Community Solutions Cash Reserve
Put received funds to work straight away, earning interest for your cause.
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.
Account fees
| Account | Amount |
|---|---|
| Account-keeping fee (formerly known as monthly service fee) | $0 |
| Number of free transactions per month | Unlimited transfers between other Westpac transaction accounts held by customer in the same name(s) as the Community Solutions Cash Reserve account, using Online Banking or the Westpac App |
| eStatements | $0 |
Transaction fees (charged per transaction)
| Transaction | Amount |
|---|---|
| Self-service (electronic) withdrawals - transfers between other Westpac transaction accounts by Business Online Banking or the Westpac App | $0 |
| Self-service (electronic) deposits | $0 |
| Cheques collected or deposited (Additional charge for the branch transaction applies) | $0 |
| Staff assisted withdrawal (not usually available) | $5 |
| Staff assisted deposit (including cheques) | $0 |
| Narrated credits (not usually available) | $2.50 |
Account enquiries
| Enquiries | Amount |
|---|---|
| Business Telephone Banking | $0 |
| Business Online Banking | $0 |
Includes balance enquiries and obtaining deposit or withdrawal details. Other bank charges may apply. See Terms and Conditions
Interest is calculated daily and paid monthly1. Rates are current as at 3rd Nov 2023 and are subject to change at any time.
Variable interest rates (p.a.)
| Amount | Variable base rates p.a. |
|---|---|
| All balance tiers for balances from $0 to $9,999 | 0.80% |
| All balance tiers for balances above $9,999 to $19,999 | 0.80% |
| All balance tiers for balances above $19,999 to $49,999 | 0.80% |
| All balance tiers for balances above $49,999 to $99,999 | 0.80% |
| All balance tiers for balances above $99,999 to $499,999 | 0.80% |
| All balance tiers for balances above $499,999 and over | 0.80% |
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 869KB)
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.