Business bank accounts
Simplify your business banking with your everyday and savings accounts all in one place.
Everyday business bank accounts
Westpac's everyday business transaction accounts give sole traders and small businesses online access to their funds with $0 monthly fees, $0 electronic transactions, and accounting software integration. Switch between Business One and Business One Plus at any time in Online Banking.
Transaction accounts
Maximise your cashflow with our feature rich everyday business bank accounts.
Savings accounts
Earn interest on surplus funds set aside for things such as tax payments, equipment upgrades or unexpected expenses.
Latest business special offers
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Free Legal and Accounting Support Offer
Free Legal and Accounting Support offer with our partner Lawpath^.
- Tick - Enjoy two free consultations,
- Tick - Unlimited live chat with real advisors,
- Tick - Free access to monthly workshops, and a,
- Tick - 20% discount on additional legal and accounting services.
Offer available to new and existing Business One and Business One Plus customers only.^
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Get a $100 welcome
You could earn $100 cashback with a new account.
- Tick - Open a new $0 monthly fee business transaction account,
- Tick - Deposit a minimum of $100 in a single transaction within the first 10 days using the description WELCOME100.
New business customers only. T&Cs apply.#
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$0 establishment fee offer**
Limited time offer.
- Tick - New Overdrafts: Save $1,500 on an overdraft facility.
- Tick - Top-up Overdrafts: Save $750 when increasing an existing overdraft limit by $250,000.
- Tick - $0 establishment fee for eligible new and top-up Business Overdrafts.
- Tick - Offer available for limits up to $1 million.
- Tick - Valid for applications received and approved between 7 April 2026 and 30 September 2026.
Credit criteria, fees, charges, terms and conditions apply.
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Switch business banks easily
Our specialist team will support your switch to Westpac from start to finish with less paperwork required.
- Tick - Save time and reduce setup costs when you switch to a Business Loan, Business Overdraft or Business One Account.
- Tick - After you switch our dedicated team will review your setup and address any questions, so you can stay focused on your business.
Compare Westpac business bank accounts
Use this table to find the right Westpac business bank account for your needs. All fees are current as of August 2026.
| Features | Business One |
|---|---|
| Account type | Transaction |
| Best for | Online-first businesses, sole traders |
| Monthly fee | $0 |
| Electronic transactions | $0 |
| Branch transactions | $3 each |
| Earns interest | No |
| Online application | Yes, <5 min |
| Eligible for | All businesses |
| Features | Business One Plus |
|---|---|
| Account type | Transaction |
| Best for | Businesses with regular branch visits |
| Monthly fee | $10 |
| Electronic transactions | $0 |
| Branch transactions | 5 free/month |
| Earns interest | No |
| Online application | Yes, <5 min |
| Eligible for | All businesses |
| Features | Community Solutions One |
|---|---|
| Account type | Transaction (NFP) |
| Best for | Charities and community organisations |
| Monthly fee | $0 |
| Electronic transactions | $0 |
| Branch transactions | $0 |
| Earns interest | No |
| Online application | N/A |
| Eligible for | Not-for-profits only |
| Features | Cash Reserve |
|---|---|
| Account type | Savings |
| Best for | Earning interest on surplus cash |
| Monthly fee | $0 |
| Electronic transactions | N/A |
| Branch transactions | N/A |
| Earns interest | Yes |
| Online application | Yes, you must have a transaction account |
| Eligible for | All businesses |
Partner offers are now available on Business One
Our $0 monthly fee account holders can now get access to additional partner offers. Get discounts on energy, accounting software, legal services, online security, business support services and electronics.
Set your business up for success with up to $10K of value for your business*
Business Product Finder
Whether you're just starting out or planning your next move, we’re here to help your business explore your financial options.
Accounts for not-for-profits
Manage your non-profit finances with no transaction or monthly fees.
Specialist bank accounts
Accounts to hold and manage foreign currencies and funds held on behalf of clients.
FAQs about business bank accounts
Opening a Westpac business account can be quick and easy — especially for Sole Traders and Sole Directors, who can apply online in under 5 minutes.
The ID and documents you'll need depend on your business structure. New customers with two or more signatories will need to complete an ID and document check in branch.
Find out what information we need from new customers
If you're already a Westpac business customer and have the appropriate account opening entitlements linked to your profile, you may be eligible to open an account online.
Business structures such as ‘sole trader’ may not be required to have a separate bank account, but it could be a good idea to consider getting one. Read our 4 reasons to separate business banking from personal article to find out why.
Structures such as ‘limited liability company’ and ‘corporation’ are required to have a separate bank account for tax purposes.
When choosing a business bank account, compare monthly fees, transaction limits and fee structures, online banking features, accounting software integration, branch access, and any partner offers included with the account. For most online-first businesses, a $0 monthly fee account with unlimited electronic transactions is the lowest-cost option. For businesses with regular cash or cheque deposits, a flat monthly fee covering branch transactions may cost less overall.
Westpac offers several account types depending on your business needs:
Business transaction accounts: for everyday income and expenses, paying suppliers, and accessing funds by debit card or online transfer. See Business One and Business One Plus.
Business savings accounts: for surplus funds you may need to access at short notice, typically earning interest with no fixed term.
Business term deposit accounts: for surplus funds you can set aside for a fixed period in exchange for a higher interest rate.
Foreign currency accounts: for businesses making or receiving payments in overseas currencies, reducing conversion costs and exchange rate risk.
Specialist accounts: for not-for-profit organisations, agricultural businesses, and statutory trust requirements.
The best business bank account for a small business depends on how often you bank in person and whether you need to earn interest on surplus funds. For businesses that mainly bank online, a $0 monthly fee transaction account like Business One avoids ongoing costs entirely. For businesses that visit a branch regularly, Business One Plus at $10 per month includes five free branch transactions. If you want to earn interest on business savings, a Cash Reserve Savings Account can sit alongside your transaction account.
You can open a number of Westpac business bank accounts online without having to go into a branch, depending on how your business is structured and whether or not you're already a Westpac customer. Usually, it takes just a few minutes.
If you're a sole trader, sole director or two-director company, you can use this tool to find an account and start opening it online.
Switching banks may be simpler than you think, including moving your business finances from a personal account to a business bank account. Read our Switching banks for your business article.
Help and resources for your business
Get handy tips for starting, running, and growing your business.
Things you should know
Select the 'Find out more' buttons to check your eligibility for any of our transaction accounts.
Find out what information you need to provide to become a Westpac customer.
# $100 Welcome Offer (Welcome Offer or Offer): This Offer is available to selected customers only and is subject to eligibility requirements.
To be eligible for the $100 Welcome Offer, you must (1) open a Business One or Business One Plus transaction account (Account) (2) have deposited a minimum of $100 in a single transaction within 10 Days of account opening and (3) you must also add a payee description "WELCOME100" to the deposit transaction when transferring the $100 into your new account from another account or financial institution.
Eligibility is limited to a single offer per Account and a single offer per customer. The Offer is available to new Business One or Business One Plus transaction account customers that open a new Account during the Offer Period. Where a Joint Account has been opened, eligibility is limited to a single offer to the primary account holder. The primary account holder is not eligible if, in the last two years, the primary account holder had held or already hold a Business One, Business One Plus, Business One Low Plan or Business One High Plan transaction account.
The $100 Welcome Offer will be provided by way of direct deposit to the newly opened Business One or Business One Plus account within 60 Business days after you meet the eligibility criteria. You are not eligible to receive the offer if you do not include the payee description of "WELCOME100" to the transfer of funds.
The Offer is available from 3rd February 2025 until 30th September 2026 (Offer Period), however, the Offer may be withdrawn or varied at any time without notice or for any reason. We may refuse to provide you or withdraw the Welcome Offer payment if, without limitation, we reasonably believe that (i) you do not comply with these Terms and Conditions or the Terms and Conditions of Business One or Business One Plus, (ii) your account is fraudulent, (iii) you are not acting in good faith, or (iv) you have closed your Business One or Business One Plus account prior to us depositing the $100 Welcome Offer into your new account. This Welcome Offer may have taxation implications. We recommend that you seek independent advice to determine any tax liability or other tax implications based on your individual circumstances. Business One and Business One Plus T&Cs also apply. Westpac Group Employees are not eligible for the Offer.
Unless specifically defined in these Terms and Conditions, terms used here have the same meaning as those defined in the Westpac Deposit Accounts for Business Customers Terms and Conditions.^ Lawpath Legal and Accounting Offer Terms and Conditions
The Lawpath Legal and Accounting Offer provides the first 10,000 Eligible Westpac customers with access to certain Lawpath legal and accounting services for a period of 12 months, subject to these Terms and Conditions
You are eligible if, at the time you accept the Offer, you hold a Westpac Business one or Business One Plus transaction account; you do not hold an active Lawpath Legal Advice Plan or Accounting Advice Plan (including any paid, trial, promotional, bundled or discounted plan); and have not previously accepted this Offer.
The Offer includes the following Plan Inclusions:
- two (2) complimentary 30-minute consultations with a qualified Lawpath lawyer and/or accountant;
- unlimited on-demand live chat access with qualified Lawpath lawyers and accountants during business hours [AEST, Mon–Fri, 9AM - 5PM];
- access to monthly live legal and accounting education workshops delivered via the Lawpath platform; and
- a 20% discount on Lawpath's standard rates for additional legal or accounting services engaged outside the Offer, excluding disbursements, filing fees and GST.
the Offer will be available to the first 10,000 Eligible Customers who accept the Offer unless otherwise varied or withdrawn by Westpac. Once accepted, you have 12 months from acceptance to access the Plan Inclusions. Changes to or withdrawal of the Offer will not affect customers who have already accepted it.
Eligible Customers can accept the Offer via the Business Centre section in Westpac Online Banking or the Westpac App. After acceptance, Eligible Customers access the Plan Inclusions directly through the Lawpath platform.
The Offer and Plan Inclusions are subject to Lawpath’s Offer Terms, Terms and Conditions of Use, including the Consultation terms .
Westpac is not a party to the Legal and Accounting Offer and does not provide, endorse, or guarantee Lawpath’s legal and accounting services made available under this Offer. To the extent permitted by law, Westpac accepts no responsibility and excludes all liability for any loss, damage or liability suffered or incurred by an Eligible Customer arising from, or in connection with, the acceptance or use of the Offer, including any acts, omissions, errors or negligent advice of Lawpath or associated service providers.
Your rights under Australian consumer laws are not affected. At the end of the 12-month access period, you may be offered the option to move to a paid Lawpath plan, with no automatic renewal or billing without your consent. These terms and conditions are governed by the laws of New South Wales, Australia. Any disputes arising in connection with this Offer will be subject to the non-exclusive jurisdiction of the courts of New South Wales.
** Terms and Conditions for the $0 Establishment Fee Waiver Offer on Business Overdrafts
- We will waive the establishment fee for eligible new Business Overdrafts of up to $1 million, or for a limit increase of up to $1 million on an existing Business Overdraft.
Eligibility and timing
- Applications must be received and approved between 07 April 2026 and 30 September 2026 and settled within 90 days of approval.
- For Business Overdrafts, you must also have an eligible Westpac Business Transaction Account.
Exclusions
- The offer is not available for any other applications, including those submitted through third parties or brokers.
- Temporary Overdrafts are not included.
- We may withhold the offer where an application is reasonably determined by us to be fraudulent or materially misleading.
Approval
- All applications are subject to approval. Standard terms, conditions, fees, charges, and credit criteria apply.
How the fee waiver works
- We will waive the establishment fee or refund it within 60 days of settlement.
- If you believe an establishment fee has been charged in error, please contact us.
- Establishment fees may still apply to other products you request as part of your application.
- This offer cannot be used in conjunction with any other offer. We may vary or withdraw this offer at any time.
Westpac Community Solutions Cheque Account is available for not-for-profit organisations including companies operating on a non profit or charitable basis. Westpac reserves the right, with at least 30 days written notice, to change the account to a Business One Plus if it considers that the account is being used for profit-making purposes.
A Foreign Currency Account should not be used to speculate on foreign currencies or to conduct frequent trading of foreign currencies. A Foreign Currency Account is not an account to assist with travel needs. It cannot be linked to a Travel Money card and you cannot access your Foreign Currency Account through an ATM, either within Australia or overseas. You cannot withdraw or deposit foreign notes or coins into a Foreign Currency Account. Deposits held in Foreign Currency Accounts are not covered by the Australian Government’s Financial Claims Scheme.