Business Interest Account

Make your money work harder for you with a transaction account that earns a higher rate of interest on your everyday working capital. All you have to do is keep your balance in check. Interested?

Key benefits

• Earn interest whenever your account is in credit
• No monthly account maintenance fee if you maintain an average credit balance of $5,000 or more
• Worldwide, 24/7 account access via Business Online banking and Westpac One
• 24/7 account access via EFTPOS and ATMs
• Optional Debit MasterCard®* to access your money anywhere MasterCard is accepted
• Optional overdraft to help with cash flow and unexpected expenses (subject to lending criteria)
• Personalised chequebook

*Only available for those business customers with accounts where one person can authorise a transaction

 Select faster, cheaper payment options

• Set up automatic payments, direct credits and debits
• Make single or multiple payments online
• Collect payments via direct debits and EFTPOS/credit card merchant facilities

And of course you can also pay bills by cheque.

Sole Traders: open a Business Interest Account in Westpac One

If you’re a Sole Trader, registered for Westpac One, and have at least one business account with Westpac, you can open a Business Interest Account now. Just select ‘New account’ from the ‘I want to…’ menu.
As soon as you open the account you’ll be able to start using it right away.

Interest rates and fees

Business Interest Account - Interest rates
Interest is calculated daily, and paid on the last business day of each month (less resident withholding tax).
Balance Rate
Balance less than $20,000
0.10% p.a.
Balance between $20,000 and $49,999 0.10% p.a.
Balance between $50,000 and $99,999 0.10% p.a.
Balance between $100,000 and $249,999 0.10% p.a.
Balance between $250,000 and $499,999 0.10% p.a.
Balance $500,000 and over 0.10% p.a.

Business Interest Account - Fees
Account maintenance and transaction fees are charged to your account on whatever day of the month you choose. Any transactions or balance enquiries made at another bank's ATM will incur an additional $1 charge per transaction. Service fees apply.
Fee description Fee amount
Account maintenance fee
$4 per month
Account benefits and relationship rewarding A reward rebate is calculated and paid up to the level shown, subject to the total reward rebate not exceeding the amount of account maintenance and transaction charges paid for that month.
average monthly balance less than $5,000 $0 rebate
average monthly balance $5,000 or more $4 rebate
Electronic transactions Phone Banking and Online Banking available with single and either/or signing rule authorisation only.
Eftpos, Westpac ATM transfers/withdrawals, automatic payments once set up (service fee applies to set up or amend), direct debits/credits, bill payments, online and phone banking payments
30c per transaction
Manual transactions
Cheques, Westpac ATM deposits, deposits and withdrawals at a branch
75c per transaction