Community Solutions Cash Reserve
An online savings account specially designed for NFP organisations and community groups, earning competitive interest while your money is still accessible.
Boost your savings with a variable interest rate of up to 2.75% p.a. depending on balance
- $0 monthly service fee (other fees and charges apply)
- View your savings balance or transfer funds 24/7 with Business Online Banking, mobile, tablet or Business Telephone Banking access
- No minimum balance needed - so you earn interest from the first dollar
- Opt for eStatements instead of paper and access up to 7 years of transactions online.
How it works
To operate your high interest Cash Reserve account for NFPs, you need to have a Westpac business transaction account in the same name. This lets you move your money between these accounts as often as you like, for free when using Business Online Banking or automated Business Telephone Banking.
Things you should know
To take advantage of the multiple ways to access your account, you need to Register for Business Online Banking and Business Telephone Banking.
|Monthly service fee||$0|
|Number of free transactions per month||Unlimited transfers between other Westpac Business accounts held by customer in the same name(s) as the Community Solutions Cash Reserve account, using Business Online Banking or automated Business Telephone Banking only|
|Self-service (electronic) withdrawals - transfers between other Westpac business accounts by Business Online Banking or automated Business Telephone Banking||$0|
|Self-service (electronic) deposits||$0|
|Cheques collected or deposited (Additional charge for the branch transaction applies)||$0|
|Staff assisted withdrawal (not usually available)||$5|
|Staff assisted deposit (including cheques)||$0|
|Narrated credits (not usually available)||$2.50|
|Business Telephone Banking - self service enquiries||$0|
|Business Online Banking||$0|
Includes balance enquiries and obtaining deposit or withdrawal details.
Other bank charges may apply. See Terms and Conditions.
Things you should know
Branch transactions using a serial number encoded deposit slip enabling you to identify the deposit from the serial number used.
Overseas ATM cash withdrawal surcharges.
Interest is calculated daily and paid monthly. Rates are current as at 13 May 2013 and are subject to change at any time. They are tiered according to balance.
|Amount||Variable base rates p.a.|
|$0 - $9,999||2.50%|
|$10,000 - $19,999||2.75%|
|$20,000 - $49,999||2.75%|
|$50,000 - $99,999||2.75%|
|$100,000 - $249,999||2.75%|
|$250,000 - $499,999||2.75%|