CLOSING YOUR BUSINESS TRANSACTION OR SAVINGS ACCOUNT

Sign into Online Banking or the Westpac App to close your account.

Accounts that you can close online

If you're an existing Westpac Business customer registered for Online Banking, you may be able to close a Business transaction or savings accounts using Online Banking or the Westpac App as part of Business Servicing Requests | Westpac.

 

Looking to close a Personal Savings or Transaction account?  Click here.

Contact us to close other types of accounts

There are several Business transaction or savings accounts that you can’t close online. These include:

  • Self-managed Super accounts  
  • Regulated accounts
  • Share trading accounts  
  • Term deposit accounts  
  • Accounts held as security  
  • Loan accounts
  • Accounts with an ‘All to Sign’ operating rule

 

If you wish to close any of the above accounts, contact your Relationship Manager or visit a branch with one of the following documents.

  • Australian driver licence 
  • Passport 
  • Photo ID issued by the Australian Government 

 

Before you close your account

Account balances

If there’s a positive or negative balance in your account, transfer funds from or to your account to ensure that the balance is $0 before you submit a request to close it. Requests to close an account with a negative balance may be declined.

  • Cancel any direct debits, PayTo® agreements, direct credits and recurring payments and set them up with another eligible account to ensure that the payments you regularly make or receive are not disrupted.
  • If the account you are closing is the nominated Billing Account for Online Banking, ensure you nominate another eligible account or services may be impacted. 
  • If you need a summary of regular payments you’ve made and received, keep the account open until the request has been processed. 
  • If you're closing a transaction account that is linked to a savings account, you must close both accounts. To do so, please submit a separate request for each account you're closing. 
  • If you close your Business One Plus account, you will no longer be eligible for the partner offers and any existing partner offers connected to that account may be terminated by the partner and you may start incurring fees per the partner’s terms   and conditions.
  • If the savings account you are closing has any accrued interest, we’ll deposit it into another Westpac account in the same name. If there is no other account in the same name to receive the interest, you may not be able to close the account online.
  • If you have a PayID® linked to the account you’re closing, you won’t be able to use it to receive payments after the account is closed.
  • Before you close your account, you can link your PayID® to another eligible account. Read our frequently asked questions on how to do this.

You may have a Westpac Share Trading account linked to an investment or cash management account that you plan to close. To prevent any disruption to your trading activities, call 131 331 to link your trading account to another account.

  • Customers who've opted for paper statements will also need to check that the postal address in Online Banking is correct as the final copy will be sent to this address. 
  • If you've been receiving eStatements, you can find the final and previous statements in Online Banking. 
  • When you close a business account you must ensure that all written cheques have been deposited and provide us with any unused cheques.

How to close your account

You can complete a request through Online Banking or the Westpac App.

In the Westpac App or Online Banking (mobile device):

  1. Sign into your account;
  2. Search close account
  3. Select Close transaction and savings account
  4. Follow the prompts to raise the Business Service Request to close the account

 

In Online Banking (desktop device):

  1. Sign into your account;
  2. Under the main Services menu, select Services
  3. Under Account services, select Other account services
  4. Select Accounts Management, and then Close savings or transaction account
  5. Follow the prompts to raise the Business Service Request to close the account.

After your account is closed

Business Debit cards linked to one account

If you have a debit card linked to one account only, please destroy the card after closing your account.

 

If your debit card is linked to multiple accounts, you can continue to use your card with the remaining accounts.

 

Things you should know

PayID® is a registered trademark of NPP Australia Limited.

 

PayTo® is a registered trademark of NPP Australia Limited.