download the finder app! App

Westpac Business One – Low Plan Account

An everyday transaction account for your business that offers unlimited electronic transactions and a linked Business Debit Mastercard.

SPECIAL OFFER: $0 Monthly Plan Fee

Pay $0 Monthly Plan Fee for 12 months when you open a new Westpac Business One Low Plan account online before 3 December 2021. The Monthly Plan Fee is normally $10, so you could save up to $120 with this offer. T&Cs apply and are available on Westpac's site.

No reviews yet. Write a review
Avatar
Alison Banney
Last Updated

$10

Account keeping fee

$0

ATM withdrawal fee

$5

Overseas ATM withdrawal fee

3%

Overseas transaction fee

of transaction value

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Details

Product NameWestpac Business One Account - Low Plan
Monthly account fee$10
Card accessMastercard
ATM Withdrawal Fee$0
International ATM Fee$5 + 3%
International transaction fee3%
Monthly deposit required to waive account feeN/A
Contactless PaymentsN/A
Go to siteMore info

Review by

Alison Banney is the banking and investments 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.

Expert review

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 a 3% international transaction fee 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.

Key features

Unlimited electronic transactions

Westpac Business One - Low Plan account holders can make unlimited electronic transactions for free. This includes BPAY transactions and electronic transfers to other Westpac or non Westpac accounts.

Up to 25 free staff-assisted transactions per month

You're entitled to 25 staff-assisted transactions and cheque transactions each month free of charge. This includes staff-assisted deposits and withdrawals and cheques written, collected or deposited. After the 25 transactions have been used, a transaction fee for each staff-assisted transaction will apply.

How to apply

Eligibility

You can apply for the Business One - Low Plan Account online. 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.
Go to siteMore info

Ask an expert

To ask a question simply log in via your email or create an account.

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

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site