Everyday Accounts terms, fees and rates

 

 

 

Terms 

Transaction and service fees
Debit Card Conditions of Use
Westpac Electronic Banking Service Terms 
Westpac One App Terms and Conditions

 

Fees 


Interest rates and fees are current as at 18 November 2018 and are subject to change without notice. Some other service fees may apply from time to time, including overdrawn or Line of Credit charges. 

Everyday Accounts

Revolving credit accounts

Accounts no longer available for new accounts

 

Westpac Everyday - Fees
Fee exemptions available for customers 65 and over, superannuitants and under 19 year olds. Service fees still apply.
Fee typeFee amount
Paper statements $1.50 per statement
Free for electronic statements.
Electronic transactions
EFTPOS, Westpac ATM transfers and withdrawals, automatic payments once set up (service fee applies to set up or amend), direct debits/credits, bill payments, funds transfers and phone banking payments.
Free 
Manual withdrawals
Cheques and withdrawals at a branch.
$2.50 per transaction, capped at $5.00 per month.
Manual deposits Free

 

Access Account - Pay as you go fee option
Fee exemptions available for superannuitants. Service fees still apply.
Fee typeFee amount
Account maintenance fee

Free 
Electronic transactions
EFTPOS, Westpac ATM transfers and withdrawals, automatic payments once set up (service fee applies to set up or amend), direct debits/credits, bill payments, funds transfers and phone banking payments
40c per transaction
Manual transactions
Cheques, Westpac ATM deposits, deposits and withdrawals at a Westpac branch
80c per transaction

Access Account - Flat monthly fee option
Fee exemptions available for superannuitants. Service fees still apply.
Fee typeTotal business less than $25,000Total business $25,000 - $99,999Total business $100,000 or more
Monthly fee
Covers electronic and manual transactions

$9.95 per month
$5 per month
Free 

 

Earner Account - Fees
Service fees still apply.
Fee typeAverage monthly balance less than $5,000Average monthly balance of $5,000 or more
Account maintenance fee
$9.95 per month
Free 
Electronic transactions
EFTPOS, Westpac ATM transfers and withdrawals, automatic payments once set up (service fee applies to set up or amend), direct debits/credits, bill payments, funds transfers and phone banking payments

40c per transaction
Manual transactions
Cheques, Westpac ATM deposits, deposits and withdrawals at a Westpac branch
80c per transaction

 

Tertiary Easy Access Account - Fees
The term 'free' relates to Westpac fees only. Service fees still apply.  Please note a cheque book is not available on the Tertiary Easy Access Account.
Fee typeFee amount
Monthly Account Maintenance Fee

Free
Electronic transactions
EFTPOS, ATM transfers/withdrawals, automatic payments, direct debit, direct credit, bill payments, online and phone banking payments.
Free 
Manual transactions
(Cheques written, Westpac ATM deposits, deposits and withdrawals at a branch)
Manual transactions not available for Online Saver.
Free 
Debit MasterCard & Airpoints™ Debit MasterCard® annual account fee Waived (normally $10.00 for Debit Mastercard or $15.00 for Airpoints™ Debit MasterCard®)
Overdraft Establishment fee Waived
(normally $25.00)
Debit interest Interest free to agreed limit
Line of credit charge (LCC) 0.1% per month on agreed limit
(min. $3.00 per month)
Credit Card hotpoints MasterCard
(first year free)
$44 annual account fee
Low Rate MasterCard
(first year free)
$25 annual account fee ($12.50 charged every
6 months)
Airpoints™ MasterCard® $55 per year. (Paid in two 6-monthly installments of $27.50)
Personal Loan Debit interest Subject to change, check at time of loan application
Phone Banking First 10 calls a month Free
Calls after that 50c each
Email and text alerts
Your mobile service provider's normal text charges apply when you send a text to Westpac.
Email alerts Free
Texts you receive Free

 

International Easy Access Account - Fees
The term 'free' refers to Westpac fees only.  Service fees still apply. Please note a cheque book is not available on the Easy Access account.
Fee typeFee amount
Monthly Account Maintenance Fee
Easy Access account
Free
Electronic transactions
EFTPOS,  ATM transfers/withdrawals, automatic payments once set up (service fee applies to set up or amend), direction debit, direct credit, bill payments, online and phone banking payments.
Free 
Manual transactions
(Cheques written, Westpac ATM deposits, deposits and withdrawals at a branch)
Free 
Phone Banking First 10 calls month Free
Calls after that 50c each
Foreign Exchange Discounted¹

¹20% on Westpac's foreign exchange income margin. To receive the discount for Inward Telegraphic Transfers, they must be sent directly to Westpac Banking Corporation Wellington, New Zealand and have International Student Easy Access Account written in the Bank to Bank field to receive the discount.

 

Graduate Account Fees and Charges
The term 'free' refers to Wespac fees only.  Service fees still apply
Fee typeFee amount
Monthly Account Maintenance Fee Waived
Electronic transactions
EFTPOS, Westpac ATM transfers/withdrawals, automatic payments, direct debit, direct credit, bill payments, funds transfers and phone banking payments.
Free 
Manual transactions
(Cheques written, Westpac ATM deposits, deposits and withdrawals at a branch)
Free 
Airpoints™ Debit MasterCard® annual account fee Waived for the 1st year (normally $15.00)
Debit MasterCard® annual account fee Waived for the 1st year (normally $10.00)
Westpac PayTag® First issuance fee of $4.99 waived
Overdraft Establishment fee Waived (normally $25.00)
Debit interest Interest free to agreed limit
Line of credit charge (LCC) 0.1% per month (min. $3.00 per month)
Credit Card - annual account fee Airpoints™ MasterCard® First year free, normally $55 
hotpoints® MasterCard First year free, normally $44
Low Rate MasterCard First year free, normally $25 ($12.50 charged every 6 months)
Personal Loan Debit interest Subject to change, check at time of loan application
Phone Banking First 10 calls a month Free
Calls after that 50c each
Email and text alerts
Your mobile service provider's normal text charges apply when you send a text to Westpac.
Email alerts Free
Texts you receive Free

Other service fees may apply. Refer to our Transaction and Service Fees brochure for details. Transaction and service fees are current as at 18 November 2018 and are subject to change.

 

Revolving credit accounts

 

Choices Everyday Account - Fees
Note: Other service fees may still apply. Fee exemptions available for superannuitants.
Fee typeFee amount
Account maintenance fee
$9.95 per month
Electronic transactions
Eftpos, Westpac ATM transfers/withdrawals, automatic payments once set up (service fee applies to set up or amend), direct debits/credits, bill payments, online and phone banking payments
Free 
Manual transactions
Cheques, Westpac ATM deposits, deposits and withdrawals at a branch
Free 

 

Choices Home Loan Account - Fees
Note: Other service fees may still apply.
Fee typeFee amount
Electronic transactions
Eftpos, Westpac ATM transfers/withdrawals, automatic payments once set up (service fee applies to set up or amend), direct debits/credits, bill payments, online and phone banking payments
40c per transaction
Manual transactions
Cheques, Westpac ATM deposits, deposits and withdrawals at a branch
65c per transaction

Accounts no longer available to open

 

Encore Account - Fees
The Encore account is no longer available to new personal account holders.
Encore tiers
Encore has 3 pricing tiers. Which tier applies is based on:
     - your average monthly Encore balance, or
     - your total personal relationship with us.
For example, if your Encore, Choices home loan and term investments are worth more than $40,000, you'll automatically qualify for Tier 2 pricing benefits.

Transaction and service fees are current as at 18 November 2018 and are subject to change.
Some other service fees, including overdrawn or line of credit charges, may apply from time to time.
Tier descriptionNo. of free Westpac transactions per monthMonthly account maintenance fee amount
Tier 1
average monthly credit balance under $5,000 OR a total relationship less than $40,000
None $3.50
Tier 2
average monthly credit balance $5,000 - $9,999.99 OR a total relationship greater than $40,000
20 Free
Tier 3
average monthly credit balance $10,000 and over OR a total relationship greater than $150,000
40 Free
Fee typeFee amount
Electronic transactions
Eftpos, Westpac ATM transfers/withdrawals, automatic payments once set up (service fee applies to set up or amend), direct debits/credits, bill payments, online and phone banking payments
40c per transaction
Manual transactions
Cheques, Westpac ATM deposits, deposits and withdrawals at a branch
80c per transaction

Find out about transaction accounts here

You can get a copy of the current disclosure statement for Westpac New Zealand Limited, a copy of any applicable investment statement or term sheet for your investment, and full details of the terms and conditions from any Westpac branch in New Zealand free of charge. See the  transaction and service fees brochure for more details.

 

Interest Rates

Interest rates and fees are current as at 18 November 2018 and are subject to change without notice.

 

Earner Account - Interest rates
A transaction account that actually pays you interest once you have an average monthly balance of $5,000. You will see the interest paid into your account at the end of each calendar month.
TierRate
Less than $4,999 0.00% p.a.
$5,000 < $19,999 0.10% p.a.
$20,000 < $49,999 0.10% p.a.
$50,000 < $99,999 0.10% p.a.
$100,000 and over 0.10% p.a.

Find out about transaction accounts here

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You can get a copy of the current disclosure statement for Westpac New Zealand Limited from any Westpac branch in New Zealand free of charge. Interest rates quoted are subject to change. The above rates are not available to financial institutions. Full details of the terms and conditions are available from any Westpac branch in New Zealand. Interest is calculated on your daily balance, and is paid (less withholding tax) into your account on the last business day of each month.