Business One Low: Added-value bank account
Why a Business One Low Plan?
- Unlimited electronic transactions1
- 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
- Lock your card - you can temporarily lock it in seconds with card on hold4 while you search.
With Business One Low you also get
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|
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|
Additional banking services you can link to your account
Things you should know
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.
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.
1. 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 .
2. 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®
3. Business Debit Mastercard® holders need to be at least 18 years of age, and other eligibility criteria apply.
4. 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.
5. To be eligible for Biz Invoice you must be registered for Online Banking and hold a Westpac Business One Low Plan or Business One High Plan or Foreign Currency Account (excluding the Chinese Yuan RMB foreign currency account). Terms and conditions, fees and charges apply in relation to the above accounts. Read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement for Westpac's Online Banking facility, Business transaction accounts and , before deciding.
6. 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 and , before deciding. Terms, conditions, fees, charges and eligibility apply. Full details are available on application.
7. 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.
8. Read the 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.
9. 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.
10. 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.
11. Zero interest rates may apply, and then you will receive no interest on your account balance. References to interest being paid should be read accordingly.
12. Westpac’s normal lending criteria applies. Fees and charges apply and are available on request.
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.
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.