Switch your business transaction accounts

Changing banks might sound hard, especially when you're busy running a business, but switching your business accounts to Westpac can be easy if you follow these simple steps.

1. Open a new account – choose the Westpac account that suits you and apply. If you need more information read about our business accounts.

2. Contact your service providers/customers – once your new account is ready, if you have any existing direct debits (eg utility bills) or direct credits (eg customer payments) notify the providers or customers of your new account details.

For contact details of your service providers, look on your bills or search the white pages.

If you need to provide your new account details in writing, our online form can help you generate the letters required, which you can then print and send to your service providers.

3. Redirect any periodical payments – if you have any fixed payments from your old bank account you will need to cancel these by contacting your previous financial institution.

You can then set up periodical payments on your new account through our Business Online service, or by calling Business Telephone Banking on 132 142.

4. Set up staff payments – once you've opened an account, staff wages and salaries can be set up through Business Online, or by calling Business Telephone Banking on 132 142.

5. Close your old account(s) – ensure you have sufficient funds to cover any outstanding direct debits or unpresented cheques. Then conduct a reconciliation with your old and new account before contacting your previous financial institution to close your old account.

Frequently asked questions
If you want to know more, read the answers to our most frequently asked questions.

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