---
title: "Project Trust Account — Westpac"
description: "Regulated Trust Accounts from Westpac. Rates, fees, features and eligibility as published under Australia's Consumer Data Right."
canonical: https://www.cdrcompare.au/brands/westpac/products/ProjectTrustAccount
source: "CDR Compare"
language: en-AU
last_updated: 2026-06-24T05:13:09Z
---

# Project Trust Account — Westpac

> Regulated Trust Accounts from Westpac. Rates, fees, features and eligibility as published by the provider under Australia's Consumer Data Right, compared on CDR Compare.

**Regulated Trust Accounts**

Project Trust Accounts are designed for construction projects in Queensland, to help you comply with your banking requirements under the Building Industry Fairness (Security of Payment) Act 2017. An account must be opened for each project trust to receive payments made under the construction contract, and to pay contractors.

## Fees

| Fee | Type | Amount |
| --- | --- | --- |
| Account Keeping Fee — Charged monthly | Ongoing | $0.00 |
| Staff-Assisted Withdrawal | Withdrawal | $3.00 |
| Staff-Assisted Deposit | Deposit | $3.00 |
| Self-Service (Electronic) Withdrawals | Withdrawal | $0.00 |
| Self-Service (Electronic) Deposits | Deposit | $0.00 |
| Periodical Payments | Transaction | $0.00 |
| Group Telephone Banking | Transaction | $0.00 |
| Online Banking — Account enquiries are always free when you use Online Banking. | Transaction | $0.00 |

## Features

- **Digital banking** (With PayTo, you can see, review and authorise all new PayTo payments for things such as recurring bills, memberships and subscriptions before the money leaves your account.)
- **Digital banking**
- **Fraud protection** (The product includes fraud protection features.)
- **Relationship management** (Relationship management is available for eligible customers.)
- **Limits to account access (e.g., no cash transactions, and no access to debit cards, cheques and deposit books)**
- **Withdrawals from accounts can only be used as payments to beneficiaries, as required by law**
- **Gives your contractors confidence that funds are available**
- **Allows you to make electronic payments quickly and easily**
- **Provides a clear view of contractor finances**
- **Assists you to comply with the Building Industry Fairness (Security of Payment) Act 2017 when holding funds for contractors**

## Eligibility

- **Minimum age** — 18 years (18+ years old (applicant plus all signatories))
- **Party to a building or construction contract that?s eligible under the  Building Industry Fairness (Security of Payment) Act 2017**
- **Operating in Australia with an Australian address**
- **Hold a separate designated business account with the same issuer from which fees and charges can be debited.**

## More information from Westpac

- [Overview](https://www.westpac.com.au/business-banking/bank-accounts/project-trust-account-and-retention-trust-account/)
- [Terms & conditions](https://www.westpac.com.au/content/dam/public/wbc/documents/pdf/bb/deposit-accts-bus-customers-tandc.pdf)
- [Eligibility](https://www.westpac.com.au/business-banking/bank-accounts/project-trust-account-and-retention-trust-account/)
- [Fees & pricing](https://www.westpac.com.au/content/dam/public/wbc/documents/pdf/bb/deposit-accts-bus-customers-tandc.pdf)

## Data provenance

- Published by Westpac under the Consumer Data Right
- Product ID: `ProjectTrustAccount`
- Last updated by the provider: 24 June 2026
- Source payload (JSON): https://www.cdrcompare.au/api/raw/westpac/ProjectTrustAccount
- Provider page: https://www.cdrcompare.au/brands/westpac
- CDR register entry: https://www.cdr.gov.au/find-a-provider?provider=000002

---

Source: [CDR Compare](https://www.cdrcompare.au/brands/westpac/products/ProjectTrustAccount) — product data published by Australian data holders under the Consumer Data Right. Not financial advice; no rankings, recommendations or affiliate relationships. Always confirm details with the provider.

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