Important notice about our personal credit cards
Changes to Westpac Low Rate credit card fee
From 29 June 2026, we’re changing how the card fee on the Westpac Low Rate credit card is charged. Instead of an annual card fee of $59, we’re moving to a monthly card fee of $7.
If you apply before 29 June 2026, the annual fee of $59 will continue to apply in your first year, however, it will revert to the monthly fee on your next card fee anniversary (which is 12 months after the annual fee is first charged to your card).
Changes to Cash Advance Fee and Missed Payment Fee
We’re increasing the Cash Advance Fee and Missed Payment Fee on Westpac personal credit cards.
| Effective from | Fee name | Current fee | New fee |
|---|---|---|---|
| 30 April 2026 |
Cash Advance Fee | 3% | 3.5% |
| 30 April 2026 | Missed Payment Fee | $15 | $20 |
These changes do not apply to credit cards that are not subject to any of these fees, or for some active arrangements (such as some hardship arrangements).
Frequently asked questions
Cash advance fees are charged when you withdraw cash at an ATM using your credit card. You’ll also be charged these fees when you make cash equivalent transactions, such as gambling, buying lottery tickets or purchasing foreign currency. As well as a cash advance fee, the interest rate on cash advances is almost always higher than the regular purchase interest rate, and there are no interest free days when it comes to withdrawing cash on your credit card. To minimise cash advance fees, try to avoid using your credit card to withdraw cash by using alternative sources. This may mean having an easily accessible emergency savings fund available.
Missed payment fees, also known as late payment fees, are charged when you fail to make at least the minimum payment by the due date on your statement. Not only are these fees an additional cost, but they can also impact your credit score. To avoid missed payment fees, you can set up reminders to make payments on time or set up automatic payments to pay off your account every month. To avoid being charged the missed payment fee, the fixed dollar amount or percentage of the closing balance must be more than your minimum payment due.
No. The Westpac Lite Card and Flex Card are excluded as Cash Advances aren’t permitted on these products and they have a $0 Missed Payment Fee.
Yes. The Cash Advance Fee and Missed Payment Fee increases are effective from 30 April 2026.
The fee increases may impact some credit cards no longer for sale.
If you apply before 29 June 2026, your card will be set up with the annual card fee. You'll transition to the monthly fee at your next card fee anniversary (up to 12 months later).
Customers with home loan packages will be charged the $7 monthly fee when the package ends, is closed, or the card is removed from the package.
Customers on a promotional fee offer will be charged the monthly fee when the promotional offer ends.
If a monthly fee isn’t right for you, there are other credit cards available charging annual fees.