NEW TO AUSTRALIA? OPEN A SAVINGS ACCOUNT

Opening a Westpac eSaver when you arrive in Australia lets you save with unlimited withdrawals and bonus interest for the first 5 months.
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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

Just arrived? Pair up a Westpac Choice everyday account with an eSaver saving account

Choice everyday account

 Over 18? Get $50 on us!

Open a Choice account online now or in-branch by 31st March 2025 and make a single deposit of $100 within 10 days of opening and we’ll give you $50.

 

T&Cs and eligibility apply#

plus

Choice everyday account

 Get a 5.20% p.a. total introductory rate

Open an eSaver at the same time (or just the eSaver if you already have a Choice account) to earn interest of up to5.20% p.a. on eSaver savings for the first 5 months. 

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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:

Safe and secure savings
 

Safe Online Banking Guarantee

If your Westpac account is compromised as a result of Internet fraud, we guarantee to repay any missing funds, providing you comply with our Online Banking Terms and Conditions.6

Protected by the Financial Claims Scheme

Deposits to this account and other eligible Westpac accounts are guaranteed by the Australian Government up to a total of $250,000 under the Financial Claims Scheme.7

Westpac Protect™ Security Code

Increase your Online Banking security by using your Security Code to confirm certain transactions via the Westpac App or SMS.

Frequently asked questions

An introductory fixed bonus rate of 3.55% p.a. applies for the first 5 months, on top of the standard variable rate when you are a new Westpac eSaver customer.

After 5 months, the standard variable interest rate, currently 1.10% p.a. will apply to your eSaver account.

Help when you need it

More options

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Handy guides and articles

Find a branch

Visit your local branch 

(Interpreter services available)

Give us a call

1300 558 724

8am – 8pm (Sydney time) 7 days (you can ask for an interpreter for translation services if needed)

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Open a savings account and everyday bank account (if you don’t already have one).

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Things you should know
Deposit Accounts for Personal customers Terms and Conditions (PDF 645KB) 
Online Banking Terms and Conditions (PDF 620KB) 
Personal Telephone Banking Terms and Conditions (PDF 215KB) 
Find out what information you need to provide to become a customer (PDF 657KB) 
Westpac Debit Mastercard® Terms and Conditions (PDF 210KB)

 

Before making a decision about any of our products or services, please read all the terms and conditions. Fees and charges apply and may change. 

 

1. Introductory fixed interest: If you have not had a Westpac eSaver account before, an introductory fixed interest rate of 3.55% p.a. applies for the first 5 months, on top of the standard variable rate. After 5 months, the standard variable interest rate, currently 1.10% p.a. will apply. Existing or previous eSaver account holders are not eligible for this offer. Joint accounts are eligible where the primary account holder has not held an eSaver account before.   
 

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.
     
5. Debit Mastercard®: Westpac Choice Youth account, the eligible card age is 8. For any other transaction account, the eligible card age is 14. You must have an Australian residential address.

Once you arrive in Australia you can request a Debit Mastercard®. Read the Terms and Conditions (PDF 210KB) 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 620KB) 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. 

 

# $50 Cashback offer: Fees and charges apply. Read the  Deposit Accounts for Personal Customers Terms and Conditions (PDF 645KB) before making a decision and consider whether the product is right for you. To receive AUD$50, you must: open a new Westpac Choice account between 1 December 2024 and 31 March 2025, have never held a transaction account with Westpac before, and deposit a minimum of $100 into the new account within 10 days of account opening.  The offer is available for customers who are new to Australia   (arrived in the last 12 months) and over 18 years of age. Customers must hold a valid foreign issued identification document in our identification checklist (PDF 657KB). For joint accounts, both account holders must not have held a Westpac transaction account before. The AUD$50 promotion amount will be paid into the Customer’s Westpac Choice account within 50 days of meeting these Terms and Conditions. The Westpac Choice account must remain open during that period to receive the cashback reward. Limited to only one eligible account per eligible individual (including where it is a joint account) and paid to the Westpac Choice account that was opened first. 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. We recommend you seek an independent, professional tax advice to determine tax implications on the cashback based on your personal circumstances. 

 

Mastercard® is a registered trademark and the circles design is a trademark of Mastercard International Incorporated.