Deposit Accounts for Business Customers Terms and Conditions (PDF 368KB)
Business Debit Mastercard® Terms and Conditions (PDF 2MB)
To be eligible to apply for Business One account, your business must be registered in Australia.
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. Westpac’s normal lending criteria applies. Fees and charges apply and are available on request.
4. 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.
5. 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
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.
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.
Online Banking Terms and Conditions
Credit criteria, fees, charges, terms and conditions apply. Talk to your banker for product details.
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