Westpac
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Westpac provides banking services to individuals, businesses and institutional customers, including savings and transaction accounts, home loans, credit cards and business finance. Established in 1817 as the Bank of New South Wales, it adopted the name Westpac Banking Corporation in 1982. Customers access its services through digital banking, branches and specialist banking teams.
| Legal name | Westpac Banking Corporation |
|---|---|
| ABN | 33007457141 |
| Ownership group | Westpac Group [1]Controlling entity: Westpac Banking Corporation |
| Deposit issuer | Westpac Banking Corporation [5] |
| Deposit protection | Eligible AUD deposits are covered up to $250,000 per account holder across this issuer, including its other brands. [6] |
| Same issuer brands | St.George, BOM, BankSAEligible deposits across these brands share the issuer’s FCS limit. |
| Ownership / group | Publicly listed, shareholder-owned [2] |
| Banking channels | Branches and digital banking [3] |
Savings rates
Compare allRates p.a. at a balance of $699.
| Bump Savings | Visit | 1.75% | 5.30%Ongoing cap: No cap | No cap | - | - | - | 1 | - | $0.01 | 0 | - | - | - | 17 | $0 | - |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 55+ and Retired | Visit | 0.05% | 0.05%Ongoing cap: $10K | $10K | - | - | - | 0 | - | $0 | 0 | - | - | 55 | - | $0 | - |
| eSaver | Visit | 1.25% | 1.25%Ongoing cap: No cap | No cap | 5.05%5 mths | No cap | 5 mths | 0 | - | $0 | 0 | - | - | 14 | - | $0 | - |
| eSaver (New customer) | Visit | 1.25% | 1.25%Ongoing cap: No cap | No cap | 5.60%5 mths | No cap | 5 mths | 0 | - | $0 | 0 | - | - | 14 | - | $0 | - |
| eSaver (Online only) | Visit | 1.25% | 1.25%Ongoing cap: No cap | No cap | 5.50%5 mths | No cap | 5 mths | 0 | - | $0 | 0 | - | - | 14 | - | $0 | - |
| Life | Visit | 0.10% | 5.25%Ongoing cap: No cap | No cap | - | - | - | 1 | - | $0.01 | 0 | - | - | 18 | - | $0 | - |
| Life (Spend&Save (18–40)) | Visit | 0.10% | 5.95%Ongoing cap: $150K | $150K | - | - | - | 1 | - | $0.01 | 20 | - | - | 18 | 40 | $0 | - |
Source: noren.com.au
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Savings products
Bump Savings
A variable-rate savings account. Bonus interest depends on meeting the account’s monthly requirements.
Westpac 55+ and Retired
A variable-rate savings account. The reviewed ongoing rate has no monthly activity requirements.
Westpac eSaver
A variable-rate savings account. The reviewed ongoing rate has no monthly activity requirements. An introductory offer is available to eligible customers.
Westpac Life
A variable-rate savings account. Bonus interest depends on meeting the account’s monthly requirements.
Useful links
Similar institutions
Sources and review
- About Westpac (westpac.com.au)
- Investor information (westpac.com.au)
- Banking channels (westpac.com.au)
- Profile evidence 4 (commbank.com.au)
- Provider deposit-issuer information (westpac.com.au)
- APRA FCS institution list (apra.gov.au)
- APRA ADI register (apra.gov.au)
Westpac data reviewed . Next profile review due .