Skip to main content Skip to main navigation
Skip to accessibility page Skip to search input

Why switch to a Westpac Life savings account with a linked Choice account?

Opening a Westpac Choice everyday account1 and Life Savings account together can help you pay bills automatically, save regularly and know what you've got left to spend.


Get paid directly into your Choice account (there's $0 monthly service fee when you deposit a minimum of $2,000 by the last business day of the month).


Set up automatic bill payments to save time and avoid hassle.

Use the Savings Goals3 feature in Online Banking to set up multiple savings goals within the one account. You can also name your goals, choose the amount you want to save and when you want to save it by, so you’ll know exactly what the regular amount is you’ll need to put away.


Juggling different savings goals is easy with a Westpac Life account. Not only can you keep track of your progress, you’ll also be rewarded with bonus interest every month you grow your savings2.

Earn up to 1.65% p.a. variable interest rate

0.45% p.a.

Standard variable base rate


1.20% p.a.

Variable bonus rate each month you grow your balance2

Here's what you'll get

Shop and get  money out with a Debit Mastercard®

Use your Debit Mastercard4 to shop securely online, access cash at ATMs and use PayPass™ to tap and go on purchases under $100.

Be rewarded with bonus interest

Enjoy a competitive base rate on your savings and earn bonus interest each month you grow your balance1 .

Maximise your savings

Got a savings goal in mind? Use the Savings Goals3 feature to set up and track your personalised goals in Online Banking.

Secure banking

We’ve got your back with 24/7 fraud monitoring and our Fraud Money Back Guarantee5.

Fees you might pay

Standard fees (fees may change) Westpac Life Account Choice Transaction Account
Monthly service fee $0 $5 (criteria for fee waiver below)
Online Banking transactions (including Mobile Banking) $0 $0
EFTPOS and Debit Mastercard transactions N/A $0
Westpac, St.George, BankSA, Bank of Melbourne ATM withdrawal N/A $0
Non-Westpac, St.George, BankSA, Bank of Melbourne ATMs within Australia cash withdrawal or balance enquiry (however the ATM owner may apply an ATM operator fee) N/A $0
Cheques written N/A $0
Direct debit N/A $0
Periodical payments (Additional fees apply) for periodical payments made by bank cheque and international periodical payments) N/A $0
Dishonour of cheques written or direct debits N/A $5
Account overdrawn fee
N/A $15
Telephone Banking withdrawal (staff assisted) $2.50 N/A
Branch staff assisted withdrawal $2.50 N/A

Choice Transaction Account monthly service fee waived for:

Get your banking and savings sorted in minutes

  1. Open online in less than 3 minutes
  2. Instantly transfer your Reward Saver balance to your new Life account
  3. Set up savings goals and start earning interest to help you achieve them

Things you should know

Deposit Accounts for Personal & SMSF customers Terms and Conditions (PDF 1MB)

Westpac Debit Mastercard® Terms and Conditions (PDF 149KB) (PDF 3MB)

Westpac Emergency Cash and Westpac Get Cash Terms and Conditions (PDF 115KB) (PDF 91KB)

Online Banking Terms and Conditions (PDF 1MB)

Personal Telephone Banking Terms and Conditions

Find out what information you need to provide to become a customer (PDF 768KB)

Before making a decision about any of our products or services, please read all the terms and conditions and consider whether the product or service is right for you. Fees and charges apply and may change.


  1. Westpac everyday account: To open a Westpac Life account, you must hold a Westpac everyday account. Fees and charges apply on a Westpac everyday account.
  2. Bonus interest: payable each month that you: make a deposit to the account, ensure the account balance is higher at the end than the beginning of the month, and keep the account balance above $0. For bonus interest qualification, a month is the period from close of business on the last business day of the prior month to close of business on the last business day of the current month.
  3. Savings Goals: Both an account holder and an authorised user can use the Savings Goals feature in Online Banking, including to view, add, edit and delete the Savings Goals on a Westpac Life account.
  4. Debit Mastercard: You need to be at least 14 years of age, and have an Australian residential address to be eligible for the card. If you're not eligible for a Debit Mastercard, apply for a Handycard to access your account.
  5. Westpac Fraud Money Back Guarantee: Customers will be reimbursed for any unauthorised transactions provided that the customer has not contributed to the loss and contacted Westpac promptly.

Google Pay
: Read the Terms and Conditions before making a decision and consider if it is right for you. Available for eligible cards. To use Google Pay you will need to use a compatible device with a supported operating system.

Samsung Pay: 
Read the Samsung Pay Terms and Conditions before making a decision and consider if it is right for you. Available for eligible cards. To use Samsung Pay you will need to use a compatible phone with a supported operating system. Internet connection may be needed to make payments using Samsung Pay and normal mobile data charges apply.


Apple, the Apple logo, iPhone and Apple watch are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service of Apple Inc.

World Mastercard®, Mastercard® and the Mastercard brand mark are registered trademarks, and PayPass is a trademark of Mastercard International Incorporated.

BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.