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Compare our transaction accounts for small businesses

  Business One Business One Plus
At a glance Everyday small business account for businesses that mainly bank online and on mobile. Everyday small business account for businesses that bank online and on mobile, and also in branch.
Key Inclusions
  • Unlimited electronic transactions9
  • $3 per staff-assisted transaction
  • Business Debit Mastercard
  • Exclusive partner offers on key business services
  • Unlimited electronic transactions9
  • 25 staff-assisted transactions a month
  • Business Debit Mastercard
Monthly plan fee $0 $10
How to open an account

If you’re a sole trader or already a Westpac business customer, apply online. If that’s not you, apply at any branch.


If you’re a sole trader, one-director company, or already a Westpac business customer, apply online. If that’s not you, apply at any branch.


Included electronic transactions Unlimited9 Unlimited9
Free staff-assisted, cheque and narrated credit transactions per month 0 25
Additional cheques – written, deposited or collected1 $3.00 $3.00
Additional staff-assisted withdrawals, deposits2 and narrated credits3 $3.00 $3.00
Westpac foreign transaction fee Depends on the transaction4
Business Debit Mastercard    
Overseas Withdrawal fee (formerly known as Overseas ATM Cash Withdrawal fee) $5.00, or nil for cash withdrawals from ATMs belonging to institutions in the Global ATM Alliance4
Interest earned Nil Nil
Business Telephone Banking 20 free account enquiries per month5

Access up to $10,000 of value for your business*

Business One Plus account holders can access exclusive special offers from 10 key partners

  • Get discounts on energy, accounting software, legal services, online security, business support services and electronics

  • Sign into your account to redeem offers. T&Cs apply.

Other small business accounts that may meet your needs

Foreign Currency Accounts

Send, receive and hold currencies in one place

  • $0 monthly account maintenance fee (other fees may apply)
  • Make and receive payments in another currency without converting to AUD
  • Available in 12 key foreign currencies
  • Can be managed in Online Banking 24/7 6

Business Term Deposits

Invest your surplus funds and get higher returns

  • $0 set up and account-keeping fees. Other fees may apply.
  • Guaranteed return on your investment 8
  • Avoids the volatility of variable interest rate investment options
  • Choice of term lengths 
  • Can be applied for and managed in Online Banking 7.

Business Cash Reserve

Earn interest on surplus funds with instant access

  • $0 account-keeping fee. Other fees may apply
  • Earn interest on surplus funds and collected GST
  • Links to a your Westpac transaction account for ease of fund transfers
  • Can be managed in Online Banking 24/7 6

FAQs about small business accounts

Depending on your business structure (such as ‘sole trader’), you may not be required to have a business bank account – but it could be a good idea to consider getting one. Read our 4 reasons to separate business banking from personal article to find out why. 


Please note there are certain business structures (such as ‘limited liability company’ and ‘corporation’) that are required to have a separate bank account for tax purposes.

Things you should know


Deposit Accounts for Business Customers Terms and Conditions (PDF 556KB)

Business Debit Mastercard® Terms and Conditions (PDF 205KB)

Online Banking Terms and Conditions (PDF 417KB)

Find out what information you need to provide to become a Westpac customer.

Terms, conditions, fees and charges apply. This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement and consider whether the product or service is right for you.

* Total partner value has been calculated assuming you take up all partner offers for the entire offer period. Where applicable, we have used the highest subscription offered for Samsung, an initial purchase of $4,000, followed by a subsequent $1,000 purchase. For Uber, an annual spend of $1,000 is considered. 

1. 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.


2. The branch staff-assisted electronic fee is not applicable if your business account does not have card access.

3. 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. 

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%).5. 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®


5. Excess enquiry fees are charged at Self-service – $0.25  and Staff-assisted – $0.65 per excess Business Telephone Banking enquiry. Note the Business Telephone Banking excess enquiry fees on these accounts do not apply if the min. monthly balance in the account is greater than $5,000 or a min $5,000 overdraft exists (where applicable). 

6. 24/7 access is subject to system availability. 

7. Westpac Online Banking is available to update Term Deposits from 8.00am to 9.30pm Monday to Friday and 8.00am to 4.00pm on Saturdays (Sydney time).

8. Early withdrawal may reduce returns. Term Deposits are 'protected accounts' under the Financial Claims Scheme (FCS). Payments under the FCS are subject to a limit for each depositor. For more information see the APRA website at 

9. 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 556KB)

World Mastercard®, Mastercard® and the Mastercard brand mark are registered trademarks of, and PayPassTM is a trademark of, Mastercard International Incorporated.