Understanding your monthly repayment requirements
Each month you’re required to repay a minimum monthly payment or more, for the closing balance on your Altitude business rewards card or BusinessChoice billing account.
The minimum monthly repayment is the lowest amount you must pay, by the due date, to meet your credit agreement.
Your minimum monthly payment will be:
- 3% of the closing balance (rounded up to the nearest dollar) or $10, whichever is greater, and
- The greater of any unpaid past due amounts from previous statements or any amount that exceeds the credit limit.
You must pay the full amount of the closing balances if it is less than $10.
Options for making your monthly repayment
Auto Pay
You can take the hassle out of making repayments. Set up an automatic payment from an Australian savings or transaction account to pay your credit card or billing account each month. Choose to pay each month from a nominated account, one of the following:
- A set amount
- Minimum payment
- Closing balance in full.
To set up, complete and return the BusinessChoice Card Autopay request form (PDF 1MB) or Altitude Card Autopay form (PDF 1MB) to your nearest Westpac branch. Or, you can contact your Relationship Manager.
Online Banking
Pay from your Westpac transaction account. Transfer your funds via Online Banking or the Westpac App. For Altitude Business Platinum and Altitude Business Gold credit cards only.
BPAY
Pay via BPAY® using biller code: 5181 and your reference number. Reference number is on your statement. For BusinessChoice, this is your billing account number. For Altitude, this is your credit card number.
Banker Assisted
- Telephone banking: Pay via telephone banking, call 132 142, from 8am-8pm (Sydney time), Mon-Fri.
- Cards service centre: Pay via cards service centre, call 1300 650 107, from 8am-8pm Mon-Fri, 9am-6pm Sat-Sun (Sydney time), excluding public holidays.
- Branch: Pay at your nearest branch.
Understanding your BusinessChoice facility
What is a Billing Account?
A Billing Account is used to record a summary of the transactions for all cards linked to a BusinessChoice facility. This feature provides an easy way to keep track of spend on each individual card link to your facility and monthly repayments due.
As the owner or authority of the facility, you’ll receive one Billing Account statement, each month, with one total balance to repay.
The minimum monthly repayment or more, must be made to your Billing Account and not individual credit card(s).
What should I do if a cardholder spends their limit before the end of the month?
If your BusinessChoice facility has unallocated credit available, you can request to increase the limit allocated to a particular card.
If your facility does not have available credit, consider contacting us to increase the facility limit to meet your business needs.
Download and complete New Facility Application or Increase Existing Facility Credit Limit form (PDF 1MB).
Do I need to make payments to my individual card?
No. The owner or authority of the facility will repay closing balances for all individual cards linked to the facility by repaying the billing account.
What happens if a payment is made on an individual card?
Payments made on an individual card linked to your BusinessChoice facility will credit that card only.
- If the payment is spent in full by the cardholder and by the statement cycle date - the amount spent will be included in your closing balance.
- If only a portion of the payment is spent or spent after the end of the statement cycle date, it will appear as a credit on the individual card only and will not be included in the monthly closing balance calculations on your billing account.
- If you make a mistake in transferring to your individual card, please contact us on 1300 650 107 to reverse the payment and avoid cash advance fees and interest charges.
How do I increase my facility credit limit?
To increase the credit limit on your existing facility, complete and return the New Facility Application or Increase Existing Facility Credit Limit form (PDF 1MB) to your nearest Westpac branch. Or, you can contact your Relationship Manager.
What can I do if I am having trouble repaying my business credit card?
If you're experiencing hardship, we can help. Call us on 1800 067 497 to discuss what kind of financial support options we can provide.