Anti Money Laundering changes - Effective 23rd February 2009
In December 2006, Australia passed new laws to bring us in line with international standards and guide our identification and mitigation of money laundering and terrorism financing. The Westpac Customer Identification Standards list the types of documents that can be used for identification when opening a bank account with us. Some forms previously available on this web site have been removed due to legislation changes.
Australian currency accounts
Guidelines
Transactional account Product Disclosure Statement (PDF 310KB)
Forms
For any account opening and authorities change applications submitted from 24 January 2020, all account signatories will be required to present at least one form of photo ID containing their full name, and date of birth (such as a drivers licence, passport) to an authorised Westpac representative or by visiting a local Westpac Branch to be identified. A secondary form of identification may be required in some instances.
Account opening form - Commonwealth Government (PDF 125KB)
Authority and indemnity for facsimile instructions (PDF 50KB)
Notice of authority - Commonwealth Government (PDF 381KB)
Annexure 'A' to notice of authority - Commonwealth Government (PDF 58KB)
Notice of authority (specific account) - Commonwealth Government (PDF 386KB)
Annexure 'A' to notice of authority (specific account) - Commonwealth Government (PDF 233KB)
Notice of authority for addition to persons authorised - Commonwealth Government (PDF 73KB)
Annexure 'A' to notice of authority for addition to persons authorised - Commonwealth Government (PDF 63KB)
Customer Identification
Under the Anti Money Laundering / Counter Terrorism Financing Act Westpac Group is required to collect and verify Customer Identification information, for any new customers on-boarded. To commence KYC onboarding please contact your Client Experience Manager who will initiate the process with our Customer Lifecycle Management (CLM) Team.
AML/CTF - Westpac Group policy
Guidance Document for Customers
The documents below have been prepared for customers to provide guidance on the process for certifying identification documents in Australia
Guidance on Certifying Identification Documents for Australian registered/resident customers (PDF 90KB)
Please return completed documents to your client Enquiry Manager
This form is a standard template requesting closure of an on-shore Australian dollar transactional account.
- This letter must be printed on your Company / Customer Letterhead and signed by the authorised account signatories.
- If the closing account is a drawing / debit account and/or a fee account for either a Merchant or Direct Entry facility, please contact your Client Enquiry Manager prior to completing an Account Closure Request form.
Please return completed documentation to your Client Enquiry Manager.
How do I open foreign currency accounts?
A Foreign Currency Account is an Australian based deposit account for foreign currency. They are available for most major currencies.
The Account Opening form and Notice of Authority must be completed to establish a Foreign Currency Account.
Foreign Currency Account Opening Form (PDF 1MB)
Notice of Authority (PDF 212KB)
Foreign Currency Account - Terms & Conditions (PDF 3MB)
Incorporates the Terms and Conditions of accounts.
Foreign Currency Term Deposits
Foreign Currency Term Deposits PDS (PDF 109KB)
Foreign Currency Term Deposit Application (PDF 158KB)
How do I close foreign currency accounts?
Please complete and return the Foreign Currency Accounts Request for Account Closure request (PDF 125KB) when requesting the closure of an on-shore foreign currency account. This document allows you to type details directly onto it and should be signed by authorised signatories.
Please return completed documentation to your Client Enquiry Manager.