Business transaction account
Why a Business One - Low Plan?
$0 Monthly Plan Fee*
Save up to $120 by having a $0 Monthly Plan Fee for the first 12 months when you open a new Business One Low Plan transaction account online by 29 February 2020.
- 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 Alliance2. Other fees may apply.
- Link your account to a Business Debit Mastercard®3
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
|Cheques - deposited or collected (additional deposit fee may apply)||$0.60 per cheque|
|Withdrawal or deposit at branch||$1.00|
|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.|
|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.)
|$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|
Optional extras with your Business One - Low Plan
Things you should know
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.
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.
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.
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