NEW TO AUSTRALIA? OPEN A SAVINGS ACCOUNT
Why open a Westpac eSaver savings account?
- Competitive standard variable interest rate
- Bonus fixed interest rate for the first 5 months¹
- No account-keeping fee²
- No minimum deposit or monthly balance
- Unlimited withdrawals and deposits via a linked everyday account
- Manage and access your account 24/7 using only Online Banking³
Tip: Once you arrive in Australia, you can apply online in just a few minutes. We'll need to verify your ID, which may mean we need to see you in person at your nearest branch.
Interest rates
Within 12 months of arrival in Australia (new eSaver customers only):
5.20 % p.a. Introductory special rate for the first 5 months |
1.10 % p.a. Standard variable interest rate after 5 months |
The introductory special rate for the first 5 months is a combination of:
| Standard variable rate | 1.10% p.a. |
| 5 month introductory fixed rate1 | 3.55% p.a. |
| New arrival fixed bonus rate4 (available from 10/10/2023 for a limited time only) | 0.55% p.a |
Account fees
| Standard fees (fees may change) | Westpac eSaver | Westpac Choice |
|---|---|---|
| Account-Keeping Fee | $0 | $0 for the first 12 months ($5 per month thereafter unless you meet criteria for fee waiver below) |
| Domestic ATM Transactions7 | $0 | $0 |
| Overdrawn Fee | $15 | $15 |
| Branch staff assisted withdrawal | $0 | $0 |
| Telephone Banking withdrawal (automated) | $0 | $0 |
| Telephone Banking withdrawal (non-automated) | $0 | $0 |
| Direct debit | $0 | $0 |
| Point of Sale (POS) transactions - All transactions conducted at a POS terminal | $0 | $0 |
| Online banking (including mobile banking) fees | $0 | $0 |
This fee is waived for:
- Customers that deposit at least $2,000 each month (other fees apply)
- Customer under the age of 30 or a full-time tertiary students
- Australian Pensioner Concession or Health Care Card holders
- New to Australia or expatriate customers (for the first 12 months).
Safe and secure savings
Help when you need it
Things you should know
2. No account-keeping fee on Westpac eSaver: To open a Westpac eSaver account, you must hold a Westpac everyday account. Fees and charges apply on a Westpac everyday account.
3. Online Banking 24/7 access is subject to system availability.
4. New Arrivals Fixed Bonus Rate
- Bonus offer available from 10/10/2023 for a limited time only for customers who are new to Australia (arrived in the last 12 months).
- Only available for new eSaver accounts opened by sole applicants who have never held an eSaver account before.
- Customers must hold a valid foreign issued identification document in our identification checklist (PDF 657KB)
- If you are experiencing issues applying online, please contact a Westpac branch.
- Not available in conjunction with any other offer, unless we determine otherwise.
- We reserve the right to withdraw, amend or extend this offer at any time.
Once you arrive in Australia you can request a Debit Mastercard®. Read the Terms and Conditions (PDF 216KB) and decide whether the product is right for you.
6. Safe Online Banking guarantee: ensures that customers will be reimbursed for any unauthorised transactions provided that the customer has not contributed to the loss and contacted Westpac promptly. Refer to the Westpac Online Banking Terms and Conditions (PDF 407KB) for full details, including when a customer will be liable.
7. Financial Claims Scheme: payments under the FCS are subject to a limit for each depositor. For more information visit www.fcs.gov.au.
Mastercard® is a registered trademark and the circles design is a trademark of Mastercard International Incorporated.