Business One - Flexi
Essentials
Business One - Flexi account comes with the following features and services for your everyday business banking:
- No monthly service fee
- Pay-as-you-go fee structure, only pay fees for the transactions you make
- 24/7 access 1 to your account through our award winning Westpac Online, Mobile & Tablet Banking 2 plus over 3,000 Westpac Group ATMs in Australia and New Zealand
- Link your account to a Business Debit Mastercard ® and use your own money for your business purchases online and worldwide, wherever Mastercard is accepted3
Getting the most from your Business One - Flexi account (optional extras)
- eStatements - Stay on top of your finances with less clutter
- Export your transactions - Save time and money by exporting transactions to your existing accounting software
- Business overdraft - Link your Business One - Flexi account to Business Overdraft to access additional funds when cash flow is low4
Interest is calculated daily and paid monthly on certain balances. Rates are current as at 18th May 2018 and may be changed at any time.
Variable interest rates (% p.a.) - Business One - Flexi
| Amount | Rate |
|---|---|
| $0 - $9,999 | 0.01% |
| $10,000 - $19,999 | 0.01% |
| $20,000 - $49,999 | 0.01% |
| $50,000 - $99,999 | 0.05% |
| $100,000 - $249,999 | 0.10% |
| $250,000 - $499,999 | 0.10% |
| $500,000+ | 0.10% |
Variable interest rates (% p.a.) - Bank Undertaking Security Deposit
| Amount | Rate |
|---|---|
| $0 - $9,999 | 0.05% |
| $10,000 - $19,999 | 0.05% |
| $20,000 - $49,999 | 0.05% |
| $50,000 - $99,999 | 0.10% |
| $100,000 - $249,999 | 0.40% |
| $250,000 - $499,999 | 0.60% |
| $500,000+ | 0.60% |
Variable interest rates (% p.a.) - Business One Flexi (Controlled Money and Trust Accounts)
This account is only available to members of professional associations who are required by law to deposit funds held on behalf of their clients to a trust account with a financial institution. Approval of applications is at the discretion of the bank.
| Amount | Rate |
|---|---|
| All balances | 1.15% |
Variable interest rates (% p.a.) - Business One Flexi for Security Deposit
This is only available for sale in Victoria for Relationship Managers and Relationship Bankers specialised in the real estate industry. Approval of applications is at the discretion of the bank.
| Amount | Rate |
|---|---|
| All balances | 1.15% |
Need help choosing the right account
Things you should know
Deposit Accounts for Business Customers Terms and Conditions (PDF 286KB)
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. 24/7 access is subject to system availability.
2. Winner of the Best Innovative Online Banking Service in Money Magazine’s 2015 Best of the Best Innovation awards, 2015 AB+F’s Best Banking Website/New Online Banking Offering of the Year, and Good Design Award in the category of Digital and Online design - Good Design Australia 2014.
3. Business Debit Mastercard® holders need to be at least 18 years of age, and other eligibility criteria apply.
4. Westpac’s normal lending criteria applies. Fees and charges apply and are available on request.
Narrated credits
Branch transactions using a serial number encoded deposit slip enabling 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 and 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.
Find out what information you need to provide to become a customer
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