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$10
Account keeping fee
$0
ATM withdrawal fee
$5
Overseas ATM withdrawal fee
3%
Overseas transaction fee
of transaction value
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Product Name | Westpac Business One Account - Low Plan |
---|---|
Monthly account fee | $10 |
Card access | Mastercard |
ATM Withdrawal Fee | $0 |
International ATM Fee | $5 + 3% |
International transaction fee | 3% |
Monthly deposit required to waive account fee | N/A |
Contactless Payments | N/A |
Review by
Alison Banney is the banking and superannuation editor at Finder. She has written about finance for more than 8 years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.
This everyday business transaction account allows you to make unlimited electronic transactions and 25 free staff-assisted transactions (for example deposits in branch) each month. In exchange, you’ll be charged a monthly account fee of $10. The 25 included staff-assisted transactions should be more than enough for most businesses, however if you do a lot more banking in branch the Westpac Business One High Plan Account offers 60 free staff-assisted transactions per month for a $20 monthly account fee.
Westpac has one of the largest ATM networks globally, as it’s part of the Global ATM Alliance. This means you can make free withdrawals at more that 50,000 international ATMs, which could save you lots of money in ATM fees if you travel regularly for work and often use cash. Although, there is an international transaction fee of 3% of the transaction value applied to overseas card transactions. While we are starting to see more bank accounts drop this fee, it is still fairly standard across the board.
This account can help you manage your business finances by linking it to your accounting software including MYOB, XERO and Quickbooks, and the Biz Invoice platform which helps you create and manage your business invoices.
Pay no monthly plan fee (normally $10/month) for the first 12 months when you open a Westpac Business One Low Plan account online before 30 September 2022. This offer is for new account holders only.