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Westpac Savings account reviews

Overall rating
7.4/10
Price
6.6/10
Features
6.2/10
Customer service
7.5/10
Convenience
7.9/10
Trust
7.5/10
Based on 4886 reviews as rated by the Mozo community.

Featured savings account from Westpac

Life

Maximum rate
3.00% p.a. (for $0 to $30,000)
standard interest rate
0.40% p.a.(for $0 and over)
Govt Deposit Guarantee
Yesup to $250,000

Make 5 transactions/month on linked Westpac Choice account and min 1 deposit and higher balance than at the beginning of the month in Life savings account.

Promoted

Recent Westpac savings account reviews

Sort reviews by: date | star rating
  • Westpac Life review

    Overall rating   10 / 10
    Incentives to help you save!

    This is a great a account if you want to save money. They reward you with extra interest if you do not touch your money for the month, which is a great incentive to save!

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Kerry, Victoria, reviewed 5 days ago
  • Westpac Life (18-29 years old) review

    Overall rating   5 / 10
    Great bank to start with but not to stay.

    It’s great for just starting out with a bank but I don’t think it’s something to stick with - in my opinion it’s the type of bank you stay with until you find a better one. Its service is easy, trustworthy and reliable - however minor details like fees and interest rates could always be better.

    Price
    4 / 10
    Features
    2 / 10
    Customer service
    3 / 10
    Convenience
    10 / 10
    Trust
    9 / 10
    Less
    Brandon, Western Australia, reviewed 6 days ago
  • Westpac Life (18-29 years old) review

    Overall rating   1 / 10
    3% Life/Choice account is false advertising ...

    The 3% p.a. For 18-29 y.o. is misleading. After seeing about this account on the news in July, I phoned Westpac, made enquires and opened a Life and a Choice account to benefit from 3% interest. Following their criteria, I spend at least 5 times on Choice account, and deposited money into the Life account so the balance is higher at the end of the month than the beginning. However, on 1Aug, i was only paid interest at 0.95% P.a. for the July month. I’m very disappointed with Westpac. I have emailed them and yet to hear from them. This is misleading and is a con. I hope anyone had the same experience will leave message here so other people will not fall into the trap. I hope the promoters of this account need to know the details before the promotion.

    Price
    1 / 10
    Features
    1 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Lizzy, New South Wales, reviewed 24 days ago
  • Westpac eSaver review

    Overall rating   4 / 10
    Look for others.

    Very low interest, if you take any from it anytime in the month all interest is gone. Might as well just use another everyday account and save on fees.

    Price
    3 / 10
    Features
    1 / 10
    Customer service
    7 / 10
    Convenience
    10 / 10
    Trust
    7 / 10
    Less
    Thomas, Victoria, reviewed 25 days ago
  • Westpac Life (18-29 years old) review

    Overall rating   9 / 10
    Best interest rate

    I recently opened this account to get the 3% interest rate - much better than anything else around. So far so good. Just make sure to do all of things required to get the top rate.

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    7 / 10
    Convenience
    8 / 10
    Trust
    10 / 10
    Less
    Caitlin, New South Wales, reviewed 27 days ago
  • Westpac Savings Account review

    Overall rating   10 / 10
    Love it.

    Love Westpac because my money is always in at the exact same time every fortnight. Love that they are reliable and true to their word.

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Zoe, South Australia, reviewed 30 days ago
  • Westpac eSaver review

    Overall rating   8 / 10
    Quality service.

    It is very clearly set out and a reliable service. They were a little late to provide Apple Pay although now have caught up. Would recommend.

    Price
    7 / 10
    Features
    8 / 10
    Customer service
    8 / 10
    Convenience
    9 / 10
    Trust
    9 / 10
    Less
    Hugh, New South Wales, reviewed 30 days ago
  • Westpac Life review

    Overall rating   9 / 10
    Good Australian company

    Easy to use. Safe and reasonable interest at the moment.

    Price
    8 / 10
    Features
    9 / 10
    Customer service
    9 / 10
    Convenience
    8 / 10
    Trust
    10 / 10
    Less
    Laurie, Queensland, reviewed about 1 month ago
  • Westpac Savings Account review

    Overall rating   8 / 10
    Happy with this service.

    I'mm happy with this Bank and their service for me, personally, they are always helpful.

    Price
    6 / 10
    Features
    4 / 10
    Customer service
    8 / 10
    Convenience
    7 / 10
    Trust
    8 / 10
    Less
    Kerrie, Queensland, reviewed about 2 months ago
  • Westpac Savings Account review

    Overall rating   3 / 10
    Poor interest on savings balances.

    They start you off on a great interest rate for a certain period then you drop off to their minimum after about a 6 month period. They have closed so many branches you cannot go into a branch to discuss anything with them.

    Price
    2 / 10
    Features
    2 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    6 / 10
    Less
    Neal, New South Wales, reviewed about 2 months ago
  • Westpac Savings Account review

    Overall rating   10 / 10
    I am happy to stay with Westpac Bank.

    Pros: They do not charge a banking fee for pensioners.

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Michelle, Victoria, reviewed 3 months ago
  • Westpac Savings Account review

    Overall rating   8 / 10
    Great staff.

    Great staff, easy to do banking, bank found throughout Australia.

    Price
    7 / 10
    Features
    6 / 10
    Customer service
    9 / 10
    Convenience
    9 / 10
    Trust
    10 / 10
    Less
    Laurie, Queensland, reviewed 3 months ago
  • Westpac Life review

    Overall rating   9 / 10
    Competitive rates and great staff

    Been using them my whole life, always supportive. Good customer service.

    Price
    9 / 10
    Features
    9 / 10
    Customer service
    9 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Daniel, Western Australia, reviewed 3 months ago
  • Westpac eSaver review

    Overall rating   5 / 10
    Non competitive interest rates.

    High monthly fees on accounts, no option to close out via online.

    Price
    3 / 10
    Features
    6 / 10
    Customer service
    6 / 10
    Convenience
    7 / 10
    Trust
    6 / 10
    Less
    James, Western Australia, reviewed 3 months ago
  • Westpac Savings Account review

    Overall rating   10 / 10
    Have always been helpful and friendly.

    They do not charge pensioners a fee just for being with their bank.

    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Michelle, Victoria, reviewed 4 months ago
  • Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

    Savings account comparisons on Mozo - rates updated daily

    • Life

      Maximum rate
      3.00% p.a. (for $0 to $30,000)
      standard interest rate
      0.40% p.a.(for $0 and over)
      Govt Deposit Guarantee
      Yesup to $250,000

      Make 5 transactions/month on linked Westpac Choice account and min 1 deposit and higher balance than at the beginning of the month in Life savings account.

      Promoted
    • Bonus Saver Account

      Maximum rate
      1.65% p.a. (for $0 to $250,000)
      standard interest rate
      0.15% p.a.(for $0 and over)
      Govt Deposit Guarantee
      Yesup to $250,000

      Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Everyday or Glide transaction accounts.

      Promoted
    • Hero Saver

      Maximum rate
      1.15% p.a. (for $0 to $250,000)
      standard interest rate
      0.01% p.a.(for $0 to $5,000,000)
      Govt Deposit Guarantee
      Yesup to $250,000

      Minimum deposit of $200 and no withdrawals in the month.

      Promoted
    • Online Saver

      Maximum rate
      1.55% p.a. (for $0 to $500,000)
      standard interest rate
      0.35% p.a.(for $0 and over)
      Govt Deposit Guarantee
      Yesup to $250,000

      Bonus rate for the first 4 months from account opening

      Promoted
    • Progress Saver

      Maximum rate
      0.85% p.a. (for $0 and over)
      standard interest rate
      0.01% p.a.(for $0 and over)
      Govt Deposit Guarantee
      Yesup to $250,000

      Bonus interest when you make a single deposit of $10 or more in a month and no withdrawals

      Promoted

    Want more? Compare all 227 savings accounts in the Mozo comparison engine.

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