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Business transaction accounts

Receive, manage and monitor your business income; bank in branch; and make payments by debit card and through online, phone and mobile banking.

Image of two start up business owners who have bank accounts.

For businesses that mainly transact electronically

Business One Low Plan

  • $10 monthly plan fee
  • Unlimited electronic transactions1
  • 25 free staff-assisted and cheque transactions per month
  • Reduce the time you spend on accounting tasks by connecting your bank feed.
Image of small business owners checking their online banking.

For businesses with a high number of transactions

Business One High Plan

  • $20 monthly plan fee
  • Unlimited electronic transactions1
  • 60 free staff-assisted and cheque transactions per month
  • Reduce the time you spend on accounting tasks by connecting your bank feed.
Image of a shop owner who has a business bank account.

Pay as you go account with no monthly fee

Business One Flexi

  • $0 monthly fee
  • $0.50 per electronic transaction
  • Pay as you go fee structure, meaning you only pay for the transactions you make.
  • Reduce the time you spend on accounting tasks by connecting your bank feed.

Apply online, then complete an in-branch ID check to access funds.

These business bank accounts are designed for sole traders, partnerships, companies, associations, SMSFs and trusts; plus not-for-profits that require an overdraft facility.

Other accounts

Foreign Currency Accounts for businesses that earn and/or pay overseas

Send, receive and hold currencies in one place – and convert funds when it suits you.

  • No monthly account maintenance fee
  • Make and receive payments in another currency without converting to AUD
  • Accounts available in a range of foreign currencies
  • Make and view transactions in Online Banking.

Specialised accounts for non-profits, conveyancers, real estate agents and solicitors

  • Statutory Trust Accounts
    Special bank accounts that comply with statutory requirements for those holding funds on behalf of clients.

Savings accounts to help you set funds aside for future needs

ID and documents required

Most types of business - plus trusts, not-for-profits and associations - can open most Westpac business accounts online.

New customers with two or more signatories will need an ID and document check in branch before they can start making payments from their account.

Find out what information we need from new customers

Frequently asked questions

Depending on your business structure (such as ‘sole trader’), you may not be required to have a business bank account – but it could be a good idea to consider getting one. Read our 4 reasons to separate business banking from personal article to find out why. 


Please note there are certain business structures (such as ‘limited liability company’ and ‘corporation’) that are required to have a separate bank account for tax purposes.

Things you should know

Deposit Accounts for Business Customers Terms and Conditions (PDF 11MB)

Business Debit Mastercard® Terms and Conditions (PDF 423KB)

Important information for Westpac business account customers - 19 December 2018 (PDF 29KB)

Foreign Currency Account Terms & Conditions (PDF 291KB)

International Products and Services Standard Fees (PDF 82KB)

Online Banking Terms and Conditions (PDF 236KB)

Find out what information you need to provide to become a Westpac customer.


This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement and consider whether the product or service is right for you.


Select the 'Find out more' buttons to check your eligibility for any of our transaction accounts.


Westpac Community Solutions Cheque Account is available for not-for-profit organisations including companies operating on a non profit or charitable basis. Westpac reserves the right, with at least 30 days written notice, to change the account to a Westpac Business One - Low Plan if it considers that the account is being used for profit-making purposes.


A Foreign Currency Account should not be used to speculate on foreign currencies or to conduct frequent trading of foreign currencies. A Foreign Currency Account is not an account to assist with travel needs. It cannot be linked to a Travel Money card and you cannot access your Foreign Currency Account through an ATM, either within Australia or overseas. You cannot withdraw or deposit foreign notes or coins into a Foreign Currency Account. Deposits held in Foreign Currency Accounts are not covered by the Australian Government’s Financial Claims Scheme.


1. Fees may be incurred for certain electronic transactions such as foreign transactions and withdrawals from some overseas ATMs. Customers must be able to meet any applicable fees and charges. For a complete view of fees, please refer to our Terms and Conditions (PDF 11MB).