Personal Accounts Terms & Conditions

• Parental Control is removed when all authorised signatories’ third party authorities to the ​account are cancelled. A signatory’s authority can be cancelled by the account holder if they ​are 12 years or older. An authorised signatory can also cancel their own authority, except ​when the account holder is under 12 and they are the only authorised signatory on the ​account.

• Parental Control is also automatically removed when the account is closed or converted to ​a Westpac Life account when the account holder turns 18 years old. In this instance, the ​account holder will automatically have full access to their account and any signatory’s access ​will be removed. However, the signatory will remain on the Life account if we reasonably consider it appropriate in the circumstances. ​

All about accounts​

1. Summary of Features​

Westpac Choice ​

The account keeping fee is waived for customers aged 18 - 40 years of age. For joint accounts, the fee waiver applies until the youngest account holder turns 41. The fee waiver will be removed in the month after the youngest account holder turns 41. 

All about accounts​

2. Your guide to opening accounts​

Understanding Fees and Charges ​

9. Fees and charges tables​

Section 3 – Using your accounts

Updated Who is this for? For Westpac Controlled Money and Separate Trust Term Deposit to “Relationship managed customers who require a specific type of account to hold trust money to comply with regulatory obligations.​

You should contact your Relationship Manager for further information.”

Section B. Your Account.

Clause 10.2 Restrictions on your Account.

Updated to explain what happens when an Account Holder has passed away and there are maturity instructions to withdraw or disburse funds. In these circumstances, a restriction will be placed on the Term Deposit. While the restriction applies, the Term Deposit will be held on the ‘On Demand’ interest rate from Maturity until valid authority is received to close the account.

Updated to clarify when a restriction can be lifted for an Account Holder in receivership.

Debit Mastercard T&Cs for personal customers​

Section – Your Card, Disputed transactions​

Debit Mastercard T&Cs for personal customers​

Section – Your Card, Reversing a transaction​

Updated to include time limit for chargeback rights under the applicable card scheme rules (Mastercard: within 120 days of the transaction).​

Added card scheme rules time limit for requesting a chargeback claim. Removed wording 'within 30 days after the date of the statement on which the transaction is recorded'​

1. Summary of Features​

Will I get regular statements?

See the ‘Your statements’ section for more details.

4. Your Statements

Electronic statements.

Statements will generally be provided electronically (via Online Banking with email notification) unless you opt out. Statements may be deferred where there is no account activity, but will be provided at least every six months. You can change your statement preferences at any time via Online Banking, in branch or by calling us.

4. Your Statements

Things to remember about statements.

Currently, its states you must notify us within three months of receiving your statement of account to assist in any claim you may need to make regarding any lack of authority, including forgery, or any other discrepancy.

This will be amended to ‘you must notify us as soon as possible’.