Business Accounts Terms and Conditions

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Find the current T&Cs and recent changes.

Business Accounts T&Cs

Select below to find the current T&Cs and recent changes.

Westpac Business One Plus, Westpac Business One, Westpac Business One – Negotiator Plan, Westpac Business Cash Reserve, Westpac Business Premium Cash Reserve, Business One (Controlled Money and Trust Accounts), Westpac Community Solutions One, Westpac Community Solutions Cash Reserve, Statutory Trust Account, Project Trust Account and Retention Trust Account, Westpac Controlled Money and Separate Trust Account (Interest Bearing), Westpac Controlled Money and Separate Trust Account (Non-Interest Bearing)
 

Westpac Cash Investment Account
 

Westpac Notice Saver
 

Term Deposit & Farm Management Deposit
 

 

Summary of changes are effective from 28 November 2025

T&Cs (Section Reference) Change Description

Section A. Features and Benefits

Westpac Term Deposit, Westpac Farm Management Deposit and Westpac Controlled Money and Separate Trust Term Deposit

How often is interest paid? from “Monthly, yearly or at Maturity (where the term is 12 months or less) or at the end of any notice period.” to “Monthly, or (where the term is less than 12 months) at Maturity, or at the end of any notice period. For terms 12 months or greater, interest can be paid monthly, half-yearly or yearly. Any additional applicable interest is paid at Maturity.”

Section B. Your Account

Section 9. Interest rates that apply to your Account.

9.2 How the interest you earn is calculated and paid.

 Update the second paragraph of 9.2 to “Interest is calculated daily and can be paid either monthly, or (where the term is less than 12 months) at Maturity, or at the end of any notice period. For terms 12 months or greater, interest can be paid monthly, half-yearly or yearly. Any additional applicable interest is paid at Maturity.”

 

Summary of changes, effective 20 June 2025

Section Reference Change Description

Section - Use of the different types of Business Debit Mastercard

This section has been uplifted to allow a Business Network Administrator to amend a Business Debit Mastercard daily limit.