Personal Accounts Terms & Conditions

Products currently for sale

Find the current T&Cs and recent changes.

Personal Accounts T&Cs

Select below to find the current T&Cs and recent changes.

Westpac Choice, Westpac 55+ and retired, Westpac Bump Savings, Westpac Life and Westpac eSaver
 

Summary of changes, effective 1 August 2025

Section Reference Description of change

Section 9 – Fees and Charges Tables 

 


Other bank charges

Customers are referred to our Online Banking and/or Corporate Online terms and conditions for fees associated with Overseas Telegraphic Transfer (Outward)/International Payments transactions made via these channels.

 

Minor changes are made to some fee names listed in this section to make them consistent with the applicable Online Banking terms and conditions. 
Section 17 - Meaning of Words​

A definition for Corporate Online is added: ‘means the Westpac online banking platform where corporate and business customers can view, manage and transact on their accounts. The Corporate Online Terms and Conditions and Fees and Information Sheet are located at westpac.com.au’

Summary of changes, effective 26 August 2025

Section Reference Description of change

Section 4 - Understanding debit cards​
 

Rules about your Debit Mastercard ®   and Handycard and  Daily limits.

On page 36 second paragraph, increase daily cash withdrawal limit to $2,000 for Debit Mastercard.​
 

Page 36, Update table ‘Transaction Type’, for transactions:​

  • Cash withdrawals through ATM​
  • Cash-out at a POS terminal​
  • Bank@Post withdrawal​

Debit Mastercard limit to increase to $2,000.

Summary of changes, took effect 30 September 2025

Section Reference Description of change
Section 1 - Summary of Features
  • For Westpac Choice ‘Can I pay bills using BPAY®?’ removed reference to authorised signatories being excluded from making BPAY Payments via Telephone Banking.
Section 2 - Your guide to opening accounts
  • Under ‘Accounts for children’, clarified authorised signatories can use staff-assisted Telephone Banking. 

Summary of changes, effective 30 September 2025

Section Reference Description of change
Section 6 - How and when we pay interest​

Westpac 55+ and Retired: ​

Increasing the frequency of credit interest paid to 55+ and Retired account holders from quarterly to monthly.

Summary of changes, effective 10 October 2025

Section Reference Description of change
Section 2 – Your guide to opening accounts 
On page 18, the information has been uplifted to allow account holders aged 14 and above to change their ‘View & Transact’ access via Online Banking.
Section 2 – Your guide to opening accounts

On page 19, ‘in branch’ has been removed from the seventh bullet point.

Term Deposit & Farm Management Deposit
 

 

Summary of changes are effective from 28 November 2025

T&Cs (Section Reference) Change Description

Section A. Features and Benefits

Westpac Term Deposit, Westpac Farm Management Deposit and Westpac Controlled Money and Separate Trust Term Deposit

How often is interest paid? from “Monthly, yearly or at Maturity (where the term is 12 months or less) or at the end of any notice period.” to “Monthly, or (where the term is less than 12 months) at Maturity, or at the end of any notice period. For terms 12 months or greater, interest can be paid monthly, half-yearly or yearly. Any additional applicable interest is paid at Maturity.”

Section B. Your Account

Section 9. Interest rates that apply to your Account.

9.2 How the interest you earn is calculated and paid.

 Update the second paragraph of 9.2 to “Interest is calculated daily and can be paid either monthly, or (where the term is less than 12 months) at Maturity, or at the end of any notice period. For terms 12 months or greater, interest can be paid monthly, half-yearly or yearly. Any additional applicable interest is paid at Maturity.”

https://www.westpac.com.au/personal-banking/bank-accounts/savings-accounts/spend-save-ntb

Products no longer for sale

Find the current T&Cs and recent changes.

Deposit accounts for Personal Customers (No longer available for sale) Terms & Conditions

Westpac Passbook 55+ and Retired​, Passbook​, Personal Cheque​ and Premium Saver

 

Summary of changes, effective 1 August 2025

Section Reference Description of change
Other Bank Charges

Customers are referred to our Online Banking and/or Corporate Online terms and conditions for fees associated with Overseas Telegraphic Transfer (Outward)/International Payments transactions made via these channels. ​

Minor changes are made to some fee names listed in this section to make them consistent with the applicable Online Banking terms and conditions.

Summary of changes, effective 26 August 2025

Section Reference Description of change

Section - A guide to using your card
 

Section 24.4 - Rules about your Debit Mastercard and Handycard, and Daily limits.

On page 43 second paragraph, Increase daily cash withdrawal limit to $2,000 for Debit Mastercard.​
 

Update table ‘Transaction Type’, for transactions:​

  • Cash withdrawals through ATM​
  • Cash-out at a POS terminal​
  • Bank@Post withdrawal​

Debit Mastercard limit to increase to $2,000.

Summary of changes, effective 30 September 2025

Section Reference Description of change

Summary of Features and Benefits ​

Transaction Accounts. How often is interest paid?

 

Section 7 - Interest rates that may apply on your account. ​

7.3 Interest rate types.

Westpac Passbook 55+ and Retired: ​

Increasing the frequency of credit interest paid to 55+ and Retired account holders from quarterly to monthly.

Westpac DIY Super Working and Westpac DIY Super Savings