Business One - High Plan
Why a Business One - High Plan?
Unlimited electronic transactions
60 free staff-assisted and cheque transactions per month
View up to 7 years of eStatements history
No ATM withdrawal fee at over 10,000 Australian ATMs and over 50,000 ATMs globally via the Global ATM Alliance1. Other fees may apply.
Link your account to a Business Debit Mastercard®2
Complimentary invoicing tool3- Biz Invoice lets you create, send and reconcile invoices on your mobile – and you can now accept credit card payments using BPAY®.
With Business One - High Plan you also get
The best major digital business bank
Over 20,000 Australian businesses had their say and agreed that Westpac is the Best Major Digital Business Bank4.
Bank Feeds
Link your account balances and transactions to your accounting software5, such as MYOB®, XEROTM or Quickbooks®.
Biz Invoice
Linked to your account, Biz Invoice lets you create, send and reconcile invoices on your mobile –and now eligible sole traders6 can let customers make credit card payments by setting up BPAY®.
Westpac Protect™ Security Guarantee
If your Westpac account is compromised as a result of Internet fraud, we guarantee to repay any missing funds, providing you comply with our Online Banking Terms and Conditions.
Rates and fees
| Fee | Amount |
|---|---|
| Cheques - deposited or collected (additional deposit fee may apply) | $0.50 per cheque |
| Withdrawal or deposit at branch | $1.00 |
| Narrated credits | $1.00 |
| Fee | Amount |
|---|---|
| Electronic transactions | $0 |
| Non-Westpac/St.George/Bank of Melbourne/BankSA branded ATMs within Australia (cash withdrawals or balance enquiries). An ATM operator fee (disclosed at the time of the transaction) may be applied by the ATM owner. | $0 |
| Overseas ATM cash withdrawals (An overseas bank surcharge may also apply). | $5.00 or nil for cash withdrawals from ATMs belonging to institutions in the Global ATM Alliance. |
| Overseas ATM balance enquiry | $0 |
| Westpac Foreign Transaction Fee | The amount charged is dependent on the nature of the transaction, as set out below. |
| Fee | Amount |
|---|---|
| Non-Westpac/St.George/Bank of Melbourne/BankSA branded ATMs within Australia (cash withdrawals or balance enquiries). An ATM operator fee (disclosed at the time of the transaction) may be applied by the ATM owner. | $0.00 |
| Business Telephone Banking | 20 free enquiries per month, then fees as disclosed below. |
| Business Online Banking | Free |
Interest is calculated daily and paid monthly. Interest rates are current as at 23 August 2016.
Interest rates p.a.
| Amount | Rate1 |
|---|---|
| $0 - $1,999 | 0% |
| $2,000 - $4,999 | 0.01% |
| $5000 - $9,999 | 0.01% |
| $10,000 - $19,999 | 0.01% |
| $20,000 - $49,999 | 0.01% |
| $50,000 - $99,999 | 0.01% |
| $100,000 - $249,999 | 0.01% |
| $250,000 - $499,999 | 0.05% |
| $500,000 plus | 0.05% |
Optional extras with your Business One - High Plan
Now it’s easier to get paid
With the Biz Invoice invoicing tool, you can now accept credit card payments using BPAY®.
Terms, conditions and eligibility apply Find out more
Need help finding the right account
Learn more about
Contact us
- Give us a call on 132 142
8am - 8pm, Mon - Fri (Sydney Time) - Find a branch
Things you should know
Deposit Accounts for Business Customers Terms and Conditions (PDF 384KB)
Business Debit Mastercard® Terms and Conditions (PDF 139KB)
^Account opening criteria applies.
1.Global ATM: A 3% Westpac Foreign Transaction Fee applies to overseas debit or credit card withdrawals. A 2% cash advance fee applies to credit card withdrawals where the "Credit" option is selected. A list of Global Alliance members is available. It is important to know that the functionality to withdraw money from a linked Westpac account via Credit Card is not available when using overseas ATMs, including Global Alliance ATMs. To ensure access to Savings and or Cheque account funds when overseas please speak to us about obtaining a Debit Mastercard®
2. Business Debit Mastercard® holders need to be at least 18 years of age, and other eligibility criteria apply.
3. To be eligible for Biz Invoice you must you must be registered for Online Banking and hold a Westpac Business One Low Plan or Business One High Plan account. 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 at www.westpac.com.au/business-banking/online-banking/ and https://www.westpac.com.au/business-banking/bank-accounts/, before deciding.
4. Westpac Live was named Best Digital Platform at the Australian Business Banking Awards 2018. Westpac’s Online Banking is subject to terms and conditions and may be subject to fees and charges. 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 before deciding. Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.
5. Read the Westpac Online Banking Terms and Conditions (PDF 283KB) (PDF 1MB) before making a decision. Not all accounts are eligible to be included in a feed. These can include loan accounts and accounts requiring multiple authorisations for transactions. Bank Feed must be set up with Third Party Service Provider before it can be connected in Westpac Live. If your Third Party Service Provider does not appear in the drop down menu in Westpac Live, you may need to check that your provider is registered with Westpac. Should there be any changes in your user access or network access levels, you may need to disconnect your Bank Feed(s) as any access changes will not impact bank feeds. The products and services offered by these Third Party Service Providers may be subject to terms and conditions and fees and charges. Westpac does not guarantee or endorse the services or products offered by these Third Party Service Providers.
6. BPAY Eligible Account Holders: To be eligible to set up BPAY Payments with Biz Invoice you must be registered for Online Banking and be a Sole Trader who is the sole owner of the Westpac Business One Low Plan or Business One High Plan account to which Biz Invoice is linked. 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 Biz Invoice BPAY Sub-Biller Agreement Terms and Conditions (PDF 104KB) and Direct Debit Request including the Direct Debit Request Service Agreement (PDF 36KB), before deciding. Terms, conditions, fees, charges and eligibility apply. Full details are available on application.
7. A deposit to an account with two cheques will count as three transactions, one for the deposit (depending on the channel used) and one for each cheque lodged because each item requires individual processing.
8. Narrated credits are branch transactions using a serial number encoded deposit slip designed to allow you to identify the deposit from the serial number used.
9. Westpac’s normal lending criteria applies. Fees and charges apply and are available on request.
Before making a decision about any of our products or services, please read all the terms and conditions. Fees and charges apply and may change.
Find out what information you need to provide to become a customer.
Overseas ATM cash withdrawal surcharges
Some overseas banks may also apply a surcharge to withdrawals from their ATMs. This should be drawn to your attention before you proceed with your transaction. This surcharge amount will be added to your withdrawal amount, converted to Australian dollars and debited to your account as one transaction. Details of how to access your accounts via an ATM whilst overseas, and of the participating institutions in the Global ATM Alliance, are available in the 'A banking guide for overseas travel' brochure. Visit your local branch, call Business Telephone Banking for further details or sign in to www.westpac.com.au/business.
Westpac Foreign Transaction Fee
This fee will be incorporated into the $AUD transaction amount shown on your statement. The fee charged will either be:
(a) 3% of the $AUD transaction amount where a transaction is made in foreign currency and the merchant or financial institution accepting the card is located outside of Australia (comprising of 2% Westpac Processing Fee plus 1% Westpac On-Charged Scheme Fee);
(b) 2.2% of the $AUD transaction amount where a transaction is made in foreign currency or the merchant or financial institution accepting the card is located in Australia (comprising of 2% Westpac Processing Fee plus a Westpac On-Charged Scheme Fee of 0.2%).
Business Telephone Banking enquiries - Low or High
Account enquiries include balance enquiries and obtaining the details of a deposit or withdrawal. 20 free enquiries per month, then: $0.25 for self service and $0.65 for staff assisted (does not apply if the minimum monthly balance in the account is greater than $5,000 or a minimum $5,000 overdraft exists). An account balance enquiry received immediately after, and as part of, a withdrawal transaction is exempt from fees and does not count towards the monthly number of free transactions.
World Mastercard®, Mastercard® and the Mastercard brand mark are registered trademarks, and PayPass is a trademark of Mastercard International Incorporated.
BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.