Westpac 55+ and Retired

Our Westpac 55+ and Retired account is a flexible everyday account designed for selected pensioners and retirees.

$0 monthly service fee, other fees may apply. 8 free withdrawals per month before withdrawal fees apply.
  •  

    Westpac 55+ and Retired

    It only takes 5 - 10 minutes

    Open account

Essentials

  • For retirees aged 55 or over and those with concession cards receiving an Australian pension 
  • 8 free withdrawals per calendar month across Online Banking, Telephone Banking, Westpac, St.George, BankSA and Bank of Melbourne ATMs, eftpos and branches (daily transaction limits apply) 
  • 12 free Telephone Banking enquiries per month
  • One Westpac 55+ and Retired account per customer
 

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 worldwide.

  •  

    Westpac 55+ and Retired

    It only takes 5 - 10 minutes

    Open account
  •  

    1300 362 742

    8am-8pm, 7 days a week

  •  

    Visit us

     

    Find a branch
Things you should know
  • 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®.

    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.

    Who can apply for a Debit MasterCard?

    Debit MasterCard holders need to be at least 16 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.

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

    1.  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 at westpac.com.au/unstoppableyou. Excludes American Express® cards. 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®.
    2. St.George Bank, BankSA and Bank of Melbourne are divisions of Westpac Banking Corporation ABN 33 007 457 141.

Features

Multiple ways to access your bank account and to your money;

  • Online Banking
  • Mobile Banking
  • Telephone Banking
  • Debit MasterCard or Handycard
  • BPAY®
  • Branch
  • Cheque
  • ATMs
  • Get Cash from Westpac ATMs without a debit card
  • Tap and pay with a compatible Samsung mobile

Access your money at over 3,000 Westpac, St George, Bank SA and Bank of Melbourne ATMS with no withdrawal Fee.

Access your money through Global ATM alliance with no ATM withdrawal fee1 at more than 50,000  ATMs worldwide.

Link a Westpac Debit MasterCard

A Debit MasterCard linked to your Westpac 55+ and Retired account will let you shop online, over the phone in Australia and overseas using your own money. You can also withdraw cash at millions of locations worldwide where MasterCard is accepted. Learn more about Debit MasterCard.
 
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.
  •  

    Westpac 55+ and Retired

    It only takes 5 - 10 minutes

    Open account
  •  

    1300 362 742

    8am-8pm, 7 days a week

  •  

    Visit us

     

    Find a branch
Things you should know
  • 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®.

    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.

    Who can apply for a Debit MasterCard?

    Debit MasterCard holders need to be at least 16 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.

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

  • BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.

    1.  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 at westpac.com.au/unstoppableyou. Excludes American Express® cards. 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®.
    2. St.George Bank, BankSA and Bank of Melbourne are divisions of Westpac Banking Corporation ABN 33 007 457 141.

Fees

Standard fees (fees may change)Amount
Account service fee  $0
Free monthly withdrawal allowance8
Free monthly Telephone Banking enquiries12
Transaction fees (charge per transaction when free monthly withdrawal allowance is exceeded) 
Online Banking withdrawal $0.25
Telephone Banking (automated)$0.40
Telephone Banking (staff assisted)$2.50
POS$0.60
Westpac, St.George, BankSA, Bank of Melbourne ATM withdrawal$0.60
Cheques withdrawal$1
Direct debit$0.25
Branch staff assisted withdrawal$2.50
Periodical payments (Additional fees apply for periodical payments made by bank cheque and international periodical payments)$0.25
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
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
Dishonour of cheques written or direct debits$9 
Periodical payment not made fee $9 
Account overdrawn fee $9 
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.

  •  

    Westpac 55+ and Retired

    It only takes 5 - 10 minutes

    Open account
  •  

    1300 362 742

    8am-8pm, 7 days a week

  •  

    Visit us

     

    Find a branch
Things you should know
    1.  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 at westpac.com.au/unstoppableyou. Excludes American Express® cards. 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®.
    2. St.George Bank, BankSA and Bank of Melbourne are divisions of Westpac Banking Corporation ABN 33 007 457 141.

Rates

Interest rates p.a.

Interest is calculated daily on your account balance.

AmountRate
0 < $2,0000.50%
$2,000 < $41,0002.00%
$41,000+3.50%
  •  

    Westpac 55+ and Retired

    It only takes 5 - 10 minutes

    Open account
  •  

    1300 362 742

    8am-8pm, 7 days a week

  •  

    Visit us

     

    Find a branch