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We're here to help

We are currently receiving a high volume of customer enquiries and appreciate your patience. We are working hard to ensure that you have the help needed to support your business at this challenging time and will respond as soon as possible. We want to assure you that we’re here to support you and here’s some options you may like to consider:

Business loan repayment deferral

Eligible Westpac business customers who need help with managing their cash flow can defer principal and interest payments# of business term loans, business auto loans, equipment finance facilities and equipment loans##, for six months

Eligibility for payment relief

The deferred payment period applies to eligible business connections impacted by COVID-19:

  • with total business exposure of less than $10 million per customer group;
  • includes commercial property customers who confirm, for the deferred payment period, that they will not terminate leases or evict tenants on the basis of non-payment of rent as a direct result of the COVID-19 outbreak;
  • where the business is operated in Australia with less than 20% foreign ownership; and 
  • for those customer's above $3 million total business exposure, with current facilities that have not been in arrears in the last 90 days.

Please note that:

  • any current fixed rate period will also be extended by 6 months at that fixed term rate; and
  • your loan term will be extended by at least 6 months.

# Interest deferred will be capitalised. Terms and Conditions and eligibility criteria apply. For Equipment Finance facilities and loans only, instalments will be deferred and finance charges will still apply over the deferred period. Instalments will be recalculated at the end of the deferral payment period and will include finance charges.

## Please note that customers with an overdraft facility should utilise their available balance in the first instance and speak to their Relationship Manager if further assistance is required. Customers with cashflow/invoice/trade finance and commercial bill facilities requiring assistance should also refer to their Relationship Manager.


Contact your Relationship Manager or apply online.

We are currently receiving a high volume of customer enquiries and appreciate your patience. We are working hard to ensure that you have the help needed to support your business at this challenging time and will respond to your application as soon as possible.  

Home loan repayment deferral

To find out more or to apply for repayment deferral, please go to the home loans support page.


New business loans

What is available?

Interest reductions

  • 2% p.a. interest rate reduction on overdrafts for new and existing customers, effective Monday 6 April 2020.
  • 1% p.a. interest rate reduction for small business cash-based loans for new and existing customers, effective Monday 6 April 2020.

These interest rate reductions are applied automatically to new and existing overdrafts and cash-based loans. There is no need to contact us.


Unsecured Lending 

To support our business customers through this challenging environment Westpac is offering an unsecured 3-year term loan up to $250,000 to eligible business customers with a turnover of less than $50 million. This offer is available with a 6 months repayment deferral, with interest to be capitalised.*

No establishment fees or monthly account keeping fees apply. Other fees and charges may apply.

Applications are available between now and 30 Sept 2020 to both existing and new customers.

Who is eligible?

In order to apply, your business must meet certain eligibility requirements as follows:

  • Businesses affected by COVID-19
  • Businesses with annual turnover of less than $50 million
  • The business must be a tax resident of Australia, that is based, registered and operating in Australia
  • Both existing Westpac customers and new customers are eligible
  • Loans must be used to support current and upcoming cash flow needs
  • Loans must be used for business purposes only
  • Loans cannot be used to refinance drawn facilities with Westpac or any other lender
  • The total sum of your unsecured loans (including those from other financial institutions) relating to COVID-19 relief must not exceed $250,000.

Ways to apply

If your business has more than $3 million in existing Westpac business lending please contact your Relationship Manager, otherwise you can apply in one of the following ways:

Existing Westpac business customer

You may already be conditionally approved for up to $75,000 in unsecured funds*.

If this is the case, sign into Westpac Live Online Banking to apply online. It generally takes less than 3 minutes. Eligibility and Credit Criteria applies.

As part of our COVID-19 Business Relief package, Business Advance only offers fixed rate unsecured loans up to $75,000. 

Existing Westpac business customer

You can enquire about a variable rate unsecured term loan of up to $250,000 by completing the form below*.

Not a Westpac customer?

You can enquire about an unsecured term loan of up to $250,000* by sending us an email 
with your name and phone number and one of our Lending Specialists will be in contact. 

Please do not supply or attach any personal or confidential information to your email. All we require is your best phone number and we will be in touch with you.


We are currently receiving a high volume of customer enquiries and appreciate your patience. We are working hard to ensure that you have the help needed to support your business at this challenging time and will respond to your application as soon as possible.


* Terms and Conditions and Eligibility Criteria apply.



Equipment finance

  • No establishment fees for equipment finance loans until the end of June 2020.

This helps small and medium businesses take advantage of the increased instant asset write-off and accelerated depreciation provisions in the Federal Government stimulus package  


Merchant terminal fee relief

What is available?

Merchant terminal rental fee refunds for 3 months

  • 3 months terminal rental fee and minimum merchant service fee; or
  • 3 months terminal rental fee and minimum monthly service fee; or
  • 3 months pricing plan fee.

Who is eligible?

Merchant customers with a total card spend of less than $5m per annum.

There is no need to apply

In the coming weeks, all eligible merchant services customers will be refunded automatically (as applicable).

Ways to bank with us

Business banking online

Online banking gives you safe access to your accounts and key banking services – from anywhere at any time. Sole traders and partnerships can register online, otherwise please complete and email an application form or visit a branch if you can.


Phone Banking 24/73

Phone Banking provides 24/7 access to funds, allowing you to obtain account balances, transfer funds and pay bills.

Call 132 142 for business banking.


Government Stimulus – JobKeeper program

The Government is offering emergency relief and financial assistance to help employers during this difficult time including the JobKeeper program. Under the Government’s new JobKeeper program, you may be able to claim a fortnightly payment of $1,500 per eligible employee.

The Government’s website contains information including whether you are eligible to claim these payments.

While you are assessing if your employees are eligible for the JobKeeper payment, we may be able to help through this challenging time. 

Business overdraft

A business overdraft can provide cash flow relief with funds to cover business expenses, such as wages.

Customers with an existing overdraft should ask us about how to apply for a temporary increase. Or you can apply for a new overdraft to get you and your employees through this time.*


Talk to your Relationship Manager or call 132 142.


To read a summary of the Government’s JobKeeper program, visit our Help for your Business hub


*Terms and Conditions and Credit Criteria apply

The JobKeeper program is a Federal Government initiative and we provide a link to the external site for your convenience. This information is provided for general information only. Please read the Government’s fact sheet to see if you are eligible and for terms and conditions that apply. You should consider seeking independent legal, financial, taxation or other advice on how the Federal Government initiatives relate to your circumstances.

Credit card repayment deferral

Who is eligible?

Repayment deferral is available to customers who hold the following credit card and who are experiencing financial hardship:

  • Westpac Altitude Business credit card
  • Westpac BusinessChoice credit card

Please note: Not available for Commercial Bank customers. Financial Hardship applications are assessed on a case-by-case basis.

What is available?

Westpac Altitude Business Cards: 

  • Defer payment option for 90 days
  • Deferral of annual fees for 3 months if required.

Westpac BusinessChoice Cards:

  • Defer payment option for 90 days
  • Deferral of annual fees for 3 months if required
  • Apply for Emergency Limit increase.


New Business Term Deposits

What is available?

Business Term Deposit special offer:

  • 1.7% p.a. interest for 12 months for personal, business and SMSF customers (up to $500,000 per customer)
  • Termination of a deposit without interest rate adjustment
  • Immediate termination within 31 days allowed when experiencing hardship.

How to apply?

To access these offers, please speak to your banker, visit a branch or call us on 132 142.

Continuity planning for your business

We appreciate your business may be disrupted by the COVID-19 situation and your customers and employees potentially impacted. We have put together steps and resources that may help you to act at a time when you may have to make significant decisions.

Frequently asked questions

The situation surrounding COVID-19 (coronavirus) is uncertain and changes frequently. Keeping up to date with government responses and knowing what you can do to look after yourself and family, your people and your business is a priority.


Here are some tips that may help:


Tips for your business:

  • Think about where your business risks might come from – trade and cash flow disruption through supply chain challenges, sick staff, general downturn, for instance. The COVID-19 support measures for business detailed above could help with financial issues.
  • Consider seeking independent professional advice about for example; your cashflow, your leave entitlement exposure, and investment plans.

Existing customers who are eligible for the JobKeeper program and require cashflow to pay their employees now before receiving payment from the ATO in May, may choose to consider if any of our existing COVID-19 support offers will meet their needs.

If you can’t get to your bank, or your Westpac branch closes temporarily due to COVID-19, you can use online banking as an alternative for a range of banking services which could help keep your business running. Opening bank accounts, applying for loans, making and receiving payments, transferring funds between accounts and sending invoices with Biz invoice can now all be done online – subject to the relevant eligibility criteria for each of these features.3


If you are a sole trader or in a partnership and you have a Westpac bank account, you can register for online banking online. Companies have to complete and email an application form or visit a branch if you can.

Getting started is easy, starting with our registration page. With a few simple steps you can manage your business banking on desktop, mobile or tablet – and we have how to guides, FAQs, videos and other support to help you if you need it.

You can reset your password from the online banking sign-in screen. Simply select ‘Forgot customer ID or password?’ and follow the prompts.

Call Customer Care team on 132 032 for personal banking or 132 142 for business banking.

Things you should know

3. Please read the Online Banking Terms and Conditions, or Phone Banking Terms and Conditions, at before making a decision and consider whether either of these products are right for you.