Westpac Banking Corporation

Bank accounts

Westpac Reward Saver

Essentials

  • A savings account for serious savers
  • Get bonus interest each month you make no withdrawals, and deposit at least $50 by the last business day of the month.
  • Offers access to funds when you need via branch, Telephone Banking, Online and ATMs1
  • 5-star independent rated Cannex product representing “outstanding value”
  • No monthly service fee.
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Apply for Westpac Reward Saver now

Did you know?

Westpac Reward Saver pays you bonus interest while you save, but still lets you withdraw money, when you need it. 1



Westpac Calendar

Saving for a goal

Related documents

Deposit Accounts for Personal and Self Managed Superannuation Fund Customers - Terms and Conditions (PDF 585kb)

Things you should know

  • Conditions and fees may apply

  • 1. Subject to systems availability

  • 2.  Nil for cash withdrawals from participating Global ATM Alliance partners in designated countries. For more information, read Accessing your accounts overseas.

  • 3. 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). 
  • For all accounts, balances in your account on and after the last business day of the month, including deposits made to your account on or after the last business day of the month, will not be included in the interest calculation for that month, but in the interest calculation for the following month.
  • Adobe Acrobat Reader
    To view PDF files you need Adobe Acrobat Reader. Use Adobe's online PDF conversion tools to convert to another format.
  • BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.
  • MasterCard® and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.

Features

Get bonus interest of 4.50% p.a. (variable) each month you make no withdrawals, and deposit at least $50 before the last business day of the month. This means, you could earn up to 5.50% p.a. variable.

  • Paperless eStatements available, which not only helps the environment but provides access to up to 7 years of account activity. You’re simply sent an email each month, and you sign in to Online Banking to view your statement.
  • CANNEX is an independent benchmarking agency that compares savings accounts based on rates and features. Their highest rating – 5 star – represents “outstanding value”, which means your 5-star Westpac Reward Saver is in their words, “a guaranteed high-performance product”.
  • Start a regular savings plan by setting up a periodical payment to reach your savings goal sooner 
  • No monthly service fee applies.
Related documents

Deposit Accounts for Personal and Self Managed Superannuation Fund Customers - Terms and Conditions (PDF 585kb)

Things you should know

  • Conditions and fees may apply

  • 1. Subject to systems availability

  • 2.  Nil for cash withdrawals from participating Global ATM Alliance partners in designated countries. For more information, read Accessing your accounts overseas.

  • 3. 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). 
  • For all accounts, balances in your account on and after the last business day of the month, including deposits made to your account on or after the last business day of the month, will not be included in the interest calculation for that month, but in the interest calculation for the following month.
  • Adobe Acrobat Reader
    To view PDF files you need Adobe Acrobat Reader. Use Adobe's online PDF conversion tools to convert to another format.
  • BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.
  • MasterCard® and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.

Fees

Standard fees
Fee Amount
Monthly service fee NIL

Online Banking withdrawal

$2.50
Telephone Banking withdrawal (automated) $2.50
Telephone Banking withdrawal (staff assisted) $2.50
EFTPOS $2.50
Westpac/St.George/BankSA branded ATMs withdrawal $2.50
Cheques written N/A
Direct debit $2.50
Branch staff assisted withdrawal $2.50
Non-Westpac/St.George/BankSA branded ATMs within Australia (cash withdrawal or balance enquiry) NIL
Overseas ATM cash withdrawal 2  $5.00 
Overseas ATM balance enquiry  NIL 
Westpac Foreign Transaction Fee 

Refer to footnote 3

Dishonour of cheques written or direct debits  $9 
Periodical payment not made fee  $9 
Account overdrawn fee  $9 


Please note: These fees relate to Westpac Reward Saver only and do not apply to the Westpac Kids and Youth Reward Saver 

Related documents

Deposit Accounts for Personal and Self Managed Superannuation Fund Customers - Terms and Conditions (PDF 585kb)

Things you should know

  • Conditions and fees may apply

  • 1. Subject to systems availability

  • 2.  Nil for cash withdrawals from participating Global ATM Alliance partners in designated countries. For more information, read Accessing your accounts overseas.

  • 3. 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). 
  • For all accounts, balances in your account on and after the last business day of the month, including deposits made to your account on or after the last business day of the month, will not be included in the interest calculation for that month, but in the interest calculation for the following month.
  • Adobe Acrobat Reader
    To view PDF files you need Adobe Acrobat Reader. Use Adobe's online PDF conversion tools to convert to another format.
  • BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.
  • MasterCard® and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.

Rates

Westpac Reward Saver interest rates
Amount Rate p.a.
Standard base variable interest rate 1.00%
Standard variable bonus 4.50% deposit $50 and make no withdrawals
Earn up to 5.50%

View Westpac Reward Saver essentials.

Related documents

Deposit Accounts for Personal and Self Managed Superannuation Fund Customers - Terms and Conditions (PDF 585kb)

Things you should know

  • Conditions and fees may apply

  • 1. Subject to systems availability

  • 2.  Nil for cash withdrawals from participating Global ATM Alliance partners in designated countries. For more information, read Accessing your accounts overseas.

  • 3. 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). 
  • For all accounts, balances in your account on and after the last business day of the month, including deposits made to your account on or after the last business day of the month, will not be included in the interest calculation for that month, but in the interest calculation for the following month.
  • Adobe Acrobat Reader
    To view PDF files you need Adobe Acrobat Reader. Use Adobe's online PDF conversion tools to convert to another format.
  • BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.
  • MasterCard® and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.

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