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Why a Business One - Low Plan?

Exclusive online offer

$0 Monthly Plan Fee* for the first 12 months when you open a new Business One Low Plan account online by 24 December 2018.



Free invoicing tool#

Create, send and manage invoices with Biz Invoice and get the chance to win a holiday for two to London1.



Unlimited electronic transactions 

25 free staff-assisted and cheque transactions per month 

View up to 7 years of eStatements history

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 .

The best digital platform for Australian businesses

Westpac Live was named Best Digital Platform 2018 for business online banking3. See your business and personal banking in one place, with one login.

Bank Feeds

Link your account balances and transactions to your accounting software7, such as MYOB® or XEROTM.

Biz Invoice

Link your account to Biz Invoice and easily create, send and manage your invoices that your customers will receive by email.

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.

Open a new Business One Low Plan account before online 24th December 2018 and your Monthly Plan Fee will be waived for the first 12 months.

Standard Monthly Plan Fee applies after this time, currently $10.


Rates and fees

Fee Amount
Cheques - deposited or collected (additional deposit fee may apply) $0.60 per cheque
Withdrawal or deposit at branch $1.00
Narrated credits $1.00
Fee Amount
Electronic transactions $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
Overseas ATM cash withdrawals (An overseas bank surcharge may also apply). $5.00 or nil for cash withdrawals from ATMs belonging to institutions in the Global ATM Alliance.
Overseas ATM balance enquiry $0
Westpac Foreign Transaction Fee The amount charged is dependent on the nature of the transaction, as set out below.
Fee 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. $0.00
Business Telephone Banking 20 free enquiries per month, then fees as disclosed below.
Business Online Banking Free

Interest is calculated daily and paid monthly. Interest rates are current as at 23rd August 2016.

Variable Interest rates (%p.a)

Balance Low Plan
$0 - $1,999 Nil
$2,000 - $4,999 Nil
$5,000 - $9,999 Nil
$10,000 - $19,999 Nil
$20,000 - $49,999 Nil
$50,000 - $99,999 Nil
$100,000 - $249,999 Nil
$250,000 - $499,999 Nil
$500,000 plus Nil

Win a business class trip for two to London

Send an invoice using Biz Invoice for a chance to win two business class tickets to London, accommodation, transfers and VIP tickets to the Taste of London†.

Terms and conditions apply. Find out more

Things you should know

Deposit Accounts for Business Customers Terms and Conditions (PDF 363KB)

Business Debit Mastercard Terms and Conditions

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

* Open a new Business One Low Plan account online between 10th December and 24th December 2018 to have the Monthly Plan Fee waived for the first 12 months. At the end of the 12 month period the standard Monthly Plan Fee, currently $10, applies to the Business One Low Plan. Other fees and charges, terms and conditions, apply to the Business One Low Plan. This offer may be repeated from time to time, withdrawn, varied or extended at any time.  This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors and read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement at, before deciding.^Account opening criteria applies.

#Free with an eligible business account.

Taste of London competition Terms and Conditions

Promotion opens 25.11.18 and closes 15.2.19 at 11:59pm AEDT. Entry is open to: (1) existing holders of a Westpac Business One High Account or Westpac Business One Low Account (each an “Account”); or (2) new Account holders who open an Account by: visiting a Westpac Branch; online by visiting; or by calling 13 20 32; AND who send at least one invoice using the associated service, Biz Invoice through your Account, before 15th February, 2019. The prize is a “Taste of London holiday for 2” valued at approximately $21,000 comprising return business flights from the Winner’s closest Australian capital city departing 17.6.19, 5 nights’ accommodation in London; and 2 VIP tickets to the opening night of the Taste of London. Draw date is 3pm 4.3.19 at  200 Barangaroo Ave, Barangaroo.  Winner will be notified in writing on 4.3.19 and their name published in The Australian Newspaper on 11.3.19. For full terms and conditions, visit Promoter is Westpac Banking Corporation ABN 33 007 457 14. Authorised under trade promotion permits: NSW LTPS/18/29226, SA T18/2080 and ACT TP 18/02110.

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. Excludes American Express® cards. 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. A deposit to an account with two cheques will count as three transactions, one for the deposit (depending on the channel used) and one for each cheque lodged because each item requires individual processing.
5. Narrated credits are branch transactions using a serial number encoded deposit slip designed to allow you to identify the deposit from the serial number used.
6. Read the Westpac Online Banking Terms and Conditions (PDF 303KB) 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.

Mastercard® is a registered trademark of Mastercard International Incorporated.

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