Business Banking Guides
Expert advice and comprehensive guides to help you make informed decisions about business banking in New Zealand.
Essential Banking Guides
Getting Started Guide
Everything you need to know about opening your first business bank account in New Zealand.
What you'll learn:
Understanding Banking Fees
Comprehensive breakdown of business banking fees and how to minimize costs.
What you'll learn:
How to Switch Banks
Step-by-step guide to switching your business banking without disruption.
What you'll learn:
Industry-Specific Banking
Specialized banking solutions for different types of businesses and industries.
What you'll learn:
Banking by Business Type
Find specialized banking advice tailored to your specific business structure and industry.
Sole Traders
Banking solutions for individual contractors and freelancers.
Startups
Banking for early-stage companies and new businesses.
SME Banking
Solutions for established small and medium enterprises.
Contractors
Specialized accounts for independent contractors.
Need Personalized Advice?
Our guides cover general scenarios, but every business is unique. Use our comparison tools to find the best banking solution for your specific needs.
Frequently Asked Questions
What documents do I need to open a business bank account?
Typically you'll need: business registration certificate, tax number (IRD), identification for all signatories, proof of business address, and business plan or financial projections for lending products.
How long does it take to open a business account?
Most banks can process applications within 5-10 business days, though this can vary based on business complexity and whether you're applying for additional services like lending or merchant facilities.
Can I use a personal account for business banking?
While legally possible for sole traders, it's not recommended. Business accounts offer better record keeping, professional credibility, and specific features like merchant services and business lending.
What's the difference between transaction and savings accounts?
Transaction accounts are for daily operations with unlimited transfers but lower interest. Business savings accounts offer higher interest rates but may have transfer limitations or fees.