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Westpac Business One Account

Shirley Liu
Shirley Liu
Last updated:  

Get the Westpac Business One Transaction account if your business involves making a large number of transactions.

The Westpac Business One Transaction account is ideal for businesses that transact frequently, whether through cheques, bank assisted transactions or online. To maintain this account you have to pay a monthly fee and you get to take advantage of free transactions up to a monthly transaction value.

$20

Account keeping fee

$0

ATM withdrawal fee

$5

Overseas ATM withdrawal fee

3%

Overseas transaction fee

of transaction value

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Details

Product NameWestpac Business One Account - High Plan
Monthly account fee$20
Card accessMastercard
ATM Withdrawal Fee$0
Internatonal ATM Fee$5
International transaction fee3%
Monthly deposit required to waive account feeN/A
Contactless PaymentsN/A

Expert review

Shirley Liu

Review by

Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.

Expert review

You can also add a business overdraft and have e-statements provided.

Key features

Monthly plan fee

You have to pay an ongoing monthly plan fee of $20 for as long as the account remains active.

Monthly free transaction value

This account comes with a monthly free transaction value of $50, and you have to start paying transaction fees when you exceed this value. This $50 value translates to 100 cheques or 50 branch transactions, and you can use a combination of both.

How to apply

You can apply online, you can get started over the phone, or you can visit any Westpac branch. To submit an online application, visit Westpac website. You can apply if you're over 18 years of age and meet the following eligibility criteria.

Eligibility

  • As a sole trader:
    • You have an Australian residential address and currently reside in Australia
    • You have an Australian business
    • Your business has an ABN
    • You wish access to your account using a debit card and online banking

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