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Short Term Finance Comparison

	Business Overdraft	Westpac Business One Loan	Business Credit Cards
Key features
Type	Revolving line of credit.	Combines working capital, seasonal finance and long term debt in one convenient account.	Revolving and Non Revolving Credit cards (also called Charge Cards)
Purpose	Cashflow management.	A flexible finance solution that meets your cashflow and long term finance needs in one account.	A financial solution to meet day to day expenses with multiple card access. (Enjoy Interest Free days with the Non Revolving Credit Card)
Maximum and minimum	Minimum $1	Minimum $100,000 No maximum	Minimum $1000 per card Maximum across all cards up to $50,000, dependant on card
Security	Can be unsecured or secured by various types of security, including residential, commercial or rural property or business assets.	Any security accepted by Westpac	Not required.
Term	No minimum. Maximum 12 months – subject to annual review	No minimum, maximum dependant on security type: Up to 25 years for residential Up to 15 years for commercial Up to 10 years for other security	Normal Minimum 12 months no Maximum- subject to periodical review
Interest Rate Type	Variable interest rate, calculated daily and charged monthly on amount used.	Variable interest rate, based on the Bank Bill rate, calculated daily and charged monthly on amount used.	Variable
Repayment Terms	No fixed or minimum monthly repayment arrangements.	A range or repayment options and the flexibility to redraw and vary your repayments.	For revolving credit card pay minimum of 3% of balance each month and for non revolving credit card pay in full each month
Ways to Access Your Account	Internet and Phone Banking, ATM's, EFTPOS, Cheques, Branch	Full transaction access	Branch, ATM, Phone Banking
Fees and Charges
Establishment Fee	Price on Application	Establishment fees apply $820 + 0.6% >$100k	Annual Fee per card: -Revolving Credit Card $60 Non Revolving Credit Card $75
Monthly Fee	Price on Application	Loan service fee $100 per month, charged quarterly in arrears
Account Transaction Fees	Apply	None	None
Other Fees			Foreign Currency Fee 1.5% plus applicable scheme fee* Late Payment fee $35 Over limit Fee $35 Duplicate Statement $7.50 Cash Advance $2.50 per transaction subject to a max of $150
Interest rates	Click here for Business finance rates	Click here for Business finance rates	Compare business credit cards
Packages
Business Package * A margin may apply	Business Choices	Business Choices	Business Choices
Business Package * A margin may apply
	Business Overdraft	Westpac Business One Loan	Business Credit Cards

*Credit card schemes also charge fees when processing credit card transactions made in foreign currences. The fees are either charged during the process of converting the foreign currency into Australian dollars, or are charged separately to Westpac and passed onto you by us. The fees vary depending on the applicable credit card scheme:
- Visa International Service Assessment Fee- 1.0%
-MasterCard Issuer Cross-border Assessment- 0.8% and
MasterCard Currency Conversion Assessment- 0.2%
-American Express Foreign Exchange Coversion Fee- 1.5%