Westpac eSaver Account
The Westpac eSaver Savings Account is a convenient savings solution combining the competitive rates of a high-interest account and the quick access of an online savings account. In exchange for the high interest, the access options are limited to electronic channels. The eSaver is ideal for those who want to maximize their savings and access their funds on the go.
How it Works
To use the eSaver, you need an existing transaction account that will link to it. The higher eSaver interest rates will then apply to the funds in your transaction account, but will limit access to phone and internet banking. Essentially, you give up some of your access options in exchange for a higher interest rate. It also pays you a bonus interest whenever you make no withdrawals for a calendar month.
Other features of the Westpac eSaver Account include:
- No account keeping fees
- Tiered interest rates above a set balance: the more you save, the higher your earnings
- Bonus interest paid out on months when you make no withdrawals
- Unlimited fee-free transfers from your transaction savings account to your eSaver
- Paperless statements (paper statements can be issued upon request)
- Secure Internet and Telephone Banking
