Westpac
Westpac Choice
Westpac Choice is our most popular account. A simple-to-use everyday bank account.
Savings & transaction accountsBank updated 8 Sept 2026
At a glance
- Base rate
- 0.00%
- Monthly fee
- $5
§ 01 — Rates · 2
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| Penalty | — | — | — | 15.01% | — | The ULR is a debit interest rate charged to a transaction account if it becomes overdrawn without arrangement. It will be calculated daily on the debit balance (and deducted on the last business day… |
| Variable | — | — | — | 0.00% | — | paid every 1 mo; Standard Variable Rate |
§ 02 — Fees · 17
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Overdrawn Fee | Event | $15 | — | Nil for Westpac Choice where an account holder is under 18 years of age. This fee is waived for: Westpac Choice where an account holder is under 18 years of age. |
| Westpac Group Branded ATM - Balance Inquiry | Event | No fee | — | Any balance Inquiry made at a Westpac/St.George/Bank of Melbourne/BankSA branded ATM |
| Direct Debit | Payment | No fee | — | A transfer of funds from your account drawn under a Direct Debit request you gave another person or company. |
| PayTo payment | Payment | No fee | — | A transfer of funds from your account in accordance with a Payment Agreement you have established with a merchant or Payment Initiator. |
| Periodical Payments | Payment | No fee | — | An automated transfer that is debited from your account and credited to a specified account on a regular basis on your request. Additional fees apply for Periodical Payments made by Bank Cheque and I… |
| Account Keeping Fee | Periodic | $5 | Every 1 mo | This fee is waived for: Available for new Westpac Choice accounts opened online (for the first 12 months). This fee is waived for: Deposit at least $2,000 by the close of business on the last business day of the month (other fees apply) This fee is waived for: Are under the age of 41 This fee is waived for: Full-time tertiary students This fee is waived for: Are a Westpac Choice Concession account holder This fee is waived for: Link your Choice account to your Rocket Repay Home Loan or Rocket Investment Loan as an offset account (for as long as the account is linked). This fee is waived for: Are new to Australia or expatriate customers (for the first 12 months after opening a new Westpac Choice account) |
| Point of Sale (POS) transactions | Purchase | No fee | — | All transactions conducted at a POS terminal. |
| Foreign Transaction Fee (Australian merchant) | Transaction | 2.20% of transaction | — | 2.2% of the $AUD transaction amount where a transaction is made in foreign currency and the merchant or financial institution accepting the card is located in Australia (comprising of 2% Westpac Proc… |
| Foreign Transaction Fee (Merchant Outside Australia) | Transaction | 3.00% of transaction | — | 3% of the $AUD transaction amount where a transaction is made in foreign currency and the merchant or financial institution accepting the card is located outside Australia (comprising of 2% Westpac P… |
| Branch staff assisted withdrawal | Withdrawal | No fee | — | Includes any withdrawals conducted at a Westpac branch, including cashing of Westpac cheques. |
| Cheque Withdrawals | Withdrawal | No fee | — | Withdrawals or payments made by cheque. Excludes cashing of a cheque. Only available to customers aged 18 years and over. |
| Online Banking | Withdrawal | No fee | — | Online transfer withdrawals via Online Banking |
| Overseas Withdrawal | Withdrawal | No fee | — | Overseas Withdrawal Fee from a Global Alliance Partner ATM (for more information on Global Alliance Partners: Accessing your accounts overseas) |
| Overseas Withdrawal | Withdrawal | $5 | — | Any successful cash withdrawal made at an overseas ATM. Some overseas banks may also apply a surcharge to cash withdrawals from their ATMs. This should be drawn to your attention before you proceed w… |
| Telephone Banking (automated) | Withdrawal | No fee | — | Automated Telephone Banking transfer withdrawals |
| Telephone Banking (staff assisted) | Withdrawal | No fee | — | A Telephone Banking transfer withdrawal assisted by a staff member over the telephone |
| Westpac Group Branded ATM - Withdrawal | Withdrawal | No fee | — | Any withdrawal made at a Westpac/St.George/Bank of Melbourne/BankSA branded ATM |
§ 03 — Features
Instant paymentsPayIDDigital bankingFraud protectionUnlimited transactionsRelationship manager1 additional cardsFitbit PayGarmin PayGoogle PaySamsung PayApple Pay
- · $0 monthly and withdrawal fees - No Account-Keeping Fees for at least 12 months. Then, for deposits of $2,000 a month or eligible customers (details in fees section). No cash withdrawal fees from Wes…
- · Instant Digital Card - Use your digital card right away, before your physical Debit Mastercard arrives. Add your debit card to your mobile wallet or use it in the Westpac App.
- · Budgeting tools - Master your money in the Westpac App with our tools including Savings Finder, Tax Organiser and Budget Planner.
- · Exclusive offers - Check out our customer-only discounts and offers, including bonus Cashback on over 4,000 brands with ShopBack.
- · Home loan savings - Link one or more Choice accounts to your eligible Westpac home loan to help reduce the interest you?ll pay.
- · Spend&Save with Westpac - You could earn up to 5.75% p.a. variable interest on your first $150000 of savings with a Life Savings and Choice bank account. 18-40 year olds only. T&Cs and exclusions app…
- · Cardless Cash Withdrawal Feature - Cardless Cash is a convenient and secure way to withdraw cash from Westpac-branded ATMs using the Westpac App.
- · Weekly Spend Limit will allow customers to set a limit on their accumulative weekly spend on their Debit Mastercard.
- · $0 international transfers when you send foreign currency overseas via Online Banking or the Westpac App. Westpac transfer fees still apply for funds sent in Australian dollars. Receiving bank fees m…
- · Click to Pay - Online shopping made quick, simple and secure with Click to Pay.
- · Account can be opened via Online, mobile, in branch and telephone.
- · No minimum opening balance for this account
§ 04 — Eligibility & limits
- · Minimum age 14
- · Residency: Those with an Australian residential address and who are currently in Australia.
- · The card must be linked to an eligible Westpac account
§ 05 — Compare
§ 06 — Run the numbers
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Published by Westpac under the Consumer Data Right, last changed by them on 8 Sept 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.