Everyday banking and savings account
Why open a Choice everyday account and Westpac Life savings account together1?
Shop and get money out with a Debit Mastercard2
Use your Debit Mastercard2 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 balance3.
Maximise your savings
Got a savings goal in mind? Use the Savings Goals4 feature to set up and track your personalised goals in Online Banking.
We’ve got your back with 24/7 fraud monitoring and our Fraud Money Back Guarantee5.
Get up to 3% p.a. variable interest on your savings
When you grow your savings with a Westpac Life account and make 5 eligible purchases with a debit card linked to your Choice account each month
Savings Goals feature
The Westpac Life account Savings Goals4 make it easy to manage your long and short term goals within a single account.
1. Setting up your savings goals
Set up to 6 different goals in the one account! You can change the savings amount, date and category across all of your goals and adjust them at any time.
2. Adding to your savings goals
Each time you transfer money into your savings, you can distribute your amount across goals. Make it easier by setting up recurring transfers so the money automatically splits after pay day.
3. Tracking your progress
Tap on each of your savings goals to see how you're doing and how much you should be saving to make it in time.
Withdraw cash using your phone
Withdraw cash using your phone from any Westpac, St.George, Bank of Melbourne or BankSA ATM10. We can also help you find your nearest ATM using the app.
How to open
You can open an everyday and a savings account together through one simple form.
Open online in less than 3 minutes
You can get your ID verified instantly with your driver’s licence, Medicare Card, passport, NSW Photo Card or birth certificate (no need to visit a branch).
Activate your Online Banking in an instant
Once you’re activated you can import BPAY® billers and Payees from selected banks into your Westpac Online Banking.
We’ll verify your ID and send out your Debit Mastercard
Your ID is verified online or in branch. Once you have your card you can use it to shop online or in person worldwide using your own money.
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 Internet Banking.
|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|
|Periodical payments (Additional fees apply) for periodical payments made by bank cheque and international periodical payments)||N/A||$0|
|Account overdrawn fee
|Telephone Banking withdrawal (staff assisted)||$2.50||N/A|
|Branch staff assisted withdrawal||$2.50||N/A|
- Customers that deposit at least $2,000 each month (other fees apply)
- Customer under the age of 21 or a full-time tertiary students
- Australian Pensioner Concession or Health Care Card holders
- New to Australia or expatriate customers (for the first 12 months).
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 account 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.
Overseas fees apply to Westpac Choice account only.
|Standard fees (fees may change)||Amount|
|Overseas ATM balance enquiry from a non-Global Alliance Partner ATM||$0|
|Overseas ATM balance enquiry from a Global Alliance Partner ATM||$0|
|Overseas ATM cash withdrawal from a non-Global Alliance Partner ATM||$5|
|Overseas ATM cash withdrawal from a Global Alliance Partner ATM||$0|
|Westpac Foreign Transaction Fee||Depends on transaction type - see below|
Westpac Foreign Transaction Fee
The Westpac Foreign Transaction Fee is payable and will be incorporated into the $AUD transaction amount shown on your statement. The fee charged will either be:
a) 3% of the $AUD transaction amount where a transaction is made in foreign currency and the merchant or financial institution accepting the card is located outside Australia (comprising of 2% Westpac Processing Fee plus 1% Westpac On-Charged Scheme Fee); or
b) 2.2% of the $AUD transaction amount where a transaction is made in foreign currency and the merchant or financial institution accepting the card is located in Australia (comprising of 2% Westpac Processing Fee plus 0.2% Westpac On-Charged Scheme Fee).
Global Alliance Partners
For more information on participating Global Alliance Partners in designated countries, see Accessing your accounts overseas.
Credit Cardholders who currently withdraw money from linked Westpac account via credit card, it is important to know that this functionality may not be available when using overseas ATMs, including Global Alliance ATMs. To ensure access to Savings and/or Cheque account funds when overseas please speak to us about obtaining a Debit Mastercard®. Go to our Debit Mastercard page or visit a Westpac branch. Terms and Conditions and Fees and charges may apply.
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.
2. Debit Mastercard®: holders 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.
10. Cardless cash: is available on eligible Westpac transaction accounts with a linked debit card. Get Cash limit of 3 withdrawals per day applies, subject to $500 daily withdrawal limit and $1,000 weekly withdrawal limit. Only available at Westpac Group ATMs in Australia. To access cardless cash on your mobile you must be registered to use Westpac Online Banking and download the Westpac Mobile Banking App to use Westpac Mobile Banking on Apple Watch you’ll need to pair your Apple Watch with an iPhone 5 or above with iOS 8.2 or above. You’ll also need the Westpac Mobile Banking app (version 6.1 or above) installed on your iPhone.
Available to individuals aged 18-29 on new and existing sets of Westpac Life and Choice accounts from 1st July 2020 and may be varied or withdrawn at any time in accordance with the deposit account terms and conditions. Westpac Choice and Westpac Life sole or joint accounts must be opened in the same customer name(s). Eligible on a maximum of 3 sets of Choice and Westpac Life sole and/or joint accounts.Westpac Deposit Accounts for personal and self-managed superannuation fund customers
Read the 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.
Apple, the Apple logo and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. Apple Watch is a trademark of Apple Inc. App Store is a service mark of Apple Inc. Android, Google Pay and Google Play are trademarks of Google LLC.
World Mastercard®, Mastercard® and the Mastercard brand mark are registered trademarks of, and PayPassTM is a trademark of, Mastercard International Incorporated.
BPAY® and Osko® are registered trademarks of BPAY Pty Ltd ABN 69 079 137 518.
Westpac PayWear is a registered trademark and PayWear is a trademark of Westpac Banking Corporation.