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):
4.95 % p.a. Introductory special rate for the first 5 months |
1.00 % 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 | 1.00% p.a. |
| 5 month introductory fixed rate1 | 3.40% p.a. |
| New arrival fixed bonus rate4 (available from 10/10/2023 for a limited time only) | 0.55% p.a |
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) | $15 |
| 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
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 340KB) 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 1MB) 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.