BUSINESS ONE PLUS: Feature rich business account
Simplify your business cashflow with our award-winning account. Get 5 free staff assisted transactions
Experts Choice 2025
Winner of Mozo's 2025: Small business exceptional everyday account.
You could earn
$100
Cashback with a new account
- Open a Westpac Business One Plus account by 31 January 2026
- Within 10 days, deposit at least $100 in a single transaction. Use the description WELCOME100.
To be eligible for the $100 Welcome Offer, you must (1) open a Business One or Business One Plus transaction account (Account) (2) have deposited a minimum of $100 in a single transaction within 10 Days of account opening and (3) you must also add a payee description "WELCOME100" to the deposit transaction when transferring the $100 into your new account from another account or financial institution.
Eligibility is limited to a single offer per Account and a single offer per customer. The Offer is available to new Business One or Business One Plus transaction account customers that open a new Account during the Offer Period. Where a Joint Account has been opened, eligibility is limited to a single offer to the primary account holder. The primary account holder is not eligible if, in the last two years, the primary account holder had held or already hold a Business One, Business One Plus, Business One Low Plan or Business One High Plan transaction account.
The $100 Welcome Offer will be provided by way of direct deposit to the newly opened Business One or Business One Plus account within 60 Business days after you meet the eligibility criteria. You are not eligible to receive the offer if you do not include the payee description of "WELCOME100" to the transfer of funds.
The Offer is available from 3rd February 2025 until 31st January 2026 (Offer Period), however, the Offer may be withdrawn or varied at any time without notice or for any reason. We may refuse to provide you or withdraw the Welcome Offer payment if, without limitation, we reasonably believe that (i) you do not comply with these Terms and Conditions or the Terms and Conditions of Business One or Business One Plus, (ii) your account is fraudulent, (iii) you are not acting in good faith, or (iv) you have closed your Business One or Business One Plus account prior to us depositing the $100 Welcome Offer into your new account. This Welcome Offer may have taxation implications. We recommend that you seek independent advice to determine any tax liability or other tax implications based on your individual circumstances. Business One and Business One Plus T&Cs also apply. Westpac Group Employees or where the customer or primary account holder is a Trust are not eligible for the Offer.
Unless specifically defined in these Terms and Conditions, terms used here have the same meaning as those defined in the Westpac Deposit Accounts for Business Customers Terms and Conditions.$10
Monthly fee
- $10 monthly Account-keeping fees
- No foreign currency transfers fees (excludes funds sent in AUD) when using Online Banking. Receiving bank fees may apply.
GET UP TO $10K OF VALUE FOR YOUR BUSINESS
Business solutions in the palm of your hand
Work smarter not harder
Reduce admin time
Make tax time simpler. Connect to accounting software like MYOB, Xero, Quickbooks, and more.
Give employee access
Provide full or limited access. Link a Business Debit Mastercard® to your business bank account.
Integrate payments
Take secure in-person payments with the EFTPOS Air app on your compatible phone or tablet.
Bank your way
Get access to Australia's largest banking network for cash transactions.
SIMPLIFY YOUR MONEY MANAGEMENT
LAYERS OF SCAM AND FRAUD PROTECTION
Required information and documents
Required details
- Your Customer ID (if you’re already with us)
- Your ABN (if you have one)
- The date you established the partnership and the state/territory
- Foreign tax residency information (if any) including Foreign Tax Identification Number
- Details of anyone who’s a ‘partner’ in the business, even if they don’t need access to this account. A partner is someone business who has a 25% or greater share in the business. Required details of a partner include:
- Full name
- Address
- Date of birth.
Required documents
If you’re a regulated partnership:
- Current proof of membership of a professional association
- And one of the following:
- Partnership agreement
- Minutes from one of your meetings
- ATO notice less than 12 months old
- Certificate of registration of your business name.
All documents must be valid originals or certified copies, and ID must match the names listed on your partnership agreement. Check out other ID options (PDF 657KB)
Required details
- Your Customer ID (if you’re already with us)
- Your ACN plus (if applicable) ABN
- The date and state/territory of company registration/incorporation
- If a regulated company, the name of the regulator and your licence number
- If a non-listed but regulated company, the name of the regulator and your licence number
- Details of anyone who’s a ‘beneficial owner’ of the business, even if they don’t need access to this account. A beneficial owner is someone who has a 25% or greater share of a company, or has control of it (such as a CEO or MD). Required details of a beneficial owner include:
- Full name
- Address
- Date of birth.
Required documents
You’ll need one of the following:
- ASIC certificate of registration
- Publicly issued document from the past 12 months, such as audited accounts.
All documents must be valid originals or certified copies, and ID must be in the correct name(s). Check out other ID options (PDF 657KB)
Required details
- Your Customer ID (if you’re already with us)
- Details of the membership class (e.g. family members of named person, charitable purpose, etc.)
- Details of anyone who’s a ‘beneficial owner’ of the trust, even if they don’t need access to this account. A beneficial owner is someone who has a 25% or greater share of the trust. Required details of a beneficial owner include:
- Full name
- Address
- Date of birth.
Required documents
You’ll need one of the following:
- Trust Deed (or a certified copy/extract) featuring names of the trust, trustees, beneficiaries and settlor(s), plus the execution page
- Settlement Deed or similar document
- ATO notice less than 12 months old
- A letter from an appropriate professional confirming the name of the trust and settlor(s).
All documents must be valid originals or certified copies, and ID must be in the correct name(s). Check out other ID options (PDF 657KB)
Required details
- Your Customer ID (if you’re already with us)
- Your ABN (if you have one)
- If incorporated the:
- Identification number issued by state/territory or overseas body upon incorporation
- Date and state/territory/country of establishment
- Details of anyone who’s a ‘beneficial owner’ of the association, even if they don’t need access to this account. A beneficial owner is someone who has a 25% or greater share of the association or has control of it (such as a CEO or MD). Required details of a beneficial owner include:
- Full name
- Address
- Date of birth.
Required documents
If incorporated, you’ll need one of the following:
- ASIC certificate of registration
- Equivalent from the relevant government body. Otherwise, you’ll need one of the following:
- The constitution or rules of the association
- Minutes from one of your meetings.
All documents must be valid originals or certified copies, and ID must be in the correct name(s). Check out other ID options (PDF 657KB)
Required details
- Your Customer ID (if you’re already with us)
- The date and state/territory/country of registration
- Details of anyone who’s a ‘beneficial owner’ of the co-operative, even if they don’t need access to this account. A beneficial owner is someone who has a 25% or greater share of the co-operative or has control of it (such as a CEO or MD). Required details of a beneficial owner include:
- Full name
- Address
- Date of birth.
Required documents
You’ll need one of the following:
- ASIC certificate of registration (if applicable)
- Register maintained by the co-operative
- Minutes from one of your meetings.
All documents must be valid originals or certified copies, and ID must be in the correct name(s). Check out other ID options (PDF 657KB)
Save time, apply online
Account fees
| Standard fees (fees may change) | Amount |
|---|---|
|
Account-Keeping Fee (monthly)
|
$10 |
The $10 monthly fee will be charged on the first business day of the month following your first full month. You’ll have access to the staff-assisted transaction allowance from the date the switch was effective.
| Standard fees (fees may change) | Amount |
|---|---|
Electronic transactions (excluding foreign transactions and withdrawals from some overseas ATMs |
$0 |
| Staff-assisted transactions (includes cheques written, collected, and deposited, branch assisted deposits and withdrawals, and narrated credits) | $3 |
| Unarranged Lending Rate (URL) (a debit interest rate charged to a transaction account if it becomes overdrawn without arrangement) | 15.01% |
Other fees and charges may apply. Please refer to the Terms and Conditions (PDF 819KB). This account doesn’t earn interest. If you’d like to earn interest, you can open a business savings account after you open a Business One account. Find out how.
Things you should know
Deposit Accounts for Business Customers Terms and Conditions (PDF 819KB)
Business Debit Mastercard® Terms and Conditions (PDF 287KB)
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.
Find out what information you need to provide to become a Westpac customer.
1. Fees may be incurred for certain electronic transactions such as foreign transactions and withdrawals from some overseas ATMs. Customers must be able to meet any applicable fees and charges. For a complete view of fees, please refer to our Deposit Accounts for Business Customers Terms and Conditions (PDF 819KB)
2.Business Debit Mastercard® holders need to be at least 18 years of age, and other eligibility criteria apply.
3. Optional overdrafts are subject to credit approval, eligibility criteria and fees.
4. 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. This includes keeping your sign-in details (including passwords, Westpac Protect™ SMS codes and SecurID® Token codes) private. You must inform us immediately if you suspect the security of your access details has been compromised, or you suspect an unauthorised transaction or potential fraud on your accounts.
5. 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.
6. Read the Westpac Online Banking Terms and Conditions (PDF 260KB) (PDF 740KB) before making a decision. Not all accounts are eligible to be included in a bank feed. Not all third-party service providers support bank feeds for all accounts.
Bank feeds must be set up with third-party service provider before it can be connected in Westpac Online Banking. If your third-party service provider doesn’t appear in the drop-down menu in Westpac Online Banking, you may need to check that your third-party service provider is registered with Westpac. Should there be any changes to your user access or network access levels, you may need to disconnect your bank feed(s) as any access changes won’t impact bank feeds. The products and services offered by third-party service providers are subject to their own terms and conditions and fees and charges. Westpac doesn’t guarantee or endorse the services or products offered by third-party service providers.
7. Online and app banking is subject to system availability.
Protected by the Financial Claims Scheme (FCS): If you have a Westpac deposit account, in certain circumstances you may be entitled to a payment under the FCS. Payments under the FCS are limited for each customer. You can find out more information from the APRA website at www.fcs.gov.au.
Online Banking Security Guarantee: If your Westpac account is compromised by online banking fraud, we promise to return any missing funds. This guarantee only applies if you’ve followed our Online Banking Terms and Conditions. This includes: 1. Keeping your sign-in details, including passwords or Westpac Protect™ Security codes, private, 2. Not contributing to the loss, and 3. Telling us right away if you think there’s an unauthorised transaction or fraud on your account.
Fraud Money Back Guarantee: Shop securely using your Debit Mastercard or Credit Card, backed by 24/7 fraud monitoring and our Fraud Money Back Guarantee. Westpac promises to return any missing funds to you if you've not contributed to the loss and contact Westpac right away. Check your card’s terms and conditions for full details.
To be eligible for the $100 Welcome Offer, you must (1) open a Business One or Business One Plus transaction account (Account) (2) have deposited a minimum of $100 in a single transaction within 10 Days of account opening and (3) you must also add a payee description "WELCOME100" to the deposit transaction when transferring the $100 into your new account from another account or financial institution.
Eligibility is limited to a single offer per Account and a single offer per customer. The Offer is available to new Business One or Business One Plus transaction account customers that open a new Account during the Offer Period. Where a Joint Account has been opened, eligibility is limited to a single offer to the primary account holder. The primary account holder is not eligible if, in the last two years, the primary account holder had held or already hold a Business One, Business One Plus, Business One Low Plan or Business One High Plan transaction account.
The $100 Welcome Offer will be provided by way of direct deposit to the newly opened Business One or Business One Plus account within 60 Business days after you meet the eligibility criteria. You are not eligible to receive the offer if you do not include the payee description of "WELCOME100" to the transfer of funds.
The Offer is available from 3rd February 2025 until 31st January 2026 (Offer Period), however, the Offer may be withdrawn or varied at any time without notice or for any reason. We may refuse to provide you or withdraw the Welcome Offer payment if, without limitation, we reasonably believe that (i) you do not comply with these Terms and Conditions or the Terms and Conditions of Business One or Business One Plus, (ii) your account is fraudulent, (iii) you are not acting in good faith, or (iv) you have closed your Business One or Business One Plus account prior to us depositing the $100 Welcome Offer into your new account. This Welcome Offer may have taxation implications. We recommend that you seek independent advice to determine any tax liability or other tax implications based on your individual circumstances. Business One and Business One Plus T&Cs also apply. Westpac Group Employees or where the customer or primary account holder is a Trust are not eligible for the Offer.
Unless specifically defined in these Terms and Conditions, terms used here have the same meaning as those defined in the Westpac Deposit Accounts for Business Customers Terms and Conditions.
Mastercard® is a registered trademark and the circles design is a trademark of Mastercard International Incorporated.
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PayID® and PayTo® are registered trademark of NPP Australia Limited.