What is NAB?
National Australia Bank, or NAB, is one of Australia's "Big Four" banks alongside Commonwealth Bank, Westpac, and ANZ. It serves millions of personal and business customers across Australia, with a network of over 700 branches and 7,000+ ATMs.
For business customers, NAB offers transaction accounts, savings products, credit cards, lending facilities, and digital tools designed to simplify financial management. Their main business transaction product is the NAB Business Everyday Account, available in 2 variants: a $0 monthly-fee option and a $10 monthly-fee option.
What is the NAB Business Everyday Account?
The NAB Business Everyday Account is NAB's primary business transaction account, designed for businesses that do most of their banking online and make relatively few in-branch or cash transactions. It's built around a simple principle: you only pay for what you actually use.
The account supports EFTPOS, BPAY, direct debits, PayID, and international transfers, and integrates with popular accounting platforms including Xero, MYOB, and Reckon. It's available to sole traders, partnerships, trusts, and Australian private companies, making it one of the more broadly accessible business accounts among the Big Four.
NAB Business Everyday Account key features
This NAB business bank account review wouldn't be complete without a close look at what the $0 monthly fee option actually offers.
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NAB Business Everyday Account fees
The $0 monthly fee option keeps standard electronic transaction costs at zero, but fees apply for assisted or physical banking services. Here's what to expect.
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If you regularly make 4 or more assisted transactions a month, the AUD $10 monthly fee option may work out cheaper, as it includes 15 free eligible transactions per month.
NAB Business Everyday Account pros and cons
Before making a decision, it helps to weigh the key advantages and limitations.
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Who is eligible? / eligibility requirements
To be eligible, you must be at least 18 years old, an Australian resident for tax purposes, and operating as a sole trader, partner, company director, or trustee of a trust. Your ABN or ACN must be active at the time of application, unless you are a sole trader with no registered ABN.
Documents required to open the account
New NAB customers need at least 2 forms of ID, such as an Australian passport, driver's licence, or Medicare card, plus their business name, address, and ABN or ACN. For private companies registered with ASIC, an ACN is required, and details of all directors, beneficial owners, and trustees must be confirmed.
How to open an NAB Business Everyday Account (step-by-step)
The online application takes as little as 10 minutes. Keep your identification documents and business registration details handy before you start.
Once submitted, NAB will send a confirmation email, and your account details will follow within 1 to 2 business days if no further verification is needed. If additional verification is required, NAB will contact you directly before opening the account.
NAB business banking support
Business banking specialists are available by phone Monday to Friday, 8:00 am to 8:00 pm AEST/AEDT, and on weekends from 9:00 am to 6:00 pm. You can also contact NAB through secure in-app calling, NAB Messaging via Internet Banking, or in person at one of the 700+ branches across Australia.
You can also request a callback directly through the website. This is particularly useful when setting up payroll, configuring multi-user access on NAB Connect, or working through a lending application.
Alternatives to NAB for business banking
If this NAB business bank account review has you feeling like the account covers the basics but falls short on international payments, multi-currency management, or modern spend controls, it's worth exploring purpose-built alternatives, particularly if your business operates globally.
We built Aspire specifically for growth-minded founders who need more than a traditional bank account. With Aspire, you get multi-currency wallets, competitive FX rates, expense management tools, and smart spend controls, all in one platform designed to scale with your business.
Unlike a traditional bank account, Aspire is built from the ground up for businesses that move fast, operate across borders, and need financial infrastructure that keeps pace with growth. Use this NAB business bank account review as your benchmark, and see how Aspire compares.
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