Important Information
Eligibility updates from 1 October 2022
Updated eligibility rules for customers to earn the Spend&Save bonus interest within defined terms.
We’re making some changes to our eligibility criteria to earn the Spend&Save bonus interest.
| Bonus Criteria | Updated Rule |
|---|---|
| 1. Joint accounts | Joint accounts are no longer eligible. |
| 2. Multiple accounts | Bonus interest is no longer earned across multiple accounts. Only your earliest opened account is eligible. |
| 3. Closed accounts | Your account must remain open up to the 21st day of the following month to be eligible for the bonus interest. If you close your account prior to the 21st day of the following month, the bonus interest will not be paid. |
Terms and Conditions
Once these changes come into effect on 1 October 2022, the updated Spend&Save Terms and Conditions will be as follows:
- You must be aged 18-29 with a Westpac Life and a Westpac Choice account – both in the same name. Joint accounts are not eligible.
- You must make 5 eligible purchases with the debit card linked to your Westpac Choice account and have these settled (not pending) 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.
- If your eligible Westpac Life account is closed before 21st day of the following month, the bonus interest will not be paid.
- Only one Spend&Save bonus interest offer per customer.
- Offer may be varied or withdrawn at any time in accordance with the Deposit accounts for personal and self-managed superannuation fund.