Community Solutions Cash Reserve Bonus
Benefits for your not-for-profit organisation
- No account-keeping fees
- No fees to move cash to and from your Westpac transaction account through Online Banking and the Westpac App
- Regularly deposit funds to grow savings balance
- Earn bonus interest on balances of $10,000 or more by making no withdrawals in a month, noting that zero interest rates may apply from time to time¹ ²
- Get access to your savings at any time³
How it works
To operate your Community Solutions Cash Reserve Bonus bank account for not-for-profits, you need to have a Westpac transaction account in the same name. This lets you move your money between these accounts as often as you like – and it’s free when using Online Banking and the Westpac App.
Interest is calculated daily and paid monthly1, 2. Rates are current as at 22nd January 2021 and are subject to change at any time.
Variable interest rates (p.a.)
|$0 - $9,999||0.01%||0.01%|
|$10,000 - $19,999||0.02%
|$20,000 - $49,999||0.02%
|$50,000 - $99,999||0.02%
|$100,000 - $249,999||0.02%
|$250,000 - $499,999||0.02%||0.01%
- 18+ years old (applicant plus all signatories)
- Not-for-profit organisations including charities, community and sporting groups, schools, government bodies, and registered political parties
- Operating in Australia with an Australian address
- Needs an eligible Westpac transaction account to link to.
Things you should know
2. Bonus interest is paid upon customer not making any withdrawals during the calendar month. 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 and interest rate applicable for that month, but in the interest calculation and interest rate applicable for the following month. See terms and conditions for further information
3. Access to funds is subject to system availability.
Branch transactions using a serial number encoded deposit slip enabling you to identify the deposit from the serial number used.
Fees, charges, terms and conditions apply. Talk to your banker for more product details.