Westpac Business Cash Reserve

Westpac Business Cash Reserve

Maximum Variable Rate


Standard Variable Rate


Earn competitive interest on balances of $0 and more, and get free access to online and phone banking.

  • No monthly service fees
  • 24/7 access to funds online, using your tablet, mobile, phone and more
  • Earn more interest on amounts over $10,000

Product details

The Westpac Business Cash Reserve account gives businesses the ability to earn interest without locking their funds, and balances of $0 or more earn a competitive variable interest rate.


If you wish to apply for this account, you’ll also need to have a linked Westpac business transaction account.

Product Name
Westpac Business Cash Reserve
Maximum Variable Rate
0.01% p.a.
Standard Variable Rate
0.01% p.a.
Bonus Variable Rate
0.00% p.a.
Monthly Fee
Minimum Opening Deposit
Minimum monthly deposit for bonus interest rate
Internet Banking
Internet Transaction Fee
Phone Banking
Phone Transaction Fee
Joint application?
Minimum Age Requirement
Maximum Age Requirement
No Maximum Age
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

What are the features of the Westpac Business Cash Reserve account?

This savings account for businesses can work in your favour if you learn of its intricacies, and here’s what you need to know if you’re considering applying.

  • Monthly fees. This account does not attract any ongoing monthly service fees.
  • Other fees. Cheques collected or deposited attract a fee of $2.50 per cheque. You have to pay $2.50 for every staff assisted deposit, and $2.50 for every staff assisted withdrawal and narrated credit.
  • Earn interest on GST. Since this account does not require to you set aside funds for any particular duration, you can look forward to earning interest on funds you set aside in between your annual GST returns.
  • Requirement for Westpac business transaction account. In order to operate the Cash Reserve account, account holders should have a Westpac business transaction account in the same name. You need a transaction account to add or remove funds from the Cash Reserve account.
  • Transferring funds. You can transfer funds to and from this account to a linked Westpac Business account in the same as often as you like, without paying any fees. To transfer funds for free, you can turn to Westpac’s online and phone banking platforms.
  • Enquiries. You can make unlimited number of account related inquiries through online and phone banking.
  • Statements. You can choose between getting three or six monthly statements on an ongoing basis.
  • eStatements. By signing up for eStatements, account holders can access transactions from the last seven years.


  • There is $0 monthly service fee
  • Unlimited transfers and free transactions
  • Free online and phone banking


  • Extra charge for staff assisted withdrawal

How do you apply for the Westpac Business Cash Reserve?

You can apply for this business account by visiting any Westpac branch, you can apply online, and you can initiate the process over the phone. To apply for the Cash Reserve account, you’ll also have to open one of the following accounts.

  • Business One transaction account - low plan
  • Business One transaction account - high plan
  • Business Flexi account

Applying requires that you meet certain eligibility criteria, which include the following.

  • You are over 18 years of age
  • You have an Australian residential address
  • You have an Australian business
  • You can provide a valid ABN, ACN, ARBN or ARSN

Completing the application requires that you provide different types of information, which can vary depending on whether you’re applying as a sole trader, a company, or a trust.

  • Sole trader. Your complete name, date of birth, residential address, full business name, address of business and ABN.
  • Standard trust. Full name of trust, trust’s ABN, trust’s principal address, complete name of trustee, country of establishment, trust type, beneficiary details, personal information of trustees and copy of trust deed.
  • Domestic proprietary company. Full name of company, ACN, ABN, address of registered office, complete names of company directors and ASIC certificate of registration.
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2 Responses

  1. Default Gravatar
    ElizaAugust 14, 2017

    Can this account be debited and credited?

    • Default Gravatar
      JonathanAugust 14, 2017

      Hello Eliza,

      Thank you for your inquiry.

      To operate Business Cash Reserve account, you need to have a Westpac business transaction account in the same name. This would let you move funds between these accounts as often as you like, for free when using Westpac online or automated telephone banking

      Hope this helps.


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