Summary
Before you get started, here’s a quick recap of what you’re applying for:
Put surplus funds to work
Support your business's cash flow by setting aside savings for recurring expenses or to fund future growth, with 24/7 access to your money.
Eligibility check for online opening
To open a Business Cash Reserve account online, you must:
- Open in the same name (if you don’t already have one) a Westpac business transaction account. (Fees may apply).
- Be 18 years old or older (includes the applicant plus all signatories).
- Operate your business in Australia with an Australian address.
- Be a sole trader or sole director.
If you’re not eligible to apply online, open an account at any branch.
Are you a Sole Trader?
Are you an existing customer?
What to have handy
- Your Westpac Online Banking sign in details. To save you time, we’ll pre-fill details that we already know about you.
By continuing you agree
- You have read our Privacy Statement which explains how we collect, use and disclose your personal information, including marketing communications which we send to you.
- You have read our Financial Services Guide (PDF 249KB) which provides important information on the financial services and products we offer as a financial services licensee.
By opening the account, you agree:
- To the Deposit Accounts for Business Customers Terms and Conditions (PDF 819KB) and the Online Banking Terms and Conditions (PDF 740KB) that apply to the products and services you are applying for.
- To us sending you a Business Debit Mastercard® and linking it to your account, as set out in the Business Debit Mastercard® Terms and Conditions (PDF 287KB) (if applicable).
- To provide your consents to the actions we may take in processing your application including:
- for us to contact you about this application.
- for you to receive communications about your account, as well as account statements and terms and conditions electronically. You may change your communication preferences in Online Banking or by contacting us at any time. If you are not registered for Online Banking, you will receive account statements in paper form.
- To acknowledge your obligations including Anti-Money Laundering/Counter-Terrorism Funding requirements and our other reporting obligations if you are a foreign tax resident.
Ready to get started?
By starting your application now, it’ll be saved for 30 days if you’d like to complete it later.
What to have handy
- Your mobile phone
- Two of the below ID documents to verify your identity:
- Australian driver licence
- Medicare card
- Passport
- Australian birth certificate
- ABN and foreign tax details, if applicable.
By continuing you agree
To make it a little easier, we’ve summarised the info you need to know. If you want the full details, use the following links before starting your application.
- You agree that you’re authorised to act on behalf of the business to apply for this account.
- You have read our Privacy Statement which explains how we collect, use and disclose your personal information, including marketing communications we send to you.
- You agree to provide your consents to us.
- You will need to also acknowledge your obligations under AML/CTF and disclose if you have any other reporting obligations.
- You agree to Financial Services Guide (PDF 249KB), Online Banking Terms and Conditions (PDF 740KB),
Deposit Accounts for Business Customers (PDF 819KB),
Westpac Debit Mastercard® Terms and Conditions (PDF 338KB).
Ready to get started?
By starting your application now, it’ll be saved for 30 days if you’d like to complete it later.
Are you applying for a Sole Director Domestic Pty Ltd organisation?
Are you an existing customer?
What to have handy
- Your Westpac Online Banking sign in details. To save you time, we’ll pre-fill details that we already know about you.
By continuing you agree
- You have read our Privacy Statement which explains how we collect, use and disclose your personal information, including marketing communications which we send to you.
- You have read our Financial Services Guide (PDF 249KB) which provides important information on the financial services and products we offer as a financial services licensee.
By opening the account, you agree:
- To the Deposit Accounts for Business Customers Terms and Conditions (PDF 819KB) and the Online Banking Terms and Conditions (PDF 740KB) that apply to the products and services you are applying for.
- To us sending you a Business Debit Mastercard® and linking it to your account, as set out in the Business Debit Mastercard® Terms and Conditions (PDF 287KB) (if applicable).
- To provide your consents to the actions we may take in processing your application including:
- for us to contact you about this application.
- for you to receive communications about your account, as well as account statements and terms and conditions electronically. You may change your communication preferences in Online Banking or by contacting us at any time. If you are not registered for Online Banking, you will receive account statements in paper form.
- To acknowledge your obligations including Anti-Money Laundering/Counter-Terrorism Funding requirements and our other reporting obligations if you are a foreign tax resident.
Ready to get started?
By starting your application now, it’ll be saved for 30 days if you’d like to complete it later.
What to have handy
- Your mobile phone
- Two of the below ID documents to verify your identity:
- Australian driver licence
- Medicare card
- Passport
- Australian birth certificate
- ABN and foreign tax details, if applicable.
By continuing you agree
- You have read our Privacy Statement which explains how we collect, use and disclose your personal information, including marketing communications which we send to you.
- You can view our Financial Services Guide (PDF 249KB).
By opening the account, you agree:
- That you’re authorised to act on behalf of your business to apply for this account.
- To the Deposit Accounts for Business Customers Terms and Conditions (PDF 819KB) and the Online Banking Terms and Conditions (PDF 740KB) that apply to the products and services you are applying for.
- To us sending you a Business Debit Mastercard® and linking it to your account, as set out in the Business Debit Mastercard® Terms and Conditions (PDF 287KB) (if applicable).
- To provide your consents to the actions we may take in processing your application including:
- for us to contact you about this application.
- for you to receive communications about your account, as well as account statements and terms and conditions electronically. You may change your communication preferences in Online Banking or by contacting us at any time.
- To acknowledge your obligations including Anti-Money Laundering/Counter-Terrorism Funding requirements and our other reporting obligations if you are a foreign tax resident.
Ready to get started?
By starting your application now, it’ll be saved for 30 days if you’d like to complete it later.
Are you a Westpac Business customer?
Account details
To open a Business Cash Reserve account online, you must:
- Open in the same name (if you don’t already have one) a Westpac business transaction account. (Fees may apply).
- Be 18 years old or older (includes the applicant plus all signatories).
- Operate your business in Australia with an Australian address.
If you’re not eligible to apply online, open an account at any branch.
Business Cash Reserve
A business savings account that earns a variable interest rate. Allows access to the funds at any time via a transaction account.
- No account keeping fees
- Standard variable interest rates apply to balance tiers
- Help support your business' cash flow
- Set aside income tax and GST for BAS time
Plus, your choice of Westpac business transaction account (if you don't already have one):
Westpac Business OneIf you don’t have a business transaction account already. This everyday business account lets you access your savings account.
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Westpac Business One PlusIf you don’t have a business transaction account already. This everyday business account lets you access your savings account for $10 a month.
Prefer a Business One account? Apply for that product and add a Business Cash Reserve at the same time. Business One includes:
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What to have handy
- Your mobile phone
- Two of the below ID documents to verify your identity:
- Australian driver licence
- Medicare card
- Passport
- Australian birth certificate
- ABN and foreign tax details, if applicable.
By continuing you agree
- You have read our Privacy Statement which explains how we collect, use and disclose your personal information, including marketing communications which we send to you.
- You can view our Financial Services Guide (PDF 249KB).
By opening the account, you agree:
- That you’re authorised to act on behalf of your business to apply for this account.
- To the Deposit Accounts for Business Customers Terms and Conditions (PDF 819KB) and the Online Banking Terms and Conditions (PDF 740KB) that apply to the products and services you are applying for.
- To us sending you a Business Debit Mastercard® and linking it to your account, as set out in the Business Debit Mastercard® Terms and Conditions (PDF 287KB) (if applicable).
- To provide your consents to the actions we may take in processing your application including:
- for us to contact you about this application.
- for you to receive communications about your account, as well as account statements and terms and conditions electronically. You may change your communication preferences in Online Banking or by contacting us at any time.
- To acknowledge your obligations including Anti-Money Laundering/Counter-Terrorism Funding requirements and our other reporting obligations if you are a foreign tax resident.
Ready to get started?
By starting your application now, it’ll be saved for 30 days if you’d like to complete it later.
Complete your application in branch
Currently, you can only apply online for a Westpac Business Cash Reserve account if you’re a sole trader, sole director or already an existing Westpac business customer.
Otherwise, you’ll need to visit a branch to open your account. Please make sure you:
- Find out what ID and other documentation you'll need in the new customer checklist.
- Call the branch first to make an appointment, so we’re best prepared to help you.
Things you should know
Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.