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Summary

Here’s a quick recap before you start your application.

Business One

An everyday bank account designed for businesses that mainly bank electronically, and rarely bank in branch.

  • Bank online, on mobile, by phone, and in branch
  • $0 monthly fee
  • Unlimited free electronic transactions1
  • $3 per staff-assisted transaction
  • Business Debit Mastercard with temporary card lock feature2,3
  • Optional overdraft facility4

Eligibility check for online opening

  • Sole trader, sole director or already a Westpac business customer (association, company, partnership, SMSF, trust, or not-for-profit)
  • Operating in Australia with an Australian address
  • 18+ years old (applicant plus all signatories)

Other info

  • $3 staff-assisted transactions include cheques written, collected, and deposited, branch assisted deposits and withdrawals, and narrated credits
  • See T&Cs (PDF 556KB) for fees that may apply to other banking activity
  • Business One does not pay interest


 

Things you should know
^Introductory fixed bonus rate:

Bonus offer available from 20/11/2023 for a limited time only for new Business Cash Reserve accounts who have never held a Business Cash Reserve account before.

Not available for all customers who are relationship managed. If you’re experiencing issues with getting this bonus offer, please contact a Westpac branch

Not available in conjunction with any other offer unless we determine otherwise

We reserve the right to withdraw, amend or extend this offer at any time.

 

1. Fees may be incurred for certain electronic transactions such as foreign transactions and withdrawals from some overseas ATMs. Customers must be able to meet any applicable fees and charges. For a complete view of fees, please refer to our Terms and Conditions (PDF 556KB).


2. Business Debit Mastercard® holders need to be at least 18 years of age, and other eligibility criteria apply.
 

3. Card Lock will temporarily stop new transactions on your card for up to 15 days or until reactivated. The card will reactivate after 15 days if you do not cancel the card. Cards to which a temporary lock can be applied will be listed when you sign in to Mobile Banking or Online Banking and visit Lock a card temporarily under Cards services.
 

4. Optional overdrafts are subject to credit approval, eligibility criteria and fees.