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$0 a month Business One transaction account

Use this everyday business bank account to easily manage your income and outgoings. It gives you the flexibility to bank the way you want to online, on mobile, by phone, and in branch.

Get all this for $0 monthly fee:

  • Unlimited free electronic transactions¹
  • $3 per staff-assisted transaction
  • Access your business and personal finances in the one app and in Online Banking
  • Business Debit Mastercard®²
  • Eligible account for EFTPOS Air mobile app
  • Optional overdraft facility.³

Open an account online if you're:

  • A sole trader, 1-director or
  • Already a Westpac business customer

If you’re not eligible to apply online, open an account at any branch.

Get rewarded when you open a new business bank account

Pocket $100 when you open a new business transaction account, plus earn an introductory fixed interest rate^ of 2.54% p.a. for the first 5 months on balances up to $9,999 when you team it up with a Business Cash Reserve savings account:

Pocket $100 on us!

Open a new business transaction account, deposit $100 within the first 10 days using the description WELCOME100 and pocket a $100 gift card on us.

New business customers only. Accounts opened between 1st February and 30th June 2024. T&Cs apply.#

Earn a 2.54% p.a. bonus introductory interest rate^

Team your business transaction account with a new Business Cash Reserve savings account to receive an introductory fixed interest rate for the first 5 months on balances up to $9,999.

New Business Cash Reserve customers only. Accounts opened from 20/11/2023. T&Cs apply.^

Clear, simple and secure business banking

Easily switch between profiles

See all your banking in one place in Online Banking and the Westpac App7. Manage your personal and business accounts side by side with a single sign in.

Online security guaranteed

We'll repay any missing funds if your account is compromised as a result of Internet fraud, as long as you've complied with our T&Cs.4

Receive payments securely

Avoid scams and receive fast, secure business payments using your ABN or mobile number as a PayID. Set up PayID in minutes.

Lock your debit card temporarily

Avoid the hassle of cancelling if you’re concerned you may have lost your debit card. Lock it for up to 15 days while you look, in Online Banking or the Westpac App.5

Save time on accounting

Keep your digital records in order for tax time with eStatements, and set up bank feeds to  accounting software such as MYOB and Xero.6

Bank whenever it suits you

Manage your banking, pay bills, and monitor your finances 24/7 in Online Banking and the Westpac App; or drop into a branch during opening hours.

Eligibility check

  • Sole trader, partnership, company, association, SMSF, trust, or not-for-profit
  • Operating in Australia with an Australian address
  • 18+ years old (applicant plus all signatories).

What to take if you’re applying in branch

For your security, we’re required to check your ID and other documents before you can open a business account. 

Unsure of your business structure? Find out using your business registration.


ID options:

  • Driver licence or passport, OR
  • Birth/citizenship certificate PLUS Medicare card or recent utility bill in your/their name.

Check out other ID options (PDF 657KB)

Fees and interest

  • $0 monthly fee
  • $0 for electronic transactions¹
  • $3 staff-assisted transactions include cheques written, collected, and deposited, branch assisted deposits and withdrawals, and narrated credits. See T&Cs (PDF 556KB) for fees that may apply to other banking activity
  • Business One does not pay interest.
  • 15.01% p.a. Unarranged Lending Rate (ULR) is a debit interest rate charged to a transaction account if it becomes overdrawn without arrangement.

Make more of your business account with popular add-ons

Add an EFTPOS solution

For fast, reliable payments, choose a standalone machine or a terminal that integrates with your POS system.

Add a savings account

Earn interest on surplus funds set aside for things such as tax payments, equipment upgrades or unexpected expenses.

Discover a new, easier way to take payments

Once you’ve opened a business transaction account, apply for the EFTPOS Air app to take payments using just your phone.

Explore EFTPOS Air

Things you should know

This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement and consider whether the product or service is right for you


# $100 Bonus Offer: This Offer is available to selected customers only and is subject to eligibility requirements.

To be eligible for the $100 Bonus Offer (Bonus Offer) you must (1) open a Business One or Business One Plus transaction account (2) have deposited $100 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 only.  Where a Joint Account has been opened, eligibility is limited to a single offer to the primary account holder. You are not eligible if, in the last two years, you have held or already hold a Business One, Business One Plus, Business One Low Plan or Business One High Plan transaction account.

The $100 bonus will be provided by way of a physical EFTPOS Gift Card sent to you approximately 60 days after you meet the eligibility criteria. Delivery of the Bonus Offer will only be made to your nominated postal address for this account. You are not eligible to receive the gift card if you have not provided a valid postal address as part of your Business One or Business One Plus application.

The offer is available from 1 February 2024 for a limited time only. Offer may be withdrawn or varied at any time without any prior notice. We may refuse to provide you or withdraw the Bonus 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, Business One Plus or the Gift Card program, (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 delivering the gift card to you. This Bonus 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 and Gift Card T&Cs also apply. Westpac Group Employees and Trusts are not eligible for the offer.

^Introductory fixed bonus rate:

Bonus offer available from 20/11/2023 for a limited time only for new Business Cash Reserve accounts who have never held a Business Cash Reserve account before.

Not available for all customers who are relationship managed. If you’re experiencing issues with getting this bonus offer, please contact a Westpac branch

Not available in conjunction with any other offer unless we determine otherwise

We reserve the right to withdraw, amend or extend this offer at any time.


1. Fees may be incurred for certain electronic transactions such as foreign transactions and withdrawals from some overseas ATMs. Customers must be able to meet any applicable fees and charges. For a complete view of fees, please refer to our Terms and Conditions (PDF 556KB).

2. Business Debit Mastercard® holders need to be at least 18 years of age, and other eligibility criteria apply.

3. Optional overdrafts are subject to credit approval, eligibility criteria and fees.

4. If your Westpac account is compromised as a result of Internet fraud, we guarantee to repay any missing funds, providing you comply with our Online Banking Terms and Conditions. This includes keeping your sign-in details (including passwords, Westpac Protect™ SMS codes and SecurID® Token codes) private. You must inform us immediately if you suspect the security of your access details has been compromised, or you suspect an unauthorised transaction or potential fraud on your accounts.

5. Card Lock will temporarily stop new transactions on your card for up to 15 days or until reactivated. The card will reactivate after 15 days if you do not cancel the card. Cards to which a temporary lock can be applied will be listed when you sign in to Mobile Banking or Online Banking and visit Lock a card temporarily under Cards services.
6. Read the Westpac Online Banking Terms and Conditions (PDF 417KB) before making a decision. Not all accounts are eligible to be included in a bank feed. Not all third-party service providers support bank feeds for all accounts.
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.

7. Online and app banking is subject to system availability.

Mastercard® is a registered trademark of Mastercard International Incorporated.