DIY Super Solution

Self Managed Super Fund. 3 accounts working together. Transact, save and trade.
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Essentials

DIY Super Solution has three accounts working together.

Westpac DIY Super Working account

Westpac DIY Super Working account acts as the cash 'hub' to help you manage your investments and access your funds on a day-to-day basis

  • Earn tiered interest on your everyday working account balance
  • No monthly service fee (other fees apply)
  • Access funds including via Westpac Online and Telephone Banking, in branch and by cheque.
  • Option to set up direct debits to help manage your SMSF.

Westpac DIY Super Savings account

If you hold a Westpac DIY Super Working account, open and link a DIY Super Savings account for your surplus funds.

  • No monthly service fee (other fees apply)
  • Competitive interest rate, calculated daily and paid monthly
  • No minimum or maximum balance
  • Operate and access your savings via your linked Westpac DIY Super Working account

Westpac Online Investing account

  • Trade online from $19.95 or for 0.11% of the trade value (whichever is greater) when you settle to your Westpac DIY Super Working account
  • Buy and sell any ASX-listed security
  • Access to Australian and international shares, warrants, options, managed funds and more
  • Trade online, over the phone or via the mobile app
  • Receive research and analysis from Morningstar, Westpac, BT and more
  • Advanced charts and free live market data
  • No monthly service fee (other fees apply).

You have the option to add on extra products such as a Westpac Term Deposit, SMSF Investment Property Loan or Insurance.

 

Did you know?

You can earn interest on your surplus SMSF funds when you park them in a Westpac DIY Super Savings account.

Things you should know
  • More about Westpac DIY Super

  • This information does not take into account your personal objectives, financial situation or needs so you should consider its appropriateness having regard to these factors before acting on it.
  • The Westpac DIY Super Working and Westpac DIY Super Savings accounts are issued by Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.
  • If you close your Westpac DIY Super Working account, you will need to close your linked Westpac DIY Super Savings account and, if applicable, arrange an alternative trading account for your Westpac Online Investing account.
  •  

    More about Westpac Online Investing and Share trading

  • Share trading and online investing through Westpac Securities Limited ABN 39 087 924 221, AFSL 233723 ("Westpac Securities") is a service provided by Australian Investment Exchange Ltd ABN 71 076 515 930, AFSL 241400 ("the Participant"), a Participant of the ASX Group. The Participant is not authorised to carry on business in any jurisdiction other than Australia. Accordingly, the information contained in this website is directed to and available for Australian residents only. Australian Investment Exchange Ltd ABN 71 076 515 930, AFSL 241400 tries to ensure that the information provided is complete and correct but readers are advised to check any important item(s) with us before making any decisions.
  •  

    Resolving disputes

    If an SMSF member loses money due to theft or fraud unfortunately they do not have access to any special compensation schemes. They also do not have access to the Superannuation Complaints Tribunal to resolve disputes.

Features

Westpac DIY Super Working Account

You can transact on your Westpac DIY Super Working account in almost all the same ways you would any bank account:

  • Online Banking
  • Personal or Business Banking
  • BPAY®
  • Direct debit
  • Cheques
  • Transfers to and from your Westpac DIY Super Savings account
  • Transfers to Westpac Online Investing to purchase shares and other securities
  • In person at any of our branches.

There is no card facility available on your DIY Super Working account.

The big picture

Once you have your DIY Super Solution set up to meet the everyday finance needs of your SMSF, you may want to consider the other products and services Westpac offers that might support your investment strategy.

CashDIY Super Solution A suite of three products including a DIY Super Working Account, DIY Super Saving Account and Westpac Online Investing to help you manage your day-to-day SMSF investments.
Fixed incomeTerm DepositLock away SMSF funds at a guaranteed rate for a selected term of your choice.
 Coupon Select DepositA tailored term deposit that lets you choose the frequency of interest payments, the start date and whether to receive fixed or floating interest rates or potentially a combination of both.
CPI Plus DepositA tailored term deposit that pays a guaranteed fixed rate above the inflation rate, e.g. CPI + 3.5%.
Inflation Linked DepositA tailored term deposit that features an interest rate which is directly linked to inflation. The interest rate increases with inflation, which may help protect the real value of your interest income.
Residential Property InvestmentVariable Rate Investment Property Loan Fixed Rate Investment Property LoanFunds the purchase of an investment property through a limited recourse loan.
Commercial Property InvestmentBank Bill Business Loan / Business LoanFunds the purchase of a business or commercial property through a limited recourse loan, with the option of a fixed or variable interest rate.
EquitiesWestpac Online InvestingA quick and cost effective way to invest online in shares, options, warrants ETFs, managed funds, IPOs and more.
 BT Managed AccountsManaged Accounts can provide SMSF trustees with direct exposure to a professionally managed portfolio of Australian shares, listed property and managed funds. All administration and comprehensive tax reporting is performed by a team of experts.
Self Funding Instalment (SFI) WarrantsAn ASX listed investment that lets you borrow to invest in the share market within an SMSF without margin calls.
Protected Equity LoanBorrow to invest in selected ASX-listed securities over the medium term, with capital protection at maturity of up to 100% and no margin calls.
InsuranceBT Protection PlansAccess to cover including Term Life Cover, Total and Permanent Disablement Cover and Income Protection Insurance via your SMSF.
WrapBT Portfolio WrapA single point of access to a range of investment options such as managed funds, term deposits, ASX listed securities and insurance.
Financial AdviceWestpac Financial PlannersWestpac has qualified Financial Planners trained and accredited to advise on Self-Managed Superannuation Funds.
EducationDavidson InstituteWestpac's Davidson Institute provides financial and business education courses, seminars and online learning for SMSF trustees, designed to improve your SMSF knowhow.
Fund AdministrationWestpac AlliancesWestpac has informed alliances with professional, specialist administration firms that can assist you with the running and compliance obligations of your SMSF.

There may be other super options you would like to consider. We have a range of products that could help you structure your super investments to perform at their best.

More details

  • Term Deposits - the certainty of a fixed investment rate for a fixed term
  • Super Fund Investment Property Loans - you may be able to use your SMSF to help you purchase a residential investment property. Conditions apply.
  • Insurances - from death benefits to income protection, we're sure to have an option that's right for you.
Things you should know
  • This information does not take into account your personal objectives, financial situation or needs so you should consider its appropriateness having regard to these factors before acting on it. You should also consider the disclosure documents and terms and conditions relating to each of these products before making any decision to invest, as well as Westpac's Financial Services Guide.

    More about Westpac DIY Super
    This information does not take into account your personal objectives, financial situation or needs so you should consider its appropriateness having regard to these factors before acting on it.

    The Westpac DIY Super Working and Westpac DIY Super Savings accounts are issued by Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.

    If you close your Westpac DIY Super Working account, you will need to close your linked Westpac DIY Super Savings account and, if applicable, arrange an alternative trading account for your Westpac Online Investing account.
     
    More about Westpac Online Investing
    Share trading and online investing through Westpac Securities Limited ABN 39 087 924 221, AFSL 233723 ("Westpac Securities") is a service provided by Australian Investment Exchange Ltd ABN 71 076 515 930, AFSL 241400 ("the Participant"), a Participant of the ASX Group. The Participant is not authorised to carry on business in any jurisdiction other than Australia. Accordingly, the information contained in this website is directed to and available for Australian residents only. Australian Investment Exchange Ltd ABN 71 076 515 930, AFSL 241400 tries to ensure that the information provided is complete and correct but readers are advised to check any important item(s) with us before making any decisions.

    More about BT Protection Plans
    The Insurer of BT Protection Plans is Westpac Life Insurance Services Limited. All BT Protection Plans, except for Term Life as Superannuation and policies paid via SuperWrap, are issued by the Insurer. For Term Life as Superannuation, which is part of the Superannuation Division of Westpac MasterTrust, the issuer and trustee is Westpac Securities Administration Limited (WSAL). For policies paid via SuperWrap, which is part of Retirement Wrap, the issuer and trustee is BT Funds Management Limited (BTFM). The administrator of all policies paid via SuperWrap and Wrap and the arranger of policies paid via Wrap is BT Portfolio Services Ltd (BTPS). The Insurer, WSAL, BTFM and BTPS are wholly owned subsidiaries of Westpac Banking Corporation (the Bank). Neither the Bank nor any member of the Westpac Group (other than the Insurer, WSAL and BTFM) guarantees the benefits payable in relation to BT Protection Plans. This information has been prepared without taking into consideration your personal circumstances. Ask your adviser for the BT Protection Plans Product Disclosure Statement and Policy Document and the BT Protection Plans (SuperWrap and SuperWrap Essentials) Insurance Booklet (each a PDS), to see if BT Protection Plans is right for you.

    More about BT Portfolio Wrap
    BT Portfolio Services Ltd ABN 73 095 055 208 (BTPS) issues and operates BT Portfolio Wrap. An Investor Guide is available for BT Portfolio Wrap and can be obtained from a Westpac Financial Planner. You should obtain and consider this Guide before making a decision whether to acquire or to continue to hold or dispose of interests in BT Portfolio Wrap. BTPS’s Financial Services Guide can be downloaded from bt.com.au or obtained from a Westpac Financial Planner by calling BTPS on 1300 661 577.

    Apart from any interest investors may have in underlying bank accounts held at Westpac Banking Corporation ABN 33 007 457 141 (the Bank) through a Wrap Cash Account, other deposit products of the Bank or the Bank’s securities acquired using BT Portfolio Wrap, an investment in, or acquired using BT Portfolio Wrap is not an investment in, deposit with or any other liability of the Bank or any other company in the Westpac Group. It is subject to investment risk, including possible delays in repayment of withdrawal proceeds and loss of income and principal invested. The Bank is not the issuer of BT Portfolio Wrap. Neither the Bank nor any other company in the Westpac Group stands behind or otherwise guarantees the capital value or investment performance of any investments in, or acquired through, BT Portfolio Wrap.

    Westpac Financial Planners
    Westpac Financial Planners are authorised representatives of Westpac Banking Corporation, a licensed securities dealer.

Fees

Every dollar works harder in our Working and Savings accounts thanks to competitive interest rates that are calculated daily and paid monthly. There are no monthly account service fees or balance restrictions.

Current standard fees per transaction

FeesDIY Super Working accountDIY Super Savings account
Free Monthly Withdrawal AllowanceUnlimited self-service Westpac Online and Telephone Banking electronic transactions only Unlimited self-service Westpac Online and Telephone Banking electronic transactions only
Transaction Fees (charge per transaction when free withdrawal allowance is exceeded)
Telephone Banking (staff assisted)
$2.50
N/A
Cheque Withdrawals
$1.00
N/A
Direct Debits
Free
$5.00
Branch Staff-Assisted Withdrawals
$2.50
$5.00
Telephone Banking (automated)
Free
Free
Westpac Online Banking
Free
Free

View the full list of Westpac Online Investing fees and charges.

Things you should know
  • More information about Westpac DIY Working and Super Savings Accounts
    To operate Westpac DIY Super Savings, customers must hold a Westpac DIY Super Working Account. Fees may apply on the Westpac DIY Super Working Account. If you close your Westpac DIY Super Working account, you will need to close your linked Westpac DIY Super Savings account and, if applicable, arrange an alternative trading account for your Westpac Online Investing account.

    Any transactions you make in a month are calculated by us based on when we process the transaction to your account, which may be on a date after the day on which you make the withdrawal.

  • Card access is not available to these accounts.
  • Cheque access to the DIY Super Working account is only available to account holders 18 years or over.
  • Direct Debits and branch staff-assisted withdrawals are not usually allowed on DIY Super Savings accounts.
  •  

    More about Westpac DIY Super
    This information does not take into account your personal objectives, financial situation or needs so you should consider its appropriateness having regard to these factors before acting on it.

    The Westpac DIY Super Working and Westpac DIY Super Savings accounts are issued by Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.

    If you close your Westpac DIY Super Working account, you will need to close your linked Westpac DIY Super Savings account and, if applicable, arrange an alternative trading account for your Westpac Online Investing account.

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Rates

Standard variable interest rates p.a. for DIY Super Working and Savings accounts.

Current standard variable interest rate p.a.

 DIY Super Working accountDIY Super Savings account
$0 - $9,999

                   0.25%

                   2.70%

$10,000 - $49,999

                   2.50%

                   2.70%

$50,000 - $99,999

                   2.50%

                   2.70%

$100,000 - $499,999

                   2.50%

                   2.70%

$500,000+

                   2.50%

                   2.70%

Things you should know
  • How interest is calculated on Westpac DIY Working and Super Savings accounts
    Interest is calculated daily on the closing balance of your account and credited to your account on the last business day of each month. Rates may change at any time.

    More about Westpac DIY Super
    This information does not take into account your personal objectives, financial situation or needs so you should consider its appropriateness having regard to these factors before acting on it.

    The Westpac DIY Super Working and Westpac DIY Super Savings accounts are issued by Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.

    If you close your Westpac DIY Super Working account, you will need to close your linked Westpac DIY Super Savings account and, if applicable, arrange an alternative trading account for your Westpac Online Investing account.

  • Adobe Acrobat Reader
    To view PDF files you need Adobe Acrobat Reader. Use Adobe's online PDF conversion tools to convert to another format.

Insights

Simple facts about SMSF

Updated 1 June 2014


Top 9 things people do wrong in an SMSF 

Updated 1 June 2014


Rules & structures in an SMSF

Updated 1 June 2014