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Why a Business One - Low Plan?

Special offer

$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.

Complimentary invoicing tool¹

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


Essentials

  • 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

Receive payments near instantly4

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

Bank Feeds

Link your account balances and transactions to your accounting software5, such as MYOB®, XEROTM or Quickbooks®.

Biz Invoice

Linked to your account, Biz Invoice lets you create, send and reconcile invoices on your mobile –and now eligible sole traders6 can let customers make credit card payments by setting up BPAY®.

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 online before 29 February 2020 and get $0 Monthly Plan Fee* 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 139KB)


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


* Open a new Business One - Low Plan account between 1st Feb and 29th Feb 2020 to receive a $0 Monthly Plan Fee for the first 12 months. At the end of the 12 month period the standard Monthly Plan Fee at that time, 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  https://www.westpac.com.au/business-banking/bank-accounts/, before deciding.  
 
^Account opening criteria applies.

 

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.


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, and PayPass is a trademark of Mastercard International Incorporated.


BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.