Everyday banking and savings account

Having your savings and everyday bank account in one place can be an easy way to save while still giving you access to your money when you need it.
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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.

Secure 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

For 18-29-year olds

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

This is made up of 0.20% p.a. variable base rate + 0.20% p.a. variable bonus for saving each month + 2.60% p.a. Spend&Save bonus for spending 5 times. Applies to the first $30,000 in your Westpac Life savings account. After this amount you’ll earn 0.40% p.a. variable interest.*

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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.
 

Apple Pay is here

Apple Pay offers a fast and secure way to pay in-store and online, using your favourite Apple device.

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Benefits

Can’t find your card?

Don’t panic. You can temporarily lock it in seconds with card on hold while you search9.

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.

Through Online Banking you can set up personalised savings goals, track your progress, and get savings calculations which could help you stay on track.

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  • Classic appClassic 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.

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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.

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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 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 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 Withdrawal Fee from a non-Global Alliance Partner ATM $5
Overseas Withdrawal Fee from a Global Alliance Partner ATM $0
 Foreign Transaction Fee Depends on transaction type - see below

Foreign Transaction Fee

The 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.

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Open an everyday bank account and savings account

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Give us a call

1300 558 724

8am - 8pm, 7 days a week

Find a branch

Visit your local branch

Things you should know
Deposit Accounts for Personal & SMSF customers Terms and Conditions (PDF 450KB) 
Online Banking Terms and Conditions (PDF 341KB) 
Personal Telephone Banking Terms and Conditions (PDF 104KB) 
Find out what information you need to provide to become a customer (PDF 657KB) 
Westpac Debit Mastercard Terms and Conditions (PDF 228KB)
Westpac Emergency Cash and Westpac Get Cash Terms and Conditions (PDF 91KB)

 

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, 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. 

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. 
 
3. 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. 

4. Savings Goals: Both an account holder and an authorised user can use the Savings Goals feature, including to view, add, edit and delete the savings goals on a Westpac Life 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.   
 
6.  Global ATM: A 3% Foreign Transaction Fee applies to overseas debit or credit card withdrawals. A 2% cash advance fee applies to credit card withdrawals where the "Credit" option is selected. A list of Global Alliance members is available. It is important to know that the functionality to withdraw money from a linked Westpac account via Credit Card is not 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®.    
 
7.  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.     
 
8. 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.    
 
9.  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.   

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.   

 

* 3% p.a. variable interest: earn up to 3% p.a. variable interest when you meet the criteria for both Westpac Life variable interest and Spend&Save Bonus variable interest. 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.

 

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.  

 

Spend&Save bonus variable interest: to earn the bonus variable interest, you must make 5 eligible purchases with the debit card linked to your Choice account and have these settled (not pending) within a calendar month. The following transactions are ineligible: ATM transactions, BPAY, EFTPOS cash out only transactions and purchases settled to a credit card account. Interest is calculated on the daily balance of your Westpac Life account(s) up to $30,000 and paid to your Westpac Life by the 20th day of the next month. If the account is closed, the interest payable will be paid into an alternate open Westpac transaction or savings account in your name by the end of the next month. 

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 Terms and Conditions apply. (PDF 450KB)

Read the Apple Pay Terms and Conditions (PDF 79KB) 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.