Switching banks for your business is easy
Make the switch to Westpac business banking
By switching to Westpac, you get to experience our dedication to the Australian business community through award-winning customer service and innovative business solutions.
Switch banks in 5 simple steps
1. Open the business bank accounts you need
Start with a business transaction account for your everyday banking, then add in any others you need such as a business savings account. It’s easy to apply online. Or visit a branch or call a business banking specialist on 132 142.
2. Let your customers know
To ensure your business continues to get paid, notify regular customers and service providers of your new business bank account details.
3. Register for Westpac Online Banking (optional)
Register for Online Banking – which automatically includes Telephone Banking – if you wish to do your business banking in your own time and across a range of devices. Make the most of Online Banking’s time-saving features too.
4. Transfer direct debits and payment information
This is relatively simple, and there are two main considerations:
- Direct debits – Check back over at least a year’s worth of statements to identify all the debits (and credits) that need transferring to your new account. Then contact both the people you are paying, and the people paying you, to give them your new account details.
- Regular payments (including staff wages) – If you’re banking online you should be able to export CSV files containing your Pay Anyone and BPAY details from your old account – ensuring they feature the correct information (see our ‘import payment details’ guide). Then in Westpac Online Banking, import the payment details into your new account following the same guide. Now you can continue to make payments with ease.
5. Close your old accounts
Once your direct debits and credits are in place with us, and all cheques have been presented to your old bank, it’s time to close your old accounts.
Things you should know
To be eligible to apply for Business One - Low Plan, Business One - High Plan or Business One - Flexi, your business must be registered in Australia.
Westpac Community Solutions Cheque Account is available for not-for-profit organisations including companies operating on a non profit or charitable basis. Westpac reserves the right, with at least 30 days written notice, to change the account to a Westpac Business One - Low Plan if it considers that the account is being used for profit-making purposes.