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Business One

An everyday bank account designed for businesses that mainly bank electronically, and rarely bank in branch.

  • Bank online, on mobile, by phone, and in branch
  • $0 monthly fee
  • Unlimited free electronic transactions1
  • $3 per staff-assisted transaction
  • Business Debit Mastercard with temporary card lock feature2,3
  • Optional overdraft facility4

Eligibility check for online opening

  • Sole trader, sole director or already a Westpac business customer (association, company, partnership, SMSF, trust, or not-for-profit)
  • Operating in Australia with an Australian address
  • 18+ years old (applicant plus all signatories)

Other info

  • $3 staff-assisted transactions include cheques written, collected, and deposited, branch assisted deposits and withdrawals, and narrated credits
  • See T&Cs (PDF 556KB) for fees that may apply to other banking activity
  • Business One does not pay interest


Open a new Business transaction account, deposit $100 within the first 10 days using the description WELCOME100 and pocket a $100 gift card on us.#


 

Things you should know
# $100 Bonus Offer: This Offer is available to selected customers only and is subject to eligibility requirements.

To be eligible for the $100 Bonus Offer (Bonus Offer) you must (1) open a Business One or Business One Plus transaction account (2) have deposited $100 within 10 days of account opening and (3) you must also add a payee description “WELCOME100” to the deposit transaction when transferring the $100 into your new account from another account or financial institution.

Eligibility is limited to a single offer per account and a single offer per customer. The offer is available to new Business One or Business One Plus transaction account customers only.  Where a Joint Account has been opened, eligibility is limited to a single offer to the primary account holder. You are not eligible if, in the last two years, you have held or already hold a Business One, Business One Plus, Business One Low Plan or Business One High Plan transaction account.

The $100 bonus will be provided by way of a physical EFTPOS Gift Card sent to you approximately 60 days after you meet the eligibility criteria. Delivery of the Bonus Offer will only be made to your nominated postal address for this account. You are not eligible to receive the gift card if you have not provided a valid postal address as part of your Business One or Business One Plus application.

The offer is available from 1 February 2024 for a limited time only. Offer may be withdrawn or varied at any time without any prior notice. We may refuse to provide you or withdraw the Bonus Offer payment if, without limitation, we reasonably believe that (i) you do not comply with these terms and conditions or the terms and conditions of Business One, Business One Plus or the Gift Card program, (ii) your account is fraudulent, (iii) you are not acting in good faith, or (iv) you have closed your Business One or Business One Plus account prior to us delivering the gift card to you. This Bonus Offer may have taxation implications. We recommend that you seek independent advice to determine any tax liability or other tax implications based on your individual circumstances. Business One and Business One Plus and Gift Card T&Cs also apply. Westpac Group Employees and Trusts are not eligible for the offer.

^Introductory fixed bonus rate:

Bonus offer available from 20/11/2023 for a limited time only for new Business Cash Reserve accounts who have never held a Business Cash Reserve account before.

Not available for all customers who are relationship managed. If you’re experiencing issues with getting this bonus offer, please contact a Westpac branch

Not available in conjunction with any other offer unless we determine otherwise

We reserve the right to withdraw, amend or extend this offer at any time.

 

1. Fees may be incurred for certain electronic transactions such as foreign transactions and withdrawals from some overseas ATMs. Customers must be able to meet any applicable fees and charges. For a complete view of fees, please refer to our Terms and Conditions (PDF 556KB).


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. Optional overdrafts are subject to credit approval, eligibility criteria and fees.