How to manage your Farm Management Deposits online
Save time by managing your Farm Management Deposit accounts online via Westpac Live.
This will allow you to:
- Provide maturity instructions during the Variation Period1
- Select the length and interest rate of a maturing Farm Management Deposit which you wish to renew
- Disburse some or all of your funds on a maturing Farm Management Deposit to a linked account or another Australian financial institution
- Receive notifications via Message Centre and emails when your Farm Management Deposit is maturing.
To manage your Term Deposit on desktop
1. Check your renewal details and make changes to your Farm Management Deposit
- Review your Farm Management Deposit instructions
- If you need to make changes to your:
- Amount
- Term
- Interest Payment frequency and account details
2. Review and Renew changes made
Westpac Live is available to update Farm Management Deposits from 8.00am to 9.30pm Monday to Friday and 8.00am to 4.00pm on Saturdays (Sydney time).
How-to guides
1. Under Maturity instructions, review current instruction then select Make changes.
2. Choose the account you wish to adjust, then select Make changes and renew account.
Important Note: Deposits can only be managed within the 6 day variation period once matured.
3. Select Reinvest part of the deposit amount, then enter the amount to withdraw and choose the account to Withdraw funds to.
Important Note: If a third party has access to manage your Farm Management Deposit, they are able to direct the portion withdrawn to be paid to other accounts that may not necessarily be in your name.
4. Compare interest rates and terms, then select either your current term or a different rate and term. Then tap/click Next.
Tip
If you don't see "A linked account" tab, you may not have a Westpac Account eligible for transfers to/from [or] you may not have the access to transact on that account. Please check with your Administrator.
1. Under Maturity instructions, select Make changes.
Important Note: Deposits can only be managed within the 6 day variation period once matured
2. Select either Reinvest original deposit amount or Reinvest part of the deposit amount.
3. Compare interest rates and terms, then select either your current term or a different rate and term. Then tap/click Next.
1. Under Maturity instructions, select Make changes.
Important Note: Deposits can only be managed within the 6 day variation period once matured
2. Select the Pay interest to option.
3. If you select Monthly, provide the account you wish to pay interest into. Then tap/click Next.
Important Note: If a third party has access to manage your Farm Management Deposit they are able to direct the interest to be paid to other accounts that may not necessarily be in your name.
1. Tap/click Next at the bottom of the Adjust your Farm Management Deposit instructions section.
2. Review changes made to your Farm Management Deposit.
3. If details are correct, tap/click Renew Term Deposit
4. You will receive a notification via Messages Centre and by email confirming the details of your renewed Farm Management Deposit.
1. Sign into Westpac Live and on your Overview screen, select the Farm Management Deposit you wish to close.
2. Under Maturity instructions, select Make changes.
Tip
To manage your deposits you can also select Services and preferences > Services and under Account Services select Manage Term Deposits.
3. Close your Farm Management Deposit by selecting Close account and withdraw everything, then tap/click Next.
4. Choose to pay the closing balance to either a linked account or another account, then tap/click Next.
Important Note: If a third party has access to manage your Farm Management Deposit they are able to direct the balance to be paid to other accounts that may not necessarily be in your name.
5. Review the details of the Farm Management Deposit closure, then tap/click Close.
Things you should know
1 'Variation period' means 6 business days from the maturity date of the Term Deposit.