Compare business transaction accounts
Monthly account fee, transaction fees, the included transaction allowance, interest paid and eligibility for 11 business accounts from 7 issuers. No issuer publishes whether its fees include GST, so every fee is recorded as not-published rather than assumed: a column that mixed GST-inclusive and GST-exclusive quotes would overstate one by 15%.
Read from each issuer's own pages · The oldest figure here was read 38 days ago.How we compare How business accounts are priced
Eligibility does more work here than price. One requires a New Zealand resident director, and one caps turnover at a published limit of $5 million. None of the banks publish whether their quoted fees include GST, so every figure here is recorded exactly as published.
11 business transaction accounts from 7 banks, as published on their own fee pages.
6 of 11charge no monthly account fee at all. The rest charge between $4 and $8.50 a month, and 3 waive that for the first two years.
3 accountsbundle a transaction allowance instead: from 25 branch deposits to 200 transactions a month, then a per-item charge.
3of the cheapest accounts here are restricted to non-profits, schools or clubs. Eligibility is a column, not a footnote.
No GSTposition is published by any bank on this list, so every fee is recorded exactly as published rather than adjusted.
11 of 11 accounts
Not checked: we have not read this figure yet. None: the issuer publishes that there is no such fee. Not published: the issuer does not publish this figure. Not offered: the provider does not offer that market or product. * Details and conditions are in the expanded row.
How to choose a business transaction account
Business accounts split into two shapes. One charges a monthly fee and includes a transaction allowance, which suits a business with steady, predictable volume. The other charges no monthly fee and no transaction fees at all, which suits low volume or a business that would never use the allowance.
No issuer on this list publishes whether its fees include GST, so every fee here is recorded as published rather than adjusted. A column that mixed GST-inclusive and GST-exclusive quotes would overstate one of them by 15%.
Three things to check before you open one
An included allowance counts transactions you may not make
200 included transactions is worth nothing to a business making thirty. Count a typical month before paying for an allowance.
Fee waivers are usually introductory
One account here waives its fee for the first two years under a start-up package. The fee is what you pay in year three.
Eligibility is narrower than it looks
Several of the cheapest accounts on this list are restricted to non-profits, schools or clubs, and one requires a resident director.
Common questions
Are these fees GST-inclusive?
Unknown, and deliberately not assumed. No issuer here publishes it, so each figure is recorded exactly as published.
What counts as a transaction?
It differs by issuer. Where one publishes the distinction between automated and manual transactions, it is in the detail panel on that row.
Does paying you move an account up the table?
No. Nothing on this page is paid for, and the order is whichever column you sorted on.
Can a sole trader use these?
Some, not all. The eligibility column states what each issuer publishes, and the detail panel carries the wording where it is more specific.
Run the numbers
GST calculator
Add or strip GST from any of these fees before you compare them.