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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®5.

With Business One - High Plan you also get

Receive payments near instantly4

Our business bank accounts offer some of the fastest methods available for making and receiving payments. Find out more.

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 0.01%
$500,000 plus 0.02%

Optional extras with your Business One - High Plan

 

Business savings account

Complement your Business One account with Business Cash Reserve savings account that comes with no monthly service fee and earn variable interest on the full account balance.

Business overdraft

Link your Business One account to a Business Overdraft to access additional funds when cash flow is low9.

  

EFTPOS machine

The monthly plan fee on a Business One High transaction account is waived for the first 12 months when you take out an EFTPOS 1 terminal and stay on a Merchant Pricing Plan.

 

Terms and conditions, fees and charges apply.

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

Things you should know

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.