Latest business special offers
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Win Grand Final box seats for you and 3 mates
From 13th July – 6th September 2026, open a business transaction account + make 10 eligible transactions of $20 or more and you’re in the draw**.
- Tick - Open a Business One or Business One Plus account
- Tick - Make 10 transactions of $20 or more
- Tick - You're in the draw!
Terms and conditions apply**
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Free Legal and Accounting Support Offer
Free Legal and Accounting Support offer with our partner Lawpath^.
- Tick - Enjoy two free consultations,
- Tick - Unlimited live chat with real advisors,
- Tick - Free access to monthly workshops, and a,
- Tick - 20% discount on additional legal and accounting services.
Offer available to new and existing Business One and Business One Plus customers only.^
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Get a $100 welcome
You could earn $100 cashback with a new account.
- Tick - Open a new $0 monthly fee business transaction account,
- Tick - Deposit a minimum of $100 in a single transaction within the first 10 days using the description WELCOME100.
New business customers only. T&Cs apply.#
What's included with a Business Transaction account?
Simplify your business finances
Access Business Money Tools in the Westpac App to track cash flow, manage expenses and stay on top of your business finances.
$0 monthly fees
Business One charges no monthly account keeping fee, making it one of the lowest-cost everyday business accounts available.
Make tax time simpler
Link your Business One or Business One Plus to accounting software such as MYOB, Xero and QuickBooks using bank feeds to help keep your financial records up to date.2
Integrate payment options
In-person payments made possible. Accept card payments anywhere with the EFTPOS Air app on your compatible phone or tablet, with no additional hardware required.
How do Westpac business transaction accounts compare?
| Features | Business One | Business One Plus |
|---|---|---|
| Best for | Online-first businesses, sole traders | Businesses with regular branch visits |
| Monthly fee | $0 | $10 |
| Branch transactions | $3 each | 5 free per month |
| Online application | Yes, in under 5 minutes | Yes, in under 5 minutes |
| Accounting software integration | MYOB, Xero, QuickBooks² | MYOB, Xero, QuickBooks² |
| Partner offers/rewards | Lawpath, MYOB, Optus | Lawpath, MYOB, Optus |
| EFTPOS/payments integration | EFTPOS Air app | EFTPOS Air app |
| $100 welcome offer | Yes (T&Cs apply)# | Yes (T&Cs apply)# |
Partner offers are now available on Business One
Our $0 monthly fee account holders can now get access to additional partner offers. Get discounts on energy, accounting software, legal services, online security, business support services and electronics.
Set your business up for success with up to $10K of value for your business*
Switch between accounts
Need more flexibility? You can switch between Business One and Business One Plus ($10 monthly fee applies) online. Simply log in to your Westpac Business account to make the switch. Switch to Business One Plus for 5 free staff-assisted transactions per month in-branch, or switch back to Business One if your needs change. Manage your business banking your way.
How do I open a business transaction account?
Westpac ProtectTM Online Banking Security Guarantee
If your Westpac account is compromised as a result of internet fraud, we guarantee to repay any missing funds, provided you comply with our Online Banking Terms and Conditions.
Need a no-fee bank account for a not-for-profit?
Open a Westpac Community Solutions One transaction account, designed for charities and other not-for-profit organisations, with no monthly or transaction fees, so 100% of your money goes to supporting your cause.
Frequently asked questions
A business transaction account is an everyday bank account used to manage a business's income and expenses. It allows businesses to receive payments, pay suppliers, transfer funds, and access money via debit card, online banking, or branch. Westpac's Business One account has a $0 monthly fee, while Business One Plus at $10 per month includes five free branch transactions per month.
Westpac's Business One and Business One Plus transaction accounts have no minimum monthly balance requirement. There is no penalty for holding a low balance, and the $0 monthly fee on Business One applies regardless of how much money is in the account.
Westpac business customers can switch between Business One and Business One Plus at any time by signing into Online Banking. There is no fee to switch. The $10 monthly fee for Business One Plus applies from the date of switching. You can also switch back to Business One if your banking needs change.
The ID and documents you'll need depend on your business structure.
Find out what information we need from new customers
If you're already a Westpac business customer and have the appropriate account opening entitlements linked to your profile, you may be eligible to open an account online. You'll need your Westpac Online banking sign in details and to save you time, we'll pre-fill details we already know about you.
Business structures such as ‘sole trader’ may not be required to have a separate bank account, but it could be a good idea to consider getting one. Read our 4 reasons to separate business banking from personal article to find out why.
Structures such as ‘limited liability company’ and ‘corporation’ are required to have a separate bank account for tax purposes.
When choosing a business bank account, compare monthly fees, transaction limits and fee structures, online banking features, accounting software integration, branch access, and any partner offers included with the account. For most online-first businesses, a $0 monthly fee account with unlimited electronic transactions is the lowest-cost option. For businesses with regular cash or cheque deposits, a flat monthly fee covering branch transactions may cost less overall.
Westpac offers several account types depending on your business needs:
Business transaction accounts: for everyday income and expenses, paying suppliers, and accessing funds by debit card or online transfer. See Business One and Business One Plus.
Business savings accounts: for surplus funds you may need to access at short notice, typically earning interest with no fixed term.
Business term deposit accounts: for surplus funds you can set aside for a fixed period in exchange for a higher interest rate.
Foreign currency accounts: for businesses making or receiving payments in overseas currencies, reducing conversion costs and exchange rate risk.
Specialist accounts: for not-for-profit organisations, agricultural businesses, and statutory trust requirements.
The best business bank account for a small business depends on how often you bank in person and what features you need. For businesses that mainly bank online, a $0 monthly fee transaction account like Business One avoids ongoing costs. For businesses that regularly visit a branch, Business One Plus at $10 per month includes five free branch transactions, which may cost less than paying per-transaction fees.
Westpac business transaction accounts can be opened online in under five minutes. Sole traders, companies with one or more directors, and existing Westpac business customers can apply entirely online. If you are not eligible to apply online, you can book an appointment to open an account at a Westpac branch.
Switching banks may be simpler than you think, including moving your business finances from a personal account to a business bank account. Read our Switching banks for your business article.
Business tools and support
Things you should know
Select the 'Find out more' buttons to check your eligibility for any of our transaction accounts.
** Please read the full Terms and Conditions for the Westpac Business Transaction Banking NRL Competition here (PDF 157KB).
To be eligible for the $100 Welcome Offer, you must (1) open a Business One or Business One Plus transaction account (Account) (2) have deposited a minimum of $100 in a single transaction within 10 Days of account opening and (3) you must also add a payee description "WELCOME100" to the deposit transaction when transferring the $100 into your new account from another account or financial institution.
Eligibility is limited to a single offer per Account and a single offer per customer. The Offer is available to new Business One or Business One Plus transaction account customers that open a new Account during the Offer Period. Where a Joint Account has been opened, eligibility is limited to a single offer to the primary account holder. The primary account holder is not eligible if, in the last two years, the primary account holder had held or already hold a Business One, Business One Plus, Business One Low Plan or Business One High Plan transaction account.
The $100 Welcome Offer will be provided by way of direct deposit to the newly opened Business One or Business One Plus account within 60 Business days after you meet the eligibility criteria. You are not eligible to receive the offer if you do not include the payee description of "WELCOME100" to the transfer of funds.
The Offer is available from 3rd February 2025 until 30th September 2026 (Offer Period), however, the Offer may be withdrawn or varied at any time without notice or for any reason. We may refuse to provide you or withdraw the Welcome Offer payment if, without limitation, we reasonably believe that (i) you do not comply with these Terms and Conditions or the Terms and Conditions of Business One or Business One Plus, (ii) your account is fraudulent, (iii) you are not acting in good faith, or (iv) you have closed your Business One or Business One Plus account prior to us depositing the $100 Welcome Offer into your new account. This Welcome Offer may have taxation implications. We recommend that you seek independent advice to determine any tax liability or other tax implications based on your individual circumstances. Business One and Business One Plus T&Cs also apply. Westpac Group Employees are not eligible for the Offer.
Unless specifically defined in these Terms and Conditions, terms used here have the same meaning as those defined in the Westpac Deposit Accounts for Business Customers Terms and Conditions.The Lawpath Legal and Accounting Offer provides the first 10,000 Eligible Westpac customers with access to certain Lawpath legal and accounting services for a period of 12 months, subject to these Terms and Conditions
You are eligible if, at the time you accept the Offer, you hold a Westpac Business one or Business One Plus transaction account; you do not hold an active Lawpath Legal Advice Plan or Accounting Advice Plan (including any paid, trial, promotional, bundled or discounted plan); and have not previously accepted this Offer.
The Offer includes the following Plan Inclusions:
- two (2) complimentary 30-minute consultations with a qualified Lawpath lawyer and/or accountant;
- unlimited on-demand live chat access with qualified Lawpath lawyers and accountants during business hours [AEST, Mon–Fri, 9AM - 5PM];
- access to monthly live legal and accounting education workshops delivered via the Lawpath platform; and
- a 20% discount on Lawpath's standard rates for additional legal or accounting services engaged outside the Offer, excluding disbursements, filing fees and GST.
the Offer will be available to the first 10,000 Eligible Customers who accept the Offer unless otherwise varied or withdrawn by Westpac. Once accepted, you have 12 months from acceptance to access the Plan Inclusions. Changes to or withdrawal of the Offer will not affect customers who have already accepted it.
Eligible Customers can accept the Offer via the Business Centre section in Westpac Online Banking or the Westpac App. After acceptance, Eligible Customers access the Plan Inclusions directly through the Lawpath platform.
The Offer and Plan Inclusions are subject to Lawpath’s Offer Terms, Terms and Conditions of Use, including the Consultation terms .
Westpac is not a party to the Legal and Accounting Offer and does not provide, endorse, or guarantee Lawpath’s legal and accounting services made available under this Offer. To the extent permitted by law, Westpac accepts no responsibility and excludes all liability for any loss, damage or liability suffered or incurred by an Eligible Customer arising from, or in connection with, the acceptance or use of the Offer, including any acts, omissions, errors or negligent advice of Lawpath or associated service providers.
Your rights under Australian consumer laws are not affected. At the end of the 12-month access period, you may be offered the option to move to a paid Lawpath plan, with no automatic renewal or billing without your consent. These terms and conditions are governed by the laws of New South Wales, Australia. Any disputes arising in connection with this Offer will be subject to the non-exclusive jurisdiction of the courts of New South Wales.Bank feeds must be set up with third-party service provider before it can be connected in Westpac Online Banking. If your third-party service provider doesn’t appear in the drop-down menu in Westpac Online Banking, you may need to check that your third-party service provider is registered with Westpac. Should there be any changes to your user access or network access levels, you may need to disconnect your bank feed(s) as any access changes won’t impact bank feeds. The products and services offered by third-party service providers are subject to their own terms and conditions and fees and charges. Westpac doesn’t guarantee or endorse the services or products offered by third-party service providers.