Westpac 55+ and Retired
- 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.
Apple Pay offers a fast and secure way to pay in-store and online, using your favourite Apple device
$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
Multiple ways to access your bank account and to your money
- Online Banking
- Mobile Banking
- Telephone Banking
- Debit Mastercard or Handycard
- 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
|Standard fees (fees may change)||Amount|
|ATM cash withdrawals in Australia (ATM providers may charge a fee – watch out for that!)||$0|
|Account overdrawn fee||$15|
|Overseas ATM cash withdrawal from a Global Alliance Partner ATM (for more information on Global Alliance Partners see Accessing your accounts overseas)||$0|
|Overseas ATM cash withdrawal 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|
Interest rates p.a.
Interest is calculated daily on your account balance.
|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||0.35% p.a.|
|On the part of the balance from $249,999 and over||0.55% p.a.|
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.
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 Available on eligible Westpac transaction accounts with a linked debit card. Get 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. You’ll also need the Westpac Mobile Banking app (version 6.1 or above) installed on your iPhone.
Read the before making a decision and consider if it is right for you. To use Apple Pay you will need an eligible card and a compatible device with a supported operating system. See our Apple Pay FAQs for more information. Apple, the Apple logo, Apple Pay, Apple Watch and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.
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.