Business services
For more information
call (675) 322 0888
Westpac offers a full range of business banking products, including:
- Term deposits
- Cheque account
- Term loans
- Overseas transfers
- Insurance premium funding
- Leasing
- Payroll services
- Trade finance
Term deposits
Our term deposits are a secure investment. They use a fixed rate of interest, for a fixed term, payable on a fixed amount. You know that your money is safe and you don't have to worry about fluctuations in your investment, as in the share market.
Cheque account
To help you manage your cashflow and make payments to suppliers, open a business cheque account.
Term loans
Looking to grow or start a new business? Our term loans offer competitive rates of interest, and you are assured good value as fees are only charged for the services you use.
Overseas transfers
Send money to your international suppliers or directly to an overseas financial institution, for business. Simply print the following form and take it to your local branch.
Overseas transfer form (PDF 32kb)
Insurance premium funding
This enables you to borrow funds to meet your annual insurance premiums without tying up your working capital.
Leasing
A finance lease allows businesses to finance the purchase of equipment and motor vehicles for business purposes without tying up large amounts of capital. Repayments can be structured to suit your business cashflow requirements.
Please check at your local branch if this service is available locally.
Payroll services
An easy and secure way to pay your staff from your business account. The QuickPay and/or HandyPay products let you directly credit your employees' bank accounts, whether it's held at Westpac or another bank.
Check with your local branch to verify which of these services are available locally.
Trade finance
Foreign currency overdraft - if you are an importer or exporter you can maintain an overdraft in most major currencies at competitive rates of interest. This is useful when you are unsure of the timing of your trade transactions.
If you are an importer, an overdraft is useful to pay your supplier over the short term, or when exchange rates are unfavourable.
If you are an exporter, the overdraft is useful for financing smaller receivables over shorter terms, if you require an account to receive funds from buyers or for protection against unfavourable exchange rates.
Note: For new customers additional authorities may need to be obtained.
Please check at your local branch if this service is available locally. If so, print the following form and send it to any Westpac branch.
Foreign currency overdraft form (PDF 22kb)
Irrevocable documentary credit - we can pay your supplier on your behalf, to help you meet your financial commitments. Firstly, we receive the documents from your supplier and check to ensure they comply with the terms and conditions of the credit. The documents will then be released to you for collection of goods.
Print the following application form and send it to your head office.
Irrevocable documentary credit form (PDF 38kb)
If you require an amendment to your documentary credit, print the following form and send it to your local branch.
Amendment to documentary credit form (PDF 21kb)
Export lodgement - to access export documentation for your trade transactions visit your local branch.
PGK - Papua New Guinea Kina
