Westpac eSaver

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Introductory bonus interest

Why open an eSaver account?

Competitive interest rate on savings
No Account-Keeping Fee ²
Unlimited access via a linked Westpac Choice account (if you don't have one, we'll open one for you)
No minimum deposit or monthly balance
New Westpac eSaver customers receive an introductory fixed bonus rate on top of the standard variable rate for the first 5 months.

Security

Safe Online Banking guarantee

If your Westpac account is compromised as a result of Internet fraud, we guarantee to repay any missing funds, providing you comply with our Online Banking Terms and Conditions³

Protected by the Financial Claims Scheme

Deposits to this account and other eligible Westpac accounts are guaranteed by the Australian Government up to a total of $250,000 under the Financial Claims Scheme⁴

Westpac Protect SMS code

Increase your online banking security by using your mobile to confirm certain transactions via SMS.

Rates
Fees
Overseas fees

Rates

Introductory special rate for the first 5 months
Total introductory variable rate	0.75% p.a.
5 month introductory fixed rate	0.70% p.a.
Standard variable rate	0.05% p.a.

When does the introductory special rate apply?

An introductory fixed bonus rate of 0.70% p.a. applies for the first 5 months, on top of the standard variable rate when you are a new Westpac eSaver customer.

After 5 months, the standard variable interest rate, currently 0.05% 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.

Fees

Standard fees (fees may change)	Westpac eSaver	Westpac Choice
Account-Keeping Fee	$0	$0
Domestic ATM Transactions⁵	$0	$0
Overdrawn Fee	$15	$15
Branch staff assisted withdrawal	$0	$0
Telephone Banking withdrawal (automated)	$0	$0
Telephone Banking withdrawal (non-automated)	$0	$0
Direct debit	$0	$0
Point of Sale (POS) transactions - All transactions conducted at a POS terminal	$0	$0
Online banking (including mobile banking) fees	$0	$0

Overseas fees

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.

Apply online

Open an everyday bank account with your savings account in one click

Give us a call

1300 558 724

8am – 8pm Sydney time

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Interest rates

Tools and calculators

Things you should know

Deposit Accounts for Personal & SMSF customers Terms and Conditions (PDF 1007KB)

Online Banking Terms and Conditions (PDF 236KB)

Personal Telephone Banking Terms and Conditions (PDF 191KB)

Find out what information you need to provide to become a customer (PDF 657KB)

Westpac Debit Mastercard® Terms and Conditions (PDF 3MB)

Before making a decision about any of our products or services, please read all the terms and conditions. Fees and charges apply and may change.

1. Bonus interest: If you have not had a Westpac eSaver account before, an introductory fixed bonus rate of 0.70% p.a. applies for the first 5 months, on top of the standard variable rate. After 5 months, the standard variable interest rate, currently 0.05% p.a. will apply. Existing or previous eSaver account holders are not eligible for this offer. Joint accounts are eligible where the primary account holder has not held an eSaver account before.

2. Westpac everyday account: To open a Westpac eSaver account, you must hold a Westpac everyday account. Fees and charges apply on a Westpac everyday account.

3. Safe Online Banking guarantee: ensures that customers will be reimbursed for any unauthorised transactions provided that the customer has not contributed to the loss and contacted Westpac promptly. Refer to the Westpac Online Banking Terms and Conditions (PDF 236KB) for full details, including when a customer will be liable.

4. Financial Claims Scheme: payments under the FCS are subject to a limit for each depositor. For more information visit www.fcs.gov.au.

5. Non-Westpac Group branded ATMs: may apply an operator fee by the ATM owner for a balance enquiry or cash withdrawal made, which should be disclosed at the time of the transaction on the ATM screen. This fee is debited on the day (or next business day) of the transaction and is itemised separately on your statement.

Online savings account