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For businesses that make a low number of transactions

No monthly service fee

 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 over 50,000 ATMs globally via the Global ATM Alliance. Other fees may apply.

Link your account to a Business Debit Mastercard®.

With Business One - Flexi you also get

The best major digital business bank

Over 20,000 Australian businesses had their say and agreed that Westpac is the Best Major Digital Business Bank1.

Bank Feeds

Link your account balances and transactions to your accounting software2, such as MYOB®, XEROTM or Quickbooks®.


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.

Interest is calculated daily and paid monthly on certain balances. Rates are current as at 24th October 2019 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 0.01%
$100,000 - $249,999 0.01%
$250,000 - $499,999 0.05%
$500,000+ 0.05%


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 0.10%
$250,000 - $499,999 0.10%
$500,000+ 0.10%


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  0.55%



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 0.55%

Optional extras with your Business One - Flexi


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 low3.


Things you should know

Deposit Accounts for Business Customers Terms and Conditions (PDF 384KB)

Business Debit Mastercard® Terms and Conditions (PDF 139KB)

To be eligible to apply for Business One account, your business must be registered in Australia.

^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. Westpac’s normal lending criteria applies. Fees and charges apply and are available on request.

4. Westpac was named Best Major Digital Business Bank in the DBM Consultants Australian Financial Awards 2019.
Westpac’s Online Banking is subject to terms and conditions and may be subject to fees and charges. This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement before deciding. Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.

5. Read the Westpac Online Banking Terms and Conditions (PDF 1MB) 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.

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

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

World Mastercard®, Mastercard® and the Mastercard brand mark are registered trademarks, and PayPass is a trademark of Mastercard International Incorporated.