Westpac Declined Your Business Overdraft? Here's the Alternative

Why Westpac declines business overdrafts

Westpac requires full financial documentation for most business overdrafts: annual financial statements, 12 months of BAS from the ATO, clear credit records for all directors, and often property security. Their unsecured option goes up to $250K but has strict eligibility criteria.

Common decline reasons

Financial statements not available or not current
BAS not lodged or not up to date
Directors with credit issues
Insufficient property security for the requested amount
Business trading under Westpac's minimum history requirement

Westpac wants tax returns and BAS. Non-bank lenders want bank statements. If your business has strong cash flow but messy paperwork, non-bank is the answer.

The non-bank alternative

Through OverdraftMe: 6 months of bank statements, ABN, driver's licence. That's it. No tax returns, no BAS, no property security under $150K. Decisions from 1 hour, same-day funding available.

Read our full bank decline guide | See our case studies

Need working capital for your business?

2 minutes. No credit impact. No commitment.

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