Business Cash Reserve savings account
Get a 2.54% p.a. bonus rate on your business savings
Team your business transaction account with a new Business Cash Reserve savings account and receive an introductory fixed interest rate^ of 2.54% p.a. for the first 5 months on balances up to $9,999.
New Business Cash Reserve customers only
What can I use a business savings account for?
- Help support your business’ cash flow
- Set aside income tax and GST for BAS time
- Save for new vehicles, equipment or technology
- Store surplus income to help fund future growth
Benefits for your business
No account-keeping fees
Earn interest on your surplus funds, noting that zero interest rates may apply from time to time.1
$0 linked account transfers
Move cash to and from your Westpac transaction account via Online Banking or the Westpac App.
Access your money 24/7
Get access to your savings at anytime, anywhere. Access to funds subject to system availability.
Simplify your accounting
Connect banking software like Xero, MYOB, and others to your savings account with a bank feed.2
Can I open a business savings account online?
What to take if you’re applying in branch
For your security, we’re required to check your ID and other documents before you can open a business account. Unsure of your business structure? Find out using your business registration.
How your savings are protected
Interest rates and fees
Interest is calculated daily and paid monthly3. Rates are current as at 3rd November 2023 and are subject to change at any time.
Amount | Variable base rates p.a. | Plus a fixed introductory bonus rate p.a. for the first 5 months |
---|---|---|
$0 to $9,999 | 0.01% | 2.54% |
Above $9,999 to $19,999 | 1.35% | - |
Above $19,999 to $49,999 | 1.35% | - |
Above $49,999 to $99,999 | 1.35% | - |
Above $99,999 to $499,999 | 1.35% | - |
Above $499,999 and over | 1.35% | - |
Business tools and support
Things you should know
Bank feeds must be set up with third-party service provider before it can be connected in Westpac Online Banking. If your third-party service provider doesn’t appear in the drop-down menu in Westpac Online Banking, you may need to check that your third-party service provider is registered with Westpac. Should there be any changes to your user access or network access levels, you may need to disconnect your bank feed(s) as any access changes won’t impact bank feeds. The products and services offered by third-party service providers are subject to their own terms and conditions and fees and charges. Westpac doesn’t guarantee or endorse the services or products offered by third-party service providers.
3. Safe Online Banking guarantee ensures that customers will be reimbursed for any unauthorised transactions provided that the customer has not contributed to the loss and contacted Westpac promptly. Refer to the Westpac Online Banking Terms and Conditions (PDF 417KB) for full details, including when a customer will be liable.
*Business One Plus exclusive special offers: Total partner value has been calculated assuming you take up all partner offers for the entire offer period. Where applicable, we have used the highest subscription offered and for Samsung, an initial purchase of $4,000, followed by a subsequent $1,000 purchase. For Uber, an annual spend of $1,000 is considered.
^Introductory fixed bonus rate:
- Bonus offer available from 20/11/2023 for a limited time only for new Business Cash Reserve accounts who have never held a Business Cash Reserve account before.
- Not available for all customers who are relationship managed. If you’re experiencing issues with getting this bonus offer, please contact a Westpac branch.
- Not available in conjunction with any other offer unless we determine otherwise.
- We reserve the right to withdraw, amend or extend this offer at any time.