Skip to main content Skip to main navigation
Skip to access and inclusion page Skip to search input

6 ways to benefit from online business banking

3-minute read

Building a good working relationship with your business banker is important. However, when it comes to many aspects of your everyday (and not so everyday) business banking, you can now save yourself the trip to the bank and do much of it online and on the go.

Key take-outs
  • Many business bank accounts can now be opened and managed online
  • You may be eligible to apply for a business loan online
  • Many other online services are available to simplify your business banking

1. Manage your everyday business accounts

Many aspects of business banking no longer require you to visit a bank or make a phone call. Through Westpac Live Online Banking you can:

 

2. Do your banking on the go

With the Westpac Mobile Banking App on your phone you’ll have fast secure access to a wealth of features, allowing you to:

 

  • Manage your personal and business accounts on user-friendly screens
  • Set up one-off and regular payments
  • Get a quick balance check for up to three accounts without signing in
  • Withdraw cash without a card from ATMs
  • View transaction records and up to seven years of statements
  • View interest rate, tax and overdraft information
  • Call us without going through security questions

3. Apply for an unsecured business loan or overdraft online

We’ve made it quick and easy for existing eligible Westpac business customers to borrow unsecured finance to make business purchases, renovate, or simply smooth out the peaks and troughs of cash flow. 

 

Customers with a current conditional lending offer can now apply online for an Unsecured Business Loan1 or Unsecured Business Overdraft1 for up to $75,000 and get a conditional decision in minutes. If approved, applicants will receive a link to electronically sign the loan contract documents. Funds will then typically be accessible within one business day of our receipt of the contract.

 

Credit criteria, terms, conditions, fees and charges and online application eligibility criteria may apply1.

4. Generate and send invoices online

According to the Australian Tax Office, e-invoicing reduces the cost of invoicing by around 70%, so it may make sound economic sense to make the move online yourself.

 

If you hold a Westpac Business One Low or High Plan1 transaction account or a foreign currency account (other than in Chinese Yuan RMB)1 you can use our handy Biz Invoice invoicing tool through online banking1. Biz Invoice lets you create an invoice template, then generate, email and manage invoices from your smartphone, tablet, laptop or PC. It is complimentary with your account, though other fees and charges may apply.

5. Connect with your accounting software – and your accountant

Through Westpac Live Online Banking you can set up (and manage) a Bank Feed to connect your eligible transaction accounts with accounting software such as MYOB, Xero and many other compatible systems. This could help reduce the time you spend on manual data entry from your business accounts – and make it easier to reconcile your transactions and monitor your cash flow2.

 

Another benefit of Westpac Live is that you can choose to give your accountant third-party access to your accounts, so they can review your incomings and outgoings to help prepare your accounts.

6. Use a tool to help find and compare business banking products

Online selector tools are readily available nowadays, helping us all choose everyday products such as home electronics, clothes and even holidays. Answer a few questions and you get served with suggestions that can help you make a decision – or provide a good starting point for further research.

 

Westpac has its own selector tools to help you find and compare banking products and services that could suit your business needs. They include:

 

 

These handy tools are intuitive and simple to use, as are all our interest rates and product comparison guides.

 

Our lives are now dominated by our mobiles, with their extraordinary capabilities for communication, information provision, and life and work management. Make the most of all the timesaving features you can access through Westpac Live Online Banking – but remember that a business banker is always here to help too, with knowledge and a personal touch no machine will ever replace.


Business banking anywhere, anytime

Online banking is a safe and secure alternative to going into a branch.

Find out more


Read more

How to manage a small business from your mobile

Learn how to make the most of mobile technology to run your business on the go.

6 ways to get your invoices paid faster

Waiting around to get paid? Here are some steps you could take to ensure your invoices get paid on time. 

10 ways to make your business greener

Two positives of greening your business are that it can save you money and make you a more attractive company to do business with.

Things you should know

1. Westpac’s products are subject to terms, conditions, fees and charges; and certain criteria may apply. Before making a decision, read the disclosure documents for your selected product or service, including the Product Disclosure Statement and T&Cs for Westpac business bank accounts, business savings accounts, Foreign Currency Accounts, Unsecured Business Loans, Unsecured Business Overdrafts and online banking, by clicking the above links; and consider if the product is right for you.

 

2.  Read the Westpac Online Banking Terms and Conditions (PDF 1MB) before making a decision about Bank Feeds. Not all accounts are eligible to be included in a feed, including 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 and you will need to check if 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; and Westpac does not guarantee or endorse the services or products. 

 

The information in this article is general in nature and does not take your objectives, financial situation or needs into account. Consider its appropriateness to these factors; and we recommend you seek independent professional advice about your specific circumstances before making any decisions.