Business One Flexi: Pay-as-you-go bank account
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 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
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
|Monthly service fee||$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|
|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
|$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%|
Variable interest rates (% p.a.) - Bank Undertaking Security Deposit
|$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%|
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.
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.
Additional banking services you can link to your account
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.
^Account opening criteria applies.
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 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.