Westpac Business One Account

Westpac Business One Account

Maximum Variable Rate


Account Keeping Fee


Are you looking for a bank account that is suitable for small or new businesses?

  • Ideal for businesses with a low number of business transactions
  • Link your account to a Business Debit MasterCard
  • Unlimited electronic transactions

Product details

The Westpac Business One - Low Plan Account is ideal for businesses that carry out a limited number of transactions as well as for new businesses. Link this account to a Business Debit MasterCard and access your funds easily. You get to make unlimited electronic transactions for free. This account attracts a nominal monthly fee. In return, you get to use a monthly allowable fee allowance.

Product Name
Westpac Business One Account - Low Plan
Monthly Account Fee
Debit Card Access
ATM Withdrawal Fee
Interest Rate p.a.
Flat monthly fee with an included monthly free transaction value of $17. 28 cheques or 17 branch transactions included in monthly allowable transaction value.
Joint Application

What are the features of the Westpac Business One - Low Plan Account?

  • Unlimited electronic transactions. Business One - Low Plan account holders can make unlimited electronic transactions for free.
  • Debit MasterCard. You can use the Business Debit MasterCard to withdraw cash from ATMs and to transact at EFTPOS terminals. Using your card details to shop or pay your bills online and over the phone is also possible. The bank does not charge any fees if you use your card at a non Westpac Group branded ATM in Australia. However, an ATM operator fee charged by the ATM owner may apply.
  • Using overseas ATMs. You can use your MasterCard to withdraw cash from any ATM that displays the MasterCard logo. You don’t have to pay an overseas ATM cash withdrawal fee if you use an ATM that belongs to an institution that is part of the Global ATM Alliance. Otherwise, a $5 fee applies. Balance enquiries at overseas ATMs are free.
  • Chequebook. You can get an optional chequebook at no extra cost. After you exceed the monthly allowable transaction value, each cheque you write attracts a $0.60 fee.
  • BPAY and Pay Anyone. You can use BPAY to pay your bills online without incurring any fees. Transfers to other Westpac or non Westpac accounts using Pay Anyone is free.
  • Periodical payments. Periodical payments initiated online don't attract any fees. You’ll have to pay applicable fees if you make international periodical payments or periodical payments using cheques.
  • Business telephone banking. You can use the bank’s business phone banking system to make 20 free enquiries per month. Beyond this, you pay a $0.25 fee for self-service and a $0.65 fee for a staff-assisted enquiry. You don’t have to pay the excess fees if the minimum monthly balance in the account exceeds $5,000 or if a minimum overdraft of $5,000 is in place.
  • Online banking. You can make unlimited number of enquiries using the bank’s online banking platform.
  • Monthly fee. To maintain this account you have to keep paying an ongoing monthly fee of $10.
  • Allowable transaction value. You get a monthly allowable transaction value of $17, which you can use to cover transaction fees. For example, this value would result in 17 free branch transactions or 28 free cheques.
  • eStatements. You can access eStatements at any time using online banking. This service does not attract any fee.
  • Export your transactions. Exporting transaction details to your accounting software is easy, so you can save time as well as money.
  • Business overdraft. By linking your account to an optional overdraft facility you can get easy access to required funds as and when needed. You would have to meet the bank’s lending criteria to qualify for the overdraft.


  • Access your money thru online, mobile and phone banking
  • Free to switch plans with no charge
  • Business overdraft available


  • Only for businesses with small number of transactions per month
  • A $10 fee applies every month for the plan

How do I apply for the Westpac Business One - Low Plan Account?

You can apply for the Business One - Low Plan Account online, over the phone or by visiting any Westpac branch. If you wish to submit an online application, simply click on the ‘Go to Site’ button. To apply, you have to meet some basic eligibility criteria:

  • Minimum age. You should be at least 18 years old.
  • Residency requirement. You should have an Australian residence address. Your business should be registered in Australia.
  • Depository requirement. This account does not have a minimum opening or ongoing balance requirement.

Completing the application successfully requires that you provide different kinds of information:

  • Identification. All authorised signatories on the account have to complete a legally mandated identity verification process. You can do this using an acceptable form of ID such as your Australian driver’s license or passport.
  • Business details. Provide your business name and type of business. To verify the existence of your business you can provide an Australian Business Number (ABN), Australian Company Number (ACN), Australian Registered Business Number (ARBN) or Australian Registered Scheme Number (ARSN).
  • Other information required. You’ll have to provide personal and contact details of all authorised signatories as well as contact details of your business.

The bank opens the account as soon as you complete all the required formalities, which includes going through the ID check. Once the account is open, you should receive the Business Debit MasterCard in mail within the next seven to 10 business days.

Back to top Back to top Back to top

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

Ask a question