Card launches new era for businesses

IN AN AUSTRALIAN first, Westpac Dandenong has launched a business debit mastercard that allows businesses to transact straight from their business accounts.
Andrew James, head of Westpac’s business banking centre at Dandenong, said the new debit mastercard would help businesses better manage their cash flow by changing their banking behaviour.
He said customers can perform phone and online transactions on the same account they used to write cheques to.
“The Westpac business debit mastercard is linked to their business account so owners and managers can access a complete cash flow report each month,” he said.
He said the record keeping is clear and simple with one statement showing all account transactions.
The Westpac mastercard allows for up to 12 card holders per account.
“There is an annual fee of $30 for up to 12 cards, but this fee is waived in the first year,” he said.
Mr James said Westpac can link most business accounts to the card, including Westpac Business One, Westpac Business Flexi and the Westpac Community Solutions Account.
“We think the new card has the potential to change the way small businesses transact, especially by replacing cash and cheques,” he said.