Bankwest savings and bank accounts

Bankwest offers a range of different accounts, including a bonus interest savings account and an everyday transaction account with no monthly fees.

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Bankwest
Name Maximum Variable Rate p.a. Base interest rate Intro/Ongoing Government Guarantee Monthly Max Rate Conditions
Bankwest Easy Saver
Bankwest logo
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000.99
Go to siteView details
Bankwest Hero Saver
Bankwest logo
Maximum Variable Rate p.a.
4.60%
Standard Variable Rate p.a.
1.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $200
  • No withdrawals
  • Balances up to $250,000.99
Bankwest Retirement Advantage Account
Bankwest logo
Maximum Variable Rate p.a.
2.65%
Standard Variable Rate p.a.
2.65%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances of $250,000 or more
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Showing 3 of 3 results
Name Monthly fee Govt. Guarantee Own network ATM fee Card type
Bankwest Easy Transaction Account
Bankwest logo
Apple Pay Google Pay Samsung Pay Garmin Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Platinum Debit Mastercard
More Info
Bankwest Qantas Transaction Account
Bankwest logo
Apple Pay Google Pay Samsung Pay Garmin Pay
Monthly fee
$6
Government Guarantee
Own network ATM fee
$0
Card type
Mastercard
More Info
Earn Qantas Points on eligible purchases and your daily account balance

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Showing 2 of 2 results
Name 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 11 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Bankwest Term Deposit
Bankwest logo
$1,000 min. deposit$10,000,000 max. deposit
3 Mths p.a.
3.75%
4 Mths p.a.
3.00%
5 Mths p.a.
3.00%
6 Mths p.a.
4.25%
7 Mths p.a.
4.00%
11 Mths p.a.
-
12 Mths p.a.
4.70%
24 Mths p.a.
3.90%
Go to siteMore Info
Bankwest Gold Term Deposit
Bankwest logo
$5,000 min. deposit$2,000,000 max. deposit
3 Mths p.a.
3.75%
4 Mths p.a.
3.00%
5 Mths p.a.
3.00%
6 Mths p.a.
4.25%
7 Mths p.a.
4.00%
11 Mths p.a.
-
12 Mths p.a.
4.70%
24 Mths p.a.
3.90%
More Info
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Showing 2 of 2 results
1 - 12 of 185
Name Maximum Variable Rate p.a. Base interest rate Intro/Ongoing Government Guarantee Monthly Max Rate Conditions
ING Savings Accelerator ($150,000 - $500,000)
ING logo
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
4.70%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
Ideal for higher balances, savers can earn up to 5.4% for the first 4 months and up to 4.7% thereafter. There are no conditions and $0 account-keeping fees.
Rabobank High Interest Savings Account
Rabobank logo
Maximum Variable Rate p.a.
5.60%
Standard Variable Rate p.a.
4.35%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Ubank High Interest Save Account
Ubank logo
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $500
  • Savings up to $100,000
Go to siteView details
ING Savings Accelerator ($150,000 - $500,000)
ING logo
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
4.70%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
Macquarie Savings Account
Macquarie Bank logo
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
5.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Suncorp Bank Growth Saver Account
Suncorp Bank logo
Maximum Variable Rate p.a.
5.05%
Standard Variable Rate p.a.
0.35%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance by $200 each month (excl. interest)
  • Only 1 withdrawal
  • No balance limit on earning interest
Go to siteView details
Bank of Queensland Simple Saver Account
BOQ logo
Maximum Variable Rate p.a.
4.85%
Standard Variable Rate p.a.
4.85%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $5,000,000
Go to siteView details
Newcastle Permanent Smart Saver Account
Newcastle Permanent logo
Maximum Variable Rate p.a.
4.50%
Standard Variable Rate p.a.
0.05%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance
  • No more than 2 withdrawals
Go to siteView details
ING Savings Maximiser
ING logo
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 transactions
  • Grow your balance
  • Balances up to $100,000
Go to siteView details
IMB Reward Saver Account
IMB logo
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $50
  • No withdrawals
  • Balances up to $1,000,000
Go to siteView details
Earn up to 3.25% p.a. after the introductory period ends.
Bankwest Easy Saver
Bankwest logo
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000.99
Go to siteView details
Rabobank PremiumSaver
Rabobank logo
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
1.45%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow your balance by $200+ each month
  • Balances up to $250,000
Go to siteView details
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Showing 12 of 13 results
Rates accurate as at: December 12th, 2024 Learn about our information service

Quick facts about Bankwest

  • Bankwest began operating in 1895 in Western Australia (WA) to provide banking services to farmers.
  • Bankwest has been owned by Commonwealth Bank since 2008.
  • Bankwest customers can also use Commonwealth Bank branches and ATMs.
  • It offers a range of different accounts, including accounts for retirees and students and has more than 1,150,000 customers.
  • When you open a new transaction account with Bankwest you can choose the colour of your debit card.

Different accounts offered by Bankwest

Bankwest offers many different bank accounts, savings accounts and term deposits which you can see listed in the table above. Here's a brief summary of a few of the main accounts Bankwest offers.

Bankwest Qantas Transaction Account

This unique transaction account allows you to earn Qantas reward points when you make eligible purchases. There is a monthly account keeping fee of $6, but this is waived if you deposit at least in your account each month.

Read our full review of the Bankwest Qantas Transaction Account.

Easy Transaction Account

This is Bankwest's simple, everyday bank account option. There's no monthly account fee and it comes with a linked Debit Mastercard in a colour of your choice which you can use at ATMs, online or in stores.

Read our full review of the Bankwest Easy Transaction Account.

Bankwest Hero Saver

This is Bankwest's bonus savings account option. You'll earn bonus interest each month you deposit at least $200 and don't make any withdrawals.

Read our full review of the Bankwest Hero Saver Account.

Bankwest Term Deposit

You can open an term deposit with as little as $1,000, and you can invest up to $10 million. You can choose from different term lengths and corresponding rates, with no account keeping fees.

Read our full review of the Bankwest Term Deposit.

What do Australians think of Bankwest bank account?

  • 3.99/5 overall for Customer Satisfaction — lower than the average of 4.11
  • 4.19/5 for Trust — lower than the average of 4.43
  • 4.07/5 for Customer Service — equal to the average of 4.07

Based on Bankwest bank account scores in Finder's 2024 Customer Satisfaction Awards.

Different Ways to bank with Bankwest

Bankwest offers many different ways to do your banking.

Bankwest ATM network

As Bankwest is owned by CommBank, Bankwest customers can use CommBank ATMs free of charge. CommBank has more than 1,000 ATMs across Australia, and you'll find that many 7/11 stores have a Bankwest ATM.

Bankwest customers can also use their Australian debit cards to withdraw cash for free at NAB, Westpac and ANZ ATMs throughout Australia.

Bank@Post

If you need to deposit cash into your Bankwest account, you can do this at a participating Australia Post shop using Bank@Post. It's free to deposit cash into your account this way.

Bankwest Internet and mobile banking

Bankwest Online Banking is available 24/7 to do all your standard banking. This includes to review transactions and balances, see more detailed transaction data, pay bills, transfer money between accounts and make BPAY payments. You can also view and download your statements and open new Bankwest accounts.

The Bankwest App is free to download, and has a 3.8 star rating in the App Store and a 4.4 star rating in the Google Play store. You can do your day-to-day digital banking using the app, and you can also set up personal savings goals with your Bankwest Hero Saver account and track your progress. And you can set up your PayID in the app to use instead of your BSB and Account Number.

Bankwest contactless payment options

Bankwest offers Apple Pay and Google Pay to customers with a Bankwest debit or credit card.

Pros and cons of banking with Bankwest

Pros

  • Choice of accounts. Bankwest has different transaction and savings accounts to suit specific requirements, like accounts for retirees and students as well as multiple savings account options.
  • Backed by CommBank. Bankwest is part of the Commonwealth Bank group, so has the security backing and network of a Big Four bank.
  • Qantas Points. The Bankwest Qantas Transaction account allows you to earn Qantas Points on your everyday purchases.

Cons

  • Account fees. Some transaction accounts require that you meet certain criteria to qualify for a monthly fee waiver.
  • Less competitive rates. Bankwest savings accounts offer less competitive interest rates than other accounts on the market.
  • No overseas networks. Bankwest doesn't have international ATMs or branches, which could be a consideration if you travel a lot.

How to apply for a Bankwest account online

You can apply for a new Bankwest account online in less than 10 minutes. Just make sure you meet the eligibility criteria and have the necessary documents handy before you start your application.

Eligibility

  • You're over 18 years old
  • You're an Australian resident for tax purposes
  • You have an Australian phone number and residential address

Documentation

  • Personal details like your name, date of birth, residential address, phone number and email address
  • ID documents such as your driver's licence, Medicare card, passport or proof-of-age card

If you haven't found what you're looking for yet, you can compare a wide range of additional savings accounts and bank accounts from other providers with Finder.

Compare other products from Bankwest

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Written by

Editor

Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full bio

Alison's expertise
Alison has written 625 Finder guides across topics including:
  • Superannuation
  • Savings accounts, bank accounts and term deposits
  • Budgeting and money-saving hacks
  • Managing the cost of living

More guides on Finder

  • Bankwest Platinum Debit Mastercard

    Add more perks to your transaction account by linking it to a Platinum Debit Mastercard.

  • Bankwest Retirement Advantage Account

    Put your everyday spending money to work. The Bankwest Retirement Advantage Account is a day to day bank account that rewards you with interest.

  • Bankwest Gold Term Deposit

    Short term savings goals can be met with ease when you choose to invest with Bankwest’s term deposit account.

  • Bankwest Smart eSaver

    The Bankwest Smart eSaver and its easy to earn competitive interest rate makes this an account that could bring you closer to your financial goals.

  • Bankwest Easy Transaction Account

    The Bankwest Easy Transaction Account offers a Debit Mastercard and low fees and makes managing your day-to-day money needs easy.

  • Bankwest Term Deposit

    While you can apply for a Bankwest Term Deposit from the comfort of your home or office, know that you can find this feature in certain term deposits offered by other banks as well, so compare a few before applying.

  • Bankwest Hero Saver savings account

    If you have a specific savings goal that you want to meet fast, the competitive interest rate and no fees make the Hero Saver worth considering.

  • Bankwest Qantas Transaction Account

    If the prospect of saving money on flights is enticing to you, then this is an everyday account worth considering.

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2 Responses

    Default Gravatar
    EmmyOctober 2, 2018

    I am wanting to have access to my term deposit money which has matured 2x from the maturity. I would like to know what are the chances of withdrawing some of the funds as I am experiencing hardship . Need to buy a car from a private seller. I would like to know if I can access the funds within the week or so ?

      AvatarFinder
      JhezelynOctober 4, 2018Finder

      Hello Emmy,

      Thank you for your comment.

      If you need to access your term deposit funds before it reaches its 3rd maturity, you will need to give the bank 31 days’ notice. If there are less than 31 days left until the account matures (3rd time), you will need to wait until it reaches maturity to access funds. Usually, you can just contact the bank as they can make exceptions on a case-to-case basis.

      You may check our guide on how to access a term deposit early. I hope this helps.

      Should you wish to have real-time answers to your questions, try our chatbox on the lower right corner of our page.

      Regards,
      Jhezelyn

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