Westpac Youth Reward Saver
Essentials
- Under 21s earn up to 5.70% p.a. interest paid monthly
- In addition to the standard variable base interest rate of 0.75% p.a., earn 1.55% p.a. fixed rate for 4 months on accounts opened between 9 March 2010 and 11 April 2010.
- Earn 3.40% p.a. variable bonus interest monthly when you make a deposit of any value and no withdrawals in the month 1
- Free withdrawals each month (when a withdrawal is made the standard bonus interest rate won't apply)
- Optional paperless eStatements
- Option to register for Westpac Online Banking and Telephone Banking
- Option to apply for a handycard, or if you are over the age of 18 a Debit MasterCard 2
- Youth package available.
How you can access your money
- Telephone Banking
- Online Banking
- Branch
Things you should know
- 1. Bonus interest is payable on the full balance when bonus interest criteria is met, that is a credit balance is maintained, a customer initiated deposit of any amount and no withdrawals are made in the calendar month (except bank account fees, government transaction taxes or withdrawal of funds to place in a Westpac Term Deposit). The above criteria also apply to 'As Trustee For' a child account.
- 2. A Debit MasterCard ® or Handycard comes free with your account. A Debit MasterCard ® will only be issued if the customer meets the eligibility criteria. Customers must be over 18 years of age and have an Australian residential address to be eligible for the card. If you're not eligible for a Debit MasterCard ® and you're over 12 years of age, you’ll be offered a Handycard to access your account.
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3. Fees and charges may be payable. Terms and Conditions apply. These may be varied, or new Terms and Conditions introduced in the future. See our comparison table for a list of current interest rates and fees.
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4 Non-Westpac/St.George/BankSA branded ATMs apply an ATM operator fee by the ATM Owner, which is disclosed at the time of the transaction on the ATM screen. This fee will be debited on the day (or the next business day) of the transaction and itemised separately on your statement.
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5. Nil for cash withdrawals from participating Global ATM Alliance partners in designated countries. For more information, read Accessing your accounts overseas.
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6. The Westpac Foreign Transaction Fee is payable and will be incorporated into the $AUD transaction amount shown on your statement. The fee charged will either be:
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a) 3% of the $AUD transaction amount where a transaction is made in foreign currency and the merchant or financial institution accepting the card is located outside of Australia (comprising of 2% Westpac Processing Fee plus 1% Westpac On-Charged Scheme Fee); or
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b) 2.2% of the $AUD transaction amount where a transaction is made in foreign currency and the merchant or financial institution accepting the card is located in Australia (comprising of 2% Westpac Processing Fee plus 0.2% Westpac On-Charged Scheme Fee).
- 7. If you open a Westpac Reward Saver account (includes Kids, Youth, Student and 'As Trustee For' a child) between 9 March and 11 April 2010 (Promotion Period), you will earn the standard base variable interest rate (currently 0.75% p.a.) plus a promotional rate of 1.55% p.a. interest fixed for 4 months.
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To view PDF files you need Adobe Acrobat Reader. Use Adobe's online PDF conversion tools to convert to another format. - BPAY ® Registered to BPAY Pty Ltd ABN 69 079 137 518.
- MasterCard ® and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.
Fees
| Fee | Amount |
|---|---|
| Monthly service fee | NIL |
| Online Banking withdrawal | NIL |
| Telephone Banking withdrawal (automated) | NIL |
| Telephone Banking withdrawal (staff assisted) | NIL |
| EFTPOS | NIL |
| Westpac/St.George/BankSA branded ATMs withdrawal | NIL |
| Cheques written | N/A |
| Direct debit | NIL |
| Branch staff assisted withdrawal | NIL |
| Fee | Amount |
|---|---|
| Non-Westpac/St.George/BankSA branded ATMs within Australia (cash withdrawal or balance enquiry) | NIL 4 |
| Overseas ATM cash withdrawal 5 | $5.00 |
| Overseas ATM balance enquiry | NIL |
| Westpac Foreign Transaction Fee |
Refer to footnote 6 |
| Dishonour of cheques written or direct debits | $9 |
| Periodical payment not made fee | $9 |
| Account overdrawn fee | $9 |
Things you should know
- 1. Bonus interest is payable on the full balance when bonus interest criteria is met, that is a credit balance is maintained, a customer initiated deposit of any amount and no withdrawals are made in the calendar month (except bank account fees, government transaction taxes or withdrawal of funds to place in a Westpac Term Deposit). The above criteria also apply to 'As Trustee For' a child account.
- 2. A Debit MasterCard ® or Handycard comes free with your account. A Debit MasterCard ® will only be issued if the customer meets the eligibility criteria. Customers must be over 18 years of age and have an Australian residential address to be eligible for the card. If you're not eligible for a Debit MasterCard ® and you're over 12 years of age, you’ll be offered a Handycard to access your account.
-
3. Fees and charges may be payable. Terms and Conditions apply. These may be varied, or new Terms and Conditions introduced in the future. See our comparison table for a list of current interest rates and fees.
-
4 Non-Westpac/St.George/BankSA branded ATMs apply an ATM operator fee by the ATM Owner, which is disclosed at the time of the transaction on the ATM screen. This fee will be debited on the day (or the next business day) of the transaction and itemised separately on your statement.
-
5. Nil for cash withdrawals from participating Global ATM Alliance partners in designated countries. For more information, read Accessing your accounts overseas.
-
6. The Westpac Foreign Transaction Fee is payable and will be incorporated into the $AUD transaction amount shown on your statement. The fee charged will either be:
-
a) 3% of the $AUD transaction amount where a transaction is made in foreign currency and the merchant or financial institution accepting the card is located outside of Australia (comprising of 2% Westpac Processing Fee plus 1% Westpac On-Charged Scheme Fee); or
-
b) 2.2% of the $AUD transaction amount where a transaction is made in foreign currency and the merchant or financial institution accepting the card is located in Australia (comprising of 2% Westpac Processing Fee plus 0.2% Westpac On-Charged Scheme Fee).
- 7. If you open a Westpac Reward Saver account (includes Kids, Youth, Student and 'As Trustee For' a child) between 9 March and 11 April 2010 (Promotion Period), you will earn the standard base variable interest rate (currently 0.75% p.a.) plus a promotional rate of 1.55% p.a. interest fixed for 4 months.
-
To view PDF files you need Adobe Acrobat Reader. Use Adobe's online PDF conversion tools to convert to another format. - BPAY ® Registered to BPAY Pty Ltd ABN 69 079 137 518.
- MasterCard ® and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.
Rates
| Amount | Rate p.a. |
|---|---|
| Standard base variable interest rate7 | 0.75% p.a. |
| Promotional fixed interest rate7 | 1.55% p.a. |
| Standard Bonus interest rate 1 | 3.40% p.a. |
| Earn up to3 | 5.70% p.a. |
View Westpac Youth Reward Saver essentials.
Things you should know
- 1. Bonus interest is payable on the full balance when bonus interest criteria is met, that is a credit balance is maintained, a customer initiated deposit of any amount and no withdrawals are made in the calendar month (except bank account fees, government transaction taxes or withdrawal of funds to place in a Westpac Term Deposit). The above criteria also apply to 'As Trustee For' a child account.
- 2. A Debit MasterCard ® or Handycard comes free with your account. A Debit MasterCard ® will only be issued if the customer meets the eligibility criteria. Customers must be over 18 years of age and have an Australian residential address to be eligible for the card. If you're not eligible for a Debit MasterCard ® and you're over 12 years of age, you’ll be offered a Handycard to access your account.
-
3. Fees and charges may be payable. Terms and Conditions apply. These may be varied, or new Terms and Conditions introduced in the future. See our comparison table for a list of current interest rates and fees.
-
4 Non-Westpac/St.George/BankSA branded ATMs apply an ATM operator fee by the ATM Owner, which is disclosed at the time of the transaction on the ATM screen. This fee will be debited on the day (or the next business day) of the transaction and itemised separately on your statement.
-
5. Nil for cash withdrawals from participating Global ATM Alliance partners in designated countries. For more information, read Accessing your accounts overseas.
-
6. The Westpac Foreign Transaction Fee is payable and will be incorporated into the $AUD transaction amount shown on your statement. The fee charged will either be:
-
a) 3% of the $AUD transaction amount where a transaction is made in foreign currency and the merchant or financial institution accepting the card is located outside of Australia (comprising of 2% Westpac Processing Fee plus 1% Westpac On-Charged Scheme Fee); or
-
b) 2.2% of the $AUD transaction amount where a transaction is made in foreign currency and the merchant or financial institution accepting the card is located in Australia (comprising of 2% Westpac Processing Fee plus 0.2% Westpac On-Charged Scheme Fee).
- 7. If you open a Westpac Reward Saver account (includes Kids, Youth, Student and 'As Trustee For' a child) between 9 March and 11 April 2010 (Promotion Period), you will earn the standard base variable interest rate (currently 0.75% p.a.) plus a promotional rate of 1.55% p.a. interest fixed for 4 months.
-
To view PDF files you need Adobe Acrobat Reader. Use Adobe's online PDF conversion tools to convert to another format. - BPAY ® Registered to BPAY Pty Ltd ABN 69 079 137 518.
- MasterCard ® and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.
Did you know?
Westpac Youth Reward Saver pays you bonus interest while you save, but still lets you withdraw money, when you need it. 1
