OCTIS vs CommBank vs ANZ vs Airwallex for a business account
Two big four banks against a multi-currency platform. Many businesses use one of each.
Last checked · 4 sources
Otty's short answer
CommBank's Business Transaction Account costs A$0 per month online or A$10 with branch access. ANZ Business Extra is A$10 per month. Both suit day-to-day Australian banking. Airwallex charges A$0 to A$99 per month and 0.5% to 1% FX, and suits a business paying or earning in other currencies. Many keep a bank account and add Airwallex for overseas payments.
Side by side
Swipe to see every column
| What matters | OCTISHong Kong company + OCTIS global plan | CommBank Business Transaction Account | ANZ Business Extra | Airwallex |
|---|---|---|---|---|
| Monthly fee | Set by our licensed partner; quoted before you commit | A$0 online, A$10 branch | A$10 per month | A$0 or A$29; A$99 Grow |
| Assisted transaction | Not an OCTIS product | A$5 each, 5 included on branch option | A$4 each | Not applicable |
| Branch access | Not an OCTIS product | Yes, A$10 option | Yes | No |
| FX markup | Foreign exchange via licensed partners | Not on page | Not on page | 0.5% major, 1% other |
| SWIFT transfer | Collecting and sending payments via licensed partners | Not on page | Not on page | A$10 to A$30 |
| Local AUD transfers | International multi-currency business account via licensed partners | Bank standard | Bank standard | Free to 120+ countries |
| Company cards | Corporate card via licensed partners | Not on page | Business Visa Debit | Up to 10 on Explore |
| Who can open online | At least 10% below any qualifying quote (Lowest Price Guarantee) | Sole trader, Pty Ltd, SMSF | Not on page | By plan |
| Overdraw fee | Not an OCTIS product | A$15 per day | Not on page | Not on page |
| Needs ABN | Not needed for the Hong Kong company; local rules apply if you trade there | Yes | Not on page | Not on page |
If you have staff, premises or local sales in this country, its own registration and tax rules still apply. OCTIS can help you arrange them.
Data sources & disclaimer: Comparison data was compiled from publicly available sources — including the competitors' own published pricing and feature pages — captured on 9 November 2026. Figures reflect the typical or advertised pricing at that time and may have changed since; plans, inclusions and prices vary by provider, region and promotion. OCTIS is independent and not affiliated with the named companies; all trademarks belong to their respective owners. This comparison is provided in good faith for general information only and is not professional, legal or financial advice — please verify current details with each provider before deciding.
Which one fits you
OCTIS · Hong Kong company + OCTIS global plan
Choose OCTIS if you sell to customers in several countries and want company, accounts, banking via partners and CRM in one place.
CommBank Business Transaction Account
Choose CommBank if you want a free online account, cash handling and a large branch network.
ANZ Business Extra
Choose ANZ if you already bank with ANZ and want one provider for account and lending.
Airwallex
Choose Airwallex if you pay suppliers or earn income in foreign currencies and want lower FX margins.
What the table does not show
Fees that matter in daily use
CommBank charges nothing monthly for the online option and A$10 for the branch option, which includes 5 assisted transactions. On the online option every assisted transaction costs A$5. Past the 5 included, branch-option assisted transactions also cost A$5, and QuickCash deposits A$10. ANZ Business Extra is A$10 per month with 5 ANZ transactions included, and staff-assisted deposits are A$4 each per ANZ. Check the fee schedule for your transaction mix.
Overseas payments
The bank pages we read did not state international fees, so request the schedule from each bank. Airwallex lists FX at 0.5% above interbank for major currencies and 1% for others, plus A$10 to A$30 per SWIFT transfer. Third-party guides say fintechs usually win on FX for frequent overseas payments. Those guides are written by vendors, so run your own quote.
Using both
A common setup is a free bank account for tax, payroll and local customers, and a multi-currency account for overseas suppliers or customers. Airwallex is not a bank, so read its terms on how customer funds are protected before moving large balances.
Where OCTIS fits
OCTIS is not a bank and has no partnership with CommBank, ANZ or Airwallex. If your Malaysian or Hong Kong company opens an Australian account for a local subsidiary, OCTIS bookkeeping can reconcile those statements into the home company's books. Ask about 10–30% off your current bill.
Frequently asked questions
Which is the best business bank account in Australia?
It depends on use. For domestic banking, CommBank's A$0 online option or ANZ's A$10 account are common choices. For overseas payments, compare a fintech such as Airwallex.
How much is the CommBank business account fee?
A$0 per month online or A$10 per month in branch, with 5 assisted transactions included in the branch option, per CommBank's page.
How much is ANZ Business Extra?
A$10 per month, per ANZ's fee schedule. It includes 5 ANZ transactions per month.
Can a Pty Ltd open a CommBank account online?
Yes. CommBank says Australian private companies can open online with an ABN, and directors and beneficial owners verify ID.
Is Airwallex a bank?
No. It is a payments platform. Read its terms on fund protection.
Sources
Checked on the date above. Links open the provider's or regulator's own page.