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Why a Business One Low Plan?

Exclusive online offer

You can't beat $0*

That's your unbeatable Monthly Plan Fee for the first 12 months for new accounts opened online before 6 August 2021. Apply now and save up to $120.

Complimentary invoicing tool¹

Biz Invoice lets you create and send invoices from your mobile or desktop, helps with reconciling, and sends automatic payment reminders from Westpac Online Banking. And now eligible sole traders1 can set up BPAY® to accept credit card payments.


  • Unlimited electronic transactions2
  • 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 no Overseas Withdrawal fee (formerly known as Overseas ATM Cash Withdrawal fee) at over 50,000 ATMs globally via the Global ATM Alliance3.  Other fees may apply.

  • Link your account to a Business Debit Mastercard®4

With Business One Low you also get

Receive payments near instantly5

Our business bank accounts offer some of the fastest methods available for making and receiving payments. Find out more.

Connect with your accounting software

Link your account balances and transactions to your accounting software6, such as MYOB®, XEROTM or Quickbooks®.

Accept credit card payments

When linked to this account, our Biz Invoice online invoicing tool allows sole traders to set up BPAY 1. This provides their customers with the option to pay securely by credit card.

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 account before 6 August 2021 and we’ll waive your monthly fees 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

Now it’s easier to get paid

With the Biz Invoice invoicing tool, you can now accept credit card payments using BPAY®. Terms, conditions and eligibility apply.

Find out more

Things you should know

Business Debit Mastercard® Terms and Conditions (PDF 145KB)

To be eligible to apply for Business One - Low Plan, Business One - High Plan or Business Flexi, your business must be registered in Australia.

^Account opening criteria applies.

* Open a new Business One Low Plan account online between 7 June and 6 August 2021 to have monthly plan fees waived for the first 12 months. At the end of the 12-month period the standard monthly plan fee (currently $10) will apply. 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.



To be eligible to set up BPAY Payments with Biz Invoice you must be registered for Online Banking and be a Sole Trader who is the sole owner of the Westpac Business One Low Plan or Business One High Plan account to which Biz Invoice is linked. Each BPAY transaction will incur a transaction fee. Read the disclosure documents for your selected product or service, including the Biz Invoice BPAY Sub-Biller Agreement Terms and Conditions (PDF 104KB) and Direct Debit Request including the Direct Debit Request Service Agreement (PDF 36KB), before deciding. Terms, conditions, fees, charges and eligibility apply. Full details are available on application and subject to approval.


Fees may be incurred for certain electronic transactions such as foreign transactions and withdrawals from some overseas ATMs. For a complete view of fees, please refer to our Terms and Conditions (PDF 517KB).


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®


Business Debit Mastercard® holders need to be at least 18 years of age, and other eligibility criteria apply.


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.


Read the Westpac Online Banking Terms and Conditions (PDF 310KB) 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.


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.


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.

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

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.

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.

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.