Business Accounts

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

Westpac Deposit Accounts for Business Customers Terms and Conditions

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

Deposit Accounts for Business Customers Terms and Conditions (PDF 876KB)

Summary of changes, effective 27 October 2023

Section Reference	Change Description
Summary of Fees and Charges	Consolidation of ATM-related information. ATM related fees information now consolidated under updated ‘ATMs’ section.
Other bank charges	Consolidation of ATM-related information. ATM related fees information now consolidated under updated ‘ATMs’ section.
Other bank charges	Reduced the Overseas Telegraphic Transfer (outward) fee from $10.00 to Nil per transfer in foreign currency via Online Banking and specified that the $10.00 per transfer in foreign currency applies to Corporate Online.
1. When do fees get charged to my account?	Consolidation of ATM-related information. ATM related fees information now consolidated under updated ‘ATMs’ section.
1. When do fees get charged to my account?	Included information about how to request application of interest, fees, and charges to and from other eligible accounts.
4. Transaction fees	Consolidation of ATM-related information. ATM related fees information now consolidated under updated ‘ATMs’ section.
5. How does the Bank charge these excess transactions?	Consolidation of ATM-related information. ATM related fees information now consolidated under updated ‘ATMs’ section.
10. Giving a Person the authority to use your account	Amended the wording for clarity and accuracy for processes and procedures.
19. How to close your account	Amended the wording for clarity and accuracy for processes and procedures
20. Different ways of making deposits	Removed references to Smart ATM, specific brands and types of deposits.
23. ATMs	Removed references to maximum daily transaction/withdrawal limits (which ceased to apply after 19 August 2023) and inserted clarifying language regarding when a daily limit would apply to a customer’s card. Where indicated, removed definitions of ‘Maximum daily transaction limit’ and ‘Maximum daily spend limit’ from the Definitions section.
24. POS Terminals	Inserted clarifying language to address characteristics of Full access cards.
30. BPAY	Amended wording for clarity on consequential loss, and in relation to our limitation of liability.
32. Issue of Westpac Business Debit Mastercards	Removed the limit on the number of cards issuable to a customer and removed the full access card requirement for the Primary Cardholder.
34. Authorising Westpac Business Debit Mastercard transactions.	Updated section to clarify how a ‘request for authorisation’ is processed.
	Updated section to clarify how delayed authorisations are processed, noting that where the subsequent invoice for the actual amount is different than the authorised amount for a transaction, the authorised amount will remain on your account and temporarily reduce the available balance until the actual purchase amount is properly processed (cleared).
35. Rules about your Westpac Business Debit Mastercard	Updated to state that authorised Users can cancel Cards linked to an eligible account via Online Banking.
	Updated example for when a transaction that exceeds the daily limit can be processed.
	Amended the wording for clarity and accuracy for processes and procedures
	Consolidation of ATM-related information. ATM related fees information now consolidated under updated ‘ATMs’ section.
39. What happens if your details change?	Amended wording for clarity in relation to our limitation of liability.
45. When we may delay or refuse transactions	Amended wording for clarity in relation to our limitation of liability.
New Section Payments in error	Inserted new section regarding payments made in error.
48. Changes to Terms and Conditions	Updated information on when and how we will notify customers of changes to terms and conditions.
Definitions	Updated section to reflect simplification of references to ATM-related terms.
Definitions	Removed references to maximum daily transaction/withdrawal limits (which ceased to apply after 19 August 2023) and inserted clarifying language regarding when a daily limit would apply to a customer’s card. Where indicated, removed definitions of ‘Maximum daily transaction limit’ and ‘Maximum daily spend limit’ from the Definitions section.

Westpac Cash Investment Account Terms and Conditions

Westpac Cash Investment Account

Westpac Cash Investment Account Terms and Conditions (PDF 307KB)

Summary of changes, effective 27 October 2023

Section Reference	Change Description
Introduction	Amended the wording for clarity on the terms and conditions and how we may notify you of changes.
Explaining fees and charges	Included information about how to request application of interest, fees, and charges to and from other eligible accounts.
Summary of features and benefits – Westpac Cash Investment Account.	Included Private Bankers as to how the account can be opened.
5. Giving someone else the authority to use your account.	Included circumstances where we may remove an authority to operate on an account.
11. Closing your accounts.	Amended wording for clarity in relation to where we may exercise discretion to close accounts or refuse transactions.
27. Anti-Money Laundering and Counter-Terrorism financing obligations	Amended section heading from ‘Anti-Money Laundering and Counter-Terrorism financing obligations’ to ‘When we may delay or refuse transactions’.
27. When we may delay or refuse transactions	Amended wording for clarity in relation to our limitation of liability.
29. Changes to Terms and Conditions	Updated information on when and how we will notify customers of changes to terms and conditions.
New Section Payments in error	Inserted new section regarding payments made in error.

Westpac Notice Saver Terms and Conditions

Westpac Notice Saver

Westpac Notice Saver Terms and Conditions (PDF 225KB)

Summary of changes, effective 27 October 2023

Section Reference	Change Description
Summary of Account fees and charges	Reduced the Overseas Telegraphic Transfer (outward) fee from $10.00 to Nil per transfer in foreign currency via Online Banking and specified that the $10.00 per transfer in foreign currency applies to Corporate Online.
Summary of Account fees and charges	Included information about how to request application of interest, fees, and charges to and from other eligible accounts.
Changes to the Terms and Conditions	Updated information on when and how we will notify customers of changes to terms and conditions.
Account Authority	Included circumstances where we may remove an authority to operate on an account.
New Section Providing us with your company or business Tax File Number	Added a new section regarding requirements to provide ABN and TFN details.
Anti-Money Laundering and Counter-Terrorism financing obligations	Amended section heading from ‘Anti-Money Laundering and Counter-Terrorism financing obligations’ to ‘When we may delay or refuse transactions’.
New Section When we may delay or refuse transactions	Amended wording for clarity in relation to our limitation of liability.
New Section Payments in error	Inserted new section regarding payments made in error.

Westpac Term Deposits & Farm Management Deposits Terms and Conditions

Term Deposit & Farm Management Deposit

Summary of changes, effective 27 October 2023

Section Reference	Change Description
1. Opening your Account	Included wording for clarity around initial funding period and account closure.
23. When we may delay or refuse transactions	Amended wording for clarity in relation to our limitation of liability
New Section Payments in error	Inserted new section regarding payments made in error

Westpac Business Debit Mastercard Terms and Conditions

Westpac Business Debit Mastercard Terms and Conditions (PDF 304KB)

Summary of changes, effective 27 October 2022

Section Reference	Change Description
Card cancellation	Updated to state that authorised Users can cancel Cards linked to an eligible account via Online Banking.
Definitions Use of the different types of Business Debit Mastercard	Removed references to maximum daily transaction/withdrawal limits (which ceased to apply after 19 August 2023) and inserted clarifying language regarding when a daily limit would apply to a customer’s card. Where indicated, removed definitions of ‘Maximum daily transaction limit’ and ‘Maximum daily spend limit’ from the Definitions section.
Issue of Business Debit Mastercard	Removed the limit on the number of cards issuable to a customer and removed the full access card requirement for the Primary Cardholder.
Authorising Business Debit Mastercard transactions - Mismatched authorisations	Updated section to clarify how a ‘request for authorisation’ is processed.
Authorising Business Debit Mastercard transactions - Delayed authorisations	Updated section to clarify how delayed authorisations are processed, noting that where the subsequent invoice for the actual amount is different than the authorised amount for a transaction, the authorised amount will remain on your account and temporarily reduce the available balance until the actual purchase amount is properly processed (cleared).
Use of the different types of Business Debit Mastercard, Business Handycard and Handycard	Updated example for when a transaction that exceeds the daily limit can be processed.
When limited liability applies	Correction of typo reference ‘$50’ to ‘$150’ Amended wording for clarity in relation to our limitation of liability.
Card cancellation Card re-issue Changes to Terms and Conditions New section Payments Made in Error	Amended the wording for clarity and accuracy for processes and procedures.

Westpac Business Express Deposit Terms and Conditions

Business Express Deposit Account Terms and Conditions (PDF 197KB)

Summary of changes, effective 27 October 2023

Section Reference	Change Description
4. Conditions of Use Introduction 8. Our Limited Liability to you	Amended wording for clarity in relation to our limitation of liability.
6. Fees and Charges 11.3 Variations to the Fees and or Conditions of Use.	Amended wording for clarity in relation to fees and charges.
7. Processing your deposits (if you are not present during opening of Business Express Deposit Bag and counting) 7.8. Third Party Cheques 11.6. External Service Providers	Amended the wording for clarity and accuracy for processes and procedures.
12. Definitions Throughout the document	Removed the defined term ‘In-store’, including all references throughout the document.

Periodical Payments Terms and Conditions

FSR Period Pay Terms & Conditions

Summary of changes, effective 27 October 2023

Section Reference	Change Description
Non-payment/late payment	Amended wording for clarity in relation to our limitation of liability.
Changes to terms and conditions within table reference to New fee or increase to a fee	Amended wording for clarity in relation to fees and charges.
Stopping payments Changes to terms and conditions	Amended the wording for clarity and accuracy for processes and procedures.
Types of Periodical Payments and Fee table	Amended wording to refer to relevant section in account terms and conditions for fees relating to Overseas Telegraphic Transfers and Bank Cheques.

BPAY Biller, Direct Debit and Credit Information Service

Import Payee, Biller, Direct Debit & Credit Information Service Terms and Conditions and General Information (PDF 146KB)

Summary of changes, effective 8 November 2023

Section Reference	Change Description
Our provision of the Service	Amended the wording for clarity on how we service you as an independent service provider.
Our liability is limited	Amended the wording for clarity on our liability in relation to using these services.

Products no longer for sale

Find the current T&Cs and recent changes.

Westpac Deposit Accounts for Business Customers (No longer available for sale) Terms and Conditions

Business Cheque, Business Cheque Plus, Superannuation and Long Service Leave, Westpac Self Super Online, Westpac Business One – High Plan, Westpac Business Cash Reserve Bonus, Business One (Security Deposit Accounts), Westpac Community Solutions Cash Reserve Bonus, and Bank Undertaking Security Deposit Account

Deposit Accounts for Business Customers (No longer available for sale) Terms and Conditions (PDF 658KB)

Summary of changes, effective 27 October 2023

Section Reference	Change Description
Summary of Fees and Charges	Consolidation of ATM-related information. ATM related fees information now consolidated under updated ‘ATMs’ section. Footnote added to ‘Self-service (electronic) deposits’ and ‘Staff assisted deposits’ fees.
Other bank charges	Consolidation of ATM-related information. ATM related fees information now consolidated under updated ‘ATMs’ section. Footnote added to ‘Self-service (electronic) deposits’ and ‘Staff assisted deposits’ fees.
Other bank charges	Reduced the Overseas Telegraphic Transfer (outward) fee from $10.00 to Nil per transfer in foreign currency via Online Banking and specified that the $10.00 per transfer in foreign currency applies to Corporate Online.
5. How does the Bank charge these excess transactions?	Consolidation of ATM-related information. ATM related fees information now consolidated under updated ‘ATMs’ section. Footnote added to ‘Self-service (electronic) deposits’ and ‘Staff assisted deposits’ fees.
10. Giving a Person the authority to use your account	Amended the wording for clarity and accuracy for processes and procedures.
12. Current account information and account statements	Removed reference to ATMs. Removed references to the ATM mini-statement.
13. Different ways of making deposits	Removed references to Smart ATM, specific brands and types of deposits.
17. BPAY	Amended wording for clarity on consequential loss, and in relation to our limitation of liability.
21. How to close your account	Amended the wording for clarity and accuracy for processes and procedures.
23. Issue of Westpac Business Debit Mastercards	Removed the limit on the number of cards issuable to a customer and removed the full access card requirement for the Primary Cardholder.
24. Use of the different types of Westpac Business Debit Mastercards	Removed references to maximum daily transaction/withdrawal limits (which ceased to apply after 19 August 2023) and inserted clarifying language regarding when a daily limit would apply to a customer’s card. Where indicated, removed definitions of ‘Maximum daily transaction limit’ and ‘Maximum daily spend limit’ from the Definitions section.
25. Authorising Westpac Business Debit Mastercard transactions	Updated section to clarify how a ‘request for authorisation’ is processed.
	Updated section to clarify how delayed authorisations are processed, noting that where the subsequent invoice for the actual amount is different than the authorised amount for a transaction, the authorised amount will remain on your account and temporarily reduce the available balance until the actual purchase amount is properly processed (cleared).
26. Rules about your Westpac Business Debit Mastercard, Business Handycard and Handycard	Consolidation of ATM-related information. ATM related fees information now consolidated under updated ‘ATMs’ section. Footnote added to ‘Self-service (electronic) deposits’ and ‘Staff assisted deposits’ fees.
	Updated to state that authorised Users can cancel Cards linked to an eligible account via Online Banking.
	Removed references to maximum daily transaction/withdrawal limits (which ceased to apply after 19 August 2023) and inserted clarifying language regarding when a daily limit would apply to a customer’s card. Where indicated, removed definitions of ‘Maximum daily transaction limit’ and ‘Maximum daily spend limit’ from the Definitions section.
	Updated example for when a transaction that exceeds the daily limit can be processed.
	Amended the wording for clarity and accuracy for processes and procedures.
27. Your choices at a glance	Consolidation of ATM-related information. ATM related fees information now consolidated under updated ‘ATMs’ section. Footnote added to ‘Self-service (electronic) deposits’ and ‘Staff assisted deposits’ fees.
29. ATMs	Existing ATM information has been consolidated into one centralised table under a section titled ‘ATMs’, which covers: - What you can do at an ATM - Limits or restrictions that apply - Fees that may be charged Customers can refer to westpac.com.au/ouratms for additional information.
40. What happens if your details change?	Amended wording for clarity in relation to our limitation of liability.
47. When we may delay or refuse transactions	Amended wording for clarity in relation to our limitation of liability.
New Section Payments in error	Inserted new section regarding payments made in error.
50. Changes to Terms and Conditions	Updated information on when and how we will notify customers of changes to terms and conditions.
Definitions	Updated section to reflect simplification of references to ATM-related terms.
Definitions	Removed references to maximum daily transaction/withdrawal limits (which ceased to apply after 19 August 2023) and inserted clarifying language regarding when a daily limit would apply to a customer’s card. Where indicated, removed definitions of ‘Maximum daily transaction limit’ and ‘Maximum daily spend limit’ from the Definitions section.

Business Accounts Terms and Conditions

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Products no longer for sale