How Westpac Bonus Saver works
Make unlimited withdrawals and still earn bonus interest as long as on the last business day of the month your balance is $20* greater than on the last business day of the month prior. With Westpac Bonus Saver, you won't pay for any monthly account maintenance fees. Transaction and service fees will apply.
Keep on track to earn your bonus return by checking the status of the Bonus Indicator which will appear in Westpac One online banking.
Manage your money in Westpac One online banking, phone banking, in-branch, or through a Westpac ATM².
Interest rates & Fees
Westpac Bonus Saver - Interest rates
You can earn bonus interest as long as on the last business day of the month your balance is $20 greater than the last business day of the month prior. The $20 excludes interest earned on the account and/or Westpac fees charged to the account. If you need to access your money payments can be made directly out of your Westpac Bonus Saver account.
Interest is calculated daily on the full credit balance and paid (less resident withholding tax) into your Westpac Bonus Saver account on the last business day of each month.Tier Base Bonus Potential All balances
0.05% p.a.
0.15% p.a. On the last business day of the month your account balance is $20 greater than on the last business day of the month prior. The $20 excludes interest earned on the account and/or Westpac fees charged to the account.
0.20% p.a. On the last business day of the month your account balance is $20 greater than on the last business day of the month prior. The $20 excludes interest earned on the account and/or Westpac fees charged to the account.
Westpac Bonus Saver - Fees
Note: The term 'free' refers to Westpac fees only. Service fees still apply.
Fee type Fee amount Account maintenance fee
All balancesFree
All electronic deposits
Free
Internet - funds transfers
Free
Westpac ATM - balance enquiry/transfer of funds
Free
Phone Banking
Third party telephone fees may applyFree
Paper statements
$1.50 per statement
Free for electronic statements.Manual withdrawals
Cheques and withdrawals at a branch.$2.50 per transaction
How to apply
Start saving
Adding funds to your Westpac Bonus Saver is as simple as a Transfer from your transaction account using online banking, phone banking, or a Westpac ATM, or making a cash deposit using a branch deposit box or over the counter.
Top Tip: Set up an automatic payment for the middle of the month to ensure your monthly deposit is always made in plenty of time.
If you need to withdraw
If you need to dip into your savings, payments can be made directly out of your Westpac Bonus Saver account via Westpac One, you can transfer funds to your transaction account at a Westpac ATM², or you can withdraw cash over the counter at a Westpac Branch (a $2.50 fee applies).