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Business Online Saver account.
Earn interest on money set aside for tax, GST, or business goals growth - let’s grow your savings together.
Who it’s for.
The Westpac Business Online Saver is a flexible, no-fees savings account for businesses.
It’s ideal for:
- Small and medium-sized businesses (SMEs)
- Sole traders
- Business owners who want to set aside money for GST, tax, or future expenses
- Those who want to keep funds separate from everyday spending.
Benefits.
- No monthly account maintenance or transaction fees1.
- Earn a flat interest rate on any account balance in credit.
- No minimum balance required.
- No fixed term – deposit and withdraw at any time.
Business Online Saver features.
24/7 access
Manage your savings anytime using Business Online, Westpac One®, or our ATMs.
Earn daily interest
Earn interest daily on your full balance, paid monthly (less resident withholding tax).
Easy transfers and deposits
Transfer funds using Business Online, Westpac One or ATMs. Depositing regularly from another account? Set up an automatic payment or SweepOver to move funds across.
Instant withdrawals
Transfer funds to your business transaction account for immediate access to your money.
How it works.
To open a Business Online Saver account you need:
- A Westpac business transaction account
- Online access through Westpac One®, Business Online banking or Corporate Online) .
Any transfers from your Business Online Saver account must go directly to your business transaction account. You can’t withdraw cash at an ATM, but you can check your balance or transfer funds any time
Interest rates.
Interest is calculated daily on the full credit balance and paid (less resident withholding tax) on the last day of each month.
Interest rates quoted are subject to change. The above rates are not available to financial institutions. Full details of the terms and conditions are available here or from any Westpac NZ branch.
Fees.
These fees relate to Business Online Saver account only. If fees apply to the account which money is being transferred to or from, standard fees will apply¹.
Things you should know.
1 Some other service fees may apply from time to time, including overdrawn or Line of Credit charges. See the Business Transaction and Service Fees brochure for more details.
Interest rates and fees are subject to change without notice.
The Reserve Bank of New Zealand – Te Pūtea Matua Depositor Compensation Scheme (DCS) protects deposits in New Zealand banks and other deposit takers. You may be entitled to a payment under the DCS in some circumstances. Read more information on Depositor Compensation Scheme.