Business One Flexi: Pay-as-you-go bank account

Choose our no monthly fee business account if you prefer to pay by transaction.
Apply now

Why a Business One Flexi Plan?

  • Pay-as-you-go fee structure, only pay fees for the transactions you make
  • No ATM withdrawal fee at over 10,000 Australian ATMs and no Overseas Withdrawal fee (formerly known as Overseas ATM Cash Withdrawal fee) at over 50,000 ATMs globally via the Global ATM Alliance1.  Other fees may apply.
  • Link your account to a Business Debit Mastercard®2
  • Lock your card - you can temporarily lock it in seconds with card on hold3 while you search..

With Business One Flexi 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.

Link your account balances and transactions to your accounting software5, such as MYOB®, XEROTM or Quickbooks®.

eStatements

View up to 7 years of statement history.

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

Account Amount
Account-keeping fee (formerly known as monthly service fee) $0
Enquiries 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
Business Telephone Banking.
Account enquiries include balance enquiries and obtaining the details of a deposit or withdrawal. An account balance received immediately after, and as part of, a withdrawal transaction is exempt from fees and does not count towards the number of fee free transactions.

20 free enquiries per month then excess enquiry fees are charged per excess Business Telephone Banking enquiry: $0.25 self-service, $0.65 staff-assisted .

Note the Business Telephone Banking excess enquiry fees on these accounts do not apply if the minimum monthly balance in the account is greater than $5,000 or a minimum $5,000 overdraft exists (where applicable).
Business Online Banking Free

Interest is calculated daily and paid monthly on certain balances7.  Rates are current as at 13th November 2020 and may be changed at any time.

 

Variable interest rates (% p.a.) - Business One - Flexi

Amount Rate
$0 - $9,999 0%
$10,000 - $19,999 0%
$20,000 - $49,999 0%
$50,000 - $99,999 0%
$100,000 - $249,999 0%
$250,000 - $499,999 0%
$500,000+ 0%

 

Variable interest rates (% p.a.) - Bank Undertaking Security Deposit

Amount Rate
$0 - $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+ 0.01%

 

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  0.01%

 

 

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 0.01%

Additional banking services you can link to your account

 

Business savings account

Complement your Business One account with a Business Cash Reserve savings account that comes with no account-keeping fee (formerly known as monthly service fee) and earn variable interest on the full account balance.

Business overdraft

If your cash flow requires some help, link a  Business Overdraft to your business transaction account to access additional funds. 6

EFTPOS offer

We’ll waive your Business One Low Plan monthly fee for the first 12 months when you take out an EFTPOS 1 terminal and remain on a Merchant Pricing Plan. T&Cs, fees and charges apply.
 

Apply online

Then complete an in-branch ID check to access funds.

Apply now
Need help choosing the right account
Learn more about
Contact us
Things you should know

Deposit Accounts for Business Customers Terms and Conditions (PDF 525KB)

Business Debit Mastercard® Terms and Conditions (PDF 451KB)


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 Westpac customer.


^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.Card Lock will temporarily stop new transactions on your card for up to 15 days or until reactivated. The card will reactivate after 15 days if you do not cancel the card. Cards to which a temporary lock can be applied will be listed when you sign in to Mobile Banking or Online Banking and visit Lock a card temporarily under Cards services.

4.Fast or near real-time payments are sent and received using Osko by BPAY and can be addressed to either a PayID or a BSB and account number. Near real-time payments require both the payer and payee to have Osko enabled accounts. Payments may take longer in some instances, such as where there is a technical interruption to the service, there is a payment to a first time payee or when the payment is caught for additional security screening. BPAY® and Osko® are registered trademarks of BPAY Pty Ltd ABN 69 079 137 518.

5.Read the  Westpac Online Banking Terms and Conditions (PDF 341KB) 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.Westpac’s normal lending criteria applies. Fees and charges apply and are available on request.

7.Zero interest rates may apply, and then you will receive no interest on your account balance. References to interest being paid should be read accordingly.

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.


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 of, and PayPassTM is a trademark of, Mastercard International Incorporated.


BPAY® and Osko® are registered trademarks of BPAY Pty Ltd ABN 69 079 137 518.