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Essentials

Save up to $120 on new Business One Low Plan. Apply before 16 Dec 2016 and we will waive the Monthly Plan fee.

Apply for a new Business One Low Plan by 16 December 2016 and get your Monthly Plan fee waived for the first 12 months. Currently Saving you up to $120.

Business One account - Low Plan comes with the following features and services for your everyday business banking:

  • Unlimited electronic transactions
  • 24/7 access1 to your account through our award winning Westpac Online, Mobile and Tablet Banking2 plus over 3,000 Westpac Group ATMs in Australia and New Zealand
  • Link your account to a Business Debit MasterCard® and use your own money for your business purchases online and worldwide, wherever MasterCard® is accepted3
  • Apply for a new Business One Low Plan applications before 16/12/2016 and your Monthly Plan fee will be waived for the first 12 months. Standard Monthly Plan fee applies after this time, currently $10.

Getting the most from your Business One account (optional extras)

  • eStatements - Stay on top of your finances with less clutter
  • Export your transactions - Save time and money by exporting transactions to your existing accounting software
  • Business savings account - Complement your Business One account with Business Cash Reserve savings account that comes with no monthly service fee and competitive interest on all balances of $10,000 or over
  • Business overdraft - Link your Business One account to Business Overdraft to access additional funds when cash flow is low4

Plan Fees

Fee Amount

Monthly plan fee
Get your Monthly Plan fee waived for the first 12 months, then standard fee applies - limited time only.

$10.00
Included monthly free transaction value $17.00

For new Business One Low Plan applications before 16/12/2016 your Monthly Plan fee will be waived for the first 12 months. Standard Monthly Plan fee applies after this time, currently $10.

Transaction fees when monthly transaction value exceeded

Fee Amount
Cheques - deposited or collected (branch transaction fee may apply) $0.60 per cheque
Withdrawal or deposit at branch $1.00
Narrated credits $1.00

Transaction fees not included in the monthly limit value

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.

Account enquiries

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 23 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
Things you should know

Deposit Accounts for Business Customers Terms and Conditions (PDF 11MB)

Business Debit MasterCard® Terms and Conditions (PDF 2MB)

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

1. 24/7 access is subject to system availability.
2. Winner of the Best Innovative Online Banking Service in Money Magazine’s 2015 Best of the Best Innovation awards, 2015 AB+F’s Best Banking Website/New Online Banking Offering of the Year, and Good Design Award in the category of Digital and Online design - Good Design Australia 2014.
3. Business Debit MasterCard® holders need to be at least 18 years of age, and other eligibility criteria apply.
4. Westpac’s normal lending criteria applies. Fees and charges apply and are available on request.


Apply for a Business One Low Plan between 14 November 2016 and 16 December 2016 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. Before deciding to acquire or hold any of these products, you should read the terms and conditions and consider whether the product is suitable for you.


Narrated credits
Branch transactions using a serial number encoded deposit slip enabling 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 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 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