7.3/10

Based on 23529 Westpac product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.

Westpac savings accounts

As Australia's first bank, Westpac has been serving customers since 1817. Westpac merged with St.George to create Australia's largest financial services company, and customers can enjoy from peace of mind from having the security offered by a major bank behind them. Check out Westpac's range of banking products such as savings accounts, home loans, personal loans, credit cards and insurance.

Westpac offers the following savings accounts

Rates and fees verified as correct at 31 May 2024. Other information correct at the time of writing. Advertiser disclosure.
Product Interest rate Maximum rate Govt deposit guarantee  
Bump Savings (under 12)

2.00% p.a.(for $0 and over)

5.00% p.a. (for $0 and over)

Yes up to $250,000

Bump Savings (under 18)

2.00% p.a.(for $0 and over)

5.00% p.a. (for $0 and over)

Yes up to $250,000

eSaver

1.10% p.a.(for $0 and over)

5.00% p.a. (for $0 and over)

Yes up to $250,000

Life

2.00% p.a.(for $0 and over)

5.00% p.a. (for $0 and over)

Yes up to $250,000

Life - 18-29 years old

2.00% p.a.(for $0 and over)

5.20% p.a. (for $0 to $30,000)

Yes up to $250,000

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How are Westpac savings accounts rated?

Mozo users have rated Westpac savings accounts on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of savings-accounts
Westpac savings accounts customer reviews
Overall
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 5006 Westpac product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Recent Westpac savings account reviews

Westpac eSaver
Overall 6/10
Does Westpac care about their everyday customers?

I've been with Westpac since the 90s and they used to be a fairer and decent back with good customer service. These days the customer service is mostly outsourced to another country which makes not difficult to have someone understand when questions need to be answered or when support is required. Their communication has become appalling, not providing updates to key information such as suspicious transactions made on personal accounts or they flag normal activity as suspicious and causing accounts not only with myself but others to be put on hold. They have got some decent savings account which I have two with Westpac. But their annual fees are quite expensive. Interest rates could be more competitive given the increasing cost of living. Security with Westpac's app and emails are good and educational to keep people aware of any fraud emails that may float about. But that is far as it goes with communication with them. They definitely need to improve with their customer service, keep customers in the loop via app, email, text or phone calls if something happens to one's account. They should offer better interest rates, zero fees and more flexible options for all working class Aussies.

Read full review

I've been with Westpac since the 90s and they used to be a fairer and decent back with good customer service. These days the customer service is mostly outsourced to another country which makes not difficult to have someone understand when questions need to be answered or when support is required. Their communication has become appalling, not providing updates to key information such as suspicious transactions made on personal accounts or they flag normal activity as suspicious and causing accounts not only with myself but others to be put on hold. They have got some decent savings account which I have two with Westpac. But their annual fees are quite expensive. Interest rates could be more competitive given the increasing cost of living. Security with Westpac's app and emails are good and educational to keep people aware of any fraud emails that may float about. But that is far as it goes with communication with them. They definitely need to improve with their customer service, keep customers in the loop via app, email, text or phone calls if something happens to one's account. They should offer better interest rates, zero fees and more flexible options for all working class Aussies.

Price
5/10
Features
7/10
Customer service
3/10
Trust
6/10
Less
Antony, New South Wales, reviewed about 2 months ago
Westpac eSaver
Overall 8/10
It is a very trustworthy and flexible sustainWestp

They are a very well known and highly numbered in members big banks in Australia. They are the main banks that most Australian businesses uses in terms of business finance management. The Westpac bank also has the reputation of safely ensuring their customers information MD personal details are not jeopardize from fraudulent activity and are very efficient in delivering the best customer service and confidence in banking with one of the four major big banks that this country is proud to be a part of.... So Am I in the sense of highly recommending this particular bank- WESTPAC AUSTRALIA BANK™ to all of my family and friends. I have the utmost respect and Trust that this bank and it's services in their resource of handling Ur savings, investments and further financial services & features provided which separates them fr the rest.

Read full review

They are a very well known and highly numbered in members big banks in Australia. They are the main banks that most Australian businesses uses in terms of business finance management. The Westpac bank also has the reputation of safely ensuring their customers information MD personal details are not jeopardize from fraudulent activity and are very efficient in delivering the best customer service and confidence in banking with one of the four major big banks that this country is proud to be a part of.... So Am I in the sense of highly recommending this particular bank- WESTPAC AUSTRALIA BANK™ to all of my family and friends. I have the utmost respect and Trust that this bank and it's services in their resource of handling Ur savings, investments and further financial services & features provided which separates them fr the rest.

Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Zenaida, Victoria, reviewed about 2 months ago
Westpac Life
Overall 1/10
Not a bank I can rely on

Yea Westpac are not been good for me because of insurance fraud yes I have been a victim of online fraud but my device has well the chip in it had been cloned and following their instructions yea seems to be a victimised by this bank for trying to claim against it and yea insurance fraud affects there is no secure way of preventing this happening doing the right thing seemed to created a bank I cannot trust or rely on when these kind of situations happen yea I didn't understand they haven't hacked my phone they have s clone of it and yea what can I do asked them to change everything all the numbers it's glitched my account that's why I know the device was stolen but given back on the pretext it was a mistake

Read full review

Yea Westpac are not been good for me because of insurance fraud yes I have been a victim of online fraud but my device has well the chip in it had been cloned and following their instructions yea seems to be a victimised by this bank for trying to claim against it and yea insurance fraud affects there is no secure way of preventing this happening doing the right thing seemed to created a bank I cannot trust or rely on when these kind of situations happen yea I didn't understand they haven't hacked my phone they have s clone of it and yea what can I do asked them to change everything all the numbers it's glitched my account that's why I know the device was stolen but given back on the pretext it was a mistake

Price
2/10
Features
2/10
Customer service
1/10
Convenience
3/10
Trust
1/10
Less
Laurence, Victoria, reviewed 2 months ago
Westpac eSaver
Overall 5/10
they need more work more sufficent and reliable

customer service is excellent

Read full review

customer service is excellent

Features
7/10
Customer service
7/10
Trust
6/10
Less
Helen, New South Wales, reviewed 2 months ago
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Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.
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.

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