Getting a Westpac Business Account: Ultimate Guide for Business Owners

If you are a business owner in need of a business account, then Westpac is worth considering. This leading financial institution offers a range of business accounts designed to meet the needs of businesses of all sizes. Whatever your business needs, there's sure to be a Westpac business account that's right for you.

With over 150 years of experience, Westpac has a reputation for providing high-quality financial services to its customers. You can trust Westpac to provide you with the support and guidance you need to manage your business finances effectively. So, whether you're just starting out or looking to take your business to the next level, a Westpac business account could be the perfect solution for you.

To help you get started, this guide will provide you with all the information you need to know about Westpac business accounts, including the different types of accounts available, the fees and charges associated with each account, and how to apply for an account.

westpac business account

Here are 5 important points about Westpac business accounts:

Designed for businesses of all sizes
Range of accounts to suit your needs
Competitive fees and charges
Easy to manage online or via app
Access to a range of business services

With a Westpac business account, you'll get the support and guidance you need to manage your business finances effectively.

Designed for businesses of all sizes

No matter what size your business is, Westpac has a business account that's right for you. From sole traders and freelancers to large corporations, Westpac has the experience and expertise to help you manage your finances effectively.

Westpac offers a range of business accounts, each with its own features and benefits. So, whether you're looking for a simple everyday account or a more comprehensive account with a wider range of features, Westpac has you covered.

If you're not sure which account is right for you, Westpac's friendly and knowledgeable staff can help you choose the account that best suits your business needs.

With Westpac, you'll get the support and guidance you need to manage your business finances effectively. So, whether you're just starting out or looking to take your business to the next level, a Westpac business account could be the perfect solution for you.

To learn more about Westpac business accounts, visit their website or speak to a Westpac representative today.

Range of accounts to suit your needs

Westpac offers a range of business accounts to suit the needs of businesses of all sizes. Whether you're a sole trader, a small business, or a large corporation, Westpac has an account that's right for you.

Here are some of the most popular Westpac business accounts:

Everyday Business Account: This is a simple and affordable account for everyday business banking. It includes a range of features, such as unlimited EFTPOS transactions, online and mobile banking, and access to a dedicated business manager.
Business Choice Account: This account is designed for businesses with more complex banking needs. It includes all the features of the Everyday Business Account, plus additional features such as multiple user access, a business overdraft, and access to a wider range of business services.
Business Premier Account: This account is designed for large businesses with substantial banking needs. It includes all the features of the Business Choice Account, plus additional features such as a dedicated relationship manager, access to tailored financial solutions, and priority banking services.

In addition to these standard business accounts, Westpac also offers a range of specialised business accounts, such as:

AgriBusiness Account: This account is designed for businesses in the agricultural sector. It includes a range of features tailored to the needs of farmers and other agricultural businesses.
Professional Services Account: This account is designed for businesses in the professional services sector, such as accountants, lawyers, and doctors. It includes a range of features tailored to the needs of professional service businesses.

With such a wide range of business accounts to choose from, you're sure to find one that's right for your business needs.

Competitive fees and charges

Westpac understands that businesses need to keep their costs down, which is why they offer competitive fees and charges on their business accounts.

The fees and charges for Westpac business accounts vary depending on the type of account and the features and services you choose. However, you can be sure that Westpac's fees and charges are always competitive.

Here are some of the most common fees and charges associated with Westpac business accounts:

Account service fee: This is a monthly fee that covers the cost of maintaining your account. The fee varies depending on the type of account you have.
Transaction fees: These are fees charged for each transaction you make, such as EFTPOS transactions, ATM withdrawals, and deposits.
Overdraft fees: If you use an overdraft facility, you will be charged an interest rate on the amount you borrow.
International transaction fees: If you make transactions in foreign currencies, you will be charged a fee.

Westpac also offers a range of fee-free banking options to help businesses save money. For example, you can avoid account service fees by maintaining a minimum balance in your account or by making a certain number of transactions each month.

To learn more about the fees and charges associated with Westpac business accounts, visit their website or speak to a Westpac representative.

Easy to manage online or via app

Westpac makes it easy for you to manage your business finances online or via their mobile app. With Westpac's online and mobile banking services, you can:

Check your account balance and transaction history
Make payments and transfer money
Set up and manage direct debits and automatic payments
Apply for loans and other financial products
Contact your bank manager or customer service

Westpac's online and mobile banking services are secure and easy to use. You can access your accounts 24/7, from anywhere in the world.

If you prefer to bank in person, Westpac has a network of over 1,000 branches across Australia. You can also use your Westpac debit card to access your accounts at any Westpac ATM.

No matter how you choose to bank, Westpac makes it easy for you to manage your business finances.

To learn more about Westpac's online and mobile banking services, visit their website or speak to a Westpac representative.

Access to a range of business services

In addition to providing a range of business accounts, Westpac also offers a wide range of business services to help you manage your finances and grow your business.

Business loans: Westpac offers a range of business loans to help you finance your business needs, such as equipment purchases, property purchases, and working capital.
Business overdrafts: A business overdraft can give you access to extra funds when you need them. You can use an overdraft to cover unexpected expenses or to finance short-term projects.
Merchant facilities: If you accept credit and debit card payments, Westpac can provide you with a merchant facility. This will allow you to process card payments quickly and easily.
Foreign exchange: Westpac can help you with all your foreign exchange needs, such as buying and selling foreign currency, making international payments, and hedging against currency fluctuations.

Westpac also offers a range of other business services, such as:

Financial planning: Westpac's financial planning team can help you develop a financial plan to achieve your business goals.
Business insurance: Westpac can help you find the right business insurance to protect your business against a range of risks.
Superannuation: Westpac can help you set up and manage a superannuation fund for your employees.

FAQ

Here are some frequently asked questions about Westpac business accounts:

Question 1: What types of business accounts does Westpac offer?
Answer 1: Westpac offers a range of business accounts to suit businesses of all sizes, including sole traders, small businesses, and large corporations. Some of the most popular business accounts include the Everyday Business Account, the Business Choice Account, and the Business Premier Account.

Question 2: What are the fees and charges associated with Westpac business accounts?
Answer 2: The fees and charges for Westpac business accounts vary depending on the type of account and the features and services you choose. However, Westpac's fees and charges are always competitive. You can also avoid account service fees by maintaining a minimum balance in your account or by making a certain number of transactions each month.

Question 3: Can I manage my Westpac business account online or via app?
Answer 3: Yes, you can manage your Westpac business account online or via the Westpac mobile app. With Westpac's online and mobile banking services, you can check your account balance and transaction history, make payments and transfer money, set up and manage direct debits and automatic payments, apply for loans and other financial products, and contact your bank manager or customer service.

Question 4: What business services does Westpac offer?
Answer 4: Westpac offers a range of business services to help you manage your finances and grow your business, including business loans, business overdrafts, merchant facilities, foreign exchange, financial planning, business insurance, and superannuation.

Question 5: How do I apply for a Westpac business account?
Answer 5: You can apply for a Westpac business account online, over the phone, or in person at a Westpac branch. To apply online, simply visit the Westpac website and click on the 'Business banking' tab. To apply over the phone, call Westpac's business banking hotline on 132 032.

Question 6: What are the benefits of having a Westpac business account?
Answer 6: There are many benefits to having a Westpac business account, including competitive fees and charges, easy online and mobile banking, access to a range of business services, and the support of Westpac's experienced business banking team.

Question 7: Do you have tips for choosing the right business account?

Answer 7: Yes, here are a few tips for choosing the right business account:

Consider the size of your business and your banking needs.
Compare the fees and charges of different accounts.
Make sure the account has the features and services you need.
Consider your future business plans and whether the account can grow with your business.

If you have any further questions about Westpac business accounts, please visit the Westpac website or speak to a Westpac representative.

Now that you know more about Westpac business accounts, here are some tips for getting the most out of your account:

Tips

Here are four practical tips for getting the most out of your Westpac business account:

Tip 1: Use online and mobile banking.

Westpac's online and mobile banking services are convenient and easy to use. You can manage your finances anywhere, anytime. With Westpac's online and mobile banking services, you can:

Check your account balance and transaction history
Make payments and transfer money
Set up and manage direct debits and automatic payments
Apply for loans and other financial products
Contact your bank manager or customer service

Tip 2: Take advantage of Westpac's business services.

Westpac offers a range of business services to help you manage your finances and grow your business. These services include business loans, business overdrafts, merchant facilities, foreign exchange, financial planning, business insurance, and superannuation.

Tip 3: Keep track of your spending.

It's important to keep track of your business spending so that you can identify areas where you can save money. Westpac's online and mobile banking services make it easy to track your spending. You can also use Westpac's business credit card to earn rewards points on your business purchases.

Tip 4: Get regular financial advice.

It's a good idea to get regular financial advice from a qualified financial adviser. A financial adviser can help you develop a financial plan to achieve your business goals. Westpac offers a range of financial planning services to help you manage your finances and grow your business.

By following these tips, you can get the most out of your Westpac business account and manage your finances effectively.

Westpac is a leading financial institution that offers a range of business accounts and services to help you manage your finances and grow your business. With Westpac, you can be sure that you're getting the support and guidance you need to succeed.

Conclusion

Westpac is a leading financial institution that offers a range of business accounts and services to help you manage your finances and grow your business. Whether you're a sole trader, a small business, or a large corporation, Westpac has an account that's right for you.

With Westpac, you'll get:

Competitive fees and charges
Easy online and mobile banking
Access to a range of business services
The support of Westpac's experienced business banking team

So, if you're looking for a business bank account that can help you manage your finances effectively and grow your business, then Westpac is the perfect choice for you.

To learn more about Westpac business accounts, visit the Westpac website or speak to a Westpac representative today.