7.3 / 10

based on 22798 reviews as rated by Mozo community

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 Mozo Experts Choice Award winning savings accounts, plus home loans, personal loans, credit cards and insurance.

Westpac offers the following savings accounts

Rates and fees verified as correct at 08 March, 2021. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate Maximum rate Govt deposit guarantee
Bump Savings (under 12)

0.35% p.a.(for $0 and over)

0.65% p.a. (for $0 and over)

Yes up to $250,000

Bump Savings (under 18)

0.35% p.a.(for $0 and over)

0.65% p.a. (for $0 and over)

Yes up to $250,000

eSaver

0.05% p.a.(for $0 and over)

0.40% p.a. (for $0 and over)

Yes up to $250,000

Life

0.20% p.a.(for $0 and over)

0.40% p.a. (for $0 and over)

Yes up to $250,000

Life (18-29 years old)

0.20% p.a.(for $0 and over)

3.00% p.a. (for $0 to $30,000)

Yes up to $250,000

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
Overall
7.4/10
Price
Features
Customer service
Convenience
Trust

4911 Reviews

Recent Westpac savings account reviews

Westpac eSaver review
Overall 10/10
Temora branch is the best

the Temora branch are wonderful people always great you with a smile ,very polite happy ,easy to get on with and very helpful

Read full review

the Temora branch are wonderful people always great you with a smile ,very polite happy ,easy to get on with and very helpful

Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Debra, New South Wales, reviewed 10 days ago
Westpac eSaver review
Overall 5/10
read my opinion

I like every one of the big 4 banks, you take your chances, some are better than others, but they do need to look and update their finance products options for people who do not work etc.. as government Centrelink payments are more guaranteed that job wages now and in the future.

Read full review

I like every one of the big 4 banks, you take your chances, some are better than others, but they do need to look and update their finance products options for people who do not work etc.. as government Centrelink payments are more guaranteed that job wages now and in the future.

Price
5/10
Features
7/10
Customer service
9/10
Convenience
9/10
Trust
9/10
Less
Andrew, Tasmania, reviewed 11 days ago
Westpac Savings Account review
Overall 1/10
I could not trust this bank anymore

The service is very terrible and not professional at all. I have got bad experience with one of the branch. I deposited the bank cheque (the cheque issued by Westpac) that I got it from my buyer. The teller who received it said it should be cleared in 3 business days (in this point I have felt already that the teller was not friendly at all when I asked something). After 4 days, the money was not in the account yet and when we tried to call the bank, no answer. On the fifth day, I went to the branch and asked about my cheque deposit. The branch manager told me that the cheque has been stopped on the same day when I deposited it and he called my buyer to issue another cheque but he gave the new cheque back to my buyer, “he did not inform me at all and he also did not deposited the new cheque in to my account”. This is so ridiculous procedure. My transaction with the buyer was completed already (I gave the car to the buyer and finished the transfer of ownership and gave her the receipt) since there was no problem when I deposited the cheque and even after 4 days. Luckily I know the buyer so I can ask her to pay me again but how about if the buyer run away. I am very disappointed with the service and procedure. The bank could not be trusted. If we do the business and use this bank, we might go bankrupt very soon based on my experience. The branch manager did not feel guilty at all.

Read full review

The service is very terrible and not professional at all. I have got bad experience with one of the branch. I deposited the bank cheque (the cheque issued by Westpac) that I got it from my buyer. The teller who received it said it should be cleared in 3 business days (in this point I have felt already that the teller was not friendly at all when I asked something). After 4 days, the money was not in the account yet and when we tried to call the bank, no answer. On the fifth day, I went to the branch and asked about my cheque deposit. The branch manager told me that the cheque has been stopped on the same day when I deposited it and he called my buyer to issue another cheque but he gave the new cheque back to my buyer, “he did not inform me at all and he also did not deposited the new cheque in to my account”. This is so ridiculous procedure. My transaction with the buyer was completed already (I gave the car to the buyer and finished the transfer of ownership and gave her the receipt) since there was no problem when I deposited the cheque and even after 4 days. Luckily I know the buyer so I can ask her to pay me again but how about if the buyer run away. I am very disappointed with the service and procedure. The bank could not be trusted. If we do the business and use this bank, we might go bankrupt very soon based on my experience. The branch manager did not feel guilty at all.

Price
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Nila, Victoria, reviewed 26 days ago
Westpac Savings Account review
Overall 9/10
I like their logo colours

It has an Eftpos machine close by. There are not enough banks and Eftpos machines around my area where I live. Their online banking is easy to use

Read full review

It has an Eftpos machine close by. There are not enough banks and Eftpos machines around my area where I live. Their online banking is easy to use

Price
8/10
Features
7/10
Customer service
9/10
Convenience
9/10
Trust
9/10
Less
Sussan, Tasmania, reviewed about 1 month ago

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