Westpac eSaver
Earn great interest with our eSaver account, an online savings account with 24/7 access to funds.
Essentials
2.71% p.a. for the first 5 months for new accounts
- 1.46% p.a. Introductory fixed bonus rate for 5 months
- 1.25% p.a. Standard variable base rate
Why open an eSaver account?
- Competitive interest rate on savings
- No monthly service fee1
- Unlimited access via a linked Westpac Choice account
- No minimum deposit or monthly balance
- Safe Online Banking with our security guarantee2
Boost your savings with a bonus
For new accounts, receive an introductory fixed bonus rate on top of the standard variable rate for the first 5 months.
Who is this account for?
- Regularly transfer money into and out of savings
- Do most of the day-to-day banking online
- Already have an eligible Westpac account1 and are trying to save (if you don't have one, we'll open a Westpac Choice account for you)
No monthly service fee1
Unlimited access via a linked Westpac Choice account
No minimum deposit or monthly balance
Safe Online Banking with our security guarantee2
| Introductory special rate for the first 5 months | |
|---|---|
| Total introductory variable rate | 2.71% p.a. |
| 5 month introductory fixed rate | 1.46% p.a. |
| Standard variable rate | 1.25% p.a. |
When does the introductory special rate apply?
An introductory fixed bonus rate of 1.46% p.a. applies for the first 5 months, on top of the standard variable rate when:
- You open a new Westpac eSaver account
- You haven't held a Westpac eSaver account for the last 3 months.
After 5 months, the standard variable interest rate, currently 1.25% p.a. will apply to your eSaver account.
When is interest paid to my eSaver account?
Interest is paid on the last business day of each calendar month.
Balances in your account on or after the last business day won't be included in the interest calculation for that month but will be included in the interest calculation for the following month. Balances include deposits made to your account.
| Standard fees (fees may change) | Amount |
|---|---|
| Monthly service fee | $0 |
| Online Banking (including Mobile Banking) | $0 |
| Telephone Banking withdrawal (automated) | $0 |
| Telephone Banking withdrawal (non-automated) | $5 |
| ATM transactions | N/A |
| Any other transactions | $5 |
| Direct debit | $5 |
| Branch staff assisted withdrawal | $5 |
| Cheque withdrawal | N/A |
| Dishonour of direct debit or cheques written | $9 |
| Account overdrawn fee | $9 |
| Periodical payment not made | $9 |
There are no fees for Online Banking or Automated Telephone Banking transactions between your Westpac eSaver and Westpac accounts held in the same name. To access your money, we recommend you transfer funds to your Westpac transaction account and then make your withdrawal or payment.
Periodical payments , BPAY® and Pay Anyone cannot be made from eSaver.
Things you should know
Deposit Accounts for Personal & SMSF customers - Terms and Conditions (PDF 360KB)
Online Banking Terms and Conditions (PDF 200KB)
Find out what information you need to provide to become a customer (PDF 42KB)
Westpac Debit MasterCard Terms and Conditions (PDF 149KB)
Read the terms and conditions before making a decision and consider whether the product is appropriate for you.
Fees and charges apply
Information valid as at 15/12/2014 and subject to change. Terms and conditions, fees and charges apply.
This information does not take your personal circumstances into consideration, read the terms and conditions available above and decide whether the products and services are appropriate for you.
To qualify for the bonus interest you must not have held a Westpac eSaver account for the last 3 months. After 5 months, the standard variable interest rate, currently 1.25% p.a. will apply to your eSaver account.
1. To hold a Westpac eSaver, customers must hold a Westpac transaction or savings account in the same name. Fees may apply on the other account.
2. If your Westpac account is compromised as a result of Internet fraud we guarantee to refund any missing funds, providing you comply with our Online Banking Terms and Conditions (PDF 200KB).
3. A 3% Westpac 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. Excludes American Express® cards. 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®.
Debit MasterCard holders need to be at least 16 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.
Refer to the Westpac Debit MasterCard® Terms and Conditions for full details of when cardholders may be liable.
World MasterCard®, MasterCard® and the MasterCard brand mark are registered trademarks, and PayPass is a trademark of MasterCard International Incorporated.
BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.