Business Online Saver

With a competitive interest rate and no monthly account maintenance or transaction fees, it makes sound business sense to save online. This account is ideal for building up funds towards regular outgoings like tax, GST and PAYE. 

Key benefits

Key benefits

• Manage and keep track of your savings online
• Free on-call access to your money 24/7 via Business Online banking, Westpac One and ATMs
• One competitive interest rate, whatever your account balance*
• No minimum balance
• No monthly account maintenance fee or transaction fees

*Interest is calculated daily on the full credit balance and paid (less resident withholding tax) into your Business Online Saver account on the last business day each month.

Note: To operate a Business Online Saver account, you must hold a Westpac business transaction account and be able to access your account online via Westpac One, Business Online banking, Corporate Online or DeskBank. Any transfers from your Business Online Saver can only be made directly to your business transaction account. ATM access is for balance enquiry and funds transfers only—no cash withdrawals can be made.

Easy transfers and deposits?

  • You can transfer funds using Business Online banking, Westpac One or ATMs. Depositing money regularly from another account? Set up an automatic payment or Sweep Over. 

Instant withdrawals 

  • Just make an electronic transfer from your Business Online Saver account to your Business Transaction account, free of charge, and use the funds straight away. 
Interest rates

Business Online Saver - Interest rates
Interest is calculated daily on the full credit balance and paid (less resident withholding tax) into your Business Online Saver account on the last business day each month.
BalanceRate
All balances 0.10% p.a.

Fees

Business Online Saver - Fees
Note: Any transactions made at another bank's ATM will incur an additional $1 charge each time. The term 'free' refers to Westpac fees only. These fees relate to Business Online Saver only. If fees apply to the account which money is being transferred to or from, standard fees will apply.
Fee description Fee amount
Account maintenance fee
All balances
Free 
All electronic deposits and withdrawals
Free 
Internet transfers
Free 
ATM - balance enquiry/transfer of funds
Free 
Phone banking transfers
Third party telephone fees may apply
First ten calls each month are free (then 50c per call)