WESTPAC 55+ AND RETIRED
The best of both worlds for retirees 55 and over. An everyday account with a debit card that gives you interest like a savings account.
Interest rates
Earn up to:
2.00% P.A. Maximum variable interest rate |
0.05% P.A. Minimum variable interest rate |
Variable interest rate is calculated daily on your account balance:
| On the part of the balance up to $9,999 | 0.05% p.a. |
| On the part of the balance above $9,999 to $49,999 | 1.35% p.a. |
| On the part of the balance above $49,999 to $249,999 | 1.70% p.a. |
| On the part of the balance above $249,999 and over | 2.00% p.a. |
Earn interest on your account balance with no monthly fees
Payments your way
Use your Debit Mastercard® for fast, secure payments online and in-store.
Lock your card
Can’t find your card? Don’t panic. Temporarily lock it in seconds while you search.
Instant Digital Card®
Don't wait for your physical card to arrive. Use the digital version in the Westpac App.
Westpac App
Anytime, anywhere banking. It’s an easy, secure and convenient way to bank.
Smart Budgeting and savings tools
LAYERS OF SCAM AND FRAUD PROTECTION
Save time, apply online
Account fees
| Standard fees (fees may change) | Amount |
|---|---|
| Account-Keeping Fee (monthly) | $0 |
| Standard fees (fees may change) | Amount |
|---|---|
| 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 |
| Unarranged Lending Rate (ULR) is a debit interest rate charged to a transaction account if it becomes overdrawn without arrangement | 15.01% p.a. |
| 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 |
Other fees and charges may apply. Please refer to the Terms and Conditions (PDF 712KB)
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.
*Claim based on "The Forrester Digital Experience Review™: Australian Mobile Banking Apps, Q4 2024" an evaluation of five Australian Banks.
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.
PayID® is a registered trademark of NPP Australia Limited and any use of its marks by Westpac is under license.