Community Solutions Cash Reserve
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 interest on your surplus funds, noting that zero interest rates may apply from time to time¹
- Get access to your savings at any time²
- No minimum balance needed
How it works
To operate your Community Solutions Cash Reserve bank account for not-for-profits, you need to have an eligible 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. Rates are current as at 22nd January 2021 and are subject to change at any time.
Variable interest rates (p.a.)
| Amount | Variable base rates p.a. |
|---|---|
| $0 - $9,999 | 0.01% |
| $10,000 - $19,999 | 0.01% |
| $20,000 - $49,999 | 0.01% |
| $50,000 - $99,999 | 0.01% |
| $100,000 - $249,999 | 0.01% |
| $250,000 - $499,999 | 0.01% |
| $500,000+ | 0.01% |
Eligibility
- 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 business transaction account to link to.
Not eligible for this account? Try a Business Cash Reserve account.
Things you should know
Deposit Accounts for Business Customers Terms and Conditions (PDF 693KB)
2. Access to funds is subject to system availability.
Narrated credits
Branch transactions using a serial number encoded deposit slip enabling you to identify the deposit from the serial number used.
Overseas ATM cash withdrawal surcharges.
Fees, charges, terms and conditions apply. Talk to your banker for more product details.