“Business ONE” account which doesn’t have any keeping fee.
To be eligible for the $100 Welcome Offer, you must:
I think the ABN is optional, not 100% sure. It asked if you have one yes/no, and selecting no just moved on to the next question of selecting what industry your business is (which was also there as the next question after selecting 'yes' to ABN).
And T&Cs says $100 will be paid to your account within 60 days, no mention of needing to keep the account open.
OP’s post says deposit within 10 days?
Also if no ABN provided, will they reject the offer even after we deposit $100?
You have to go to a branch to close the account, cannot do it via online/phone.
There’s no keeping fee for the account, so you could close it whenever you want
Monthly account keeping fees?
There’s no fees according to the website
$0 monthly fee
$0 for electronic transactions¹
$3 staff-assisted transactions include cheques written, collected, and deposited, branch assisted deposits and withdrawals, and narrated credits. See T&Cs (PDF 830KB) for fees that may apply to other banking activity
Business One does not pay interest.
15.01% p.a. Unarranged Lending Rate (ULR) is a debit interest rate charged to a transaction account if it becomes overdrawn without arrangement.
Thanks heaps!
kinda crazy that they charge personal accounts $5 monthly fees unless there's $2000 deposits, but no stupid fees or games for the business accounts.
@xrailgun: I’ve never had to pay a fee for my choice account and I rarely use it. Definitely haven’t been making any deposits
Troll…
The $100 will be deposited within 60 business days once eligibility criteria are met.
Eligibility check for online opening
Sole trader, sole director or already a Westpac business customer (association, company, partnership, SMSF, trust, or not-for-profit)
Wonder if they will actually check the account eligibility.
Where to enter the code?
Once you opened the account, transfer $100 to it, and then in the description of the transfer write down “WELCOME100”. That’s it
I cannot open an account cause the ID verification says every picture I take is blurry - anybody else having issues?
Super frustrating… why does it need to be done with a bloody app with an in-built camera and not just let me type my details in :X
It didn’t ask for any type of photo ID from me.
You sure you’re in the right path?
Maybe you already bank with Westpac and they don't.
That’s not the case at all.
I wasn’t their customer, neither any of my family members, we did the same without any photo verification or something!
Same here…
New business customers only. Accounts opened between 03/02/2025 and 30/09/2025. T&Cs apply.#
Thanks OP.
Took less than 5 mins to open. Half that time was updating an old address.
Took me 1 min to open an acoount, existing Westpac customer. Do we need to keep $100 in that account to get $100 welcome credit or can we move out $100 straightaway? Didn't find in terms and conditions, going to call them on Monday
Yeah, let us know
Following.
Account opened in less than minute due to be old existing customer. Selected sole trader, no ABN, went through fine.
Opened it in 2mins max
Showing:
We weren’t able to open your account/s.
Please visit a Westpac branch to open your account/s.
Try turning your VPN off
thanks, no VPN.
really no idea why.
Happened to me too because I previously had a Westpac account which was closed. I needed to sign up as an existing customer using my old customer ID
Applied - took less than 1 min due to having existing account.
Waiting game begins now
Don’t forget to transfer $100 with description WELCOME100
Thanks, took me 1.47 seconds to open account
beat you by 0.01sec
Can you open even if you are not a business customer
Yes
What if I'm already a credit card customer? No other accounts though
I believe as long as you haven't held one of these accounts, you're fine.
opened an account a few weeks back, got the $100 a few days ago, the 100 you transfer in to be eligible doesn't need to stay in the account, once its been transferred with the WELCOME100 description
legend
Did you need an ABN attached to it?
Same. Opened an account and deposited $100 on 19/3, got the bonus on 22/4.
Does this account automatically come with a Business Debit Mastercard? If so, when can we expect to receive it?
Got the card in the mail about a week after
Does this account automatically come with a Business Debit Mastercard? If so, when can we expect to receive it?
I may have opened this business account before as they already had my ABN… worth a shot.
interesting that one is a $100 giftcard eftpos though
guess this one is straight up money :o
Does this show in the same Westpac app as your personal banking?
Yes
Oh, that's perfect, I've been loving Westpac recently.
Opened one. Thanks OP. Just waiting for 100 now
Can I transfer the $100 from an existing Westpac personal account or does it have to be a transfer from a non-Westpac account?
OP's third point seems to state it can be from another account within Westpac
Went through process. Error message at the end.
Same. Tried again straight away and fine. ??
Done now though - show me the money Jerry.
This is a business account, error may be because of this user name?
Looks like I messed up something, instead of clicking next, clicked the back button by mistake and the system is saying "application is being processed" - and stuck at 75%. But I can see business one BSB and account number in my customer portal.
Same and did the deposit already
I keep getting
"Sorry, we are experiencing technical difficulties."
Edit, seemed to go through regardless of the error finally
looks like they pickedup on high signups and blocked signups. cant open even when you are westpac customer.
Opened two accounts 10 mins ago fine.
Ozb'd. We seem to be experiencing problems and could not create your account/s .
I got that. You can provide ACN, which is essentially more than 500 AUD expenditure for registration.
Westpac EFTPOS Air is handy, with 1.4 surcharge, while the lowest in the market is 1.3 by ANZ.
No monthly fee, and they provide some discounted MYOB and lawpath service as well.
Done, existing customer, no ABN, no errors. Ty, awaiting the $100.
How did you submit without ABN?
Select No, then type the industry.
Soon all these accounts would be disabled, like that heritage bank deal. Their system thought it was a malicious activity lol
no errors for me
just made the account and deposited a 100
2 accounts popped up
One with westpac business cash reserve and the other is Westpac business one
I opened the website on the desktop and I got to the page of that business cash reserve one and that seemed optional so i believe i skipped it
It was a bit confusing, you must have ticked a box where it said ‘I’m happy with these details etc’, that’s where you would have signed up. I left it unticked and just continued.
Same I got two accounts. Which account did you send your $100 to, the business one or the cash reserve?
Opened one last year with $50 bonus thinking it'd work for shopback deals but didn't. Now I can't get $100 bonus 😭
Aaand it's gone!
seems fun…
Opened the account in 5 mins
Got my wife to send me $100 with the description
Waiting for those $100 to show up and then another $100 🫡🫡🫡
Doesn't the description have to say WELCOME100 to get the $100 bonus
error "Sorry, we are experiencing technical difficulties." tried in igcognito too, no luck. will try later.
Just checked email and I received a welcome email.
Worked for me (existing customer). Received the ‘technical difficulties’ error but just clicked refresh once or twice. Received another error but for a second saw a confirmation screen, and also received text and email. Transfer already completed, now awaiting bonus.
At the moment, you can only apply online for a Westpac Business One account if you are a sole trader, sole director or already an existing Westpac business customer (association, company, partnership, SMSF, trust, or not-for-profit).
Nice, no issues experienced in setting up account. Never had a Westpac account.
Download the Westpac app rather than using the link at the end of your application which gave me an Access Denied error.
Current customer here.
Set up an account in seconds on the App, but had earlier tried to set up an account via desktop Internet Banking which ran into ID document verification hurdle.
Now in my app I have a Business One account (set up via the App) , and the previous application "in progress" for the Business One account via internet banking.
Weird situation. Hopefully it's all okay. I have deposited the 100 dollars with Welcome 100 to the account that was open via app.
Curious.
The duplicate Business One account application that was "in progress" has disappeared from my app.
The only business account that is in my app is just the Business One account that I applied via the app.
I think it's all good now. Must have just been some delay or slowness in updating account information in the back-end of the Westpac servers/IT infrastructure.
easy money
Sharing my experience as a new customer. Was smooth opening the account, ID verification seemed to accept digital licence and Medicare number. However during ID verification step I went to do some chores then when I came back session expired so I logged in and continued verification process, the process page was different and required taking photo of a physical licence card and taking a selfie (during which I was forced to make a "big smile" which I wasn't in the mood to… ) and after all that they couldn't verify I was the same person as the photo so I now have to make a trip to the bank to verify ID.
TLDR - Don't delay the ID verification when you sign up or you may have trouble with online verification.
Done. Thank you OP. Existing customer, did it via Apps.
Does this account automatically come with a Business Debit Mastercard? If so, when can we expect to receive it?
There was technical issues when I tried to open via the app :(
Jokes. When I refreshed my Westpac app, the business account was there!
SORRY, WE’RE HAVING TECHNICAL ISSUES
This is what I got after I put my name, mobile number and address in.
Same here
Signed up via phone, took about 10min with the ID verification business. Can't wait for that $100, also having a fee free westpac account is always handy. Thanks OP,
Can i Select Business Cash Reserve Savings ?
Anyone having issue at the id verification step? Doesn’t seem to accept however the photo I took for my drivers license
Same here, let me know if you get it fixed
Tempted, thanks for posting OP!
can withdraw the fund straight back out?
Do deposits transfer instantly to these accounts? Made the transfer with 2 different banks but nothing appears.
Need an ABN or anything, open it up get the $100 then close?