Summary
Before you get started, here’s a quick recap of what you’re applying for:
The Westpac Life account comes with a Westpac Choice everyday account so you can easily transfer money in and out. We'll only open a Choice account if you don't already have one.
To open you'll need to be at least 18 years old with an Australian residential address.
Westpac Life
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+
Westpac Choice (if you don't already have one)
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Special offer
For 18-29 year olds
Get up to 5.20% p.a. variable interest on your savings:
- When you grow your savings with a Westpac Life account and make 5 eligible purchases with a debit card linked to your Choice account each month
- This is made up of 1.85% p.a. variable base rate + 3.15% p.a. variable bonus for saving each month + 0.20% p.a. 'Spend&Save' bonus for spending 5 times. Applies to the first $30,000 in your Westpac Life savings account. After this amount you’ll earn 5.00% p.a. variable interest*.
What kind of account do you need?
Single
Joint
Are you already a Westpac customer?
Yes
No
What to have handy
- Your Westpac Online Banking sign in details.
By continuing you agree
- You have read our Privacy Statement which explains how we collect, use and disclose your personal information
- You agree to provide your consents to us
- You will need to also acknowledge your obligations under AML/CTF and disclose if you have any other reporting obligations
- You agree to Financial Services Guide (PDF 249KB)Online Banking Terms and Conditions (PDF 407KB)Deposit Accounts for Personal Customers (PDF 650KB)Westpac Debit Mastercard® Terms and Conditions (PDF 216KB)
Ready to get started?
Other options
- Under 18 or applying on behalf of somebody younger? Learn more
What to have handy
By continuing you agree
- You have read our Privacy Statement which explains how we collect, use and disclose your personal information
- You agree to provide your consents to us
- You will need to also acknowledge your obligations under AML/CTF and disclose if you have any other reporting obligations
- You agree to Financial Services Guide (PDF 249KB)Online Banking Terms and Conditions (PDF 407KB)Deposit Accounts for Personal Customers (PDF 650KB)Westpac Debit Mastercard® Terms and Conditions (PDF 216KB)
- You agree to comply with all applicable Australian and International laws relating to the account(s) including any exchange control laws.
Ready to get started?
Other options
- Under 18 or applying on behalf of somebody younger? Learn more
Is applicant 1 already a Westpac customer?
Yes
No
Is applicant 2 already a Westpac customer?
Yes
No
What to have handy?
- Both applicants will need their Westpac Online Banking sign in details
- To gain full access to your account, you’ll need to be registered for Westpac Protect SMS Code. We’ll send an SMS Code to both applicants before you open your account.
By continuing you both agree
- You have read our Privacy Statement which explains how we collect, use and disclose your personal information
- You agree to provide your consents to us
- You will need to also acknowledge your obligations under AML/CTF and disclose if you have any other reporting obligations
- You agree to Financial Services Guide (PDF 249KB)Online Banking Terms and Conditions (PDF 407KB)Deposit Accounts for Personal Customers (PDF 650KB)Westpac Debit Mastercard® Terms and Conditions (PDF 216KB)
- You agree to hold the account in joint names (to open an account in trust you’ll need to visit a branch)
- You agree that you have permission to give us personal information about any joint applicants.
Ready to get started?
Other options
- Under 18 or applying on behalf of somebody younger? Learn more
Complete your application in branch together
If you or the person you’re applying with is a new Westpac customer, you’ll need to visit a branch together to open your account. Please make sure you both bring:
- Your tax details. We’ll need your Tax File Number (TFN) and if you’re a foreign tax resident, we’ll also need your tax residency details
- Suitable ID. You’ll both need to be verified separately.
You can use our identification checklist to work out which documents you’ll need for your situation.
To ensure we’re best prepared to help you, please call the branch first to make an appointment.
If you're Aboriginal and Torres Strait Islander and you 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.
Is applicant 2 already a Westpac customer?
Yes
No
Complete your application in branch together
If you or the person you’re applying with is a new Westpac customer, you’ll need to visit a branch together to open your account. Please make sure you both bring:
- Your tax details. We’ll need your Tax File Number (TFN) and if you’re a foreign tax resident, we’ll also need your tax residency details
- Suitable ID. You’ll both need to be verified separately.
You can use our identification checklist to work out which documents you’ll need for your situation.
To ensure we’re best prepared to help you, please call the branch first to make an appointment.
If you're Aboriginal and Torres Strait Islander and you 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.
What to have handy
By continuing you both agree
- You have read our Privacy Statement which explains how we collect, use and disclose your personal information
- You agree to provide your consents to us
- You will need to also acknowledge your obligations under AML/CTF and disclose if you have any other reporting obligations
- You agree to Financial Services Guide (PDF 249KB)Online Banking Terms and Conditions (PDF 407KB)Deposit Accounts for Personal Customers (PDF 650KB)Westpac Debit Mastercard® Terms and Conditions (PDF 216KB)
- You agree to hold the account in joint names (to open an account in trust you’ll need to visit a branch)
- You agree that you have permission to give us personal information about any joint applicants
- You agree to comply with all applicable Australian and International laws relating to the account(s) including any exchange control laws.
Ready to get started?
Other options
- Under 18 or applying on behalf of somebody younger? Learn more
Things you should know
1
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.
~ Payable each month that you; make a deposit to the account, ensure the account balance is higher at the end than the beginning of the month, and keep the account balance above $0. For bonus interest qualification, a month is the period from close of business on the last business day of the prior month to close of business on the last business day of the current month.
Westpac everyday account: To open a Westpac savings account, customers must hold a Westpac everyday account in the same name and be registered for Online and Phone Banking. Fees and charges may apply on the everyday account.
*
Total variable interest: total variable interest consists of two parts: Westpac Life variable interest and Spend&Save bonus variable interest. To earn the total variable interest, you must meet the criteria for both parts.
# Open a new Westpac Choice account online between 1 February 2024 and 30 September 2025 to have the monthly Account Keeping fee waived for the first 12 months. At the end of the 12-month period, the monthly Account Keeping fee (currently $5) will apply unless the minimum monthly deposit criteria are met. Individual(s) under the age of 30, New Arrivals, and students are ineligible for this Offer. This offer is not applicable to the Westpac Choice Concession account. For joint accounts, individuals must meet the eligibility criteria for the fee waiver to apply. Other fees and charges, terms and conditions apply to the Westpac Choice account. This offer may be repeated from time to time, withdrawn, varied, or extended at any time.
Spend&Save bonus variable interest:
- You must be aged 18-29 with a Westpac Life and a Westpac Choice account. Joint accounts are not eligible.
- If you have multiple Westpac Life accounts, only the earliest opened account is eligible for bonus interest qualification.
- You must make 5 eligible purchases with the debit card linked to your Westpac Choice account and have these settled (not pending) by 11:59PM AEST on the second last business day within a calendar month. The following transactions are ineligible: ATM transactions, PayID, BPAY, EFTPOS cash-out only transactions, direct debits and paying off a credit card account.
- For bonus interest qualification, a month is the period from close of business on the last business day of the prior month to close of business on the last business day of the current month. Bonus interest is calculated on the daily balance of your eligible Westpac Life account up to $30,000, and recorded as paid into your eligible Westpac Life account on the last business day of the month.
- Only one Spend&Save bonus variable interest offer per customer.
- The bonus interest will appear on your Life account statement as “INTEREST PAID – PROMOTIONAL". It will also appear in Online Banking and the Westpac App in the Account details section for your Westpac Life account as “Promotional rate”.
- Offer may be varied or withdrawn at any time in accordance with the Deposit accounts for Personal customers Terms and Conditions. (PDF 650KB)
Mastercard® is a registered trademark and the circles design is a trademark of Mastercard International Incorporated.