Business Accounts Terms and Conditions

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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, Westpac Controlled Money and Separate Trust Account (Interest Bearing), Westpac Controlled Money and Separate Trust Account (Non-Interest Bearing)

Deposit Accounts for Business Customers Terms and Conditions (PDF 902KB)

Summary of changes are effective from 28 September 2026

Section Reference	Change Description
Pages 12-14 - Business transaction accounts Summary of fees and charges Pages 17-18 - Business savings and investments accounts Summary of fees and charges Pages 26-31 - Business specialised accounts Summary of fees and charges	The footnotes have been updated to clarify that: a Cheques Collected/Deposited fee may apply to each cheque deposited regardless of the channel used for the deposit, including cheques deposited through an ATM and using the Westpac App; and cheque deposits made using the Westpac App do not involve assistance from branch staff but they are classified as staff-assisted deposit transactions when calculating transaction fees and the number of staff-assisted transactions that count towards any monthly free transaction allowance.
Page 21 - Business specialised accounts Summary of features and benefits	The following wording has been removed from footnote 3 and the footnote 3 reference has been removed from the table: “Digital cheques are exempt from fees.”
Page 35 - Community solutions accounts Summary of fees and charges	The following wording has been removed from footnote 1 and the footnote 1 reference has been removed from the table: “When using an ATM, a staff-assisted deposit fee or self-service (electronic) deposit fee may apply.”
Page 37 - Other Bank Charges	The following Trancode 60/61 Deposit Book fees have been updated: Book of 25 forms, changed to Nil. Book of 50 forms, changed to Nil. Book of 100 forms, changed to Nil. ABS Summary Slips, changed to Nil.
Page 69 - ATMs	The final bullet point under “Fees that may be charged” has been updated to clarify that, when using an ATM, a Cheques Collected/Deposited fee may apply for each cheque deposited.
Pages 110 and 112 - Definitions	The combined Cheques Written or Cheques Collected/Deposited definition has been separated into two definitions: Cheques Collected/Deposited means cheques deposited by you (using a channel provided by us). Cheques Written means cheques drawn on your account and prepared by you. The Self-service (electronic) Deposits definition has been updated to clarify that cheques deposited through an ATM may incur Cheques Collected/Deposited fees.