Link up to 10 offset accounts

Why have multiple offset accounts?

How to make the most of your offset account

• Keep as much money in it as you can, for as long as you can
• Get paid into your offset, so every dollar you earn works harder for you
• Put all your extra money into your offset account, especially if your savings account earns less interest than your home loan
• Set up multiple offsets that link to your home loan account to help manage your expenses and savings
• Link Choice accounts that are in one or more of the borrowers’ names to separate personal and investment accounts.

Link up to 10 offset accounts

If you have a Westpac Rocket Repay home loan you can link up to 10 offset accounts in the Westpac App or Online Banking.

You can link any Westpac Choice account that is in the name of one or more of the borrowers listed on your home loan.

By linking a Choice account to your home loan, the $5 monthly Account-Keeping fee will be waived for as long as the account is linked.

In the Westpac App

1. Search Manage offset accounts in the Smart Search bar
2. Follow the prompts.

In Online Banking

1. Go to Service, then Account services
2. Select Manage offset accounts and follow the prompts.

How do multiple offsets work?

Offsets are simply Westpac Choice everyday accounts linked to your home loan. Every dollar in every offset counts towards offsetting (lowering) the daily home loan interest charged.

• Up to 10 offsets per home loan
• Monthly Choice account fee waived when linked
• Each offset can only link to one home loan
• Share a home loan? Offset accounts can be in one or more borrowers names
• Choice accounts of someone not on the loan can’t be linked
• You can name offsets e.g. ‘Amy holiday offset’

To unlink a Choice account so it is no longer linked as an offset account.

In the Westpac App or Online Banking: select the linked offset account and follow the prompts.

Note: by unlinking a Choice account from your home loan, the $5 monthly Account-Keeping Fee may apply, unless you meet one of the following:

• You deposit at least $2,000 each month into your Choice account
• You’re under the age of 30 or a full-time tertiary student
• You’re a Westpac Choice Concession account holder
• You’re new to Australia or expatriate customers (for the first 12 months).

If you have multiple offset accounts, you can give them nicknames so that it’s easier for you to identify them. It’s especially handy if you’ve set up several accounts to act like buckets for savings.

You can nickname your accounts in Online Banking or the Westpac App. The nickname is specific to your profile. Joint account holders can choose their own nickname for the same account.

Nicknames can be letters, numbers and special characters including spaces and must be less than 30 characters.

In the Westpac App:

Make sure you update to the latest version of the app.

1. Tap the account​
2. Tap the (i) icon in the top right of the screen​
3. Tap Edit and add Nickname​
4. Tap return on your keypad​

In Online Banking:

1. Go to Service > Preferences > Accounts​
2. Select the account​
3. Add Nickname and select Save