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Save time by managing your Term Deposit accounts online via Westpac Online Banking on desktop and mobile.

This will allow you to:

  • Provide maturity instructions during the Variation Period1
  • Select the length and interest rate of a maturing Term Deposit which you wish to renew
  • Disburse some or all of your funds on a maturing Term Deposit to a linked account or another Australian financial institution
  • Receive notifications via Message Centre and emails when your Term Deposit is maturing.

To manage your Term Deposit online

  1. Administrators – provide yourself and your selected Users access to manage the relevant Term Deposit in Westpac Online Banking (can only be performed on desktop)
  2. Check your renewal details and make changes to your Term Deposit
    • Review your Term Deposit instructions
    • If you need to make changes to your:
      • Amount
      • Term
      • Interest Payment frequency and account details
  3. Review and Renew changes made

 

Westpac Online Banking is available to update Term Deposits from 8.00am to 9.30pm Monday to Friday and 8.00am to 4.00pm on Saturdays (Sydney time).

 


How-to guides

Review Term Deposits instructions

2. Under Maturity instructions click Check interest rate.

If details are correct no changes are required, there’s nothing more to do. Your Term Deposit will roll over at the end of the Variation Period1 following the instructions displayed.
 


Desktop


Mobile

Tip

To Manage Term Deposits you can also click on Services and preferences > Services > under Account Services click Manage Term Deposits.

Change the amount deposited

2. Select Make changes and renew account then click/tap Next


Desktop


Mobile

3. Update what you would like to do under Renewal amount then select Get Rates. Select the rate and term that best suits you then click/tap Next.
 

Important Note: If a third party has access to manage your Term Deposit they are able to direct the portion withdrawn to be paid to other accounts which may not necessarily be in your name.
 

Desktop

Mobile

4. Review changes made to your Term Deposit. If details are correct, tap/click Renew Term Deposit.

You will receive a notification via Message centre and by email confirming the details of your renewed Term Deposit.

 

Desktop

Mobile

Change the term of the deposit

2. Select Make changes and renew account then click/tap Next

Desktop

Mobile

3Enter your Renewal amount then your Term and compare interest rates by selecting Get rates. Select either your current term or a different rate and term. Then click/tap Next.

 

Desktop

4. Review changes made to your Term Deposit. If details are correct, tap/click Renew Term Deposit.

You will receive a notification via Message centre and by email confirming the details of your renewed Term Deposit.

 

Desktop

Mobile

Change the frequency of interest payments

2. Select Make changes and renew account then click/tap Next.

Desktop

Mobile

3. If on a desktop, Under Interest paid and Pay interest to provide when and the account you wish to pay interest into.

If on a Mobile, click on Select an account under Withdraw funds to. Then provide when and the account you wish to pay interest to.

Then tap/click Next.
 

Desktop

Mobile


Important Note:
 If a third party has access to manage your Term Deposit they are able to direct the interest to be paid to other accounts which may not necessarily be in your name.

4. Review changes made to your Term Deposit. If details are correct, tap/click Renew Term Deposit.

You will receive a notification via Message centre and by email confirming the details of your renewed Term Deposit.

 

Desktop

Mobile

Close and disburse your Term Deposit

2. Under Maturity instructions, select Make changes.


Desktop


Mobile

3. Close your Term Deposit by selecting Close account and withdraw everything, then tap/click Next.

 


Desktop


Mobile

4. Choose to pay the closing balance to either a linked account or an external account, then tap/click Next.


Desktop


Mobile


Important Note:
 If a third party has access to manage your Term Deposit they are able to direct the balance to be paid to other accounts which may not necessarily be in your name.
 

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.

5. Review the details of the Term Deposit closure, then tap/click Close. You will receive a notification via Message centre and email about your closed Term Deposit.

 

Desktop

Mobile


 

Things you should know

1 'Variation period' means 6 business days from the maturity date of the Term Deposit.