Online savings account
Westpac eSaver makes saving a breeze. You get an introductory interest rate and online access to your money whenever you need.
Why open an eSaver account?
Simply link your eSaver account to a Westpac everyday account for:
- Introductory fixed rate for the first 5 months for new eSaver customers
- No Account-keeping fees on the eSaver account (other fees may apply)
- Unlimited access via your linked everyday account
- No minimum deposit or monthly balance.
Interest rates
For new eSaver customers only. Total introductory variable rate for the first 5 months:
4.75% P.A. Online application |
4.40% P.A. In-branch or staff assisted applications |
The total introductory variable rate is a combination of:
| Standard variable rate (after 5 months or existing customers) | 1.00% p.a. |
| 5-month introductory fixed rate | 3.40% p.a. |
| Online bonus rate | 0.35% p.a. |
The 5-month introductory rate applies for:
- Sole applicants who have never held an eSaver account before
- Joint account holders where the primary account holder has never had an eSaver account
- The first 5 months, on top of the standard variable rate. After 5 months, the standard variable interest rate will apply.
The Online bonus rate is available for sole applicants only:
- From 17/11/2023 for a limited time only
- For new eSaver accounts opened online
- By those who have never held an eSaver account before.
Open your account online
In just minutes you can open online your:
- Westpac eSaver savings account
- A linked Westpac Choice account (if you don't already have one).
By opening your account online, you could also be eligible for the Online bonus rate.
Your personal details:
- Name and date of birth
- Australian home address
- Mobile number
Two forms of ID:
- Australian birth certificate
- Australian driver licence
- Passport
- Medicare card
Get your ID verified instantly online, without going into a branch.
If you're an Aboriginal or Torres Strait Islander and 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.
If you haven't registered for Online Banking yet, register now.
Once you're set up, you can import BPAY® billers and payees from selected banks into your Online Banking or the Westpac App.
Your linked everyday account comes with a Debit Mastercard®. The card will arrive in the mail within 2 weeks. While waiting for the physical card to arrive, you can use your Digital Card in the Westpac App. You can add it to your Apple Pay, Google Pay™, or Samsung Pay™ digital wallets.
Get the Westpac App for even easier banking
View and transfer funds fast
Quick Balance lets you view balances and transfer money for up to three main accounts without signing in.
Manage your cards in one place
Misplaced your debit card? Temporarily lock it while you’re looking, order a new one, or change your PIN, all in the app’s convenient Cards Hub.
Get sorted with in-app budget tools
Track your month-to-month Cash flow with the in-app budget tools. Spot areas where you could save by sorting your spending into Categories.
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) | $0 |
| 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!) .
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.
If you decide to open a Westpac Choice transaction account, the following fees will apply:
| Standard fees (fees may change) | Amount |
|---|---|
| Account-Keeping Fee (monthly) | $5 (criteria for fee waiver below) |
| Online Banking withdrawal (including Mobile Banking) | $0 |
| Telephone Banking withdrawal (self service) | $0 |
| Telephone Banking withdrawal (staff assisted) | $0 |
| Branch staff assisted withdrawal | $0 |
| Direct Debit | $0 |
| Point of Sale (POS) transactions | $0 |
| ATM cash withdrawals in Australia (ATM providers may charge a fee – watch out for that!) | $0 |
| Overdrawn Fee (for more information: Overdraw Preference Feature | $15 |
| Overseas Withdrawal Fee from a Global Alliance Partner ATM (for more information on Global Alliance Partners: Accessing your accounts overseas | $0 |
| Overseas Withdrawal Fee from a non-Global Alliance Partner ATM | $5 |
| Transactions made in foreign currency, and the merchant or financial institution is located outside Australia | 3% of the AUD transaction amount |
| Transactions made in foreign currency, and the merchant or financial institution is located in Australia | 2.2% of the AUD transaction amount |
| Unarranged Lending Rate (ULR) is a debit interest rate charged to a transaction account if it becomes overdrawn without arrangement | 15.01% p.a. |
The monthly fee is waived for:
- Customers that deposit at least $2,000 each month
- Customers under the age of 30 or full-time tertiary students
- Individuals who hold a Concession or Health Care card, or receive an eligible Australian Government benefit payment
- New to Australia or expatriate customers (for the first 12 months)
- Customers that open a new Westpac Choice account online (for the first 12 months).
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.
Other fees and charges may apply. Please refer to the Terms and Conditions (PDF 712KB)
Safe and secure savings
- Online Banking Security Guarantee: If your Westpac account is compromised by online banking fraud, we promise to return any missing funds. This guarantee only applies if you’ve followed our Online Banking Terms and Conditions. This includes: 1. Keeping your sign-in details, including passwords or Westpac Protect™ Security codes, private, 2. Not contributing to the loss, and 3. Telling us right away if you think there’s an unauthorised transaction or fraud on your account.
- Westpac Protect™ Security Code: Keep your Online Banking safe with a Security Code when using the Westpac App or your Online Banking service. This Security Code confirms that it's you transacting or making changes to your profile.
- Protected by the Financial Claims Scheme (FCS): If you have a Westpac deposit account, in certain circumstances you may be entitled to a payment under the FCS. Payments under the FCS are limited for each customer. You can find out more information from the APRA website at www.fcs.gov.au.
Frequently asked questions
Interest is paid to your account on the last business day of each month.
Balances, including deposits made on or after the last business day of the month, won't count towards that month's interest but will count for the next month's interest.
You’ll need an everyday account to open a Westpac Savings account. By selecting the OPEN NOW button, we'll open for you a:
- Westpac eSaver account
- Westpac Choice account (if you don't already have one).
Help when you need it
Rates, tools and calculators
Things you should know
Before making a decision about any of our products or services, please read all the terms and conditions and consider whether the product or service is right for you. Fees and charges apply and may change.
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