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How to manage your Term Deposits online

Save time by managing your Term Deposit accounts online via Westpac Live 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 Deposits on desktop

1. Administrators – provide yourself and your selected Users access to manage the relevant Term Deposit in Westpac Live

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
  • Review and Renew changes made

3. Close your Term Deposit

How-to guides

1. Click the Make changes tab.


2. Select the Add funds or Withdraw funds tab.


3. Select where you want to add funds from or withdraw funds to.


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 If a third party has access to manage your Term Deposit they are able to direct the portion withdrawn to be paid to other accounts which may not necessarily be in your name.
 

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. Click the Make changes tab.


2. Select the Term option.


3. Compare and select either your current term or another different rate and term.

1. Click the Make changes tab.


2. Select the pay interest option.


3. If you select monthly, provide the account you wish to pay interest into.


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.

Once you have made the Term Deposit changes you want:

1. Click Continue at the bottom of the Term Deposit instructions page.


2. Review changes made to Term Deposits.


3. Renew your Term Deposit


4. You will receive a notification via Message centre and email about your renewed Term Deposit.

Step 1: Select the Term Deposit you wish to close.

1. On your Overview screen, click on the Term Deposit.


2. Under Maturity instructions click Manage Term Deposits.

Tip

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

Step 2: Close your Term Deposit.

1. Click the Close tab.


2. Select either A linked account or Another account  to disburse funds to.


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.

Step 3: Review and Close.

1. Review changes made to Term Deposits.


2. Close your Term Deposit.


3. You will receive a notification via Message centre and email about your closed Term Deposit.

 

 

Westpac Live 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).

Things you should know

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