Skip to content
English - Australia
Contact us
  • There are no suggestions because the search field is empty.

What is the Afirmo Business Wallet?

The Afirmo Business Wallet is an optional sub-account within a BNZ trust account that can be managed through Afirmo.

It is designed to help keep money for tax and other business purposes separate from an everyday bank account.

You can use Wallet sub-accounts to separate funds for:

  • income tax;
  • GST;
  • operating cash; and
  • other business purposes.

You can also give Afirmo one standing authorisation to pay GST and income tax from the Wallet to Inland Revenue. Once this authorisation is in place, you do not need to approve each eligible tax payment separately.

How is it different from a normal bank account?

The Business Wallet is not a normal day-to-day bank account. It is a separation tool within a BNZ trust-account structure.

The Wallet does not earn interest. Use a normal bank account for everyday business spending and consider the Wallet if you want to keep tax or other funds separate.

Is the Wallet compulsory?

No. The Business Wallet is optional. You can use Afirmo without opening one.

An AML identity check is required before a Business Wallet can be opened. To begin, go to Money > Summary in Afirmo and follow the Business Wallet setup prompt.