Westpac eSaver Online Savings Account
Westpac eSaver makes saving a breeze. You get an introductory interest rate and online access to your money whenever you need.
Boost your savings and team up your everyday banking with an eSaver account
Earn up to
4.45% P.A.
Total variable interest rate
For the first 5 months with a new Westpac eSaver savings account opened online. Total introductory variable interest rate is a combination of:
- 1.00% p.a. Standard variable rate (after 5 months or existing customers) plus 0.45% p.a. Online Bonus rate for opening online.
- 3.00% p.a. 5-month introductory fixed rate.
You could earn
$50
Cashback on a Choice account
Don't have a Westpac Choice account? Open one by 31 March 2026 and you could get $50:
- Add your Debit Mastercard® to your mobile wallet. Then, within 15 days of opening your account, spend a total of $50 or more. Payments must be in-person and contactless.
- Must be 18 years or older – T&Cs apply.
- Sole applicants who have never held an eSaver account before
- Joint account holders where the primary account holder has never had an eSaver account
- The first 5 months, on top of the standard variable rate. After 5 months, the standard variable interest rate will apply.
| Interest is calculated daily on your account balance up to the second last business day of the month. Interest is paid into the account on the last business day of the month. |
The Online bonus rate is available for sole applicants only:
- From 17/11/2023 for a limited time only
- For new eSaver accounts opened online
- By those who have never held an eSaver account before.
This promotion runs from 30 June 2025 to 31 March 2026.
To be eligible you must:
- Be 18 years of age or older
- Not have held a transaction account with Westpac in the last 2 years (applies to both account holders for joint accounts)
- Open a new Westpac Choice account (excludes Concession account) with a linked Westpac Debit Mastercard
- Add your new Westpac Debit Mastercard to a mobile wallet. Then, within 15 days of opening your new account use it to make in-person contactless payments that:
- Total $50 or more
- Are settled (not pending).
- Keep the account open for a minimum of 60 days after your eligible contactless payment.
Transactions that are not eligible:
- Using the physical card in-store, online or in-app
- ATM transactions
- BPAY
- EFTPOS cash out only transactions
- Gambling transactions
- Transactions made by credit card.
If you meet the above:
- You're eligible for a one-time $50 payment, regardless of the number of accounts you hold
- The $50 payment will be made to your Westpac Choice account within 60 days of you meeting all Terms and Conditions and eligibility criteria.
- If you open more than one Westpac Choice account, the $50 cashback will be made to one account only. It will be to the first one opened and active, whether a sole or joint account.
This promotion may be varied or withdrawn at any time. It is available in conjunction with any other offer.
Why open an eSaver account?
Introductory rate
Fixed rate for the first 5 months for new eSaver customers.
$0 monthly fee
No Account-Keeping Fees (other fees may apply).
Unlimited access
Simply link your eSaver account to a Westpac everyday account.
Online account
With no minimum deposit or monthly balance requirements.
Save time, apply online
Smart Budgeting and savings tools
LAYERS OF SCAM AND FRAUD PROTECTION
Account fees
To open a Westpac eSaver savings account, you must:
- Hold a Westpac everyday account in the same name
- Be registered for Online and Telephone Banking.
Fees and charges may apply on the everyday account, including a $5 monthly Account-Keeping Fee.
| Standard fees (fees may change) | Amount |
|---|---|
| Account-Keeping Fee (monthly) | $0 |
| Online Banking withdrawal (including Mobile Banking) | $0 |
| Telephone Banking withdrawal (self service) | $0 |
| Telephone Banking withdrawal (staff assisted) | $0 |
| Branch staff assisted withdrawal | $0 |
| Overdrawn Fee | $15 |
| Direct debit | $0 |
Debit cards are not available for new eSaver accounts
For old accounts, that have a card, fees are not charged for:
- Point of Sale (POS) transactions
- ATM cash withdrawals in Australia (ATM providers may charge a fee – watch out for that!) .
To open a Westpac eSaver savings account, you must:
- Hold a Westpac everyday account in the same name
- Be registered for Online and Telephone Banking.
If you decide to open a Westpac Choice transaction account, the following fees will apply:
| Standard fees (fees may change) | Amount |
|---|---|
| Account-Keeping Fee (monthly) | $5 (criteria for fee waiver below) |
| Online Banking withdrawal (including Mobile Banking) | $0 |
| Telephone Banking withdrawal (self service) | $0 |
| Telephone Banking withdrawal (staff assisted) | $0 |
| Branch staff assisted withdrawal | $0 |
| Direct Debit | $0 |
| Point of Sale (POS) transactions | $0 |
| ATM cash withdrawals in Australia (ATM providers may charge a fee – watch out for that!) | $0 |
| Overdrawn Fee (for more information: Overdraw Preference Feature | $15 |
| Overseas Withdrawal Fee from a Global Alliance Partner ATM (for more information on Global Alliance Partners: Accessing your accounts overseas | $0 |
| Overseas Withdrawal Fee from a non-Global Alliance Partner ATM | $5 |
| Transactions made in foreign currency, and the merchant or financial institution is located outside Australia | 3% of the AUD transaction amount |
| Transactions made in foreign currency, and the merchant or financial institution is located in Australia | 2.2% of the AUD transaction amount |
| Unarranged Lending Rate (ULR) is a debit interest rate charged to a transaction account if it becomes overdrawn without arrangement | 15.01% p.a. |
The monthly fee is waived for:
- Customers that deposit at least $2,000 each month
- Customers under the age of 30 or full-time tertiary students
- Individuals who hold a Concession or Health Care card, or receive an eligible Australian Government benefit payment
- New to Australia or expatriate customers (for the first 12 months)
- Customers that open a new Westpac Choice account online (for the first 12 months).
Customers aged 30 to 34 will be refunded the Account-Keeping Fee within 5 business days of the fee being charged.
Open a new Westpac Choice account online between 1 February 2024 and 30 September 2026 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.
Other fees and charges may apply. Please refer to the Terms and Conditions (PDF 643KB)
Frequently asked questions
Interest is paid to your account on the last business day of each month.
Balances, including deposits made on or after the last business day of the month, won't count towards that month's interest but will count for the next month's interest.
You’ll need an everyday account to open a Westpac Savings account. By selecting the OPEN NOW button, we'll open for you a:
- Westpac eSaver account
- Westpac Choice account (if you don't already have one).
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.
*This claim is based on The Forrester Digital Experience Review™ of 4 Australian mobile banking apps in Q3 2025. Future findings are subject to change. Forrester does not endorse any company or brand, nor their products or services, nor advise anyone to select them based on this review. If you want to learn more, go to the Forrester website.
Protected by the Financial Claims Scheme (FCS): If you have a Westpac deposit account, in certain circumstances you may be entitled to a payment under the FCS. Payments under the FCS are limited for each customer. You can find out more information from the APRA website at www.fcs.gov.au.
Online Banking Security Guarantee: If your Westpac account is compromised by online banking fraud, we promise to return any missing funds. This guarantee only applies if you’ve followed our Online Banking Terms and Conditions. This includes: 1. Keeping your sign-in details, including passwords or Westpac Protect™ Security codes, private, 2. Not contributing to the loss, and 3. Telling us right away if you think there’s an unauthorised transaction or fraud on your account.
Fraud Money Back Guarantee: Shop securely using your Debit Mastercard or Credit Card, backed by 24/7 fraud monitoring and our Fraud Money Back Guarantee. Westpac promises to return any missing funds to you if you've not contributed to the loss and contact Westpac right away. Check your card’s terms and conditions for full details.
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