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Privacy Statement

Personal information

We collect personal information from you to process your application, provide you with your product or service, and manage your product or service. We may also use your information to comply with legislative or regulatory requirements in any jurisdiction, prevent fraud, crime or other activity that may cause harm in relation to our products or services and help us run our business. We may also use your information to tell you about products or services we think may interest you.

If you do not provide all the information we request, we may need to reject your application or we may no longer be able to provide a product or service to you.

We may disclose your personal information to other members of the Westpac Group, anyone we engage to do something on our behalf, and other organisations that assist us with our business.

We may disclose your personal information to an entity which is located outside Australia. Details of the countries where the overseas recipients are likely to be located are in our privacy policy.

As a provider of financial services, we have obligations to disclose some personal information to government agencies and regulators in Australia, and in some cases offshore. We are not able to ensure that foreign government agencies or regulators will comply with Australian privacy laws, although they may have their own privacy laws. By using our products or services, you consent to these disclosures.

We are required or authorised to collect personal information from you by certain laws. Details of these laws are in our privacy policy.

Our privacy policy is available at westpac.com.au or by calling 132 032. It covers:

  • how you can access the personal information we hold about you and ask for it to be corrected;
  • how you may complain about a breach of the Australian Privacy Principles or a registered privacy code and how we will deal with your complaint;
  • how we collect, hold, use and disclose your personal information in more detail.

We will update our privacy policy from time to time.

Information about products and services

We will use or disclose your personal information to contact you or send you information about other products and services offered by the Westpac Group or its preferred suppliers.

Please call us on 132 032 or visit any of our branches if you do not wish to receive marketing communications from us.

Our reporting obligations

  • We are required to identify tax residents of a country(ies) other than Australia in order to meet account information reporting requirements under local and international laws.
  • If at any time after account opening, information in our possession suggests that you, the entity and/or any individual who holds ownership and/or control in the entity of 25% or more (Controlling Person/Beneficial Owner) may be a tax resident of a country(ies) other than Australia, you may be contacted to provide further information on your foreign tax status and/or the foreign tax status of the entity and/or any Controlling Person/Beneficial Owner. Failure to respond may lead to certain reporting requirements applying to the account.
  • By completing this application you certify that if at any time there is a change to the foreign tax status details for you, the entity and/or any controlling persons/beneficial owner, you will inform the bank. You also certify that if at any time there is a change of a controlling person/s/beneficial owner/s in your entity, you will inform the bank.
  • A controlling person/beneficial owner refers to the individual(s) that directly or indirectly owns a legal interest in the entity of 25% or more and/or exercises actual effective control over the entity, whether from an economic or other perspective such as through voting rights. In addition, in the case of a trust, a controlling person/beneficial owner includes the settlor(s), trustee(s), appointer(s), protector(s), beneficiary(ies) or classes of beneficiaries and in the case of an entity other than a trust, the term includes persons in equivalent or similar positions.
  • By completing this application, you also certify that the settlor(s) and/or any named beneficiary(ies) are not foreign tax residents. If the settlor(s) and/or any named beneficiary(ies) are a foreign tax resident, you must telephone 1300 725 863 at the time of completing this application. If, at the time of completing this application, there are no named beneficiaries, you confirm you will telephone 1300 725 863 immediately after a decision has been made to make a distribution to such beneficiaries and their identities become known. When you contact us, you will be asked to provide additional information for the settlor(s) and/or named beneficiary(ies).

OTHER ACKNOWLEDGMENTS AND CONSENTS

Where you have provided information about another individual, you must make them aware of that fact and the contents of the Privacy Statement.

Anti-Money Laundering and Counter-Terrorism Financing Act 2006 Requirements

You state that:

  • The account will be held in the name of a person
  • The account will not be held in trust
  • If you are known by any other name you have already provided your other name(s) to us or you will contact us to provide your other name(s) as part of your application for the account(s).

NOTE: It is an offence under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 to give false or misleading information.

DEFINITIONS

"Westpac", "we", "our", "us" means Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714. "Westpac Group" means Westpac Banking Corporation and its related bodies corporate.

©2019 Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714