Several business accounts in Australia have a no monthly fee option as of 2 April 2026, including some major bank transaction accounts and fintech accounts such as Wise Business and Airwallex. Free usually means no monthly fee, not no fees at all, since transaction and currency costs can still apply.
- No monthly fee options
- Yes, including Wise Business, Airwallex Explore where conditions are met, and some major bank transaction accounts
- What still costs
- Per transaction, cash handling and currency conversion fees can apply
- Can a non resident open
- Possible where the business is registered in Australia. Verify with the provider.
- Most providers
- Multiple business accounts
General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.
What free means for a business account in Australia
A no monthly fee account removes the recurring account charge, but other fees can remain. Per transaction fees may apply to in person, cash and some electronic payments. Currency conversion carries a margin on international payments. So a free headline can still cost money depending on how you trade. Compare the fee layer that matches your activity rather than the monthly price alone.
Accounts with no monthly fee
As of 2 April 2026, Wise Business charges no monthly fee, with a one off A$65 to activate local account details. Airwallex offers a A$0 Explore plan where you deposit at least A$5,000 in a month or hold at least A$10,000 across the wallet and yield balance, otherwise A$29 a month. Some major bank business transaction accounts also publish a no monthly fee option. Verify current figures with each provider.
Costs that can still apply
Even on a free account, expect possible per transaction fees, cash handling fees, and a currency conversion margin on international payments. As of 2 April 2026, Wise Business converts from about 0.63 percent and Airwallex applies about 0.5 to 1 percent. Confirm the current rate card with the provider.
What to check before you call an account free
When an account is described as free in Australia, check these points, as of 2 April 2026. Verify with the provider
- Whether the no monthly fee is unconditional or depends on a minimum deposit or balance.
- Per transaction fees for in person, cash and electronic payments.
- The currency conversion margin and any transfer fees on international payments.
How to compare free accounts
- List how you actually transact, including monthly volume, cash use and international payments.
- Check whether any no monthly fee comes with conditions you can meet each month.
- Compare the per transaction and international costs, not just the zero monthly headline, and confirm with the provider before you apply.
Compare business accounts available in Australia
These providers accept business customers in Australia and include no monthly fee options. Fees and eligibility shown as of 2 April 2026. Confirm current terms with the provider before applying.
Compare business accounts →Questions about business banking in Australia
Is there a truly free business account in Australia?
Does Wise Business have a monthly fee in Australia?
How does Airwallex offer a free plan?
Do free accounts charge for international payments?
Fees, features, and eligibility change and vary by region. This page was last reviewed on 2 April 2026. Confirm current terms with the provider before applying.