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Summary

Double check the details before opening your account

The important stuff

Westpac eSaver

Westpac eSaver lets you save with ease with introductory bonus interest, unlimited withdrawals and 24/7 access.
The important numbers
  • 4.65% p.a. total introductory interest rate for the first 5 months for new eSaver customers (1.10% p.a. standard variable base rate + 3.55% p.a. introductory fixed rate for 5 monthsº). Reverts to 1.10% p.a. standard variable rate after the first 5 months
  • Additional 0.35% p.a. online bonus rate for the first 5 months1

  • $0 Account-keeping fee

  • If you're under 14, a parent or guardian will need to open your account at a Westpac branch. You don't need to attend in person as long as your parent or guardian has a correct and original form of identification for you. 
What you get

  • No minimum deposit or monthly balance required

  • New Westpac eSaver customers earn an introductory fixed rate on top of the standard variable rate for the first 5 months. º
  • Unlimited access via a linked Westpac Choice account (if you don't have one, we'll open one for you) 2
+

Westpac Choice

An everyday account to make deposits and withdrawals with access via a debit card
The important numbers
  • $5 Account-keeping fee, unless you're under 30, a fulltime tertiary student, new to Australia (for the first 12 months), or deposit at least $2,000 each month. Fee also waived for all accounts opened online between 01/02/2024- 30/09/24 (for the first 12months)#

  • If you're under 14, a parent or guardian will need to open your account at a Westpac branch. You don't need to attend in person as long as your parent or guardian has a correct and original form of identification for you. 
What you get

  • Access to your money with a Debit Mastercard® and a range of digital wallets (including Apple Pay & Google Pay)³

  • Access to exclusive offers and discounts

  • 24/7 Fraud monitoring

  • Fraud Money Back Guarantee 4
Things you should know
º If you have not had a Westpac eSaver account before, an introductory fixed rate of 3.55% p.a. applies for the first 5 months, on top of the standard variable rate. After 5 months, the standard variable interest rate, currently 1.10% p.a. will apply. Existing or previous eSaver account holders are not eligible for this offer. Joint accounts are eligible where the primary account holder has not held an eSaver account before.
1 Only available for new eSaver accounts opened online by sole applicants who have never held an eSaver account before.
2 Westpac everyday account: To open a Westpac savings account, customers must hold a Westpac everyday account in the same name and be registered for Online and Phone Banking. Fees and charges may apply on the everyday account.
3 Debit Mastercard®: holders need to be at least 8 years of age and have an Australian residential address to be eligible for the card. 
4 Westpac Fraud Money Back Guarantee: Customers will be reimbursed for any unauthorised transactions provided that the customer has not contributed to the loss and contacted Westpac promptly.

# Open a new Westpac Choice account online between 01/02/24 and 30/09/24 to have the monthly Account Keeping fee waived for the first 12 months. At the end of the 12-month period, the monthly Account Keeping fee (currently $5) will apply unless the minimum monthly deposit criteria are met. Individual(s) under the age of 29, New Arrivals, and students are ineligible for this Offer. This offer is not applicable to the Westpac Choice Concession account. For joint accounts, individuals must meet the eligibility criteria for the fee waiver to apply. Other fees and charges, terms and conditions apply to the Westpac Choice account. This offer may be repeated from time to time, withdrawn, varied, or extended at any time.