NAB Business Everyday Account Review for Australia (2025)
Are you considering opening a NAB Business Everyday Account for your business? As with any decision that relates to your financial management, having a thorough understanding of the services on offer will help you make an informed choice.
In this article, we’ll give a background to NAB, how their business account works, key features, eligibility requirements, regional services, associated costs and timeframes, and their customer support channels.
What is NAB?
The National Australia Bank, otherwise known as NAB, is one of the ‘big four’ banks of Australia. They serve consumers and businesses and offer a range of digital banking products to allow customers to easily track, send and receive payments.
NAB operates in Australia, New Zealand and Asia, and has over 7000 ATMs. NAB’s main offering to businesses is their NAB Business Everyday Account.
Find out for yourself how NAB compares to Airwallex.
NAB Business Everyday Account key features and products
Eligibility: NAB’s Business Everyday Account is available to businesses, trusts and partnerships. Business owners can apply online or via one of their 780 branches in Australia.
Digital and Physical Account Management: Being one of the ‘big four’ banks, NAB has over 700 branches across Australia, giving users the ability to access in-person support and staff-assisted transactions. They offer a variety of physical methods of transacting which include ATM transactions, assisted deposits, withdrawals or cheques and EFTPOS transactions.
For businesses that prefer digital operations, they offer electronic transactions, mobile cheques through their app and other in-app features to support local transactions. However, their international offerings are limited as this account is not designed for businesses to transact with global suppliers, vendors and clients.
Cards: NAB offers a Business Visa Debit Card to the business owner. There are no additional cards available for employees to manage additional expenses.
Support: NAB offers local support in branch and online. They have a small business hub with resources to help guide business owners, online interpreters and an Indigenous customer service line.
NAB Ecosystem: While the NAB Business Everyday Account does not allow users to earn interest, users can apply for additional cash management accounts like the NAB Business Cash Maximiser Account.
NAB Business Everyday Account Pricing & Fees
Now how much does the NAB Business Everyday Account cost to use? See the table below for the main fees and charges you need to know about.
Transaction Type | CommBank Fees |
|---|---|
Account Maintenance | Commbank Business Transaction Account has 2 pricing options: 1. $0 for businesses that bank online. $3 per staff-assisted transaction. 2. $10/month for those who bank regularly in-branch. 20 free staff-assisted transactions included. 1 |
Transaction Fees | NAB offers free local electronic and NAB ATM transactions. For international transactions, there is a 3% charge on both single currency and multi-currency funds. |
Additional Fees | NAB charges $3 per transaction for the following methods: - Banker assisted deposit, withdrawal or cheque - Express deposits or coin machine - Cheques written - Cheques and items lodged with deposit via EBD or ECD Cheque items incur an additional $3 on top of the $3 fee per transaction. For overseas withdrawal, there's a charge of $4 per withdrawal. |
FX Currency Conversion | 2% applies to withdrawals made in foreign currencies. On top of the 3% international transaction fee, an exchange rate mark-up is added which varies based on currency and location. |
Card Fees | Free Business Visa debit card. No employee cards available |
What do you need to open a NAB Business Everyday Account?
In order to open and use a NAB Business Everyday Account, businesses will need to supply documents to verify the account owner and the business.
Applicants can open an account online or in-branch.
Exploring alternatives to NAB? Consider Airwallex.
There are other compelling options beyond the ‘big four’ when it comes to business accounts.
An Airwallex Business Account provides businesses with similar benefits of the NAB business account. However, Airwallex offers products and services that are built specifically for businesses. Our Business Account is not only built for everyday business transactions, it’s designed to make managing, growing and moving your business funds globally simple.
Move money locally and globally
Expand business potential and slash the costs of spending at home and abroad.
Open accounts in 60+ countries without needing a local entity
Transfer to 150+ countries with market-leading FX rates, and enjoy free local transfers
Accept payments from 130+ countries and maximise online selling with smart plugins and payment links
Manage money easily
Slash admin and reduce human error with our centralised tools that simplify financial operations.
Issue corporate Visa cards for FX-free global spending.
Enjoy smart integrations with popular accounting platforms like Xero and Netsuite
Grow money effortlessly
Make every dollar work harder with our unique business savings solution.
Grow funds with our high-rate business saver Yield, empowering businesses to earn competitive returns in AUD and USD
Looking for even more? Beyond our Business Account businesses can explore our advanced Spend Management tools and Platform APIs.
Airwallex is designed for businesses with global reach in suppliers, vendors and customers. Its end-to-end financial solution empowers businesses to replace traditional solutions and clunky tech stacks for a single powerful platform.
Learn more about NAB vs Airwallex.
How to open a business account with Airwallex
The best way to get started with us is to sign up for our Business Account. Just fill out a few simple details.
Once you’re signed up, you can start opening multiple domestic and foreign currency accounts in minutes. Our platform is intuitive and built for getting started quickly. Additional assistance is also available from our friendly local support team.
Open a business account in minutes
Sources
https://www.nab.com.au/business/business-bank-accounts/transaction-accounts/no-monthly-fee-business-account
https://www.nab.com.au/business/business-bank-accounts/transaction-accounts/low-fee-business-account
https://www.nab.com.au/important-information/business/banking-fees-charges
https://www.nab.com.au/content/dam/nab/documents/rates-and-fees/banking/nab-business-banking-guide-to-fees-charges.pdf
Disclaimer: The information in this article is based on our own online research. Airwallex was not able to manually test each tool or provider. The information is provided for educational purposes only and a reader should consider the specific requirements of their business when evaluating providers. This research is reviewed annually. If you would like to request an update, feel free to contact us at [[email protected]].
This information doesn’t take into account your objectives, financial situation, or needs. If you are a customer of Airwallex Pty Ltd (ACN 609 653 312, AFSL No. 487221), it is important for you to read the Product Disclosure Statement (PDS) for the Direct Services, available here. If you are a customer of Airwallex Capital Pty Ltd (ACN 661 618 819, AFSL No. 549026), it is important for you to read the PDS for Airwallex Yield, available at www.airwallex.com/au/terms and issued by K2 Asset Management Ltd (ABN 95 085 445 094, AFSL No. 244 393), a wholly-owned subsidiary of K2 Asset Management Holdings Ltd. All investments carry risk.
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Vanessa is a business finance writer for Airwallex. With experience working at leading B2B technology companies, Vanessa is passionate about helping Aussie businesses, large and small, grow through cutting-edge tech. In her day-to-day, she breaks down complex tech jargon to help businesses streamline their end-to-end financial operations.
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