Westpac Business One

transaction accountclosed to newstale

Business One is a transaction account from Westpac. It pays 0.00% p.a. with no bonus conditions.

Not ranked: a transaction (everyday) account, not a savings account.

Rate tiers

Every balance band in the bank's feed: base is the rate the bank pays.

One rate on every balance, with no upper limit.

Conditions

• not updated by the bank since 2026-10-28, before the Reserve Bank's cash rate rise of 4 November 2026; check its page, as the rate may have changed

Features

card

Link your account to a Business Debit Card

app

yes

PayTo

yes

Other features, in the bank's words:

• Simplify your business finances - Access Business Money Tools in the Westpac App to track cash flow, manage expenses and stay on top of your business finances.
• $0 International transfers. Send foreign currency transfers free from Westpac fees, with Online Banking. See FX rates.
• Take payments on your phone. Take in-person payments into your transaction account with the EFTPOS Air app 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 on additional legal and accounting services. Offer available to new and existing Business One and Business One Plus customers only.
• Set your business up for success with up to $10K of value for your business
• Help make tax time simpler - Link your Business One account to accounting software such as MYOB, Xero and QuickBooks using bank feeds to help keep your financial records up to date.6

Fees, limits and who can open it

monthly fee

$0

other fees named

Foreign Transaction Fee - non-AU merchant, Foreign Transaction Fee - AU merchant (no amount in the feed)

interest paid

monthly

interest calculated

daily

age

ages 18 and over

open to

business customers

closed to new

the bank's feed says the product is not available to new customers

Who can open it, in the bank's own words:

• residency: Operating with an Australian address
• Must not be an individual using the account for predominantly personal purposes
• business: Sole Trader or a company with one or more directors or a Westpac business customer

About this account

No Monthly Fee Business Account

Data

• Westpac's own page for this account.
• The bank's documents its product record links to: terms and conditions, fees, eligibility.
• Our verbatim snapshot of the bank's product record (source), as fetched on 28 October 2026.
• /au/finance/savings-accounts/v1/brands/westpac.json: this bank's accounts and every balance band as JSON; Westpac's page lists them.
• The bank last updated this record on 28 October 2026. Rates are per annum as the bank states them; "stale" means the bank has not updated the record for over 60 days or since the latest cash rate change.

Other accounts at Westpac

• 55+ and Retired savings account, 1.73% base at $50,000
• Bump Savings savings account, 5.55% conditional at $50,000
• Business Cash Reserve Savings savings account, 0.95% base at $50,000
• Business Premium Cash Reserve savings account, 0.01% base at $50,000
• Cash Investment Account savings account, 1.30% base at $50,000
• Community Solutions Cash Reserve savings account, 0.95% base at $50,000
• eSaver savings account, 1.25% base at $50,000
• Life savings account, 5.50% conditional at $50,000
• Notice Saver 31, 60 & 90 Days notice account, 0.00% base at $50,000
• Bank Account with Debit Card for Students and Young Adultsstale transaction account, 0.00% base at $50,000
• Business One - Negotiator Planstale transaction account
• Business One - Plusstale transaction account, 0.00% base at $50,000
• Choice transaction account, 0.00% base at $50,000
• Choice for Concession Holdersstale transaction account, 0.00% base at $50,000
• Choice for Migrantsstale transaction account, 0.00% base at $50,000
• Community Solutions One transaction account, 0.00% base at $50,000
• Youth Bank Account and Debit Cardstale transaction account, 0.00% base at $50,000

All of Westpac's accounts on its page, with its best rates per segment and rate kind, and every account at every bank.