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Essentials

  • For retirees who are aged 55 or over. There's a limit of one Westpac 55+ and Retired account per customer
  • Unlimited access across Online Banking, Telephone Banking, Westpac, St.George, BankSA and Bank of Melbourne ATMs and branches (daily transaction limits apply)
  • Earn split interest on your account balance

Did you know?

Adding a Debit Mastercard® to your 55+ and Retired Account will allow you to access your own money to make purchases overseas, online and over the phone - at 30 million locations worldwide1.

$0 Monthly service fee

$0 Monthly service fee. Other fees may apply2

Card on hold

Can’t find your card? Don’t panic, you can temporarily lock it in seconds with Card on hold while you search3

Fraud Money Back Guarantee

Shop securely with your debit card. We’ve got your back with 24/7 fraud monitoring and our Fraud Money Back Guarantee4


Features

Multiple ways to access your bank account and to your money

  • Online Banking
  • Mobile Banking
  • Telephone Banking
  • Debit Mastercard or Handycard
  • Bank@Post
  • Branch
  • ATMs
  • Withdraw cash using your phone from any Westpac, St.George, Bank of Melbourne or BankSA ATM5

Access your money

No ATM withdrawal fee at any major bank ATM in Australia and over 50,000 ATMs around the world via the Global ATM Alliance and partner ATMs (other fees may apply)2
 

When your Westpac 55+ and Retired account is open

  • Register for Westpac Online Banking and/or Telephone Banking for more ways to access your money
  • Choose eStatements for convenient online access to 7 years of account activity.
Standard fees (fees may change) Amount
Online Banking withdrawal $0
Telephone Banking (automated) $0
Telephone Banking (staff assisted) $0
POS $0
Westpac, St.George, BankSA, Bank of Melbourne ATM withdrawal $0
Cheques withdrawal $0
Direct debit $0
Branch staff assisted withdrawal $0
Periodical payments (Additional fees apply for periodical payments made by bank cheque and international periodical payments) $0
eStatements $0
Non-Westpac, St.George, BankSA, Bank of Melbourne ATMs within Australia cash withdrawal or balance enquiry - however the ATM owner may apply an ATM operator fee  $0
Dishonour of cheques written or direct debits $5
Periodical payment not made fee $5
Account overdrawn fee $15
Standard fees (fees may change) Amount
Overseas ATM cash withdrawal from a non-Global Alliance Partner ATM $5
Overseas ATM cash withdrawal from a Global Alliance Partner ATM $0
Overseas ATM balance enquiry from a non-Global Alliance Partner ATM $0
Overseas ATM balance enquiry from a Global Alliance Partner ATM $0
Westpac Foreign Transaction Fee Depends on transaction type - see below

More on fee free withdrawals

We date each withdrawal when it's debited to your account which may not be the date you actually make it.

Westpac Foreign Transaction Fee

The Westpac 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.

Interest rates p.a.

Interest is calculated daily on your account balance.

Amount Rate
Balances from $0 to less than $9,999 0.05% p.a.
On the part of the balance from $9,999 to less than $49,999 0.05% p.a.
On the part balance from $49,999 to less than $249,999 0.60% p.a.
On the part of the balance from $249,999 and over 0.80% p.a.


Other fees and charges may apply. Please refer to the Terms and Conditions (PDF 1MB)

Things you should know

Deposit Accounts for Personal & SMSF customers Terms and Conditions (PDF 1MB)

Westpac Debit Mastercard® Terms and Conditions (PDF 298KB)

Westpac Emergency Cash and Westpac cardless cash Terms and Conditions (PDF 91KB)

Online Banking Terms and Conditions (PDF 313KB)

Find out what information you need to provide to become a customer (PDF 768KB)


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.


 

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®.

1. Debit Mastercard: You need to be at least 14 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.
 

2. 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. 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®.


3. Card on hold: Available on personal credit and Mastercard® debit cards only. Cards to which a temporary lock can be applied will be listed when you sign in to Mobile Banking or Online Banking and visit Lock a card temporarily under Cards services.


4. Westpac Fraud Money Back Guarantee: Customers will be reimbursed for any unauthorised transactions provided that the customer has not contributed to the loss and contacted Westpac promptly.


5. Cardless cash is available on eligible Westpac transaction accounts with a linked debit card. Cardless cash limit of 3 withdrawals per day applies, subject to $500 daily withdrawal limit and $1,000 weekly withdrawal limit. Only available at Westpac Group ATMs in Australia. To access cardless cash on your mobile you must be registered to use Westpac Online Banking and download the Westpac Mobile Banking App.
 

St.George Bank, BankSA and Bank of Melbourne are divisions of Westpac Banking Corporation ABN 33 007 457 141.


Mastercard® and the Mastercard Brand Mark are registered trademarks of Mastercard International Incorporated.