and features as of 6 April 2026Last reviewed 6 April 2026
General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.
Not for profit bodies in Australia are usually incorporated associations or companies limited by guarantee. As of 6 April 2026, several major banks offer dedicated not for profit or community accounts that often waive account keeping fees, while fintech eligibility for associations and charities varies. Confirm eligibility and current fees with the provider.
What a nonprofit in Australia needs from a bank account
A not for profit usually opens its account after incorporation, using its certificate of incorporation, a record of the meeting that names the office bearers approved to operate the account, and its ABN. Many committees value no account keeping fees, multiple signatories with approval steps, and simple online banking. Major banks publish not for profit or community accounts for this purpose, while fintech eligibility for associations and charities is not always clear, so verify with the provider.
W
Wise Business
Low cost international payments where the entity qualifies, though eligibility for associations and charities is not always clear. Verify with the provider.
Best for
Nonprofits paying overseas
Monthly fee
No monthly fee, one off A$65 to activate local account details
These providers serve business customers in Australia. Eligibility for not for profit structures varies, so confirm your entity qualifies. Fees shown as of 6 April 2026. Verify current terms with the provider before applying.
Questions about banking for Nonprofits in Australia
What does a nonprofit need to open a bank account in Australia?
An incorporated association or company limited by guarantee usually needs its certificate of incorporation, minutes naming the office bearers approved to operate the account, identity for those signatories, and its ABN. As of 6 April 2026 the exact list varies by provider. Confirm current requirements with the provider.
Are there no fee accounts for nonprofits in Australia?
Several major banks offer not for profit or community accounts that carry no account keeping fees as of 6 April 2026. Conditions and transaction costs still vary by account. Check the current product terms with the provider before applying.
Can a nonprofit use a fintech business account?
It depends. Fintech business accounts are built around registered businesses, and eligibility for associations and charities is not always clear. As of 6 April 2026 you should confirm with the provider whether your not for profit structure qualifies before applying.
Does a nonprofit need an ABN to open an account?
Most providers expect an ABN, and the entity usually applies for an ABN and a TFN soon after incorporation. As of 6 April 2026 some accounts may accept limited cases without one. Verify the requirement with the provider.
Fees, features, and eligibility change and vary by region. This page was last reviewed on 6 April 2026. Confirm current terms with the provider before applying.