Everyday Spending & Saving
Take charge of your money on payday with two linked accounts to help you budget and save.
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.
Pay
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).
Manage
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.
Save
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 2.30% p.a. variable interest rate
1.00% p.a.
Standard variable base rate
plus
1.30% 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:
- 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).
Get your banking and savings sorted in minutes
- Open online in less than 3 minutes
- Activate your online banking in an instant
- 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 2MB)
Westpac Debit Mastercard® Terms and Conditions (PDF 149KB) (PDF 3MB)
Westpac Emergency Cash and Westpac Get Cash Terms and Conditions (PDF 115KB) (PDF 133KB)
Online Banking Terms and Conditions (PDF 354KB)
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.
- 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.
- 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.
- 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.
- 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.
- 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.
BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.
# Purchases Offer: Excludes customers who hold or have held a Westpac Choice account or a Westpac PayWear™ at any time. To receive up to AUD$50 credited to an everyday account, customers must open a Westpac Choice account online or in an Australian Westpac branch between 13/05/19 and 09/07/2019 (inclusive) and must make at least five (5) eligible purchases using their Westpac Debit Mastercard© within 45 days of account opening (‘eligible customer’). PLUS to receive a bonus AUD$10, eligible customers who also order and use their Westpac PayWear Card to make at least one (1) eligible purchase within 45 days of account opening will receive $10 credited to their everyday account. Eligible purchases: include in-store purchases, online purchases, regular card payments, PayPass, and Google Pay transactions. Offer excludes ATM withdrawals. Eligible customers will receive $50 deposited into their account (or if an eligible customer is also eligible for the bonus $10, $60 deposited into their account) within 60 days of account opening following successful identification verification. Offer limited to one deposit per customer and is not available in conjunction with any other offer. Where a joint account is opened, if one of the joint account holders has already received their deposit in respect of another account, then none of the remaining joint account holders will be eligible for the offer in respect of the joint account. Read the Terms and Conditions available at westpac.com.au, including the Westpac PayWear Terms and Conditions for details, including for fees and charges that may apply, before making a decision and consider if it is right for you.
Westpac PayWear is a registered trademark and PayWear is a trademark of Westpac Banking Corporation.
World Mastercard®, Mastercard® and the Mastercard Brand Mark are registered trademarks of, and PayPassTM is a trademark of, Mastercard International Incorporated.
© Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.