How to open a Business Term Deposit online
Westpac Online Banking customers can open a Term Deposit online, quickly and easily.
Before you can open a Term Deposit online, we need to know how your business is structured in Online Banking
How to open Business Term Deposits in Online Banking
After you have logged in, navigate to Business Term Deposit in Products then Business products then Term Deposit
Things you should know
Fees, charges and terms and conditions apply. This information does not take into account your personal objectives, financial situation or needs. Read the terms and conditions below before making a decision and consider whether the product is appropriate for you. 1. Rate applies for a single term. Higher or lower rates may apply for subsequent terms. You must provide a minimum of 31 days’ notice to access funds prior to maturity (except in cases of hardship). Early withdrawal may reduce returns. 2. Any bonus rates offered above may only be available through Westpac Online Banking. Westpac Online Banking will be available to update Term Deposits from 8:00am to 9.30pm on a Business Day and 8:00am to 4:00pm Saturdays (Sydney time) 3. Customers must be registered for online banking and business network users must have term deposit entitlements turned on to be able to open or renew online on behalf of their business network. If the rate applying to your term deposit is a special or standard rate and your term deposit rolls over automatically, it may be automatically re-invested at a lower rate than the initial rate (including any initial special rate). 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 apra.gov.au.
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