Westpac Business One Plus account
- Account keeping fee
- ATM withdrawal fee
- Overseas ATM withdrawal fee
- Overseas transaction fee of transaction value
This business transaction account could suit you if you do a mix of online and in-person banking. You can make unlimited free electronic transactions, plus 25 free staff-assisted transactions per month.
There is a $10 monthly account fee with this account. However, if you make a lot of your business transactions in branch it could be worth the monthly fee as each staff-assisted transaction would otherwise cost $3. If you don’t make any transactions in branch and do all your banking online, you could consider the Westpac Business One account instead which has no monthly fee and no fee-free staff-assisted transactions included.
As well as accessing free staff-assisted transactions, this account gives you access to a range of special offers and discounts from partner business brands which are exclusively available to Business One Plus account holders. This could also justify the $10 monthly account fee, depending on whether or not the deals are of interest to you.
This account can also help you manage your business finances by setting up bank feeds to your accounting software including MYOB and XERO.
Unlimited free electronic transactions
25 free staff-assisted transactions per month
Banks feeds to MYOB and XERO
Access exclusive offers from partner brands
Free Westpac Business Debit Mastercard
$10 monthly account fee applies
International transaction fees apply
|Product Name||Westpac Business One Plus Account|
|Monthly account fee||$10|
|Own network ATM fee||$0|
|International ATM Fee||$5|
|International transaction fee||3%|
|Monthly deposit required to waive account fee||N/A|
|Minimum opening deposit||N/A|
$10 monthly account fee
This account has a $10 monthly account fee, which unlocks some extra benefits compared to the Westpac Business One Account which has no monthly fee.
Fee free electronic transactions
You can make unlimited electronic transactions. This includes BPAY transactions and electronic transfers to other Westpac or non Westpac accounts.
25 free staff-assisted transactions per month
You can make 25 free staff-assisted transactions per month (these are transactions made in branch with the help of a Westpac staff member). In comparison, the Westpac Business One Account which has no monthly fee charges $3 per staff-assisted transaction.
Access exclusive offers
Westpac Business One Plus account holders can access special offers from a range of business partners, including MYOB, AGL, Bitdefender, Lawpath, AWS and Samsung. These offers are only available to Westpac Business One Plus customers.
Free linked Business Debit Mastercard
You can link this account with a Business Debit Mastercard to withdraw cash from ATMs and to make purchases online and in store wherever Mastercard is accepted around the world. The Debit Mastercard comes with PayPass so you can make secure tap & go purchases without entering your PIN for transactions less than $100.
Access more than 10,000 ATMs in Australia for free and more than 50,000 ATMs globally
You can access more than 10,000 ATMs in Australia for free, including Westpac Group ATMs and also ATMs owned by ANZ, NAB and CommBank. If you use an ATM outside of these networks, Westpac won't charge you a fee but the ATM operator may charge its own fee.
You'll pay no withdrawal fee at more than 50,000 ATMs overseas via the Global ATM Alliance. If you use a global ATM outside of this alliance, a $5 fee applies.
Access your account via the Westpac app
You can see both your personal Westpac accounts and your Business One Plus account side-by-side in the Westpac app.
Business Online Banking and Business telephone banking
You'll receive access to Westpac's Business Online Banking portal with this account, and you can make unlimited enquiries using the online banking portal. You can also use the Westpac's Business Telephone Banking system.
Link your bank account to your accounting software
You can link your Business One Account to accounting software including MYOB, XERO and Quickbooks to easily import your business account balances and transaction history.
Instant payments with PayID
You can receive money transfers instantly and securely using PayID, which allows you to use your mobile number or ABN instead of your account number to receive money.
How to apply
To apply, you have to meet some basic eligibility criteria:
- Business type. You can only apply online if you're a sole trader, a 1-director company or an existing Westpac business customer. All other business entities (including partnerships, companies, associations, SMSFs and trusts, and not-for-profits) can apply in branch.
- Minimum age. You must be at least 18 years old.
- Residency requirement. You must be operating in Australia with an Australian address.
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.
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