Business transaction and service fees - Business Banking - Effective: 22 September 2021 - Westpac
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Business transaction and service fees Business Banking. Effective: 22 September 2021
Getting the best from our Service fees.
Phone banking
products and services. Phone banking Free
Text banking and email alerts
As we offer a wide range of accounts and services, you may Text alerts* Free
have questions as to which are the best for your business. So,
to help you to get the most out of your business we offer a Email alerts Free
complimentary Business Banking Review. * Your mobile service provider’s normal text charges apply when you send a
text to Westpac. Please contact your mobile service provider for details of
Quite simply, it’s a free check-up designed to help you identify their fees and charges.
any areas where there could be quicker, easier or cheaper ways
of carrying out your business banking. Whether it’s the way you Searches for information
manage your cashflow, structure your lending – or do just about
Copy of statement $5
anything else with money in your business – we’ll work with you
to suggest new or better ways of doing things. It’s quick and
Credit & Debit card service fees.
there’s no obligation.
Individual account fee
Want to know more? Business Mastercard $50 per card per year
To arrange a complimentary Business Banking Review or $100 ($50 charged every
for further information about our products and services BusinessPLUS Mastercard®* 6 months in advance)
for businesses, please call us on 0800 177 100, talk to your Debit Mastercard ®
$10 annually#
relationship manager or visit your local branch.
AirpointsTM Business Mastercard®* $145 ($72.50 charged
every 6 months in advance)
Westpac PayTag™ $4.99 fee per issue**
*You will be personally responsible for all credit extended by Westpac under a
BusinessPLUS Mastercard and Airpoints Business Mastercard, irrespective of
whether a business name appears on the card. **Westpac PayTag, charged per
issue for new, replacement and renewed Westpac PayTags..Credit & Debit Card service fees. Deposit service fees.
Card service fees Cash handling
Cash handling will be charged when the amount of cash
Using your credit card for cash advances NZ$2*** deposited to or withdrawn from an account in any charge month*
overseas (Branch or ATM) is $75,000 or more at the following rates (the fee applies
(Selected Global Alliance ATMs may not to the full amount deposited or withdrawn).
charge this fee)*.
Teller counter 0.35% of the
Using your credit card for a cash Free via ATM cash amount
advance in New Zealand
Deposit box or Smart ATM 0.25% of the
Using your debit card for balance NZ 60c cash amount
enquiry/declined transactions overseas
Using your debit card for cash NZ$3** Clearance
withdrawals overseas (Branch or ATM) Debit deposit clearance fee 35c per debit item
(Selected Global Alliance ATMs may not deposited
charge this fee)
Non-Westpac customers
Foreign currency fee - business 2.5% of transaction These services are available on a limited exceptions basis only.
credit card amount** Cash change order $100 and over and/or cash deposit for other bank customers.
Foreign currency fee - debit card 1.95% of transaction Teller counter or deposit box $15 per time plus
amount** usual clearance and
Replacement card $10 plus courier costs cash handling fee
where applicable*** Note: Additional costs may apply for special requests such as large coin or
cash deposits and withdrawals. *A charge month starts on the last business
Late payment $8*** day of the calendar month and finishes on the second to last business day
of the following month.
Card over limit $1***
International service fees.
Additional/joint card $25 ($12.50 charged
(BusinessPLUS/Airpoints Business Mastercard) every 6 months International service fees
in advance) Change foreign cash $5 per transaction
*Some overseas banks may charge extra. **Also charged when accessing your into NZD if the total of the transaction is >$NZ50
transaction, savings or revolving credit account with your Westpac credit or debit
card from overseas. ***The above fee still applies to Business Mastercard. Change NZD into 1% of value (min. $10)
Business Prepaid Mastercard fees. foreign cash
Telegraphic Transfer (TT)
Account holder fees
TT sent by you $30 per staff-assisted transfer – to
Card production fee $8 per card another bank*
Ongoing card fee (applicable to $10 per transfer via Westpac One** or
$4 per card Business Online Banking
Multiload and MultiloadPLUS only)
$20 per transfer via any other online
Postage and handling $10 per order banking channel
$1,000+GST per design $15 per staff-assisted transfer – to another
Customised card design Westpac Foreign Currency Account
(card production fees still apply)
Light branding card design $150+GST per design TT received by you $15 per transfer - to a Westpac customer
$25 per transfer - to a non-Westpac
Cardholder fees customer
$50 per transfer - to a non-Westpac
Cash withdrawal fee customer when sent in a foreign currency
domestic/overseas ATM* $3 per withdrawal
(applicable to MultiloadPLUS only) Foreign currency accounts
ATM Balance enquiry fee $1.50 per enquiry Cash deposits 2% of value (min. $35)
Foreign currency conversion fee 3.5% of converted amount Maintenance charge On-call accounts – Free
Dispute fee $15 per enquiry Note: All international service fees are expressed in NZD$.
* Further charges may be applied by the receiving bank.
Voucher copy fee $15 per enquiry
**Payments to Cook Islands, Tonga, Samoa, American Samoa, Vanuatu,
For further information please complete the Westpac Business Prepaid registration Kiribati, New Caledonia, French Polynesia, Papua New Guinea, Solomon
of interest form available via the 'Apply now' button at westpac.co.nz/ Islands, Tuvalu and Fiji have no transfer fees via Westpac One. Overseas
businessprepaid or talk to your relationship manager. bank charges will still apply.
*Transaction fees do not apply when using ATMs within the Global ATM Alliance.
Global ATM Alliance member banks are subject to change. All other international and
standard fees apply, including foreign currency conversion fees.Lending service fees. Online service fees.
Personal borrowing Business Online service fees
Establishment fee – personal loans $100 per loan Monthly subscription $9.95 per month
Establishment fee – $140 per application* Automatic payments Free
Choices Home Loan
Bulk payments and transfers 19c per item
Establishment fee - Choices Home $350 per application*
Loan (construction loan with Bulk direct debits 19c per item
multiple drawdowns)
Documentation fee – $50 per application Deskbank
re-documentation, variation and Monthly operating fee $25 (incl. up to 1,000 lines of account
top-up of Choices Home Loan information, 2c per line thereafter)
Temporary loan limit increase – $25 on approval
for Choices Everyday Loan Transaction charge 19c per item
Note: Other electronic transaction fees may apply for your business account.
Rate lock break fee for $30 per break
Choices Home Loan
* A higher fee may apply if the application is accepted but does not meet the
Overdraft service fees.
standard lending criteria.
Overdraft service fees on business transaction accounts
Business borrowing (including Trusts) Charged on last business day of the month, calculated on your credit limit
or the highest point of your overdraft for the month (whichever is greater).
Establishment of new loans, from $400 per loan/
overdrafts (including temporary facility Line of Credit Charge (LCC) applies
limits), guarantees and bond
facilities, re-documented loans, With arranged limit up to $5,000 $5 per month
loan variations, revolving accounts With arranged limit $5,000 or more 0.1% per month
Establishment of new from $1,000 per facility
Unarranged Overdraft fee applies
FlexEquip facility
Without arranged limit $9 per month
and overdrawn
Other service fees
Note: Details of overdraft service fees on personal transaction accounts are
Administration fee for $20 per payment set out in the Personal Transaction and Service Fee brochure, a copy of which is
processing a prepayment to a available in any Westpac branch or online at westpac.co.nz
fixed rate loan# (Choices Home
Loan and business borrowing
Revolving accounts
including partial or full payment Business Revolve and Agriline – Line Charge applies.
to a fixed loan, moving from one Details of line charges may be obtained by contacting your
fixed term to another or from fixed relationship manager.
to floating)
Title search fees (inclusive of $15 per item
third party search fees)
Security discharge fee* $50 per discharge request
(includes discharge of securities,
release of guarantees/life policies,
priorities, variation memorandums
that alter security arrangements
through acting solicitor and
collection of life policies under
assignment)
*Additional disbursements, charges may apply in some circumstances (eg. where
complexity and/or negotiation of non standard documentation is required) or
where no solicitor is involved. A quote is available on request. #A prepayment cost
may also apply as described in the loan agreement.Payment service fees. Payment Automatic payment failed fee and Free direct debit dishonour fee Set up and amend Includes automatic payments and direct debits. Branch/Phone – set up and amend $5 Business Online – set up and amend Free automatic payments One-off payment/transfer Staff assisted $15 Direct Debit authorities for Westpac Unit Trusts and Retirement Plans are free to set up. Savings/call accounts (including Active) Unarranged overdrawn fee applies if overdrawn. Arranged overdraft not available. Overdrawn savings account $9 per month Note: Debit interest charges also apply.
Westpac business account
transaction fees. Use these tables to compare the fees on all our accounts.
Transaction and revolving credit accounts
Westpac Business Transact Westpac Westpac Westpac
Agriline Business Business
Pay as you go Monthly Fee Plan5 Interest Revolve
Maintenance fees Tier 1 Tier 2 No charge
Monthly account
maintenance fee $6 $10 $20 $4 $10
Account benefits No fees on No fees on No fees on Up to 4 Reward Rebate3 Up to 20
(Transactions not charged for Westpac ATM Westpac ATM Westpac ATM transactions a if your average transactions a
or included as part of monthly withdrawals or withdrawals or withdrawals or month, then pay monthly balance is: month, then pay
account maintenance fee) EFTPOS debit EFTPOS debit EFTPOS debit as you go2 $1–$4,999.99 Nil as you go2
Relationship rewarding transactions. The transactions. Up transactions. Up $5,000+ $4
(Reward rebates) 15 most expensive to 40 transactions to 80 transactions
transactions each a month, then pay a month, then pay
month are waived. as you go2. as you go2.
Credit Interest4 – – Yes –
Electronic transaction No fees are charged on Westpac ATM withdrawals or EFTPOS $1 30c per 30c per
fees debit transactions. All other Electronic Transaction Fees 19c. Note that electronic transaction transaction
Electronic transactions2 outward payment
EFTPOS, ATM and withdrawal
channels (EFTPOS,
withdrawals/transfers, automatic
online banking, phone payments, direct
banking transfers, credits/debits, bill
automatic payments, payments, ATM)
direct credits/debits, are not available.
bill payments The Agriline account
allows phone/online
banking transfers
between the
customer's accounts
only and is to be used
in conjunction with
a Business Transact
Account.
Manual 70c per transaction Manual transactions 75c per 75c per
transaction fees not available. transaction transaction
Manual transactions2
For example, ATM
deposits, staff
assisted deposits and
withdrawals at the
branch (including branch
deposit boxes).
Note: Excludes Smart
ATM deposits.Savings accounts1 Other
Business Online Saver Non-profit organisation accounts and
Solicitor Nominated Trust accounts#
Maintenance fees No charge No charge
Monthly account maintenance fee
Account benefits All electronic deposits and withdrawals2,6 All deposits and withdrawals2
(Transactions not charged for or included as part of
monthly account maintenance fee)
Credit Interest4 Yes Yes
Electronic transaction fees No charge for online banking, transfers and No charge
Electronic transactions2 ATM5 balance enquiries.
EFTPOS, ATM withdrawals/transfers, online
banking, phone banking transfers, automatic
payments, direct credits/debits, bill payments
Manual transaction fees Manual transactions over the counter No charge
Manual transactions2 not available
ATM deposits, staff assisted deposits and
withdrawals at the branch (including branch
deposit boxes)
Note: excludes Smart ATM deposits.Common service fees you should know about.
Clearance fee: charged for each debit
35c per item
item deposited
Teller counter 0.35% of the
cash amount
Deposit box or Smart ATM 0.25% of the
cash amount
Notes.
1 No overdraft is available on these accounts. If overdrawn a fee may
apply. Please refer to other side of brochure for details.
2 Additional service fees may apply, for a full list of service fees please
refer to this brochure.
3 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.
4 Credit interest rates can change from time to time. For current interest
rates please enquire at a Westpac branch.
5 There are additional tiers available for customers with higher volumes
of transactions.
6 If fees apply to the account which money is being transferred to or from,
standard fees will apply.
# Non-profit organisation (some conditions apply) and Solicitor
Nominated Trust accounts are exempt from Cash Handling and
Clearance fees.72272WP-49 08-21
Prices are current as at 22 September 2021 and are subject to change at Westpac’s discretion. You can
get a copy of the current disclosure statement for Westpac New Zealand Limited and a copy of the full
terms and conditions for any of the products or services mentioned, from any Westpac branch in New
Zealand, free of charge. For more details visit westpac.co.nz.
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