Online savings account
Why open an eSaver account?
Simply link your eSaver account to a Westpac everyday account for:
- Introductory fixed rate for the first 5 months for new eSaver customers
- No Account-keeping fees on the eSaver account (other fees may apply)
- Unlimited access via your linked everyday account
- No minimum deposit or monthly balance.
Interest rates
For new eSaver customers only. Total introductory variable rate for the first 5 months:
4.75% P.A. Online application |
4.40% P.A. In-branch or staff assisted applications |
The total introductory variable rate is a combination of:
| Standard variable rate (after 5 months or existing customers) | 1.00% p.a. |
| 5-month introductory fixed rate | 3.40% p.a. |
| Online bonus rate | 0.35% p.a. |
The 5-month introductory rate applies for:
- Sole applicants who have never held an eSaver account before
- Joint account holders where the primary account holder has never had an eSaver account
- The first 5 months, on top of the standard variable rate. After 5 months, the standard variable interest rate will apply.
The Online bonus rate is available for sole applicants only:
- From 17/11/2023 for a limited time only
- For new eSaver accounts opened online
- By those who have never held an eSaver account before.
Open your account online
In just minutes you can open online your:
- Westpac eSaver savings account
- A linked Westpac Choice account (if you don't already have one).
By opening your account online, you could also be eligible for the Online bonus rate.
Your personal details:
- Name and date of birth
- Australian home address
- Mobile number
Two forms of ID:
- Australian birth certificate
- Australian driver licence
- Passport
- Medicare card
Get your ID verified instantly online, without going into a branch.
If you're an Aboriginal or Torres Strait Islander and don't have any of the required forms of identification, please call our Indigenous Call Centre on 1800 230 144 Monday to Friday 9am - 6.30pm ACST or visit your nearest branch.
Get the Westpac App for even easier banking
View and transfer funds fast
Quick Balance lets you view balances and transfer money for up to three main accounts without signing in.
Manage your cards in one place
Misplaced your debit card? Temporarily lock it while you’re looking, order a new one, or change your PIN, all in the app’s convenient Cards Hub.
Get sorted with in-app budget tools
Track your month-to-month Cash flow with the in-app budget tools. Spot areas where you could save by sorting your spending into Categories.
Account fees
To open a Westpac eSaver savings account, you must:
- Hold a Westpac everyday account in the same name
- Be registered for Online and Telephone Banking.
Fees and charges may apply on the everyday account, including a $5 monthly account-keeping fee.
| Standard fees (fees may change) | Amount |
|---|---|
| Account-Keeping Fee (monthly) | $0 |
| Online Banking withdrawal (including Mobile Banking) | $0 |
| Telephone Banking withdrawal (self service) | $0 |
| Telephone Banking withdrawal (staff assisted) | $0 |
| Branch staff assisted withdrawal | $0 |
| Overdrawn Fee | $15 |
| Direct debit | $0 |
Debit cards are not available for new eSaver accounts
For old accounts, that have a card, fees are not charged for:
- Point of Sale (POS) transactions
- ATM cash withdrawals in Australia (ATM providers may charge a fee – watch out for that!) .
Other fees and charges may apply. Please refer to the Terms and Conditions (PDF 712KB)
Safe and secure savings
- Online Banking Security Guarantee: If your Westpac account is compromised by online banking fraud, we promise to return any missing funds. This guarantee only applies if you’ve followed our Online Banking Terms and Conditions. This includes: 1. Keeping your sign-in details, including passwords or Westpac Protect™ Security codes, private, 2. Not contributing to the loss, and 3. Telling us right away if you think there’s an unauthorised transaction or fraud on your account.
- Westpac Protect™ Security Code: Keep your Online Banking safe with a Security Code when using the Westpac App or your Online Banking service. This Security Code confirms that it's you transacting or making changes to your profile.
- Protected by the Financial Claims Scheme (FCS): If you have a Westpac deposit account, in certain circumstances you may be entitled to a payment under the FCS. Payments under the FCS are limited for each customer. You can find out more information from the APRA website at www.fcs.gov.au.
Help when you need it
Rates, tools and calculators
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.
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