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Finder Earn vs Westpac Life

Posted: 21 April 2022 1:12 pm
News
FeatureFinder EarnWestpac Life
Rate (p.a.)4.01%Up to 2%*
Interest paidDailyMonthly
FeesZeroZero
Protected by FCS**NoYes
Foreign exchange riskNoNo
What next?Get startedRead our review

*You'll need to meet all of Westpac's criteria to be eligible for the highest rate.

**The Financial Claims Scheme (FCS) is a government-backed guarantee that protects deposit holders for up to $250,000.

Finder Earn vs Westpac Life

The Westpac Life savings account has one of the most competitive interest rates of any high interest savings account. But did you know there are other ways to grow your wealth?

Finder Earn is an different way to get a fixed return on your capital.

It's important to understand that Finder Earn is not a savings account, and has a very different risk profile.

Risks

It's important to understand that Finder Earn has a very different risk profile to your Westpac Life account. When you lend Finder Wallet your capital, you transfer ownership of the TAUD stablecoins to Finder Wallet.

If Finder Wallet becomes insolvent or subject to hacking or some other cybersecurity event, then you may incur partial or total loss of the capital. You will be an unsecured creditor in relation to your capital and any accrued returns. You can read the full list of risks here. The money you deposit into your Westpac savings account is protected by the Financial Claims Scheme (FCS), up to $250,000. Finder Earn is not protected by the FCS.


Surgical Extraction

Get 4.01% p.a. on your capital

Finder Earn lets you get a competitive 4.01% p.a. return on your capital. Start earning today, straight from your Finder app. T&Cs apply.

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