Westpac
Business One - Plus
Feature rich everyday business account. Choose this account if you bank online, on mobile, and occasionally in branch.
Savings & transaction accountsBank updated 7 Sept 2026
At a glance
- Base rate
- 0.00%
- Monthly fee
- $10
§ 01 — Rates · 2
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| PenaltyThe Unarranged Lending Rate (ULR) is a debit interest rate charged to a transaction account if it becomes overdrawn without arrangement. It will be calculated daily on the debit balance (and deducted… | — | — | — | 15.01% | — | Currently not applicable |
| Variable | — | — | — | 0.00% | — | paid every 1 mo; Currently not applicable |
§ 02 — Fees · 16
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Self-Service (Electronic) Deposits | Deposit | No fee | — | — |
| Staff-Assisted Deposit | Deposit | $3 | — | — |
| Bank Cheque Fee | Event | $10 | — | — |
| Overdrawn Fee | Event | $15 | — | — |
| Account Keeping Fee | Periodic | $10 | Every 1 mo | — |
| Cheques Collected / Deposited | Transaction | $3 | — | Applicable after free monthly transactions are exceeded. |
| Cheques Written | Transaction | $3 | — | — |
| Foreign Transaction Fee - AU merchant | Transaction | 2.20% of transaction | — | 2.2% of the $AUD transaction amount where a transaction is made in foreign currency and the merchant or financial institution accepting the card is located in Australia (comprising of 2% Westpac Proc… |
| Foreign Transaction Fee - non-AU merchant | Transaction | 3.00% of transaction | — | 3% of the $AUD transaction amount where a transaction is made in foreign currency and the merchant or financial institution accepting the card is located outside Australia (comprising of 2% Westpac P… |
| Group Telephone Banking | Transaction | No fee | — | — |
| Narrated Credits | Transaction | $3 | — | Applicable after free monthly transactions are exhausted. |
| Online Banking | Transaction | No fee | — | — |
| Periodical Payments | Transaction | No fee | — | — |
| Overseas Withdrawal Fee | Withdrawal | $5 | — | Overseas Withdrawal fee from ATMs belonging to institutions in the Global ATM Alliance (An overseas bank surcharge may also apply). Nil for cash withdrawals from Global ATM Alliance and Westpac Group… |
| Self-Service (Electronic) Withdrawals | Withdrawal | No fee | — | — |
| Staff-Assisted Withdrawal | Withdrawal | $3 | — | — |
§ 03 — Features
Digital bankingFraud protectionUnlimited transactionsRelationship managerOverdraft
- · Eligible account for EFTPOS Air mobile app: Take secure in-person payments with EFTPOS Air on your compatible phone or tablet.
- · Unlock the Free Legal and Accounting Support offer with our partner Lawpath. Enjoy two free consultations, unlimited live chat with real advisors, free access to monthly workshops, and a 20% discount…
- · Set your business up for success with up to $10K of value for your business
- · Help simplify your business finances. Use Business Money Tools to take control of your finances. In the Westpac App, the tools can help simplify money management to drive business growth.
- · Easily switch between profiles. See all your banking in one place in Online Banking and the Westpac App. Manage your personal and business accounts side by side with a single sign in.
- · Save time on accounting - Keep your digital records in order for tax time with eStatements, and set up bank feeds to accounting software such as MYOB and Xero.6
- · With PayTo, you can see, review and authorise all new PayTo payments for things such as recurring bills, memberships and subscriptions before the money leaves your account.
- · Instant Digital Card - Your Westpac Instant Digital Card provides a secure, flexible payment solution, available in the Westpac App
- · Make purchases with your mobile device. Link your card to Apple Pay, Google Pay TM or Samsung Pay TM to make fast contactless payments with your smartphone or wearable.
- · Lock your debit card temporarily. Avoid the hassle of cancelling if you?re concerned you may have lost your debit card. Lock it for up to 15 days while you look, in Online Banking or the Westpac App
- · Cancel direct debit. We can notify a company of your request to cancel a direct debit or temporarily stop the company from debiting any funds from your account for 3 years
- · Report mistaken payments. You can report selected payments in the Westpac App where you have made a mistake such as inputting an incorrect BSB or account number when making a payment.
§ 04 — Eligibility & limits
- · Minimum age 18
- · Residency: Operating with an Australian address
- · Available to businesses
- · Must not be an individual using the account for predominantly personal purposes
- · Eligible entities include sole traders, partnerships, companies, associations, self-managed super funds, trusts and not-for-profit organisations
§ 05 — Compare
§ 06 — Run the numbers
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Published by Westpac under the Consumer Data Right, last changed by them on 7 Sept 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.