Summary
Before you get started, here’s a quick recap of what you’re applying for:
The Westpac Life account comes with a Westpac Choice everyday account so you can easily transfer money in and out. We'll only open a Choice account if you don't already have one.
To open you'll need to be at least 18 years old with an Australian residential address.
Westpac Life
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Westpac Choice (if you don't already have one)
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Special offer
For 18-40 year olds
Get up to 5.75% p.a. variable interest on your savings:
- When you grow your savings with a Westpac Life account and make 20 eligible purchases with a debit card linked to your Choice account each month
- This is made up of 0.10% p.a. variable base rate + 4.90% p.a. variable bonus for saving each month + 0.75% p.a. 'Spend&Save' bonus for spending 20 times. Applies to the first $150,000 in your Westpac Life savings account. After this amount you’ll earn 5.00% p.a. variable interest*
What kind of account do you need?
Are you already a Westpac customer?
What to have handy
- Your Westpac Online Banking sign in details.
By continuing you agree
To begin, you acknowledge:
- You have read our Privacy Statement which explains how we collect, use and disclose your personal information, including marketing communications which we send to you.
- You have read our Financial Services Guide (PDF 218KB) which provides important information on the financial services and products we offer as a financial services licensee.
By opening the account, you agree:
- To the Deposit Accounts for Personal Customers Terms and Conditions (PDF 687KB) and the Online Banking Terms and Conditions (PDF 814KB) that apply to the products and services you are applying for.
- To us sending you a Debit Mastercard® and linking it to your account, as set out in the Westpac Debit Mastercard Terms and Conditions (PDF 396KB).
- To provide your consents to the actions we may take in processing your application including:
- for us to contact you about this application
- for you to receive communications about your account, as well as account statements and terms and conditions electronically. You may change your communication preferences in Online Banking or by contacting us at any time. If you are not registered for Online Banking, you will receive account statements in paper form.
- To your obligations relating to Anti-Money Laundering and Counter-Terrorism Financing requirements, as well as our other reporting obligations if you are a foreign tax resident.
Ready to get started?
Other options
- Under 18 or applying on behalf of somebody younger? Learn more
What to have handy
By continuing you agree
To begin, you acknowledge:
- You have read our Privacy Statement which explains how we collect, use and disclose your personal information, including marketing communications which we send to you.
- You have read our Financial Services Guide (PDF 218KB) which provides important information on the financial services and products we offer as a financial services licensee.
By opening the account, you agree:
- To the Deposit Accounts for Personal Customers Terms and Conditions (PDF 687KB) and the Online Banking Terms and Conditions (PDF 814KB) that apply to the products and services you are applying for.
- To us sending you a Debit Mastercard® and linking it to your account, as set out in the Westpac Debit Mastercard Terms and Conditions (PDF 396KB).
- To provide your consents to the actions we may take in processing your application including:
- for us to contact you about this application
- for you to receive communications about your account, as well as account statements and terms and conditions electronically. You may change your communication preferences in Online Banking or by contacting us at any time. If you are not registered for Online Banking, you will receive account statements in paper form.
- To your obligations relating to Anti-Money Laundering and Counter-Terrorism Financing requirements, as well as our other reporting obligations if you are a foreign tax resident.
Ready to get started?
Other options
- Under 18 or applying on behalf of somebody younger? Learn more
Are you already a Westpac customer?
What to have handy
- Your Westpac Online Banking sign in details.
- You’ll need to be registered for Westpac Protect SMS Code. We’ll send an SMS Code to both applicants before you open your account.
By continuing you agree
To begin, you acknowledge:
- You have read our Privacy Statement which explains how we collect, use and disclose your personal information, including marketing communications which we send to you.
- You have read our Financial Services Guide (PDF 218KB) which provides important information on the financial services and products we offer as a financial services licensee.
By opening the account, you agree:
- To the Deposit Accounts for Personal Customers Terms and Conditions (PDF 687KB) and the Online Banking Terms and Conditions (PDF 814KB) that apply to the products and services you are applying for.
- To us sending you a Debit Mastercard® and linking it to your account, as set out in the Westpac Debit Mastercard Terms and Conditions (PDF 396KB).
- To provide your consents to the actions we may take in processing your application including:
- for us to contact you about this application
- for you to receive communications about your account, as well as account statements and terms and conditions electronically. You may change your communication preferences in Online Banking or by contacting us at any time. If you are not registered for Online Banking, you will receive account statements in paper form.
- To your obligations relating to Anti-Money Laundering and Counter-Terrorism Financing requirements, as well as our other reporting obligations if you are a foreign tax resident.
- To hold the account in joint names (to open an account in trust you’ll need to visit a branch).
- That you have permission to give us personal information about any joint applicants.
- That both account holders can transact on the account individually, for example, withdraw funds without permission from the other account holder.
Ready to get started?
Other options
- Under 18 or applying on behalf of somebody younger? Learn more
What to have handy
By continuing you agree
To begin, you acknowledge:
- You have read our Privacy Statement which explains how we collect, use and disclose your personal information, including marketing communications which we send to you.
- You have read our Financial Services Guide (PDF 218KB) which provides important information on the financial services and products we offer as a financial services licensee.
By opening the account, you agree:
- To the Deposit Accounts for Personal Customers Terms and Conditions (PDF 687KB) and the Online Banking Terms and Conditions (PDF 814KB) that apply to the products and services you are applying for.
- To us sending you a Debit Mastercard® and linking it to your account, as set out in the Westpac Debit Mastercard Terms and Conditions (PDF 396KB).
- To provide your consents to the actions we may take in processing your application including:
- for us to contact you about this application
- for you to receive communications about your account, as well as account statements and terms and conditions electronically. You may change your communication preferences in Online Banking or by contacting us at any time. If you are not registered for Online Banking, you will receive account statements in paper form.
- To your obligations relating to Anti-Money Laundering and Counter-Terrorism Financing requirements, as well as our other reporting obligations if you are a foreign tax resident.
- To hold the account in joint names (to open an account in trust you’ll need to visit a branch).
- That you have permission to give us personal information about any joint applicants.
- That both account holders can transact on the account individually, for example, withdraw funds without permission from the other account holder.
Ready to get started?
Things you should know
2. 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 ensure the account balance does not fall below $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.
~ 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 ensure the account balance does not fall below $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.
# 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 41, 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.
Spend&Save bonus variable interest:
- Be aged 18-40 with a Westpac Life and Westpac Choice account and linked Debit Mastercard in your name. Joint accounts are not eligible, and only one Spend&Save offer applies per customer.
- If you have multiple Westpac Life accounts, only the earliest opened account is eligible for bonus interest.
- Make 20 eligible purchases with a Debit Mastercard® linked to a Westpac Choice account in your name.
- Eligible purchases must be settled (not pending) by 11:59pm on the second last business day within a month.
- The following transactions are ineligible: ATM transactions, PayID®,BPAY®,EFTPOS cash-out only transactions, direct debits, paying off a credit card account.
- If you have multiple Westpac Choice accounts, eligible debit card purchases linked to all Westpac Choice accounts in your name are counted in the 20 eligible purchases.
- For bonus interest qualification, a month is the period between the last business day of the previous month to the second last day of the month (inclusive). Bonus interest is calculated on the daily balance of your eligible Westpac Life account up to $150,000 and paid into your eligible Westpac Life account on the last business day of the month.
The Spend&Save variable bonus interest will appear on your Life account statement as "INTEREST PAID - PROMOTIONAL". It will also appear in Online Banking and the Westpac App in the Account details section for your Westpac Life account as "Promotional rate".
Offer may be varied or withdrawn at any time in accordance with the Deposit accounts for Personal customers Terms and Conditions. (PDF 749KB)This promotion runs from 9 June 2026 to 30 September 2026.
To be eligible you must:
- 18+ and have not held any transaction account or savings accounts with Westpac in the last 2 years from the date the last transaction or savings account closure.
- Open a new Westpac Choice account AND, either a Westpac Life OR Westpac eSaver. Accounts must be in the same name, activated and ready to use.
- Make eligible purchases totalling at least $50 using the debit card linked to your Westpac Choice account within 15 calendar days of the first account being opened. Transaction(s) must be processed (not pending) by the end of the 15th day.
- Transaction(s) must be customer-initiated and does not include interest payments, direct debits or internal transfers between your Westpac accounts.
- Keep the account open for a minimum of 60 days after you meet all other eligibility criteria.
- Hold the accounts in one name only. These accounts cannot be joint accounts.
If you meet the above:
- You're eligible for a one-time $50 payment.
- The $50 payment will be made to your Westpac Life or Westpac eSaver account within 60 days of you meeting all Terms and Conditions and eligibility criteria.
- If you open more than one Westpac Life or Westpac eSaver account, the $50 payment will only be made once into the first savings account opened and activated.
- This promotion may be varied or withdrawn at any time. It is not available in conjunction with any other offer unless otherwise stated.