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Why open a Life and Choice account together?  

  • $0 monthly fees for eligible account holders or if you deposit at least $2,000 a month
  • Separate spending and saving for simple money management
  • Earn bonus interest each month you grow your savings 2
  • A Debit Mastercard ®3 to shop securely online, access cash at ATMs, and tap and go on purchases under $100 with PayPass™.
     

Switch to Westpac

Once you've opened an account with us, switching your banking is now easier than ever.

Connect to your existing bank and import your payees and BPAY® billers into Westpac Online Banking.

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Interest rates

On your Westpac Life savings account earn up to:

5.00% p.a.

Total variable interest rate

1.85% p.a.

Standard variable base rate

The total variable rate is a combination of:

Standard variable base rate (when no standard variable bonus rate applies) 1.85% p.a.
Standard variable bonus rate1 3.15% p.a.

Aged 18-29?

You could earn up to 5.20% p.a. variable interest on your first $30,000 savings with a Life Savings and Choice bank account.

Find out more

Go anywhere banking you can count on

Pay on the go

Purchase with Google PayTM5, Samsung PayTM6 or Apple Pay by tapping your mobile at contactless terminals.

Lock your card

Can’t find your card? Don’t panic. You can temporarily lock it in seconds with card on hold while you search7.

Cardless cash

No card? Withdraw cash using your phone from any Westpac, St.George, Bank of Melbourne or BankSA ATM8.

Mobile banking

With the Westpac App, you can take your bank wherever you go. It’s an easy, secure and convenient way to bank.

Two accounts, linked to simplify your banking

Westpac Life

A savings account to help you reach your savings goals sooner by earning bonus interest every month you increase your balance.

plus

Westpac Choice

A simple-to-use everyday account packed full of features, including a Debit Mastercard designed to help you bank with ease.
 

Safe and secure banking
 

Safe Online Banking Guarantee

If your Westpac account is compromised as a result of Internet fraud, we guarantee to repay any missing funds, providing you comply with our Online Banking Terms and Conditions.9

Fraud Money Back Guarantee

Shop securely using your Debit Mastercard with 24/7 fraud monitoring and our Fraud Money Back Guarantee10. Can’t find your card? Temporarily lock it in seconds while you search7.

Westpac Protect™ Security Code

Increase your Online Banking security by using your Security Code to confirm certain transactions via the Westpac App or SMS.

Get the Westpac App for even easier banking


View and transfer funds fast

Quick Balance lets you view the balance of three main accounts and quickly transfer money without signing in.

Set and track savings goals

Set up to 6 savings goals for things that matter to you, like saving for a home deposit or a holiday. You can even share goals with family and friends to boost savings, tracking your progress with Savings Goals.

Get sorted with in-app budget tools

Track your month-to-month Cash flow and spot areas where you could be making savings with your spend sorted in Categories.

 

Account fees

Standard fees (fees may change) Westpac Life Account Choice Transaction Account
Account-Keeping 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
Overdrawn Fee N/A $15
Telephone Banking withdrawal (staff assisted) $0.00 N/A
Branch staff assisted withdrawal $0.00 N/A
Choice Transaction Account Account-Keeping Fee:
This fee is waived for:


There are no fees for Online Banking or Automated Telephone Banking transfers from a Westpac Life account to a Westpac everyday account held in the name of the account holder or authorised user who is requesting the transfer. To access your money, we recommend you transfer funds to your Westpac everyday account4 and then make your withdrawal or payment.

Direct debits, periodical payments, BPAY®, Pay Anyone, cheque withdrawals and ATM transactions are not available from a Westpac Life account.


Other fees and charges may apply. Please refer to the Terms and Conditions (PDF 625KB)

Frequently asked questions

Bonus interest is payable each month that you:
 

  • Make a deposit to the account;
  • Ensure your account balance is higher at the end than the beginning; and
  • Keep your account balance above $0 at all times.
     

A month means from 11.59pm on the last business day of the previous month to 11.59pm on the last business day of the current month. A business day means any weekday from Monday to Friday, excluding weekends and national public holidays.

Help when you need it

Things you should know

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 Life variable interest: includes a standard variable base rate plus a variable bonus rate. To earn the variable bonus interest you must make a deposit to your Westpac Life account, ensure the account balance is higher at the end than the beginning of the month and keep the account balance above $0. Interest is calculated on the daily balance of your Westpac Life account and paid on the last business day of the month.  
 
2.  Bonus interest: You will be eligible for bonus interest during the month (a month is the period from close of business on the last business day of the previous month to close of business on the last business day of the current month) and subject to transaction processing time, if:
a. your account balance has not fallen below $0; and
b. you (or someone on your behalf) have made a deposit of any amount (interest paid into your account does not qualify as a deposit in terms of bonus interest eligibility); and
c. the account balance on the last business day of the month is higher than the account balance on the last business day of the previous month.
Note: Bonus interest is calculated in the system after 11:59pm on the last business day of the month. Any transaction processed before 11:59pm may impact bonus interest eligibility.  

3. Debit Mastercard®: Westpac Choice Youth account, the eligible card age is 8. For any other transaction account, the eligible card age is 14. You must have an Australian residential address.
 
4.  Westpac everyday account: To open a Westpac Life or Bump account, customers must hold a Westpac everyday account in the same name and be registered for Online and Phone Banking.  Fees and charges may apply on the everyday account. 
 
5. Google Pay: Read the  Terms and Conditions (PDF 125KB) 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.  
 
6. Samsung Pay: Read the  Samsung Pay Terms and Conditions (PDF 63KB) 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.  
 
7.  Card on hold: Available on personal credit and Mastercard® debit cards only. Cards to which a temporary lock can be applied will be listed when you sign in to Mobile Banking or Online Banking and visit Lock a card temporarily under Cards services.  
 
8. Cardless cash: available on eligible Westpac everyday accounts with a linked debit card for customers 18 years and over. Limit of 3 withdrawal transactions per day applies, subject to $500 daily withdrawal limit and $1,000 weekly withdrawal limit. Only available at Westpac Group ATMs or select Westpac Group partner ATMs in Australia. To access Cardless Cash on your mobile you must be registered to use Online Banking and download the Westpac App. You'll also need the Westpac App (version 6.1 or above) installed on your iPhone. You must be 18 years or older to use Cardless Cash.  
 
9.  Financial Claims Scheme: payments under the FCS are subject to a limit for each depositor. For more information visit  www.fcs.gov.au.


10. 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.

# Open a new Westpac Choice account online between 1 February 2024 and 30 September 2025 to have the monthly Account Keeping fee waived for the first 12 months. At the end of the 12-month period, the monthly Account Keeping fee (currently $5) will apply unless the minimum monthly deposit criteria are met. Individual(s) under the age of 30, New Arrivals, and students are ineligible for this Offer. This offer is not applicable to the Westpac Choice Concession account. For joint accounts, individuals must meet the eligibility criteria for the fee waiver to apply. Other fees and charges, terms and conditions apply to the Westpac Choice account. This offer may be repeated from time to time, withdrawn, varied, or extended at any time.
  

Read the Apple Pay Terms and Conditions (PDF 42KB) before making a decision and consider if it is right for you. To use Apple Pay you will need an eligible card and a compatible device with a supported operating system. See our Apple Pay FAQs for more information. Apple, the Apple logo, Apple Pay, Apple Watch and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.


Samsung and Samsung Pay are trademarks or registered trademarks of Samsung Electronics Co., Ltd.
 

Google Pay is a trademark of Google LLC.
 

Registered to BPAY Pty Ltd ABN 69 079 137 518.
 

PayPass is a trademark of Mastercard International Incorporated.
 

Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.